Developers still selling unsold units from older launches
By Romesh Navaratnarajah:A number of developers are aggressively promoting their unsold units from previous launches; offering buyers with attractive discounts. Over the weekend, Bukit Sembawang offered 19 units at Paterson Suites, a high-end condo at Paterson Road that was completed in 2010....
Continue Reading • 24 Apr 2012
2 residential sites go en bloc
By Romesh Navaratnarajah:Following the collective sale launches of Harbour View Gardens and Green Lodge last week, two more sites, Kemaman View and Thomson View Condominium (pictured), went en bloc yesterday. Kemaman View is a freehold residential development located at Jalan Kemaman off...
Continue Reading • 24 Apr 2012
More buyers backing out of property deals
By Romesh Navaratnarajah:Buyers of around 107 new homes changed their minds last month and returned the units to developers, according to a Goldman Sachs report. In addition, the global financial services firm said that 100 homes were returned in February. The report noted that the...
Continue Reading • 23 Apr 2012
Katong Regency is 70% sold out
By Romesh Navaratnarajah:An overwhelming 70 percent of units at UOL Group’s Katong Regency (pictured) were snapped up on the first day of its launch, despite the high prices. The developer noted that at least 170 options in the mixed-use development were issued to buyers. Of these, bigger...
Continue Reading • 20 Apr 2012
BRDB showcases two Kuala Lumpur premier projects
By Romesh Navaratnarajah:Malaysian developer Bandar Raya Developments Berhad (BRDB) is set to showcase two prime residential properties from Kuala Lumpur at the Regent Hotel Singapore this weekend (21 to 22 April), from 10am to 6pm. The first project called 6 CapSquare (pictured) is a...
Continue Reading • 20 Apr 2012
Foreign home buying plunges 78%
By Romesh Navaratnarajah:The number of private homes acquired by foreigners excluding PRs (permanent residents) plunged 78 percent to just 293 homes in the first quarter, from 1,358 in Q4 last year, with the additional buyer’s stamp duty (ABSD) hitting the market hard, according to caveats...
Continue Reading • 20 Apr 2012
Analysts warn of shoebox oversupply
By Romesh Navaratnarajah:Although shoebox apartments promise high capital gains and rental returns, analysts warn that a looming oversupply could have a negative impact on investments. Shoebox units, which are no more than 500 sq ft, are currently very popular, contributing to strong demand in...
Continue Reading • 19 Apr 2012
Property investment sales see massive dip in Q1
By Romesh Navaratnarajah:Singapore’s property investment sales market suffered in the first quarter of 2012, dropping 45.9 percent to S$4.97 billion during the period, from S$9.18 billion in Q4 2011, according to Colliers International.“This came about as investors retreated to the...
Continue Reading • 19 Apr 2012
Green Lodge up for en bloc again
By Romesh Navaratnarajah:Green Lodge (pictured), a freehold property at Toh Tuck Road, has been re-launched for collective sale with an indicative price of S$195 million. Marketed by DTZ, this is the third time that the site has been put up for sale, after the first two attempts in 2009 and 2011...
Continue Reading • 19 Apr 2012
New cooling measures looming, say brokers
By Romesh Navaratnarajah:The government is expected to implement a new set of cooling measures following the recent surge in private home sales, particularly in the mass market segment, according to brokers.“The bulk of the strong volumes represent demand for small mass market units that...
Continue Reading • 18 Apr 2012
SC Global unveils high-end development
By Romesh Navaratnarajah:Luxury property developer SC Global Developments has announced plans to develop another prestigious project in the exclusive Ardmore Park area.Dubbed Sculptura Ardmore (pictured), the 36-storey freehold project at 8 Ardmore Park will comprise 35 high-end units ranging...
Continue Reading • 18 Apr 2012
Harbour View Gardens launched for en bloc sale
By Romesh Navaratnarajah:Harbour View Gardens (pictured), a three-storey residential project at Pasir Panjang Road is up for collective sale, according to Colliers International.With a total of 14 units, the property sits on a 30,745 sq ft freehold site and includes seven walk-up apartments with...
Continue Reading • 18 Apr 2012
Katong Regency set for Thursday launch
By Romesh Navaratnarajah:Property developer UOL Group is set to launch its latest freehold mixed development this Thursday.Called Katong Regency (pictured), the 244-unit project is located on the former site of Lion City Hotel and Hollywood Theatre along Tanjong Katong Road. It comprises three...
Continue Reading • 18 Apr 2012
URA to launch Boon Lay residential site for sale
By Romesh Navaratnarajah:The Urban Redevelopment Authority (URA) is planning to launch a residential site at Boon Lay Way (pictured) for sale, after a developer committed to bid a minimum of S$214.7 million. “As the minimum price committed by the developer is acceptable to the government,...
Continue Reading • 17 Apr 2012
Govt releases 6 residential sites for 2380 homes
By Romesh Navaratnarajah:The Housing and Development Board (HDB) and Urban Redevelopment Authority (URA) will release six new residential sites this month, providing more housing choices to home buyers in Singapore.The 99-year leasehold sites could yield a total of 2,380 homes as part of the...
Continue Reading • 17 Apr 2012
March another good month for private home sales
By Romesh Navaratnarajah:New private home sales in Singapore hit a high of 3,032 units in March, just three percent short of the record 3,138 homes sold in the previous month. Excluding executive condos (ECs), the sales volume reached 2,393. Data released today by the Urban Redevelopment...
Continue Reading • 16 Apr 2012
Tender for Pasir Ris residential site awarded to Elitist Development
By Romesh Navaratnarajah:A 23,322 sq m site at Pasir Ris (pictured) has been awarded to Elitist Development Ltd after it offered the highest bid of S$165.89 million in a public tender that closed last Friday, said the Housing and Development Board (HDB). Located at the junction of Pasir Ris Drive...
Continue Reading • 16 Apr 2012
Indonesian billionaires still buying up homes in Singapore
By Romesh Navaratnarajah: The additional buyer’s stamp duty (ABSD) is not stopping ultra-rich foreigners from snapping up luxury homes in the country.Many Indonesian billionaires are still keen on properties in Singapore, lured by what they see are accommodating regulations for foreign...
Continue Reading • 16 Apr 2012
Sky Habitat units snapped up at weekend launch
By Romesh Navaratnarajah: CapitaLand’s Sky Habitat, a huge 99-year leasehold condo development designed by world-renowned architect Moshe Safdie, has seen strong public response with 125 units snapped up as of 6pm yesterday.Located at Bishan Central, units were sold at an average price of...
Continue Reading • 16 Apr 2012
Drop in sales of new high-end homes: JLL
Compared to the robust resale property market, new high-end homes are attracting relatively fewer buyers, according to property consultancy Jones Lang LaSalle (JLL).Of the 192 caveats lodged for non-landed resale homes in Q1 2012, only 30 new units were sold by developers, notably the most...
Continue Reading • 13 Apr 2012