ABSD brings in S$110m
A total of S$110 million was collected between 8 December 2011, when the government first started to collect ABSD (additional buyer’s stamp duty), to 31 March this year. Of the total sum, S$66.2 million were accounted for by foreigners who acquired 369 private homes in a span of about four...
Continue Reading • 13 Apr 2012
2 GCBs sold for whopping S$91.6m
Two freehold Good Class Bungalows (GCBs), one at Ridout Road and the other at Binjai Park, were recently sold for a combined total of S$91.6 million. According to The Business Times, the two-storey bungalow at Ridout Road changed hands for S$60.6 million, while the property at Binjai Park is said...
Continue Reading • 13 Apr 2012
Loss of foreign talent affecting private property rentals
With a growing number of senior executives from the expatriate community leaving Singapore, some prime locations are seeing a drop in asking rentals. Based on data compiled by The PropertyGuru, the most notable fall in median asking rental prices was seen in District 4 (Harbourfront / Telok...
Continue Reading • 13 Apr 2012
Price gap between mass market, city homes narrowing
The price gap between private homes in the mass market and Core Central Region (CCR) is narrowing, with market watchers saying the gap has narrowed to just above 60 percent in Q1 2012 compared to 108 percent in Q2 last year.This is due to mass market homes recording price increases at a much...
Continue Reading • 12 Apr 2012
Private home sales remain strong: DBS
If showflat visits are anything to go by, the residential market is doing well in terms of sales.According to DBS, take up of new units at recent showflat visits have been robust. Meanwhile, two new projects will be launched in the coming weeks. The report also noted that there’s strong...
Continue Reading • 12 Apr 2012
Pasir Ris residential site attracts bullish bids
A total of nine bidders have contested a state tender for a residential site in Pasir Ris (pictured), with Elitist Development offering the highest bid of S$165.89 million, which works out to around S$472 psf ppr.“The nine bids garnered by the site show developers’ keen interest in...
Continue Reading • 12 Apr 2012
Sky Habitat and Katong Regency to attract strong interest: DBS
With their strategic location next to MRT stations, CapitaLand’s Sky Habitat and UOL’s Katong Regency are expected to attract relatively strong interest from buyers during their respective launches.According to DBS, pre-marketing for both developments showed that “indicative...
Continue Reading • 11 Apr 2012
Cavenagh Gardens up for collective sale
Cavenagh Gardens (pictured), a freehold apartment block in District 9, has been put up for en bloc sale with an indicative price of between S$460 million and S$480 million.This works out to between S$1,708 psf ppr and S$1,782 psf ppr excluding balcony allowance, or around S$1,553 psf ppr to...
Continue Reading • 10 Apr 2012
Nearly 9,000 HDB flats sold as a result of divorces
Around 8,900 HDB flats were sold between 2008 and 2011 as a result of divorces, according to Minister for National Development Khaw Boon Wan.Khaw said this in response to queries from Muhamad Faisal Abdul Manap regarding the number of HDB matrimonial homes sold as a result of divorce.Khaw also...
Continue Reading • 10 Apr 2012
OCR and HDB prices up in Q1: OCBC
Although private home prices generally declined in the first quarter, Outside Central Region (OCR) and HDB prices tell a different story. In Q1 2012, private home prices eased 0.1 percent quarter-on-quarter, which pushed a rebound in sales for February, the highest since July 2009. On the other...
Continue Reading • 10 Apr 2012
109 units at FEO's Hillsta project snapped up
109 units at the Hillsta project (pictured) in Choa Chu Kang were snapped up during its launch on Thursday. Developer Far East Organization (FEO) said that around 90 percent of the buyers for the Japanese-inspired development were Singaporeans. Hillsta, a joint venture (JV) between FEO, Sekisui...
Continue Reading • 10 Apr 2012
S'pore residential market looks strong: CBRE
The residential sector has seen a strong response to selected new projects, pushing the private home sales volume to 5,200 units, driven partly by a large supply of about 5,500 new homes for sale in the quarter, as well as high liquidity and low interest rates, according to CBRE Research....
Continue Reading • 9 Apr 2012
Developers in a rush to launch new projects
Developers are rushing to launch new projects to take advantage of the strong demand seen in the primary home sales market, according to a report by The Business Times. “Developers know this trend cannot be sustained, especially when you have HDB launching (so many units),” said Ku...
Continue Reading • 9 Apr 2012
ERA's marketing of Sky Habitat breaks rules
In their rush to lure buyers before the official launch of the Sky Habitat condo (pictured), it appears that some marketing agents from ERA Realty have violated certain guidelines.A spokesperson from the Land Transport Authority (LTA) said they spotted several banners on Sky Habitat along public...
Continue Reading • 9 Apr 2012
Fernvale EC site awarded for S$245m
The Housing and Development Board (HDB) has announced the final tender results for a land parcel at Fernvale Lane (pictured) which was released in February. Property developer Peak Living Pte. Ltd won the bid for the 99-year leasehold site at S$245 million. The 21,999.90 sq m plot is slated for...
Continue Reading • 9 Apr 2012
Asian investors to remain active in property investment market
The first quarter of the year has seen total real estate investment sales drop to S$4 billion, 49 percent lower than the previous quarter and 53 percent less than the whole of 2011. According to a report by CBRE Research, weaker sentiment in the global capital markets, along with recent...
Continue Reading • 5 Apr 2012
Residential auction market cools down
Interest in residential property auctions fell in the first quarter of this year, from 14 in 2010 and five in 2011 to just one in the last quarter. Out of the 84 properties put up for auction in Q1, three were sold — one of which was a residential property, while the other two were a...
Continue Reading • 5 Apr 2012
Bungalow market gaining momentum
Although the bungalow market opened the year on a quiet note, activity is now starting to look more favourable, according to a report by The Business Times. In the GCBA (Good Class Bungalow Area) segment, a two-storey bungalow located at Bishopsgate was sold for S$27 million, which works out to...
Continue Reading • 5 Apr 2012
Gardens by the Bay set for June unveiling
Gardens by the Bay (pictured) will make its long-awaited debut on 29 June, with the opening of Phase One which includes the 54-ha Bay South Garden and two cooled conservatories.The development comprises three waterfront gardens that are expected to be fully open by 2015. It includes the Bay...
Continue Reading • 5 Apr 2012
Property investment activity down 50% in Q1: DTZ
Property investment activity in Singapore fell 50 percent in the first quarter to S$3.7 billion, from S$7.4 billion the previous quarter, according to the latest report by DTZ Research.The sudden decline in real estate investment activity was mainly attributed to a weaker property market, rising...
Continue Reading • 4 Apr 2012