URA, HDB launch 4 residential sites
The Housing and Development Board (HDB) has released two new executive condominium (EC) sites located at Tampines Central 7 and Woodlands Avenue 5 under the confirmed list for H1 2012.Together, the 99-year leasehold sites could yield 1,300 EC units. The Woodlands and Tampines plots are 25,800 sq...
Continue Reading • 16 Mar 2012
Private home sales hit new high
Despite the gloomy economic outlook and recent cooling measures, private home sales in February remained strong and set a new record with transactions hitting 3,138 units including executive condominiums (ECs).Data from the Urban Redevelopment Authority (URA) revealed that excluding ECs, the...
Continue Reading • 15 Mar 2012
Major property deals slow to a trickle
Property investment sales for this quarter so far have plunged to a two-year low of about S$3.4 billion as of 12 March 2012, but Q1 figures could still rise to around S$3.8 billion, according to Savills Singapore.The 12 March tally is notably 57 percent lower than Q4 2011’s S$7.7 billion...
Continue Reading • 14 Mar 2012
GCB asking price sets new record
Earlier this month, a sea-facing bungalow in Sentosa Cove was transacted for a record S$39 million but the property is far from being the most expensive landed home in Singapore.According to an article on AsiaOne, the costliest home for sale is said to be a five-bedroom good class bungalow (GCB)...
Continue Reading • 13 Mar 2012
Developers' bids for sites indicate falling home prices
With concerns over a possible drop in private home prices of up to eight percent this year, many developers are becoming more cautious on how much they are willing to pay for private home sites.Deciding on the prices to offer for a plot on sale, developers need to take into account the possibly...
Continue Reading • 13 Mar 2012
Oxley Holdings' unit acquires Seletar Garden for S$96.2m
Oxley Holdings Ltd, through its wholly-owned subsidiary Oxley YCK Pte Ltd, has acquired Seletar Garden (pictured), a freehold mixed-use project comprising 20 apartment units and 10 shop units, for S$96.188 million through an en bloc sale.The price paid for the property was higher than the...
Continue Reading • 12 Mar 2012
Charlton Residences fully sold less than four months from launch
All 21 units at Charlton Residences (pictured) have been sold for a total sales value of S$59.6 million, less than four months after the freehold residential project was launched.Developed by SingXpress Land as its maiden project in Singapore, Charlton Residences is located near Kovan MRT...
Continue Reading • 12 Mar 2012
Global home prices to fall in 2012
The Knight Frank Global House Price Index (GHPI), which tracks the performance of mainstream home prices worldwide, showed that global home prices dropped in 60 percent of the countries tracked by the index.Knight Frank said if this trend continues to spread, the overall GHPI could fall into a...
Continue Reading • 9 Mar 2012
Developers' landbanks healthy amid strong sales
Although home sales have been robust, developers kept their land banks healthy with new land sites coming onstream. DTZ Research revealed that many developers have thousands of units in their landbanks. City Developments and its parent company Hong Leong Group own the biggest stock with...
Continue Reading • 9 Mar 2012
IRs having limited impact on home prices: report
The two Integrated Resorts (IRs) in Singapore have had limited impact on private home prices in the area, according to the latest report by DTZ Research. The consultancy said that following the opening of Resorts World Sentosa and Marina Bay Sands (pictured) – home prices in Sentosa and...
Continue Reading • 9 Mar 2012
Little-known company offers top bid for Hillview site
A little-known company owned by three Chinese nationals has offered the highest bid of S$243.22 million for the Hillview residential site tender that closed on 6 March 2012.Submitted by Kingsford Development Pte Ltd, the S$243.22 million bid works out to around S$638 psf ppr, well ahead of the...
Continue Reading • 8 Mar 2012
Hillview residential site awarded for S$243.2m
The Urban Redevelopment Authority (URA) has awarded the tender for a residential site at Hillview Avenue (pictured) to Kingsford Development Ltd, a little-known company owned by three Chinese nationals.Kingsford offered the top bid of S$243.22 million, which works out to around S$638 psf ppr,...
Continue Reading • 8 Mar 2012
KTC Group launches maiden property project
Construction company KTC Group has made its first venture into the real estate market with the launch of its maiden project, Summer Scent, a freehold residential development at the junction of Upper Serangoon Road and Hougang Avenue 2.Developed by KDC (Kovan) Development, Summer Scent offers 16...
Continue Reading • 8 Mar 2012
SOHO sell-out for Far East's PS100
Far East Organization’s third SOHO development and the first dedicated business SOHO under the brand, PS100, has sold all of its 100 strata office units in just one weekend at average prices of S$3,000 per sq ft.Located at the fast transforming Tanjong Pagar precinct of the Central Business...
Continue Reading • 5 Mar 2012
EC site in Upper Serangoon attracts top bid of S$141.5m
The tender for an executive condominium (EC) site at Upper Serangoon (pictured) attracted a total of seven bids, with a joint bid from Ho Lee Group and Evia Real Estate Management offering the highest offer at S$141.48 million.“The site drew seven bids, showing developers’ interest in...
Continue Reading • 2 Mar 2012
Top banker owned S$39m Sentosa Cove bungalow
The bungalow at Sentosa Cove (pictured) sold for a record S$39 million was once owned by Deepak Sharma, Chairman at Citi Private Bank and his wife Susan Lim, a well-known surgeon, reported The Business Times.The sea-fronting property achieved the highest selling price ever for a bungalow on...
Continue Reading • 2 Mar 2012
Fewer PRs buying landed homes
The number of permanent residents (PRs) buying landed homes in Singapore fell in 2011, as tough measures discouraged them from entering that segment of the real estate market.According to latest figures released by DTZ Research, PRs acquired 109 landed homes in 2011, down 53.6 percent from the...
Continue Reading • 1 Mar 2012
Sentosa Cove bungalow goes for record S$39m
A sea-fronting bungalow in Sentosa Cove (pictured) has smashed the price record, having been sold for S$39 million, the highest absolute price for a bungalow in the area. The new record beats the previous high of S$36 million for a Paradise Island bungalow back in 2010. That price translated to...
Continue Reading • 1 Mar 2012
Foreign buyers promised stamp duty ‘reimbursement'
Foreign property buyers in Singapore are being promised a ‘partial reimbursement’ of the additional buyer’s stamp duty (ABSD) which was introduced in early December 2011 in an attempt to curb overseas interest.Property developer Far East Organization is giving foreigners at its...
Continue Reading • 29 Feb 2012
99-year leasehold homes on freehold sites harder to en bloc
Residential units with a leasehold period of 99 years and built on a freehold site could be harder to sell in the collective sales market, according to experts.They noted that a collective sale for such property can only be attained through an agreement with the land owner, as the freehold rights...
Continue Reading • 29 Feb 2012