3 sites up for collective sale
Three freehold sites — Ming Arcade, Asia Gardens and Jade Towers (pictured) — were released in the collective sales market yesterday, with a total price tag of more than S$500 million.Located on 21 Cuscaden Road, Ming Arcade is a prime freehold commercial development off Orchard Road....
Continue Reading • 10 Jan 2012
The Rainforest EC attracts high number of applications
More than 800 online applications for City Developments Ltd’s (CDL) The Rainforest EC project were received as of 5pm yesterday, the last day of applications for eligible EC buyers.“We are receiving more e-applications progressively till the end of the day,” said a spokesman...
Continue Reading • 10 Jan 2012
Developers more cautious about condo site bids
As 2012’s first tender for a 99-year leasehold private condo site (at Mount Vernon Road) under the Government Land Sales (GLS) Programme closes today, the cautious bidding seen for Punggol Place, 2011’s last state tender, is expected to continue, according to a Business Times report....
Continue Reading • 10 Jan 2012
S'pore property prices to decline 12.5% in 2012
The prices of Singapore’s residential property will decline by 12.5 percent this year and a further 8 percent during 2013 according to a new report from Bank of America Merrill Lynch. “We maintain our view of a 2012 inflection point for residential pricing driven by excess supply,...
Continue Reading • 10 Jan 2012
Luxury home market to battle oversupply this year
The luxury home market will face a tough year ahead, thanks to the recent cooling measures and the possibility of an oversupply of new homes.As thousands of already launched units await buyers, developers may put off further launches until the market begins to pick up.Thankfully, interest rates...
Continue Reading • 9 Jan 2012
More foreigners snapping up resale ECs
Sales of completed executive condominiums (ECs) in Singapore’s resale market recorded increased interest from foreign buyers in the January - November 2011 period, according to a report in The Business Times.Property market research firm R'ST Research said foreigners, including PRs,...
Continue Reading • 9 Jan 2012
CDL launches The Rainforest, first EC for 2012
City Developments Limited (CDL) and TID Pte Ltd - a joint venture (JV) between Mitsui Fudosan and Hong Leong Group, have launched The Rainforest, the first executive condominium (EC) project this year.Located along Choa Chu Kang Avenue 3, the new EC offers 466 units comprising 818 sq ft...
Continue Reading • 9 Jan 2012
Govt curbs to weaken bungalow sales
Bungalow sales at Sentosa Cove are expected to fall in the coming months, in light of the 10 percent additional buyer’s stamp duty (ABSD) foreigners must bear when buying private homes in Singapore. Sentosa Cove bungalow prices, as a result, will likely moderate, causing prices of Good...
Continue Reading • 9 Jan 2012
Home prices and rents climb, but at slower pace
Private home prices and rents across all sectors continued to rise in 2011, albeit at a slower pace than in 2010, amid hefty cooling measures such as the seller’s stamp duty and reduction in loan-to-value (LTV) limit. The take-up for the year is projected to be similar to 2010.The average...
Continue Reading • 6 Jan 2012
Buyers return units for fear of price decline
Some units at major projects released in November and early December 2011 are being returned to their developers, possibly indicating a reflex reaction to the implementation of the additional buyer's stamp duty (ABSD), according to market watchers.A report by the Business Times revealed that...
Continue Reading • 6 Jan 2012
Real estate investments hit S$28.6b in 2011
Despite the global economic uncertainty last year, Singapore’s real estate investments hit S$28.6 billion, surpassing the S$27.9 billion recorded in 2010, according to property deals tracked by DTZ.The report only covered investments above S$5 million and excludes S$1.1 billion worth of...
Continue Reading • 5 Jan 2012
Slew of new projects to launch before CNY
Developers are jumpstarting 2012 with a slew of housing projects set to launch before Chinese New Year. Riversound Residence, a 99-year leasehold condominium, will be launched by Qingjian Group on Saturday, while City Developments Ltd (CDL) will open applications for The Rainforest, an executive...
Continue Reading • 5 Jan 2012
S'pore property market braces for cold year
The office sector is bracing for weaker demand over the next two to three years, according to DBS, in a Singapore Business Review report. Earnings growth will also slow down, as office rents correct and residential sales taper off, said the report.DBS expects a lower residential sales volume,...
Continue Reading • 5 Jan 2012
Parkland Residences DBSS launching tomorrow
Property firm Low Keng Huat (LKH) will unveil its latest DBSS project, Parkland Residences, this Friday.Located in Hougang, Parkland Residences offers 680 DBSS flats comprising three- to five-bedroom units, as well as five-room premium units, with a built-up area of 1,206 sq ft. Prices range from...
Continue Reading • 5 Jan 2012
Property auctions market still sluggish
Auctions are no longer an exit strategy for distressed properties, as sluggish mortgagee listings for Q4 2011 reached their lowest since Q1 2009.In contrast, Jones Lang LaSalle (JLL) Auction brokered the sale of a S$6.6 million commercial property two quarters earlier.As buyers may have placed...
Continue Reading • 4 Jan 2012
Rental market may get boost from cooling measures
The rental market may improve this year, as home buyers are likely to put off purchasing amid the recent cooling measures, said analysts. Over the next year, a larger pool of tenants might stabilise the rental market or cause a five percent increase in rents. This counters earlier expectations of...
Continue Reading • 4 Jan 2012
Private property price hike eases further in Q4
Although private home prices hit a record high last year, flash estimates released by the Urban Redevelopment Authority (URA) showed that prices of private homes in Singapore rose only 0.2 percent in Q4, down from 1.3 percent in Q3 2011.Many experts said the preliminary figures made up the...
Continue Reading • 4 Jan 2012
FEO's The Tennery sold out
All 338 units at The Tennery in Bukit Panjang have been sold, said developer Far East Organization (FEO).It noted that the small office, home office (Soho) apartment project was sold over the span of a year at an average price of S$1,200 psf. Over 80 percent of the buyers were Singaporeans and...
Continue Reading • 3 Jan 2012
Singapore's private home prices continue to moderate
The rate of increase for private home prices in Singapore has continued to moderate in the fourth quarter, reflecting the ninth consecutive price growth since Q4 2009, according to flash estimates released by the Urban Redevelopment Authority (URA) for the private residential property index.The...
Continue Reading • 3 Jan 2012
URA launches the Labrador Nature & Coastal Walk
The Urban Redevelopment Authority (URA) has officially launched The Labrador Nature & Coastal Walk – a 2.1km walk that features three distinct segments – Bukit Chermin Boardwalk, Berlayer Creek and Alexandra Garden Trail. The recreational project, conceptualised and developed by...
Continue Reading • 3 Jan 2012