Tampines site up for sale under DBSS
HDB has put a residential site in Tampines up for sale through a public tender under the Design, Build and Sell Scheme (DBSS).The site, located at Tampines Avenue 5 and Central 8, is adjacent to The Premiere@Tampines – the first DBSS project.The site has an area of around 21,000 sq m with a...
Continue Reading • 23 Jun 2010
Plans for remaking Punggol on track
In line with plans of remaking Punggol, HDB has completed nearly 18,000 residential units as of June 1, with another 9,400 units being developed, said Ms. Grace Fu, senior minister of State for National Development.HDB is working to complete 35,000 residential units before the end of 2015, making...
Continue Reading • 23 Jun 2010
Hotel site up for sale
A hotel site located at Boon Tat Street and Robinson Road has been offered for sale under the Reserve List system.The land parcel has a site area of 1,863 sq m and can have a maximum gross floor area of 7,450 sq m, according to the URA.The hotel site, located at the centre of the CDB, is close to...
Continue Reading • 23 Jun 2010
Retail rents in Q2 end on a mixed note
Singapore’s rental values for retail space have ended on a mixed note in Q2 2010, according to property consultancy firm DTZ Research.A report released by DTZ showed that retail rents at Scotts and Orchard Road remained unchanged for the second consecutive quarter, as retailers’...
Continue Reading • 23 Jun 2010
Investment sales exceed 2009 mark
Investment sales in the Singapore property market have reached $11.26 billion so far this year, exceeding the $10.62 billion recorded for the whole of 2009, according to CB Richard Ellis.The property consultancy firm said the figure is likely to exceed its initial estimate of $15 billion and...
Continue Reading • 23 Jun 2010
Launch of The Vision sets new benchmark
The launch of The Vision condo project along West Coast Crescent by Hong Kong-based developer Cheung Kong (Holdings) in mid-March at $1,000 psf to $1,200 psf has set a new price benchmark for the West Coast area.The high-end product development features 14 strata terraced houses and 281...
Continue Reading • 22 Jun 2010
Property caveats lodged down 41 percent in May
The private residential property market in Singapore cooled significantly last month, with the total caveats lodged dropping 41 percent on-month to 1,979, according to the latest figures released by the Singapore Institute of Surveyors and Valuers.Still, several property analysts are not...
Continue Reading • 22 Jun 2010
LES clinches tenancy for Alkaff Mansion
A food and beverage company has obtained the tenancy of the former Alkaff Mansion located at Mount Faber.LES offered $79,251 per month for the site, beating eight other competitors in the tender by the Singapore Land Authority (SLA).The former Alkaff Mansion can be redeveloped into a spa, museum,...
Continue Reading • 21 Jun 2010
Knight Frank drops collective sale for Clementi Park
Clementi Park was unable to get 50 percent of its residents' votes when it tried to go en bloc in 2006.And this time around, Knight Frank, the marketing agent of Clementi Park, has pulled out from the collective sale agreement.In the minutes of the recent meeting, Knight Frank said it lacked...
Continue Reading • 21 Jun 2010
Singapore luxury properties become an international product
High net worth Chinese nationals purchasing properties in Singapore made the headlines this month after a Chinese national paid a whopping $36 million for a luxury house on Paradise Island, in Sentosa Cove.The 21/2-storey bungalow – at 14,983 sq ft and with a built-area of around 17,000 sq...
Continue Reading • 21 Jun 2010
SLA approves 60 percent of lease top-up applications
More building owners are likely to seek lease top-ups from authorities as the stock of buildings developed on 99-year leasehold sites sold by the Singaporean government since the late 1960s gets older.Since 2007, the Singapore Land Authority (SLA) has processed 56 applications for lease...
Continue Reading • 21 Jun 2010
Heeton Holdings eyes avant-garde designs
Heeton Holdings is eyeing avant-garde designs for its projects in an effort to rebrand itself and expand its portfolio.Danny Low, executive director and chief operating officer of Heeton, said the firm is considering new ideas for its future developments in the Orchard Road area.The boutique...
Continue Reading • 21 Jun 2010
Falling number of home sales not a concern
Several analysts said that private home prices are holding up and demand for HDB flats is strong.However, if the Singapore property market appears to be affected by the World Cup fever, it is only because it goes hand in hand with the usual slow June school holidays, as well as a lacklustre stock...
Continue Reading • 21 Jun 2010
Only two bids for Yishun Ave 2 site
HDB has received only two bids for a residential site located at Yishun Ave 2 and Yishun Ave 7.The highest bid of S$229.4 million came from a joint bid offered by two property firms – FCL Topaz and Nam Hee Contractor. This translates to about S$311 psf ppr.A second bid of about S$196...
Continue Reading • 21 Jun 2010
Facts about showflats
Visiting showflats is a common pastime in Singapore, but this leisure activity should be done carefully, especially before before considering any purchases.Potential homebuyers should inspect every corner of the showflat and understand that they may not get everything they see. After all,...
Continue Reading • 18 Jun 2010
HSBC expects booming REIT market in Asia
HSBC expects the number of Asia’s real estate investment trusts (REITs) to increase over the next three to four years due to demand for more risk-averse real estate investments, according to a senior executive.Asia is seeing a boom in the REIT IPO market in 2010, with the recent listing of...
Continue Reading • 18 Jun 2010
Asian nations implement curbs to control property bubbles
Policy makers in Asian nations are struggling to control property bubbles that are threatening to derail the fastest growing region in the world.In China, home prices are increasing at a record rate even after authorities demanded higher deposits, limited second-home purchases and set price...
Continue Reading • 18 Jun 2010
FEO plans new condo, mall in Seletar Hills
Far East Organization is developing what it hopes to be a chic, two-storey mall at a site in Seletar that it acquired in a state tender in 2009.Behind the mall will be a low-rise condo – The Greenwich – which comprises two- to three-room apartments ranging from 602 sq ft to 1,227 sq...
Continue Reading • 18 Jun 2010
Shops in underpass linking ION/Tangs Plaza not a threat
Having additional retail outlets in the underpass linking ION Orchard and Tangs Plaza will not pose a threat to the businesses above ground in the malls.Several analysts explained that retail outlets along the underpass might cater to basic needs such as an automated teller machine lobby....
Continue Reading • 17 Jun 2010
M&C puts Tanglin Shopping Centre up for collective sale
The collective sale fever in the residential property market has now spread to the commercial property market, as owners of such properties jump onto the trend too.Millennium and Copthorne (M&C) Hotels, the hotel arm of City Development, has announced that its unit has signed a collective...
Continue Reading • 17 Jun 2010