URA launches two residential sites for tender
The Urban Redevelopment Authority (URA) has put up two 99-year leasehold sites at Jalan Loyang Besar / Pasir Ris Drive 4 and Sembawang Road / Jalan Sendudok for sale through a public tender.The two sites, which can yield a total of up to 970 units, were made available for sale under the confirmed...
Continue Reading • 30 Mar 2011
Is Sentosa Cove losing its appeal?
Only eight non-landed homes were sold during the first two months of 2011 in Sentosa Cove, once a hot spot for property investment in Singapore.This represents a decrease from the 17 transactions in Q4 2010 and well below the 71 transactions in Q2 2010. The opening of City Developments’...
Continue Reading • 30 Mar 2011
Residential property market rationalised by cooling measures
Between 3,200 and 3,400 private homes were sold in Q1, down 20 to 25 percent from the 4,241 units sold in Q4 last year, according to CB Richard Ellis (CBRE).The commercial property services firm said that home prices in the first quarter remained stable, as the cooling measures implemented on 13...
Continue Reading • 29 Mar 2011
Cooling measures cause decline in average home prices
The average prices of private apartments and condominiums have dropped slightly, a sign of the impact of the government’s cooling measures.“The January 13 cooling measures are certainly working,” said Tan Tiong Cheng, Chairman of Knight Frank. “The lower loan-to-value...
Continue Reading • 29 Mar 2011
Everitt Edge now 50% sold
Property developer Orange Tee revealed that 18 of its 36 Everitt Edge residential units were sold in less than two weeks, since its launch on 19 March.Roy Chang, Senior Group Associate Director at Orange Tee said the “overwhelming” response was driven primarily by a low interest rate...
Continue Reading • 29 Mar 2011
Soaring property prices a negative sign for ruling party
With the upcoming general election in Singapore, increasing property prices pose an economic and political risk that could erode citizens’ support of the country’s ruling party.Private property prices climbed 17.6 percent in 2010 despite the government’s cooling measures, while...
Continue Reading • 28 Mar 2011
Bungalow developer confident of robust demand
In Singapore, a Good Class Bungalow (GCBs) is uncommon but even less ordinary is the story of Mr. George Lim, who has become a prime developer of these high-class homes.Since 2006, Mr. Lim, 59, has redeveloped and sold seven bungalows, worth a total of S$145 million.Recently, he made the...
Continue Reading • 28 Mar 2011
Property investment sales remain strong in Q1
Hotels and en bloc sales comprised the top property investment sales in the first quarter despite overall investment sales having dropped at the start of the year, according to reports from Savills Singapore and CB Richard Ellis (CBRE).Savills said that property investment sales plunged 43...
Continue Reading • 28 Mar 2011
Frasers Hospitality launches Frasers Residence Orchard
Frasers Hospitality, a wholly owned subsidiary of Fraser and Neave (F&N), has launched the 72-unit Frasers Residence Orchard, its fourth property in Singapore.This property brings the company’s portfolio to nearly 6,000 service apartments — a step closer to its goal of over 10,600...
Continue Reading • 25 Mar 2011
HDB launches 1,527 new BTO flats
The Housing Development Board (HDB) has launched two new Built-to-Order (BTO) projects — Boon Lay Fields in Jurong West and Compassvale Ancilla in Sengkang.The two projects offer a total of 1,527 flats, comprising 244 studio apartments, as well as 233 three-bedroom, 666 four-bedroom and 404...
Continue Reading • 25 Mar 2011
SMART Expo 2011 to showcase luxury properties
The SMART Investment and International Property Expo, Asia’s longest running series of overseas property exhibitions, will be held on 26 and 27 March 2011 at the SUNTEC Singapore International Exhibition & Convention Centre. The event will showcase the luxury residential properties...
Continue Reading • 24 Mar 2011
More home buyers choosing smaller units
The last two rounds of the government’s property cooling measures may have driven more home buyers to opt for smaller and cheaper homes, according to new research.Property analysts attributed the trend to the tighter loan-to-value (LTV) ratio for home buyers with existing mortgages. The LTV...
Continue Reading • 24 Mar 2011
Fierce competition among developers for sites
Property experts in Singapore predict aggressive competition among property developers for quality land sites in the country this year.Plots situated near regional centres or public transport hubs are currently the most in demand. From the current government land tenders, these areas have...
Continue Reading • 24 Mar 2011
Couple sues developer over home defects
A couple has filed a case against Kheng Leong’s real estate developer unit, asserting that the apartment sold to them was unfit for habitation.After purchasing a unit at Oasis Garden condominium, Mr. Benson Tan and his wife, Amelia, filed charges against Peak Homes Development, seeking...
Continue Reading • 23 Mar 2011
Executive condos popular among foreigners
The number of foreigners buying resale executive condominiums (ECs) is increasing, pushing prices up to record levels.According to research and consultancy firm Savills, foreigners, including permanent residents (PRs), accounted for 33 percent of the resale transactions recorded last year. It...
Continue Reading • 23 Mar 2011
EC site attracts S$170.1m bid
An executive condominium (EC) site at Choa Chu Kang Drive has attracted a total of six bids, with Camborne Developments Ltd submitting the highest bid of S$170.1 million.“The top bid of S$170.1 million reflects S$321 psf ppr and translates to a breakeven cost of around S$650 psf,”...
Continue Reading • 23 Mar 2011
Plum sites attracting top bids
Plum sites that were launched for tender after the government implemented its property cooling measures have attracted some of the biggest disparities between the top two bids since 2010.This was attributed to a greater divergence of views among developers on the impact of the cooling measures,...
Continue Reading • 22 Mar 2011
Property prices have stabilised
Home prices have stabilised after four rounds of measures aimed at cooling the real estate market, according to a senior government official.Peter Ong, Permanent Secretary at the Ministry of Finance, said that property prices “have sort of stabilised”, during a conference on East...
Continue Reading • 22 Mar 2011
Cooling expected for 2011 Asian property market
Real estate firm Savills expects the Asian property market to cool down this year, due to the Japan disasters and anti-speculation measures being issued by Asian governments.“In the near term, it is unclear how markets will react to the recent catastrophic events in Japan, particularly at a...
Continue Reading • 21 Mar 2011
Sengkang Square site awarded to Keppel Land
A land parcel at the junction of Sengkang Square and Compassvale Road has been awarded to Keppel Land Limited (Keppel Land) after it emerged the highest bidder in a public tender that closed on 15 March.Keppel Land’s highest bid of S$286.8 million for the 99-year leasehold site comes after...
Continue Reading • 21 Mar 2011