S'pore home prices to drop 20%: Morgan Stanley
Residential property prices in Singapore are expected to drop 20 percent, according to a report by Morgan Stanley Research.Though sales of new homes have been holding up well, with 1,632 units sold in October, it was observed that the bulk of transactions came from the Outside Central Region...
Continue Reading • 8 Dec 2011
Luxury developers to be greatly affected by new measures
While the new government measures could make private homes. more affordable to Singaporeans, it is expected to affect prices and sales volumes. Many developers have since come forward to call the new rule untimely.Effective today, corporate entities and foreigners acquiring private homes in...
Continue Reading • 8 Dec 2011
Over 100 units sold at Archipelago preview
Property developers UOL Group and Singapore Land have witnessed strong take-up at their joint condo development, Archipelago. The consortium sold slightly more than 100 of the 190 units released for preview sales, which began last Friday.With an average price of S$1,000 psf, the five-storey...
Continue Reading • 7 Dec 2011
Residential site at Alexandra Rd attracts 7 bids
The tender for a residential site along Alexandra Road was officially closed yesterday, with a total of seven bids received.A consortium comprising Sunmaster Holdings Pte Ltd, Intrepid Investments Pte Ltd and Garden Estates (Pte) Limited, submitted the top bid of S$396 million (S$754.38 psf...
Continue Reading • 7 Dec 2011
Prices at new Far East project surprise many
Yesterday, PropertyGuru reported that Far East Organization (FEO), one of Singapore’s leading property developers, had pushed forward the official launch of The Scotts Tower (TST) from today, after strong response at its preview, which began on 25 November.While the project has already seen...
Continue Reading • 7 Dec 2011
New launches in 2011 may break 10-year record
The number of new private homes in 2011 may be the highest in 10 years, after new launches surged recently. Experts predict that around 18,300 new homes could be released this year, outpacing last year’s 16,500 (the highest in a decade so far) and easily beating the 9,900 annual average...
Continue Reading • 6 Dec 2011
Far East advances launch of The Scotts Tower
The official launch of Far East Organization’s The Scotts Tower (TST) will be pushed forward to tomorrow, after witnessing strong response during its preview, which began on 25 November.Of the initial 56 units, 34 one- and two-bedroom apartments were snapped up during the sales preview....
Continue Reading • 6 Dec 2011
Exclusive homes by YTL for sale early next year
YTL Corp’s luxury housing project on Orchard Boulevard will be sold in the first half of 2012, more than four years after the developer acquired the site.Converted from an old apartment building purchased for S$435 million in 2007, the project will have 78 units targeting wealthy Asian...
Continue Reading • 5 Dec 2011
First, shoebox homes...now its hotels
Singapore’s hotel industry is seeing a new trend with the rise of shoebox hotel rooms.With an increasing number offered at mid-tier hotels, shoebox hotel rooms each feature a bathroom, tasteful finishes and a television set — all at a much cheaper rate.Surprisingly, it has become an...
Continue Reading • 5 Dec 2011
New sports hub opens at Jurong
Jurong is the first town to benefit from HDB’s Neighbourhood Renewal Programme (NRP), with a new sports hub near Blocks 111 to 118 and 120 to 126 Bukit Batok West Avenue 6/Central. The new Sports Hub, which caters to various leisure and sporting activities for all groups, highlights...
Continue Reading • 5 Dec 2011
Luxury home sales drop this year
The number of transactions in Singapore’s luxury residential market, including bungalows in Sentosa Cove and upmarket condos/apartments in choice districts, has dropped this year, according to Savills.However, it noted that shares of non-PR foreigners have surged in both categories of...
Continue Reading • 5 Dec 2011
URA launches white site at Thomson Road/Irrawaddy Road
The Urban Redevelopment Authority (URA) has announced detailed sales conditions for a white site at Thomson Road/Irrawaddy Road.The 6,676.8 sq m subject land parcel was made available for application under the reserve list of the 2H 2011 Government Land Sales (GLS) Programme. Located in an...
Continue Reading • 1 Dec 2011
Archipelago preview tomorrow
Archipelago @ Bedok Reservoir, a 577-unit development featuring a combination of condo units and strata houses, is set to preview tomorrow.To be launched in phases, the first phase will comprise between 180 and 200 units and will fetch an average price of between S$1,000 psf and S$1,100...
Continue Reading • 1 Dec 2011
URA, HDB launch 3 residential sites for sale
The Urban Redevelopment Authority (URA) and Housing Development Board (HDB) launched three residential sites for sale via public tender yesterday.Situated along Mount Vernon Road, Jalan Lempeng and Kovan Road/Simon Road, the land parcels were released for sale under the confirmed list of the 2H...
Continue Reading • 30 Nov 2011
Private resale home prices flat in October
Resale prices of private homes in Singapore rose slightly last month but the overall trend suggests a period of flat values.Flash figures from the Singapore Residential Price Index (SRPI) showed that prices of resale homes climbed 0.9 percent in October, recovering from a 0.1 percent drop in...
Continue Reading • 30 Nov 2011
2 GCBs sold at surprisingly high prices
Two good-class bungalows (GCBs), one in Tanglin Hill and the other in Victoria Park Road, have been sold for a total of S$105 million.According to The Strait Times, both properties were acquired by Singaporeans. The two-storey Tanglin Hill bungalow was sold for S$57 million (approximately S$1,648...
Continue Reading • 29 Nov 2011
New flyovers to open in December
Two new flyovers connecting traffic between the CTE and PIE will open next month. On 3 December, the southbound CTE flyover towards the city will open from 3am, while the northbound flyover will open on 17 December from 6am.The Land Transport Authority (LTA) said the opening of the two flyovers...
Continue Reading • 29 Nov 2011
Non-landed private home prices rise 0.9%
Prices of non-landed private homes in Singapore climbed 0.9 percent in October 2011, according to the monthly Singapore Residential Price Index (SRPI) compiled by the National University of Singapore (NUS).The index, which tracks month-on-month prices of completed projects in the country,...
Continue Reading • 29 Nov 2011
Bleak outlook for Singapore property
Singapore’s property sector may soon face difficult times, as Standard Chartered Bank’s latest report has stated a bearish outlook for the market.According to the bank’s analysts, prices and rents of residential properties in Singapore will drop by 30 percent over the next three...
Continue Reading • 28 Nov 2011
Olina Lodge goes en bloc again
Olina Lodge, a freehold property located at 15 Holland Hill, has been re-launched for collective sale with an indicative price of S$220 million.This translates to S$1,544 psf ppr, including 10 percent balcony space, according to property consultant DTZ, the sole marketing agent.It added that the...
Continue Reading • 28 Nov 2011