Forestville's developer was told not to sell units, says URA
By Romesh Navaratnarajah:Hao Yuan Investment, the developer behind the 653-unit Forestville executive condominium (EC), has instructed property agents to return cheques to buyers after it did not secure approval from the Urban Redevelopment Authority (URA) to sell units, reported The Straits...
Continue Reading • 31 Dec 2012
The lure of ECs
By Romesh Navaratnarajah:Demand for executive condominiums (ECs) has been red hot this year due to their potential price gains and features that rival those of private condominiums, reported The Straits Times. The launch of the S$2.05 million “presidential penthouse suite” at CityLife...
Continue Reading • 31 Dec 2012
$2m EC unit sold
By Romesh Navaratnarajah:The highly-debated presidential suite at CityLife@Tampines executive condominium (EC) was sold for S$2.05 million just two hours after bookings began on Saturday morning, The Straits Times reported. The 4,349 sq ft penthouse was bought by Ms C. Koh on behalf of her...
Continue Reading • 31 Dec 2012
Govt policies could dampen Asia Pacific property
By Romesh Navaratnarajah:As government measures dent demand for home buying activity, prime property markets across the Asia Pacific region are unlikely to outperform the other regions of the world in 2013, according to Knight Frank.Cooling measures that aim to regulate housing prices and prevent...
Continue Reading • 28 Dec 2012
Aussie mansion to be auctioned
By Romesh Navaratnarajah:A lavish mansion (pictured) nestled on a 17 ha estate in Gold Coast, Australia will be auctioned next month, according to media reports.Dubbed Bellagio La Villa, the 2,547 sq m estate is owned by property developers Paul and Viki Sweeney, founders of developer Coral...
Continue Reading • 28 Dec 2012
GCB prices up, despite weaker sales
By Romesh Navaratnarajah:Although fewer good class bungalows (GCBs) were sold in 2012 compared to the previous year, their average selling prices were higher, said analysts.Deals involving GCBs fell due to poor market sentiment caused by the city-state’s property cooling measures and weak...
Continue Reading • 28 Dec 2012
EC unit to eclipse S$2m mark
By Romesh Navaratnarajah:CityLife@Tampines (pictured) could set a new record as its presidential suite will be priced at around S$2.05 million, or S$470 psf on its 4,349 sq ft area. If successfully sold at the launch this weekend, the penthouse will become the first executive condominium (EC)...
Continue Reading • 28 Dec 2012
Housing demand from singles, seniors to rise: report
By Romesh Navaratnarajah:As the population of Singapore grows in size and complexity, some minority demographic groups are expected to play an important part in the country’s housing market in the near future, namely singles and senior citizens.According to The Minority Report by Colliers...
Continue Reading • 27 Dec 2012
Strong interest in Forestville EC
By Romesh Navaratnarajah:The 653-unit Forestville executive condominium (EC) has attracted strong interest, receiving nearly 800 E-Applications since it opened for bookings last Friday, The Business Times reported.Located at Woodlands Ave 5/Woodlands Drive 16, Forestville (pictured) is managed by...
Continue Reading • 26 Dec 2012
Echelon to commence sales this week
By Romesh Navaratnarajah:The much-anticipated Echelon condominium project (pictured) by City Developments Limited (CDL) will commence sales later this week, reported The Business Times.Located along Alexandra Road, the 43-storey 99-year leasehold development will reportedly sell units at an...
Continue Reading • 26 Dec 2012
Investment sales slow slightly: report
By Romesh Navaratnarajah:Investment sales across all property segments in the last quarter of 2012 reached S$7.6 billion, bringing the entire year’s figure to S$29.4 billion or slightly below last year’s S$30.1 billion and S$32 billion in 2010, according to a report by Savills...
Continue Reading • 24 Dec 2012
Two redevelopment sites sold
By Romesh Navaratnarajah:Two redevelopment sites – Leong On Building, a commercial-residential property at 520 Balestier Road and a residential site at 241 Pasir Panjang Road (pictured) — have been sold. The Balestier Road site was sold for S$92.3 million to Techkon Development...
Continue Reading • 24 Dec 2012
Top 10 Stories of 2012
By Romesh Navaratnarajah:2012 has been a bright year for Singapore’s property market, and as the year draws to a close, we take another look at the 10 most read stories on PropertyGuru this year.1. First to make the list was a story published on 12 April about the...
Continue Reading • 24 Dec 2012
Far East caps successful year
By Romesh Navaratnarajah: Singapore developer Far East Organization is offering a festive promotion for units in some of its most popular developments. “This year we have brought several new lifestyle concepts to the residential market including a range of SOHO-lifestyle offerings, and...
Continue Reading • 21 Dec 2012
S'pore home prices soar, but not invincible
By Romesh Navaratnarajah: Singapore home prices have remained among the highest in the world amid challenges faced by the economy this year. Since the global financial crisis, prices have soared 56 percent and this is expected to continue in 2013, even as sales volumes decline due to the...
Continue Reading • 20 Dec 2012
Forestville EC launching this month
By Romesh Navaratnarajah:Banking on strong demand for executive condominiums (ECs), developer Hua Yuan Investment is set to unveil its latest EC development in Woodlands Avenue 5 this month. Called Forestville (pictured), the 99-year leasehold project is located on a 277,711 sq ft site and will...
Continue Reading • 20 Dec 2012
Experts expect EC demand to strengthen
By Romesh Navaratnarajah: With higher incomes, buyers will likely create more demand for executive condominiums (ECs), according to a report by DTZ. As of Q3 2012, there were 6,500 EC units for sale. This is in addition to the 3,100 units expected to be delivered under the confirmed list of the...
Continue Reading • 20 Dec 2012
Buzz surrounds new CDL condo
By Romesh Navaratnarajah: City Developments Limited (CDL) has unveiled a luxurious new residential project in Singapore offering exclusive housing options with a myriad of facilities to make residents feel at home. Called Echelon at Alexandra View (Artist's Impression pictured), the condominium...
Continue Reading • 19 Dec 2012
Cautious bidding expected for latest GLS sites
By Romesh Navaratnarajah: Two 99-year leasehold residential sites released under the Government Land Sales (GLS) Programme this month are expected to receive healthy interest from developers, with seven to nine bids due to their strategic locations, said Knight Frank Singapore. Located at...
Continue Reading • 19 Dec 2012
Govt releases two more housing sites
By Romesh Navaratnarajah: In a bid to provide developers and home buyers with more housing options, the Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB) released two residential sites for sale this month. Both plots are expected to yield about 1,300 housing...
Continue Reading • 18 Dec 2012