DC rates set to climb: analysts
By Romesh Navaratnarajah:Several property consultants expect development charge (DC) rates for non-landed residential use to rise on 1 September as prices of land sales for the last six months hover above land values implied by existing DC rates. At the same time, analysts feel that industrial...
Continue Reading • 28 Aug 2012
S'pore property lures foreign buyers back
By Romesh Navaratnarajah: Foreign buyers have shown renewed interest towards non-landed private homes in Singapore, after a decline in demand due to the additional stamp duty imposed last December. In Q2 2012, Malaysians accounted for the largest share of foreign buyers in Singapore at 6.3...
Continue Reading • 28 Aug 2012
Leasehold projects on freehold sites becoming more common
By Romesh Navaratnarajah:In an effort to secure future land banking opportunities, property developers are launching leasehold developments on freehold sites, enabling them to launch units at more competitive prices.But analysts caution that this could affect the developers’ future en bloc...
Continue Reading • 27 Aug 2012
Bedok Reservoir lures home buyers with waterfront charm
By Romesh Navaratnarajah:Home buying interest along Bedok Reservoir Road has been boosted by the rise of more than 2,300 private condo units in the area, according to Alan Cheong, Head of Research at Savills Singapore.Dominating the area are four condos in the Waterfront Collection that are being...
Continue Reading • 27 Aug 2012
Ghost Month not scaring off home buyers
By Romesh Navaratnarajah:Amid the customarily quiet Hungry Ghost Festival, both eCO and One Dusun Residences (pictured) still managed to attract strong interest from buyers. The eCO project at Bedok South Avenue 3 received over 300 registrations of interest for the 222 units released, with prices...
Continue Reading • 27 Aug 2012
Developers may slash prices to boost luxury home sales
By Romesh Navaratnarajah:Even as government policies and an economic slowdown dampen investor interest, the growing number of unsold homes could bring about further price correction leading to renewed buying interest, according to Savills Research & Consultancy.“Bargain hunters may come...
Continue Reading • 24 Aug 2012
Hamilton Scotts is first Asian residence with en suite sky garages
By Romesh Navaratnarajah:Hayden Properties, the luxury arm of KOP Properties has launched Hamilton Scotts (pictured), a luxury residential development that features Asia’s first elevated parking concept. Located at 37 Scotts Road near the Orchard Road shopping belt, the development...
Continue Reading • 24 Aug 2012
Resale private home sales edge out new launches
By Romesh Navaratnarajah: Recent data from the Urban Redevelopment Authority (URA) has shown that more home buyers are drawn to the private resale market than new homes. New home sales or developer sales fell 17 percent in Q2 2012 to just 5,402 units from 6,526 in Q1. Last quarter, new...
Continue Reading • 24 Aug 2012
Govt launches 3 sites to yield 1600 homes
By Romesh Navaratnarajah: The Urban Redevelopment Authority (URA) and Housing and Development Board (HDB) have launched three 99-year leasehold sites for sale that are expected to yield 1,600 homes. According to the URA, its two land parcels at New Upper Changi Road (Parcel A) and Prince Charles...
Continue Reading • 24 Aug 2012
Luxury home prices head south
By Romesh Navaratnarajah:Singapore’s luxury property market could see further price correction due to the rising number of unsold homes, amid a resurgence in investors that caused sales activity to double in Q2 2012. According to Savills Research & Consultancy, as many as 4,000 luxury...
Continue Reading • 23 Aug 2012
Thomson View up for sale again
By Romesh Navaratnarajah:Due to strong interest from property developers, Thomson View Condominium (pictured) has been re-launched for collective sale through a public tender.“The tender re-launch for Thomson View Condominium has been triggered by the resurgent interests expressed by...
Continue Reading • 23 Aug 2012
99-year leasehold properties see demand soar
By Romesh Navaratnarajah:Several property analysts have noted that demand for new 99-year leasehold developments are rising, with such units accounting for about three out of four private residential projects launched in the last year, according to a Channel NewsAsia report. Despite the robust...
Continue Reading • 23 Aug 2012
Property market keeps afloat: JLL report
By Romesh Navaratnarajah: The Asia Pacific property market remains resilient due to strong investment volumes, even on the back of uncertainties in the global economy, according to Jones Lang LaSalle’s (JLL) Asia Pacific Property Digest (APPD) for Q2 2012. Despite this, the slowdown in...
Continue Reading • 22 Aug 2012
S'pore property taxes are 2nd highest globally
By Romesh Navaratnarajah: Property taxes in Singapore were ranked second highest among global world-class cities, according to latest data from Savills Research. A Singapore Business Review report noted that the city-state’s property taxes at S$57,059 are only S$1,180 lower than Hong Kong,...
Continue Reading • 21 Aug 2012
GCB for sale, price tag: S$106m
By Romesh Navaratnarajah: A Good Class Bungalow (GCB) at Nassim Road is on the market for a staggering S$106 million. If sold for that amount, it would be the most expensive home sold on mainland Singapore to date. Listed on PropertyGuru, the asking price for the GCB beats all previous records....
Continue Reading • 17 Aug 2012
Jalan Sultan site launched for public tender
By Romesh Navaratnarajah: A reserve list site slated for hotel or commercial-residential development at Victoria Street / Jalan Sultan (pictured) has been launched for public tender, according to the Urban Redevelopment Authority (URA). The 8,423.2 sq m site is expected to yield a maximum...
Continue Reading • 17 Aug 2012
Kovan Lodge up for collective sale
By Romesh Navaratnarajah:Kovan Lodge (pictured), a freehold residential site at Kovan Road is up for sale by tender, according to marketing agent Mount Everest Properties. Sited on a 27,090 sq ft plot, Kovan Lodge could be redeveloped into a larger residential development, subject to approval by...
Continue Reading • 16 Aug 2012
Super-prime home sales jump 80% in July
By Romesh Navaratnarajah:Private home sales in the month of July for Singapore's Core Central Region (CCR) jumped by almost 80 percent month-on-month to reach 253 units.Data from the Urban Redevelopment Authority (URA) showed that figures were boosted by robust sales at the 510-unit V On Shenton...
Continue Reading • 16 Aug 2012
Private home sales jump 42% in July
By Romesh Navaratnarajah: Prior to the upcoming Ghost Month, which is a traditionally quiet period in Singapore's property market, private home sales have risen according to URA's (Urban Redevelopment Authority) data for July. 1,943 new homes were sold last month, a 42 percent jump...
Continue Reading • 15 Aug 2012
SE Asia leading the region in luxury housing prices
By Romesh Navaratnarajah: Asia’s charge in luxury residential capital value growth is buoyed by emerging South East Asian cities, according to Jones Lang LaSalle’s (JLL) latest Residential Index.Over the past year ended-Q2, Jakarta and Manila’s indices posted double digit growth...
Continue Reading • 15 Aug 2012