URA rules set to reduce house prices
Prices of landed homes in Kovan, Telok Kurau, and Joo Chiat are expected to fall by 10 to 20 percent after the Urban Redevelopment Authority (URA) announced new development guidelines, according to TODAYonline.The rules, which took effect last Thursday, imposed a minimum 1,000 sq m plot size for...
Continue Reading • 28 Nov 2011
Residential site at Chestnut Ave attracts 12 bids
The Urban Redevelopment Authority (URA) has closed the tender for a 99-year leasehold residential site at Chestnut Avenue.The 18,699.4 sq m land parcel attracted a total of 12 bids, reflecting “developers’ unfaltered confidence in the mass-market housing segment, such as the nearby...
Continue Reading • 25 Nov 2011
Private home sales fall 24.5% in Q3: DTZ
Demand for private homes in Singapore dropped in the third quarter of this year, as stock market volatility and global economic uncertainties affected purchase sentiment, according to DTZ Research. Private home transactions declined 24.5 percent quarter-on-quarter to 6,879 units in Q3 2011, as...
Continue Reading • 25 Nov 2011
Is Geylang a good place to invest?
Geylang is probably the last place in Singapore that any property investor would look at due to the bad reputation it has earned with its many massage parlours and sleazy nightlife.However, a study conducted by PropertyGuru revealed that Geylang offers good long term prospects for property...
Continue Reading • 25 Nov 2011
Over 350 units sold at Bedok Residences on day 1
CapitaLand sold over 350 of the 583 units at Bedok Residences on the same day it was launched, with 66 units snapped up within the first hour. The developer said it achieved an average selling price of around $1,350 psf for the project.“The strong sales numbers demonstrate that the queue...
Continue Reading • 24 Nov 2011
320 units sold at The Palette
Property developer City Developments Limited (CDL) announced that 320 of the 400 units released at The Palette condo in Pasir Ris have been sold.The 892-unit development was launched on 12 November, with units priced at an average early bird rate of S$870 psf. However, prices have since been...
Continue Reading • 24 Nov 2011
Toronto's LIFE Condominiums to be showcased in Singapore
Canadian property developers Chestnut Hill Homes and A2A Properties recently launched their first and exclusive residential project in Toronto, Canada, called LIFE Condominiums Designed by the acclaimed Quadrangle Architects, the mid-rise condominium development features 149 suites, which include...
Continue Reading • 24 Nov 2011
Students paid to queue outside Bedok project
Some 500 people had formed a long queue outside Bedok Residences since Sunday.Most of the people in the queue were students who were paid by property agents representing potential buyers keen on the project, said ERA, the appointed marketing agent for Bedok Residences.It added that only those...
Continue Reading • 24 Nov 2011
Singapore a property hotspot for Malaysian investors
More Malaysians are looking to invest abroad, with Singapore as a hot property destination, according to Malaysia’s leading property portal, HomeGuru, in its latest quarterly consumer sentiment survey.24 percent of the over 2,800 respondents expressed interest in investing overseas, with...
Continue Reading • 24 Nov 2011
Capitol Development set to push the luxury envelope
A consortium comprising Perennial (Capitol) Ltd, Chesham Properties Ltd and Top Property Investment Ltd held a ground-breaking ceremony to mark the commencement of Capitol Development, which includes the redevelopment of the Capitol Theatre, Capitol Building and Stamford House conservation sites...
Continue Reading • 23 Nov 2011
Long queue for CapitaLand's Bedok Residences
CapitaLand, Southeast Asia’s largest property developer, will only launch its latest condo project tomorrow, but a long queue has already started forming outside the project's showflat since Sunday.Located in Bedok Town Centre, Bedok Residences is part of a 15-storey integrated...
Continue Reading • 22 Nov 2011
Unit at The Marq hits new price record
Once again, property developer SC Global Developments has set a new record price at The Marq on Paterson Hill, selling a 3,003 sq ft, four-bedroom apartment in the Premier Tower for about S$20.5 million (S$6,850 psf).This surpassed the previous record set in August for S$6,394 psf, which in turn...
Continue Reading • 21 Nov 2011
Waterfront destination officially opens in Punggol
Some 2,000 residents in Singapore’s north-eastern region visited the newly opened Punggol Point Park for the first time yesterday morning, officially launched by Deputy Prime Minister Teo Chee Hean.Located near Punggol jetty, Punggol Point Park comprises a children’s playground,...
Continue Reading • 21 Nov 2011
Pre-war flats at Tiong Bahru now cost S$1m
The days of good bargains in Tiong Bahru are over, as a 1,000 sq ft pre-war flat that cost around S$680,000 three years ago is now priced at around S$1 million.The significant price increase is primarily attributed to the transformation of the once-sleepy neighbourhood into a popular residential...
Continue Reading • 21 Nov 2011
New expressway may devalue nearby homes
Construction zones at the North-South Expressway (NSE) could harm rents and values of nearby properties during the building phase.The Straits Times noted that traffic diversions, noise and dust could devalue nearby properties by between three and five percent, as prospective buyers tend to avoid...
Continue Reading • 18 Nov 2011
Dragon Mansion sold in collective sale for S$130m
Dragon Mansion, an 18-storey residential development at 14 Spottiswoode Park Road, has been sold to Spottiswoode Development Pte Ltd, a joint venture (JV) company between Lian Beng Group and Centurion Properties Pte Ltd, for S$130 million.Jones Lang LaSalle (JLL), which brokered the deal, said...
Continue Reading • 18 Nov 2011
Coronation Grove re-launched for sale
Coronation Grove, a 24-unit walk-up apartment in District 10, has been re-launched for sale, with the owners having lowered their asking price.“After the last unsuccessful tender exercise called for in March 2011, the owners have agreed to lower their price expectations so that it is more...
Continue Reading • 17 Nov 2011
URA releases sales conditions for Rangoon/Farrer Park hotel site
The Urban Redevelopment Authority (URA) has released detailed sales conditions for a hotel site at the junction of Rangoon Road and Farrer Park Station Road.The land site is available for sale under the reserve list of the H2 2011 government land sales (GLS) programme.Conveniently located above...
Continue Reading • 16 Nov 2011
Property sales volumes in Asia Pacific rise 18%
Property sales volumes in the Asia Pacific region rose 18 percent year-on-year to US$96.8 billion (S$125.4 billion) as of 30 September 2011, according to the latest quarterly report by the Asia Pacific Real Estate Association (APREA) and Real Capital Analytics (RCA).Quarter-on-quarter, real...
Continue Reading • 16 Nov 2011
Yishun residential site attracts 8 bids
The tender for a 99-year leasehold site at Yishun Avenue 1/Miltonia Close was closed yesterday, with a total of eight bids received.A consortium comprising T G Development Pte Ltd and Master Contract Services Pte Ltd submitted the highest bid of S$138.9 million.S L (Serangoon) Pte Ltd offered the...
Continue Reading • 16 Nov 2011