Private property market bounces back in March
The Urban Redevelopment Authority (URA) monthly sales volume for private residential units rose 25.7 percent to 1,543 units in March, with Executive Condominiums (EC) comprising 10.2 percent or 157 units sold.“The pent-up demand sustained after the last round of cooling measures on 13...
Continue Reading • 18 Apr 2011
EC site attracts four bids
The Housing Development Board (HDB) has closed the tender for a residential site at Tampines Central 7, after receiving a total of four bids.Sim Lian Land offered the highest bid of S$278.8 million (S$4,224.24 psm), followed by Qingdao Construction (Singapore) Ltd, which offered S$243 million.A...
Continue Reading • 15 Apr 2011
S$977b recorded in Q1 property investment sales
Singapore’s property investment sales in the first quarter amassed S$977 billion, with the residential sector contributing a total of S$970 billion, according to Colliers International.The commercial brokerage firm said this represents 37.8 percent of the total transactions recorded in the...
Continue Reading • 15 Apr 2011
Commercial property looking attractive for the world's wealthy
Commercial real estate is one of the top two assets, along with equities, that wealthy individuals and their investment advisers are targeting for investment this year, according to a study published by property consultancy firm Knight Frank and Citi Private Bank.The study showed that wealthy...
Continue Reading • 13 Apr 2011
Hedges Park to launch this week
Tripartite Developers, a joint venture (JV) company between City Developments, Hong Leong Group and TID, are expected to start marketing its Hedges Park condominium project along Upper Changi Road later this week.According to market analysts, the average price of units at the 99-year leasehold...
Continue Reading • 13 Apr 2011
Movenpick soft launches hotel in Singapore
Mövenpick Hotels & Resorts has announced the soft launch of Mövenpick Heritage Hotel Sentosa, its first property in Singapore, with the grand opening scheduled for the end of the year.“We are thrilled to be entering the Singapore market. By creating a unique hotel that manages...
Continue Reading • 12 Apr 2011
Bendemeer Road site sold for S$543m
United Engineers Developments Ltd (UE) has acquired a land parcel at the junction of Bendemeer Road and Whampoa East, after offering the highest bid of S$543 million (S$774 psf) in a public tender that closed on 7 April.UE said it plans to develop an inner-city waterfront condo comprising 700...
Continue Reading • 12 Apr 2011
Pearlbank back on sale again
Pearlbank Apartments, a 37-storey development on Pearl’s Hill near Chinatown, has been offered for en bloc sale with an indicative price of S$750 million.This is the third time the 99-year leasehold development has been launched for en bloc sale. It was last marketed in 2008 at ...
Continue Reading • 12 Apr 2011
Corporate buyers avoiding residential properties
Real estate consultancy firm Cushman and Wakefield has revealed that non-landed private home sales dropped by 62 percent to 133 transactions in Q1, from 350 transactions in the preceding quarter.Some experts believe the data indicates that the Government’s tough property cooling measures...
Continue Reading • 11 Apr 2011
Cairnhill Mansions up for collective sale
Cairnhill Mansions, a freehold residential site in District 9, has been released for collective sale with an indicative price of S$361.5 million (around S$2,308 psf) and no development charge (DC).Its current price tag is lower than the S$443.6 million (S$2,833 psf) guide price set for the...
Continue Reading • 11 Apr 2011
Amber Towers sold for S$161.6m
A 40,708 sq ft freehold residential site, Amber Towers, has been sold to China Sonangol Land for S$161.6 million (around S$1,118 psf ppr).The 35-year-old property, which comprises 54 apartment units, can be redeveloped into a new high-rise residential project with a maximum gross floor area (GFA)...
Continue Reading • 11 Apr 2011
Arcadia's residents seeking lease top-up
Residents at Arcadia condominium are seeking an extension of lease for the aging estate, not for the collective sale but to conserve the property’s three buildings on environmental and heritage grounds.The condo’s management committee said it applied to the Singapore Land Authority...
Continue Reading • 11 Apr 2011
Rise in affordable freehold homes
More freehold units will be offered in the market over the next few years for as low as S$600 psf to S$900 psf.According to research conducted by Kim Eng, City Developments’ and Hong Leong’s familiarity with the area helped them to best the bid for a 99-year leasehold residential site...
Continue Reading • 11 Apr 2011
Condo dreams fading for HDB upgraders
HDB upgraders’ dreams of acquiring suburban condominiums are drifting further out of their reach.This is due to the record property prices coupled with the property cooling measures implemented by the government.According to property consultancy DTZ Research, seven out of 10 home buyers in...
Continue Reading • 8 Apr 2011
Bendemeer Road site attracts S$543m top bid
A 99-year leasehold site at Bendemeer Road / Whampoa East drew a higher-than-expected top bid of S$543 million from United Engineers (UE).This works out to around S$774 psf on a gross floor area (GFA) of 65,163.7 sq m.Li Hiaw Ho, Executive Director of CB Richard Ellis (CBRE) Research, expects...
Continue Reading • 8 Apr 2011
Q1 property investment deals down 40%
Property investment deals in Singapore dropped 40 percent to S$7.2 billion in the first quarter, according to figures released by DTZ Research.Deals tracked by DTZ Research on a year-on-year basis showed that investment sales reached more than twice the value seen in the first quarter last year...
Continue Reading • 8 Apr 2011
Global housing market growth sluggish
Global home prices climbed only 2.8 percent last year, as more markets saw negative growth in the fourth quarter, according to the Global House Price Index 4Q 2010 by global real estate agent Knight Frank.Asia Pacific recorded the highest price increases at 7.5 percent per annum, followed by the...
Continue Reading • 8 Apr 2011
Pan Pacific Hotels to open new hotel in Singapore
Pan Pacific Hotels will launch its flagship PARKROYAL hotel in Singapore in 2012.Designed by multi award-winning design and architecture firm WOHA, the hotel on Upper Pickering Street will feature a hotel-in-a-garden concept with sustainable features that have earned it a Green Mark Platinum...
Continue Reading • 7 Apr 2011
Singapore homes top choice for ultra-rich Asians
Singapore’s top quality education has placed the country second on the list for second-home purchases for ultra-rich Asians, especially the Chinese and Indians, according to The Wealth Report 2011 compiled by Citi Private Bank and Knight Frank.Meanwhile, when it comes to principal...
Continue Reading • 7 Apr 2011
Property market still going strong
The Singapore land sales market achieved four record prices, which revealed the unwavering optimism of developers, despite the global uncertainties.A recent of Colliers International study showed that property developers display upbeat sentiment and optimism in the country’s property...
Continue Reading • 7 Apr 2011