Little interest seen at Knight Frank auction
Knight Frank’s monthly property auctions got off to a quiet start to the year yesterday, with six properties on offer but without a single bid.However, Sharon Lee, Head of Residential Auctions at Knight Frank, remains optimistic about the auction market. She does not believe this will be a...
Continue Reading • 20 Jan 2012
Govt releases two residential sites for sale
The Urban Redevelopment Authority (URA) and Housing Development Board (HDB) have released two residential sites at Hillview Avenue and Upper Serangoon View/Upper Serangoon Road for sale. The two sites were made available for sale under the Confirmed List of the H12012 Government Land Sales (GLS)...
Continue Reading • 19 Jan 2012
Cooling measures may need tweaking, says Far East
The 10 percent additional buyer’s stamp duty (ABSD) for foreigners is ‘a very big number’, according to Philip Ng, CEO at Far East Organization (pictured), noting that the recent property cooling measures may need to be calibrated, based on how persistently sales volumes drop.Ng...
Continue Reading • 19 Jan 2012
Over 160 units at Watertown snapped up in preview
Within just five hours yesterday, over 160 of the 250 units released were sold at the preview of Watertown, the first integrated waterfront residential and retail development in Singapore. Almost 90 percent of the buyers were Singaporeans, with the SOHO Apartments and Suites receiving the most...
Continue Reading • 19 Jan 2012
Kovan residential site draws 11 bids
Suburban residential sites continue to receive strong interest despite the latest round of cooling measures as well as wider economic uncertainty.The public tender for a residential site at the corner of Kovan Road and Simon Road has attracted 11 bids, with a consortium comprising Hoi Hup Realty...
Continue Reading • 19 Jan 2012
Watertown to launch this Chinese New Year
Property developers Far East Organization, Frasers Centrepoint Limited and Sekisui House, Ltd. are ushering in Chinese New Year with the joint launch of the 992-unit Watertown. Located in Punggol Central and boasting scenic views of the Punggol Waterway, the project will be Singapore’s...
Continue Reading • 18 Jan 2012
Prices of units at Watertown reduced 5-8%
Recent news that private home sales fell a drastic 63 percent month-on-month in December due to the new cooling measures has caused jitters among local property developers.Far East Organization announced yesterday that it has lowered prices for units at its newly unveiled Watertown, a 992-unit...
Continue Reading • 18 Jan 2012
Two residential sites sold for S$796.1m
Two residential sites at Mount Vernon Road and Jalan Lempeng have been sold separately for a total of S$796.1 million.The first parcel, located at Mount Vernon Road, was sold to a consortium comprising Intrepid Investments Pte Ltd, Sunmaster Holdings Pte Ltd and TID Residential Pte Ltd, after...
Continue Reading • 17 Jan 2012
Private home sales drop to lowest level in two years
Private home sales in December dropped to its lowest level in two years, after the government imposed new cooling measures to curb Singapore’s red-hot property market.According to data released by the Urban Redevelopment Authority (URA), the total number of units sold in December fell 64...
Continue Reading • 17 Jan 2012
S'pore home sales slow down as cooling measures bite
The implementation of the Additional Buyer's Stamp Duty (ABSD) to curb Singapore’s property market significantly affected home sales in December, as it dipped 63 percent month-on-month to 632 units sold, from 1,702 in November.“The initial impact of the ABSD is felt equally across all...
Continue Reading • 17 Jan 2012
Home buyers and sellers wary of market conditions
Although a healthy number of prospective buyers have been seen at showflats a week before the Chinese New Year, they prefer to be cautious and keep their options open.A Straits Times report revealed that despite the steady stream of home buyers flocking to showflats, very few units are being...
Continue Reading • 16 Jan 2012
Condo site at Jalan Lempeng draws S$408m top bid
The state tender for a condo site at Jalan Lempeng has attracted a total of eight bids, the highest being S$408 million (S$554.35 psf ppr) from Multi Wealth, a wholly-owned subsidiary of Malaysia’s IOI Properties.“The tender for the private non-landed residential site located on Jalan...
Continue Reading • 13 Jan 2012
PR converts apartment in Lucky Plaza into budget hotel
Following PropertyGuru’s report on a new HDB flat in Yishun being advertised as a “budget hotel”, a similar story has emerged, this time in the prime shopping and entertainment district of Orchard Road.According to a source, several private apartments in Lucky Plaza are being...
Continue Reading • 13 Jan 2012
New measures have already dampened property market
With 3,092 new homes sold from October to November, the residential market started Q4 2011 “on a strong note”, with new home sales for the first 11 months hitting 15,393 units, before the new set of cooling measures were introduced in December, according to CBRE in its latest...
Continue Reading • 13 Jan 2012
Overwhelming response seen for The Nautical
The Nautical, a 435-unit condo project along Sembawang Road, has received overwhelming response from buyers, with 136 (68 percent) of the 200 units released snapped up.“Buyers who bought units at The Nautical are more than convinced that there is hardly similar property with the same...
Continue Reading • 12 Jan 2012
CDL plans more launches after good show by The Rainforest
City Developments Ltd (CDL) has sold 150 units on the first day of sales for The Rainforest, its executive condominium (EC) project in Choa Chu Kang, at an average price of S$730 psf.All five percent of the project’s 466 units allocated for second-time home buyers in the first month of its...
Continue Reading • 12 Jan 2012
Royalville condo once again for sale
Royalville, a freehold development site on Bukit Timah Road, is back on the market for a second time, with an indicative price of between S$320 million and S$370 million.In its last tender exercise in July 2011, the asking price for the 93-unit four-storey condo was between S$370 million and...
Continue Reading • 11 Jan 2012
Mt Vernon Road residential site draws few bids
The public tender for a residential site at Mount Vernon Road received only five bids, as developers remain cautious after the additional buyer's stamp duty (ABSD) was implemented last month.“Response to the tender of the residential site at Mount Vernon reflects the cautious attitude of...
Continue Reading • 11 Jan 2012
Hougang DBSS gets lukewarm response
Less than twice as many applications as units were seen in the latest DBSS project in Hougang, as applications for units closed yesterday. The 680-unit Parkland Residences, which features three- to five-room units, had received 956 applications as of yesterday evening.The response was a little...
Continue Reading • 11 Jan 2012
Overwhelming majority of PRs are HDB owner-occupiers
The Ministry of National Development (MND) has revealed that over 95 percent of permanent residents (PRs) who own HDB flats are owner-occupants.This was made known in Parliament after MP for Ang Mo Kio GRC, Ang Hin Kee, asked if PRs are required to occupy the flats they own.PRs in Singapore can...
Continue Reading • 10 Jan 2012