Pheng Geck Ave site awarded to Santarli
By Romesh Navaratnarajah: A residential site (pictured) at Pheng Geck Avenue (Parcel B) has been awarded to Santarli Corporation after it submitted the highest bid of S$114.8 million in a public tender.The land parcel was launched by the URA (Urban Redevelopment Authority) under the confirmed...
Continue Reading • 5 Jul 2012
Landmark Tower launched for public tender
By Romesh Navaratnarajah: Landmark Tower (pictured), a prime residential development located at Chin Swee Road on the fringe of the central business district (CBD) has been launched for public tender. Zoned for residential usage under the 2008 Master Plan, the site measures approximately 60,821...
Continue Reading • 4 Jul 2012
17 units at 8 Napier changing hands
By Romesh Navaratnarajah:17 apartments at 8 Napier (pictured) are said to be changing hands for between S$2,800 psf and S$3,000 psf to Alpha Investment Partners. The three-bedroom units, which measure 2,013 sq ft each, could be sold at a total price of around S$100 million. According to media...
Continue Reading • 3 Jul 2012
Rich, famous living it up in Sentosa Cove
By Romesh Navaratnarajah: The appeal of a Sentosa Cove home (pictured) lies in its exclusivity and the lifestyle it offers, according to a report by AsiaOne. Among famous personalities drawn to its appeal is Addy Lee, celebrity hair stylist and CEO of Monsoon Hair Group, who owns a three-room...
Continue Reading • 3 Jul 2012
Landed homeowners sitting on a gold mine
By Romesh Navaratnarajah: It’s official! Landed homeowners in Singapore are sitting on a pot of gold. In fact, over the past 10 years, landed properties in Singapore have seen a 101 percent value appreciation, notably higher than the 72 percent recorded for non-landed homes. Back in Q1...
Continue Reading • 2 Jul 2012
Suburban condo prices resilient: NUS study
By Romesh Navaratnarajah: The latest Singapore Residential Price Index (SRPI) from the National University of Singapore (NUS) revealed that prices of completed apartments larger than 506 sq ft in the Non-Central Region (NCR) or suburban areas were the most resilient from the start of the year to...
Continue Reading • 2 Jul 2012
Sleepy Joo Chiat to transform into boom town
By Romesh Navaratnarajah: The neighbourhood of Joo Chiat (pictured) will undergo major transformation in the next few years, with new buildings and changing demographics to rejuvenate the sleepy area. Smaller boutique condos with less than 100 units each are springing up, including the sold out...
Continue Reading • 2 Jul 2012
Shoebox mania subsides, demand up for bigger units
By Romesh Navaratnarajah: With initial signs that the shoebox craze may be subsiding, demand for larger non-landed homes appears to be on the upswing with upgraders leading the way.Data from property consultancy CBRE shows that the median size of all new non-landed homes sold in Q2 2012 rose to...
Continue Reading • 2 Jul 2012
Private home prices up 0.4% from Q1
By Romesh Navaratnarajah: The overall private residential property price index climbed 0.4 percent to 206.8 in Q2 2012, up from 206.0 in the previous quarter, according to flash estimates released by the Urban Redevelopment Authority (URA).The rise counters the 0.1 percent decline seen in the...
Continue Reading • 2 Jul 2012
Pheng Geck Ave site attracts top bid of S$114.8m
By Romesh Navaratnarajah: The tender for a residential site (pictured) located at Pheng Geck Avenue (Parcel B) closed yesterday after attracting a total of 13 bids, with the top bid at S$114.8 million.It translates to S$6,762.09 psm and was offered by Santarli Corporation. The second...
Continue Reading • 29 Jun 2012
Farrer Drive site awarded to Singland
By Romesh Navaratnarajah:A residential site at Farrer Drive (pictured) has been awarded to Singland Development, after it offered the top bid of S$113.2 million, which translates to around S$11,286 psm.The site was launched for tender on 24 May by the URA (Urban Redevelopment Authority) and...
Continue Reading • 28 Jun 2012
Property auctions market sputters along
By Romesh Navaratnarajah:Singapore’s property auction market saw a subdued start to the year due to the effects of the additional buyer’s stamp duty (ABSD). Of the 198 properties put up for auction in H12012, 191 were listed by owners while seven were put up by mortgagees. “This...
Continue Reading • 28 Jun 2012
Faber Drive bungalow goes on sale
By Romesh Navaratnarajah:A bungalow at 44 Faber Drive (pictured) has been put up for sale by Expression of Interest (EOI), according to a statement by Knight Frank.With features that include a garden and swimming pool, the site has an area of 11,719 sq ft and is adjacent to The Clementi Mall,...
Continue Reading • 28 Jun 2012
Singapore ranks 13th for property transparency globally
By Romesh Navaratnarajah:Singapore is ranked 13th among the most transparent real estate markets in the world, according to the 2012 Global Real Estate Transparency Index released by Jones Lang LaSalle (JLL). Singapore recorded a composite score of 1.85, while Hong Kong, which landed in 11th...
Continue Reading • 28 Jun 2012
OCBC upgrades residential sector
By Romesh Navaratnarajah: OCBC Research has rated the residential sector “Overweight” and expects mass market prices to remain high. “Our analysis of household income and system liquidity shows that mass-market prices will likely stay supported in FY 2012 and we forecast prices...
Continue Reading • 27 Jun 2012
Shoebox units may grow 70 percent over next three years
By Romesh Navaratnarajah:From around 2,500 units, the number of completed shoebox homes could grow to 9,700 by 2015, according to Khaw Boon Wan, Minister for National Development. He added that 80 percent of shoebox units are located in the central region. In addition, OCBC Research noted that...
Continue Reading • 27 Jun 2012
Six levels of AA Centre to go up for sale
By Romesh Navaratnarajah: The first six levels of AA Centre (pictured) located at 336 River Valley Road have been put up for sale in an Expression of Interest (EOI). According to marketing agent Colliers International, interested buyers have until 7 August to submit their offers. The 14-storey...
Continue Reading • 27 Jun 2012
HUDC estate protests against fees
By Romesh Navaratnarajah: The management of Braddell View estate (pictured) has urged its residents to sign a petition calling for the reduction in fees that they’ll need to pay once the estate is privatised. They also sought the help of Member of Parliament Hri Kumar Nair to negotiate with...
Continue Reading • 25 Jun 2012
Big-ticket bungalow deals reasonably priced
By Romesh Navaratnarajah: Some big-ticket bungalow deals took place recently on Sentosa Cove (pictured) and the Good Class Bungalow (GCB) areas of mainland Singapore. One Singaporean bought a two-storey freehold bungalow with five bedrooms and a study at White House Park for S$24.8 million or...
Continue Reading • 25 Jun 2012
New condo launches expected to revive Jurong
By Romesh Navaratnarajah: A number of new projects are now in the pipeline that will provide residents in the Jurong and Lakeside areas with more housing options. For more than a year, there was no new condo launched in the vicinity despite a lot of buzz taking place in suburbs across the island....
Continue Reading • 25 Jun 2012