More properties up for auction in 2013: report
The number of properties put up for auction jumped to 224 in the first half of 2013 from a record low of 140 properties in 2H2012, with year-on-year growth at 24 percent. This came as a higher proportion of non-residential properties entered the market, revealed a Knight Frank report.Around 92...
Continue Reading • 4 Sept 2013
Havelock Rd hotel site triggered for sale
A hotel site at Havelock Road will be launched for public tender in two weeks’ time, revealed the Urban Redevelopment Authority (URA).The land parcel was earlier released under the reserve list of the 1H2013 Government Land Sales (GLS) Programme and was triggered for sale after a...
Continue Reading • 4 Sept 2013
Hillion Residences seminar draws good crowd
A recent seminar organised by PropertyGuru and held on a Sunday at the Hillion Residences showflat in Bukit Panjang attracted a healthy number of visitors. This is the fourth such event in 2013 for the property portal. The attendees were mainly Singaporean buyers and investors, many of whom...
Continue Reading • 4 Sept 2013
Chinese funds target Singapore property: report
With over US$14 billion (S$17.84 billion) available for overseas property investment, Chinese insurance funds will likely target high transparency markets such as Singapore, Canada, US and the UK, revealed a CBRE report.In fact, prime high-end office properties in core international cities are...
Continue Reading • 3 Sept 2013
Developers dangling rental guarantees to draw buyers
As a way to dispose of hard-to-sell property, developers are resorting to rental guarantees for some shop units to lure reluctant buyers without lowering prices, according to media reports. In fact, one newspaper advertisement highlighted that a four percent guarantee is being offered for some...
Continue Reading • 3 Sept 2013
Many undaunted by Bidadari's cemetery history
Many Singaporeans remain unfazed by Bidadari’s history as the country's largest cemetery, media reports said. Plans are underway to convert the 18ha cemetery into a HDB town and private estates. “I'm not bothered by its cemetery history...I'm aware that other housing areas like Bishan...
Continue Reading • 3 Sept 2013
Industrial sector leads hike in DC rates
The Ministry of National Development (MND) has announced new development charge (DC) rates, or taxes payable on the enhancement in land value for the next six months, with industrial property seeing the highest uptick at 15 percent on average.“The largest increase of 29.2 percent was seen...
Continue Reading • 2 Sept 2013
It's looking like a buyer's market
To offset the effects of tighter mortgage rules, developers are giving home buyers more leeway in choosing units and making purchase decisions, media reports said.The preview periods for new launches have been extended by many developers to give buyers more time to decide and secure enough...
Continue Reading • 30 Aug 2013
iLiv@Grange condo reportedly for sale
The 30-unit iLiv@Grange condominium could be put up for en bloc sale, media reports said.According to market chatter, local developer Heeton Holdings is asking for S$2,200 to S$2,300 psf for the units. This works out to S$129 million – S$135 million given the development's total saleable...
Continue Reading • 30 Aug 2013
Resale private home prices up in July
Private home prices in the resale market increased marginally by 0.2 percent in July to 162.7, according to the Singapore Residential Price Index (SRPI) flash estimates published by the National University of Singapore's Institute of Real Estate Studies.The rise was attributed to values of small...
Continue Reading • 29 Aug 2013
Wing Tai chief expects property price correction
With property prices on the rise since 2005, the housing market will likely see a price correction, said Wing Tai’s Chairman Cheng Wai Keung.Speaking to the media at the company’s full-year results briefing, Cheng noted that “the chances of the market turning this year are quite...
Continue Reading • 29 Aug 2013
Property stocks fall on latest measures
The Singapore property index tracking 43 stocks fell 1.4 percent to 692.64 at the close of trading yesterday – the lowest in the last year.The decline was attributed to the government’s latest housing measures including reduced home loan tenures and buying restrictions on newly-minted...
Continue Reading • 29 Aug 2013
PRs to turn to private homes, say analysts
Singapore permanent residents (PRs) are expected to show greater demand for rental and private homes following the latest measures targeting the purchase of resale HDB flats, media reports said. Under the rules announced on Tuesday, newly-minted PRs need to wait three years before they can buy a...
Continue Reading • 28 Aug 2013
Letter to the editor: Housing affordability in S'pore
Everyone aspires to own their own home and most people will want to get married and bring up their children within a sufficiently-sized livable space in a private home or flat (not shoebox condominiums created due to high land costs purchased by developers). Most children, i.e. the next...
Continue Reading • 28 Aug 2013
Buyers shift focus to shoebox units: DTZ
Buyers are being drawn to more affordable and smaller units following the government’s latest property cooling measures and stricter loan rules, according to a report from DTZ.During the second quarter, 2,571 buyers (38 percent) opted to buy homes below S$1 million, higher than the 1,835...
Continue Reading • 27 Aug 2013
Ardmore condo prices still resilient
Despite slower pre-sales activity, prices within the Ardmore Park area in District 10 remain resilient due to its “purely luxury” positioning.R'ST Research Director Ong Kah Seng said: “It's very different from new high-end residential areas like Marina Bay and Sentosa Cove where...
Continue Reading • 26 Aug 2013
DC rates to see moderate hike: analysts
Property consultants expect development charge (DC) rates to move up starting September due to higher land prices in previous months, according to media reports.But this is likely to be conservative as the government continues its efforts to ensure market stability.Average DC rates for commercial...
Continue Reading • 26 Aug 2013
Small developers seek strength in numbers
Smaller developers are teaming up as consortiums to leverage on each other’s resources when bidding for sites amid stiff market competition, said media reports.According to Donald Han, Managing Director at property consultancy Chestern Singapore, smaller players need to raise more funds...
Continue Reading • 26 Aug 2013
Singapore housing costs still major thorn for US execs
Housing costs are still the biggest concern among US-based businesses in Singapore, followed by office space costs and availability of affordable manpower, revealed the latest 2013 ASEAN Business Outlook survey conducted by the US Chamber of Commerce and the American Chamber of Commerce....
Continue Reading • 26 Aug 2013
Bungalow could sell for $2500 psf, setting record
OSIM founder Ron Sim is reportedly selling his good class bungalow (GCB) at Bin Tong Park for S$117 million, which translates to a psf price of around S$2,500. This would set a new record psf price, media reports stated.The property has an area of about 22,000 sq ft and is located on a hillside...
Continue Reading • 23 Aug 2013