Property bubble may form in Singapore market
Recent measures aimed at cooling speculation were intended to prevent a risk of property bubble formation that the Singapore government believe may emerge in the market.National Development Minister Mah Bow Tan said the property market has become “a little exuberant of late”. The...
Continue Reading • 16 Sep 2010
Increasing prices before property cooling measures
Prior to MND’s implementation of the latest property measures in August 30, the URA saw the highest percentage of private homes sold in the $1,000psf or more level. Developers had sold 1,248 units in August, down 19.2 percent from 1,544 units sold in July. About 88.2 percent of the total...
Continue Reading • 16 Sep 2010
Asia Pacific's property market dominated by Asian buyers
The real estate markets in the Asia Pacific are dominated by Asian buyers, with transaction volumes in the first half of the year increased 40 percent, according to a new research report released by Jones Lang LaSalle (JLL).JLL said property transaction volumes in the Asia Pacific region for the...
Continue Reading • 16 Sep 2010
Bulk transactions for high-end apartments on the rise
Bulk transactions involving high-end apartments are edging up again, with some property funds which invested in Singaporean upmarket residential sector benefiting from a price recovery in the segment to exit their investments.A German fund managed by Morgan Stanley in the Draycott Park area is...
Continue Reading • 15 Sep 2010
Property market expected to settle down
While the latest policy moves aimed at cooling the local property market have caused some “flux”, things should “settle” in a few months, said Wong Heang Fine, chief executive of the Singapore residential arm of CapitaLand.“We think there is currently some flux in...
Continue Reading • 14 Sep 2010
Shoebox units affect developers' sales
The average price quantum of private units sold declined to $1.2 million in May and June and $1.1 million in July from April’s $1.4 million, but average psf price has played at over $1,000 psf for most months of 2010.In addition, the average unit size of new units sold also declined to...
Continue Reading • 13 Sep 2010
Property market heats up after Ghost Month
Private property buyers are returning into the market after the Hungry Ghost Month.However, the festival’s conclusion was not the only reason for a quick turnaround in the buying activity over the long weekend. A new property launch also boosted buying sentiment.Most of the transactions...
Continue Reading • 13 Sep 2010
URA awards Jalan Eunos site
The URA has awarded a residential site at Jalan Eunos to Tuas Technology Park Ltd and OPH Marymount Ltd. after they offered the highest bid in a public tender that closed on September 7.The two companies submitted a joint bid of $257.8 million, or about $4,462.43 psm of gross floor area.The...
Continue Reading • 9 Sep 2010
Hungry Ghost Festival scares buyers away
Property buyers were spooked during the Hungry Ghost Festival this year, with only three properties amounting to $5.23 million sold at auction, and none of them were residential properties, according to data released by Colliers International.In contrast, a total of 14 transactions amounting to...
Continue Reading • 9 Sep 2010
NV Residences affected by cooling measures
The cooling measures announced last week has affected the first major residential project to be launched since August 30.At yesterday’s preview of NV Residences located in Pasir Ris, the developers had sold approximately 160 units of the 200 units launched in the 99-year leasehold, 642-unit...
Continue Reading • 9 Sep 2010
JLL puts residential site up for sale
A freehold residential development site at Lim Tua Tow Road has been put up for sale by global property services group Jones Lang LaSalle, which is the sole marketing agent for the property.The 43,335 sq ft Glenville site is zoned for residential use and can yield a maximum permissible gross...
Continue Reading • 8 Sep 2010
Jalan Eunos site draws 5 bids
A 41,261.2 sq m residential site at Jalan Eunos received a total of five bids in a public tender that closed yesterday.The top bid was $257.8 million, offered through a joint bid between Tuas Technology Park Pte Ltd. and OPH Marymount Ltd. This translates to around $4,462.43 psm of gross floor...
Continue Reading • 8 Sep 2010
HDB releases two more residential sites
HDB has released two residential sites located at Sengkang Square/Compassvale Road and Pasir Ris Drive 1/Elias Road for sale.The site at Pasir Ris Drive 1/Elias Road was released for sale under the Confirmed List of the H2 2010 GLS Programme, while the parcel at Sengkang Square/Compassvale Road...
Continue Reading • 8 Sep 2010
Buyers cautious on property purchases
The government measures introduced last Monday to cool property speculation seems to have greatly affected the mass-market segment, with smaller crowds at showflats and fewer sales recorded over the weekend.On the other hand, prime properties still saw some interest from genuine buyers.No new...
Continue Reading • 7 Sep 2010
Remaining Belle Vue apartments set for relaunch
Property developer Wing Tai Holdings has announced the re-launch of the remaining luxury apartments in its Belle Vue Residences located at Oxley Walk, with prices ranging from $2,300 psf to $2,800 psf.Edmund Cheng, deputy chairman of Wing Tai Holdings, also said that he believed the government...
Continue Reading • 6 Sep 2010
New look for Bedok Town Centre
Bedok Town Centre is set to receive a total makeover in the next four years, with the construction of private homes and a new integrated public transport hub. These new developments will rise on a land parcel that will also have 35,000 sq m of space for commercial use.The seamless linking of...
Continue Reading • 3 Sep 2010
State property up for rent
The Singapore Land Authority (SLA) has appointed DTZ to help launch a state property located at 27 Scotts Road for rent through a public tender.The site has a total land area of 3,706 sq m and a gross floor area of approximately 357 sq m. The property is slated for mixed use, including food and...
Continue Reading • 3 Sep 2010
Hoi Hup and Sunway acquire Miltonia Close site
A 99-year leasehold residential site at Miltonia Close has been awarded to Hoi Hup Realty Ltd and Sunway Developments Ltd after they jointly offered the highest bid of $165 million.The land parcel is located in Yishun and is slated for strata landed housing or condominium development. It has a...
Continue Reading • 3 Sep 2010
$788.9m bid for Bedok site
A 99-year leasehold site at New Upper Changi Road / Bedok North Drive has received a total of nine bids in a public tender that closed yesterday.The highest bid for the site was $788.9 million, offered by a joint bid from Brilliance Residential Ltd. and Brilliance Trustee Ltd., a wholly-owned...
Continue Reading • 2 Sep 2010
Increase in DC rates, particularly in Residential Use Groups
The revision of the development charge rates (DC) rates for the period of September 1 2010 to February 2011 has showed that landed and non-landed residential use has climbed an average of 13 percent.The DC rate revision also factored the effect of the Circle Line, especially on Braddell, Potong...
Continue Reading • 1 Sep 2010