An iconic landmark that is worth saving
The iconic landmark along Stamford Road will be redeveloped into a new and vibrant retail, residential, hotel and arts precinct after it was sold for approximately $250 million.A new 15-storey mixed-use building will soon rise above the conserved heritage buildings Capitol Theatre, Capitol...
Continue Reading • 29 Oct 2010
Japanese envoy's bungalow up for sale
The Japanese government has put up a Good Class Bungalow (GCB) located at No. 18 Astrid Hill for sale.The bungalow, which is the former home of the Japanese envoy to Singapore, is expected to fetch between $20 million and $25 million. This works out to around $1,056 psf to $1,320 psf based on the...
Continue Reading • 28 Oct 2010
Two residential sites up for sale
The URA has launched two residential sites located at Punggol Central/Punggol Walk and Seletar Road for sale through a public tender under the Confirmed List of the H2 2010 GLS Programme.Together, the two sites can potentially yield approximately 1,080 housing units, offering homebuyers more...
Continue Reading • 27 Oct 2010
Chestnut Ave freehold bungalow sold for $5.24m
A freehold bungalow located in the Chestnut Avenue Good Class Bungalow Area was sold for $5.24 million at a property auction last week.With a starting price of $4.5 million, the property at 5 Chestnut Close received a total of 16 bids. The sale price works out to approximately $874 psf based on a...
Continue Reading • 26 Oct 2010
Unleveraged return on Asia's real estate was -0.2%
The unleveraged return on Asian real estate in 2009 was -0.2 percent, according to a new report by the Asian unit of Investment Property Databank (IPD), a global company that provides performance analysis for owners, investors, managers and occupiers of property.IPD Asia pooled data on Singapore,...
Continue Reading • 26 Oct 2010
EC site awarded to ChoiceHomes - CEL Devt JV
A 99-year leasehold executive condominium (EC) site at Pasir Ris has been awarded to ChoiceHomes Investments Ltd and CEL Developments Ltd which offered a joint bid of $89.89 million.The 15,142.2 sq m land parcel is located at the junction of Pasir Ris Drive 1 and Elias Road. It has a maximum...
Continue Reading • 26 Oct 2010
Remaining 30 units at CityVista Residences sold for $147m
The Chip Eng Seng – Lehman venture has sold the remaining 30 units at CityVista Residences for approximately $147 million, according to The Business Times.Located at Peck Hay Road in the Cairnhill area, the 20-storey freehold building of 70 units recently received a Temporary Occupation...
Continue Reading • 26 Oct 2010
Cardiff Court up for sale
Cardiff Court off Lorong Chuan has been put up for en bloc sale for $25 million.Together with the estimated development charges of $6.63 million, the $25 million price tag of the 43,500 sq ft leasehold site works out to around $519 psf of potential gross floor area (GFA). It is zoned for...
Continue Reading • 26 Oct 2010
Private residential prices in Q3 up 2.9%
Overall prices of private residential properties grew 2.9 percent in the third quarter, compared with the 5.3 percent increase in the second quarter, said the URA.Prices of non-landed properties saw an increase of 1.6 percent in Q3, compared with the 5.0 percent increase in the earlier period,...
Continue Reading • 25 Oct 2010
Global direct property investment volumes hit US$69b in Q3
Direct real estate investment volumes across the globe reached US$69 billion in the third quarter, indicating that investment recovery in the last four quarters has levelled off, according to new research released by global real estate services firm Jones Lang LaSalle (JLL).Meanwhile, direct...
Continue Reading • 25 Oct 2010
Asia-Pacific's Q3 property investment volumes up 8%
Asia-Pacific’s investment volumes in the commercial real estate market jumped 8 percent in Q3 to $29.6 billion, according a report released by DTZ Research.Singapore’s investment volumes exceeded the $3 billion mark recorded in 2008, while Malaysia’s investment volumes hit $1.9...
Continue Reading • 22 Oct 2010
Pasir Ris EC site attracts top bid of $89.89m
A land parcel at the junction of Pasir Ris Drive 1 / Elias Road has received a total of six bids, with a tie-up bid between ChoiceHomes Investments Ltd and CEL Development Ltd offering the highest bid of $89.89 million in a public tender that closed yesterday.“The top bid of $89.89 million...
Continue Reading • 22 Oct 2010
Secondary home sales down in September
Private home transactions in the secondary market slowed down significantly in September over the previous month following the August 30 announcement of property cooling measures.Based on the analysis of URA Realis caveats data as of October 19, the number of subsales slid nearly 52 percent...
Continue Reading • 21 Oct 2010
URA to launch Robinson Road site for tender
The URA has announced that it has accepted an application from a developer to launch a hotel site at Robinson Road / Boon Tat Street for sale through a public tender.The land site was made available for sale on June 22 through the government’s Reserve List system. The URA said the 60-year...
Continue Reading • 20 Oct 2010
Locals driving up home sales
Most of the private home buyers in Singapore are still made up of local Singaporeans, with permanent residents (PRs) comprising 13 percent and foreigners 12 percent of total sales in the second quarter.Also, speculative activity in the private property market is driven mostly by Singaporeans. PRs...
Continue Reading • 19 Oct 2010
CDL to launch new condo on Copthorne Orchid Hotel site
City Developments Limited (CDL) is expected to launch The Glyndebourne, a proposed freehold condo project slated to be developed on the Copthorne Orchid Hotel site, as early as next week.Some market watchers suggest the average price for the new development could fetch around $2,000 psf, with...
Continue Reading • 19 Oct 2010
Recent cooling measures fall short of expectations
The URA monthly sales volume saw a 28 percent month-on-month decline to 911 units in September following state intervention in the previous month. Compared with the previous two sets of measures introduced on September 15, 2009 and February 20, 2010 respectively, the latest measures fell short of...
Continue Reading • 18 Oct 2010
Over 50% of units at Suites @ Orchard sold
Around 65 apartments at the 118-unit Suites @ Orchard project have been sold as of yesterday, at average prices of between $2,000 psf and $2,200 psf.“About 65 percent of buyers are Singaporeans. Many of those who purchased were young professionals although we've also had families picking up...
Continue Reading • 15 Oct 2010
US$281b capital set to flow into property, says DTZ
Nearly US$281 billion of capital will be available for global real estate investment next year, said DTZ Research. This is 22 percent higher compared to the company’s previous estimate in December last year, as more capital is expected to flow into the real estate markets in Asia-Pacific...
Continue Reading • 14 Oct 2010
SEB units take 60% stake in Chinatown Point acquisition
Entities managed by SEB, a German fund manager, have taken a 60 percent stake in a consortium that purchased Chinatown Point shopping centre and four office units, said SEB Asset Management.It said that a segregated account managed by SEB has taken a 30 percent stake, while the other 30 percent...
Continue Reading • 14 Oct 2010