Curbs push down luxury home prices
Luxury residential prices in Singapore moderated slightly in Q3 2013 as government measures continue to limit overseas buyer demand and curb speculative acquisitions, a report from CBRE Research revealed. The report noted that capital values of new luxury homes “softened by -5.7 percent...
Continue Reading • 18 Nov 2013
Strong response to DUO Residences preview
The residential component of the integrated development DUO located in Bugis has received overwhelming response during preview sales which started on Wednesday. According to the developer M+S Pte Ltd, more than 2,000 prospective buyers expressed early interest in the 660-unit DUO Residences and...
Continue Reading • 15 Nov 2013
New private home sales plunge 19%
Sales of new private homes in October reached 1,009 units excluding executive condominiums (ECs), revealed data from the Urban Redevelopment Authority (URA). This is a 19 percent decline from the 1,246 units sold in September. The drop was partly attributed to fewer launches of 1,124 units in...
Continue Reading • 15 Nov 2013
Sales of shoebox units most active in suburbs
With its lower price quantum and higher rental yields, shoebox units or units that are 50 sq m and below are gaining popularity particularly in the Outside Central Region (OCR), according to a Knight Frank report.During the first nine months of 2013, the OCR accounted for 53.3 percent of new sale...
Continue Reading • 15 Nov 2013
Overwhelming demand seen for Alex Residences
The 429-unit Alex Residences condominium near Redhill MRT station attracted keen interest during its preview sales on Wednesday, with all 150 units initially released sold.Given the strong demand, its developer SingLand released another 50 units under phase one with average prices at S$1,650 psf....
Continue Reading • 15 Nov 2013
Balestier, Upper East Coast sites up for sale
A row of six shophouses as well as a redevelopment site in Balestier have been launched for sale by expression of interest (EOI), with the owner expecting offers of more than S$33 million for both properties collectively, revealed marketing agent Knight Frank. The seller is also giving...
Continue Reading • 14 Nov 2013
Orchard Rd is 16th most expensive retail location
With rents at US$354 (S$441) psf per year, Singapore’s Orchard Road has retained its position as the 16th most expensive retail location in the world, according to a new report from Cushman & Wakefield.Topping the list is Hong Kong, where luxury brands and jewellery retailers remain the...
Continue Reading • 14 Nov 2013
Free Saturday seminar on popularity of ECs
Real estate portal PropertyGuru is expanding its series of consumer seminars, once again partnering with Hao Yuan Development to hold one this Saturday (16 November) at the Sea Horizon Sales Gallery along Pasir Ris Drive 3.The seminar is open to the public for free and starts at 12:30pm. This...
Continue Reading • 14 Nov 2013
Havelock Rd site attracts 9 bids
A prime hotel site at Havelock Road received nine valid bids when its tender closed on Tuesday, according to the Urban Redevelopment Authority (URA). Launched for sale on 18 September, the 1,536.2 sq m site has a maximum gross floor area of 2,145 sq m and comes with a 60-year lease. I...
Continue Reading • 13 Nov 2013
Chinese top S'poreans as top new-build buyers
Chinese property buyers and investors have eclipsed those from Singapore as the world's foremost buyers of prime new-build homes globally.According to the latest Global Development Insight Q3 2013 report from Knight Frank, since the global financial crisis took hold five years ago, private...
Continue Reading • 13 Nov 2013
Asia Pacific cross-border activity up
Cross-border transactions involving properties in Asia Pacific increased in Q3 2013, both intra-regionally and from investors purchasing from outside the region, revealed a CBRE report.The trend includes Asia-based private institutions and investors looking for opportunities to park...
Continue Reading • 12 Nov 2013
Viewing property from a public perspective
Property seekers share their thoughts on what impacts them. The results are out: Singapore is a nation obsessed with property.With more than 70 percent of Singaporeans owning their own home, and many more watching and speculating as to what the latest market trends will be like, the topic...
Continue Reading • 12 Nov 2013
DUO expected to attract Malaysian buyers
The integrated development DUO (pictured), one of two major projects in Singapore by M+S Pte Ltd, a joint venture between Malaysia’s Khazanah Nasional and Singapore’s Temasek Holdings, opened its show gallery in Kuala Lumpur’s Plaza Mont’ Kiara last Friday.Located on a...
Continue Reading • 11 Nov 2013
A Chat with Patrick Lam from JBE Holdings
The executive condominium (EC) market has been in the spotlight recently as more buyers are drawn to their affordable prices and lifestyle options. SkyPark Residences, jointly developed by JBE Holdings and Keong Hong Holdings, is the latest EC to launch and has seen overwhelming demand.JBE...
Continue Reading • 11 Nov 2013
Tenders awarded for two industrial sites
The tender for two industrial sites at Tuas South Street 6 (Plot 4) and Tuas South Street 7 (Plot 28) has been awarded by JTC Corporation to Derman Aluminum (S) and Reclaims Enterprise, after they submitted the highest bids of S$2.88 million and S$5.33 million respectively. Launched for sale on...
Continue Reading • 11 Nov 2013
District Watch: District 16
Nestled in the east, District 16 is a largely residential enclave comprising HDB flats and private homes offering an escape from the hustle and bustle of city life. Dotted with several neighbourhood schools such as Chai Chee Secondary School and Temasek Primary and Secondary Schools, as...
Continue Reading • 11 Nov 2013
Sentosa condo prices down: Colliers report
Housing measures and other factors have opened a new window of opportunity for home buyers.Considered a playground for wealthy Singaporeans and foreigners, the exclusive residential enclave of Sentosa Cove has lost some of its lustre from its heyday; due mainly to the 2008 global financial crisis...
Continue Reading • 8 Nov 2013
Developer building homes for rich Chinese in Singapore
China's largest mainland-listed developer, China Vanke, is building residential units especially for wealthy Chinese in Singapore and raising debt in the city’s currency.According to media reports, the move comes amid efforts by the Chinese government to rein in property prices and minimise...
Continue Reading • 7 Nov 2013
Property investor confidence up
Asian investors are more upbeat about real estate investment, with 62 percent expecting the property market in Asia to improve over the next 12 months, according to the latest Colliers International Global Investment Sentiment Survey.This reflects a higher level of confidence than in the previous...
Continue Reading • 7 Nov 2013
URA to launch tender for East Coast Road hotel site
A hotel site (pictured) at East Coast Road will be launched for sale by public tender, the Urban Redevelopment Authority (URA) announced today.The 99-year leasehold site located near the junction of East Coast Road and Joo Chiat Road, has an area of 0.8ha and a gross floor area of 266,040 sq ft....
Continue Reading • 7 Nov 2013