Foreign developers flock to Asia to boost sales
By Romesh Navaratnarajah:Overseas property developers are showing more interest in Asia, especially Singapore, in a move to boost their sales on the back of weak demand in their local markets. According to The Straits Times, foreign developers are looking to attract wealthy Asian investors who...
Continue Reading • 14 May 2012
Chinese property developers target Singapore buyers
By Andrew Batt: EXCLUSIVE: More Chinese property developers will be targeting Singaporean property buyers and investors in the coming months, heralding the start of a new wave of property investment opportunities within Asia for local buyers.The second property exhibition featuring commercial...
Continue Reading • 14 May 2012
Singapore buyers 'invading' London
By Romesh Navaratnarajah:Local property hunters are showing more interest in buying properties in central London, with analysts pointing to rising rents and good capital values as contributing factors. A Straits Times report highlighted that Singaporeans accounted for over 3.5 percent of...
Continue Reading • 14 May 2012
URA reserve list site at Farrer Drive to launch for tender
By Romesh Navaratnarajah:A residential site at Farrer Drive (pictured) will be put up for sale in about two weeks under the reserve list, following a developer’s request to bid a minimum of S$88.89 million for the plot, according to the Urban Redevelopment Authority (URA). With an area of...
Continue Reading • 14 May 2012
Over 600 applications for 1 Canberra
By Romesh Navaratnarajah:Over 600 e-applications for the 665-unit 1 Canberra executive condo development (pictured) were recorded as balloting closed on Wednesday. The developer MCC Land expects the project to be oversubscribed “once the last person leaves the showroom,” said a...
Continue Reading • 11 May 2012
Tampines EC site draws S$233.5m top bid
By Romesh Navaratnarajah: An executive condominium (EC) site (pictured) near The Tampines Trilliant has received a top bid of S$233.5 million, which works out to around S$373.40 psf ppr. The joint bid was put up by Singxpress Property Development, Amara Holdings' Creative Investments and Kay Lim...
Continue Reading • 11 May 2012
Overseas property buyers are spoilt for choice
By Andrew Batt:There’s absolutely no doubt that Singaporeans’ love affair with overseas property is continuing unabated.This weekend alone there are 10 property exhibitions in the city, tempting buyers and investors to part with their money for a diverse range of property investment...
Continue Reading • 11 May 2012
Shoebox homes get space-saving features
By Romesh Navaratnarajah:Shoebox units, which are no more than 500 sq ft in size, are gaining in popularity with home buyers, given their lower prices. In fact the URA (Urban Redevelopment Authority) has forecast supply of small units to grow to 8,200 by end-2015 from just 2,400 presently. ...
Continue Reading • 10 May 2012
Fancy a free condo stay in Kovan?
By Romesh Navaratnarajah:Koh Brothers Development, a wholly-owned subsidiary of Koh Brothers Group Limited, is the first developer to launch a brand new lifestyle idea called ‘Concept Home’ at its Fiorenza project (pictured) in Kovan, which will be enjoyed by one lucky family for six...
Continue Reading • 9 May 2012
High-end market on a downward spiral?
by Cheryl TaySluggish demand for high-end homes has lowered developers’ profits of late. If this trend continues, the luxury market could eventually hit rock-bottom in the days to come.With prices of luxury homes expected to fall by 15 percent this year, foreign demand is expected to dry up...
Continue Reading • 9 May 2012
Sales at Eight Riversuites up to 200 units
By Romesh Navaratnarajah:United Engineers Limited (UEL) has sold around 200 units at its Eight Riversuites condo project (pictured) in Whampoa near Boon Keng MRT station, according to the latest report by The Business Times.It noted that the average price of the project, after discounts, is...
Continue Reading • 8 May 2012
Watercolours EC nearly twice oversubscribed
By Romesh Navaratnarajah:The newly launched executive condo (EC) development, Watercolours (pictured), has seen strong buyer interest and is nearly two times oversubscribed. Surpassing the 416 units that could be booked starting 1 June, e-applications have already totalled 807 as of yesterday,...
Continue Reading • 8 May 2012
Woodlands EC site awarded to China-based developer
By Romesh Navaratnarajah:The Housing and Development Board (HDB) has awarded a residential site (pictured) at the junction of Woodlands Avenue 5 and Woodlands Drive 16 to Hao Yuan Investment Pte Ltd. The Chinese firm offered the top bid of S$247 million, while the second highest offer came from...
Continue Reading • 8 May 2012
Strong week for private home sales
By Romesh Navaratnarajah:Approximately 325 new private homes were sold over the past week, amid property launches and rock bottom interest rates. 67 units were sold at Far East Organization’s 338-unit SeaHill in West Coast Link, taking total sales to 185 units since it was launched last...
Continue Reading • 8 May 2012
London's Chelsea Creek set for Singapore launch
By Romesh Navaratnarajah:UK developer St George will unveil Chelsea Creek (pictured), a new waterside project located at King’s Road, London, at an exhibition to be held at St. Regis Hotel, Singapore on 11 to 13 May.Designed by Squire and Partners, an award-winning architectural practice,...
Continue Reading • 7 May 2012
FLO Residence set to launch in Punggol
By Romesh Navaratnarajah:FLO Residence (pictured), a 530-unit condo development in Punggol is set to launch this month at an average price of S$850 psf.A joint-venture (JV) project between ZACD Investments Pte Ltd and Capital Development Pte Ltd, it is situated at Punggol Field Walk and is within...
Continue Reading • 4 May 2012
Mass market units see strong demand over Labour Day weekend
By Romesh Navaratnarajah:The long Labour Day weekend has paid off for many public and private projects in the country, with property buyers turning up at showflats in full force and snapping up units. For instance, the 447-unit Pasir Ris One DBSS (Design, Build and Sell Scheme) project was...
Continue Reading • 4 May 2012
Shoebox units pushing down the value of non-landed homes
By Romesh Navaratnarajah:The popularity of small apartments pushed down the total value of non-landed homes by 22 percent last year compared to 2010, according to the latest report by CBRE. A total of 13,611 caveats were lodged for new non-landed homes in 2011 amounting to S$16.568 billion,...
Continue Reading • 4 May 2012
Woodlands EC site attracts top bid of S$247m
By Romesh Navaratnarajah:The tender for a 99-year leasehold site (pictured) released by the Housing and Development Board (HDB) at the junction of Woodlands Avenue 5 and Woodlands Drive 16 has attracted a total of five bids, with China-based firm Hao Yuan Investment Ltd offering the top bid of...
Continue Reading • 4 May 2012
Outlook for luxury market worsens on weakening sales
By Romesh Navaratnarajah:There is now sluggish demand for luxury homes, following recent announcements by two developers – SC Global and Ho Bee that sales figures have dwindled. With weak profits recorded for its ready for occupancy projects, SC Global has warned of a loss of S$10 million...
Continue Reading • 3 May 2012