Singaporeans still keen in property investment according to survey
Despite the skyrocketing property prices in Singapore and the economic uncertainty in Europe, many Singaporeans are still interested to invest in the property market.A recent survey conducted by PropertyGuru, the largest online property site in Singapore, showed that seven out of ten potential...
Continue Reading • 19 May 2010
Smaller players not lagging behind
Several smaller property developers are not being left behind by their bigger peers, recording strong results during the first quarter which ended March 31.Fragrance Group, a property and hotel operator, posted a net profit increase of 42.6 percent to $14.4 million, partially attributed to higher...
Continue Reading • 18 May 2010
Hillview Terrace residential plot launched for public tender
A residential parcel at Hillview Terrace has been put up for public tender.According to DTZ, its marketing agent, property owners have agreed to release their units, which comprises of between 12 and 24 units, for an en bloc sale.The 49,164-sq-ft freehold residential site can be developed into a...
Continue Reading • 18 May 2010
Private home fever
Sales of private homes exceeded the 2,000-unit mark for the first time in nine months since July last year.Based on the latest data presented by the Urban Redevelopment Authority (URA), there were 2,207 units sold last month on the back of resilient demand and positive sentiment.According to...
Continue Reading • 18 May 2010
CKH calls off Thomson View EOGM
The scheduled extraordinary general meeting (EOGM) at Thomson View condominium for the establishment of a new en bloc sales committee was called off yesterday due to a lack of quorum.CKH Strata Management, the appointed managing agent of Thomson View, called off the meeting after announcing that...
Continue Reading • 17 May 2010
New condo project off Lorong Ah Soo
Kheng Leong Company has launched The Minton, a 99-year lease condominium located in Lorong Ah Soo.The latest condo project, comprising 1,144 units, has facilities like a gym, swimming pool and clubhouse.Homeowners can choose from a 550-sq-ft one-bedroom unit to a 1,700-sq-ft four-bedroom unit and...
Continue Reading • 17 May 2010
$16-22 billion of new home sales for 2010, says CBRE
The total value of new home sales this year will be worth $16 billion to $22 billion, as the real estate market sees a momentum, which started last year, according to a new report released by CB Richard Ellis (CBRE).Based on caveats lodged for 2009, the total transaction value recorded $16.22...
Continue Reading • 17 May 2010
Employee pleads guilty
Mr. Chew Swee Siong, 31, a former employee of Kenwood Property Consultants, has pleaded guilty to forging signatures to draw over S$500,000 from the bank accounts of a condo management committee.He pleaded guilty to 28 charges, while another 158 were taken into consideration.He committed the...
Continue Reading • 14 May 2010
Luxury homes losing appeal
The much-awaited full comeback of the luxury end of the real estate market this year might be suspended.The promising recovery of the luxury home sector is looking a little shaky and unclear, as investors struggle with fears over the Greek debt crisis and general uncertainty remains a plague in...
Continue Reading • 14 May 2010
Bright outlook for Asian retail properties for 2010
The retail sector is likely to lead the growth in the Asian property market this year. This is mainly attributed to the growing consumer dollar in India and China, said property advisor DTZ.According to DTZ, investments in the region are expected to come from Asian players, who have vast funds to...
Continue Reading • 14 May 2010
Industrial rents likely to rise 10%: Colliers
The capital values, rents and land values of conventional industrial space in Singapore could increase 10 percent in the next 12 months, as institutional investors return and the economy improves, said Colliers International.The property consultancy firm found that the market for warehouses and...
Continue Reading • 14 May 2010
Small property developers priced out of Singapore
Many small-sized property developers are seeing themselves priced out by foreign companies and big players, as tender bids for government and private land reach record highs in the country. This has made it more difficult for smaller developers to acquire land for development.In the latest tender...
Continue Reading • 13 May 2010
Condo owners give developer two alternatives
A small piece of a condo project encroaching onto state land is irritating some residents, and now they want the developer to either tear it down and rebuild the affected wall, or purchase over the 15-sq-m site from the government.The infringement occurred when the project was being constructed...
Continue Reading • 12 May 2010
Chip Eng Seng submits top bid for Simei residential site
CEL Development, a property arm of Chip Eng Seng, submitted the highest offer of $152.7 million, outbidding 17 other bidders for a residential site on Simei Street 3.The offer, which translates to $523 psf ppr, was higher than analysts’ earlier estimates of $295-$410 when the land parcel...
Continue Reading • 12 May 2010
STB gives green light for Dragon Mansion en bloc sale
The Strata Titles Board (STB) has approved the en bloc sale of Dragon Mansion to RL Developments, Roxy-Pacific Holdings’ wholly-owned unit.Under the sterner legislation governing en bloc sale, which was implemented in October 2007, Dragon Mansion is the first collective sale site to have...
Continue Reading • 11 May 2010
CapitaLand to build Raffles City in China
CapitaLand plans to construct Raffles City Shenzhen, a $1.25-billion commercial-cum-residential project, in the southern Chinese city of Shenzhen. It will be the first integrated development of CapitaLand in Shenzhen under the Raffles City branding.The...
Continue Reading • 11 May 2010
URA auctions three sites for heavy vehicle parking
The Urban Redevelopment Authority (URA) will auction three land parcels at Senoko Drive and Bukit Batok West Avenue 5 at 2pm on June 3 at the URA Centre.The land parcels are being released to help meet the needs of fleet owners and transport operators for heavy...
Continue Reading • 11 May 2010
Landed home fever likely to become hotter this year
Demand for landed homes in Singapore is expected to become hotter this year with the number of sales transactions likely to exceed the 2,892 units sold in 2009.In Q1 2010 alone, more than 1,500 landed homes, excluding good class bungalows, were sold. They were worth around S$3.2 billion, compared...
Continue Reading • 11 May 2010
Business world: Calling a spade a spade
When the 2010 Global Financial Stability report was released by the International Monetary Fund (IMF), it warned of problems in many Asian property markets. The closest it got to characterize the markets as bubbles was when they were described as overheating and "by some measures, valuations...
Continue Reading • 10 May 2010
Cubik - the newest condo development for homebuyers
The 2,118-sq-m Cubik from EG development is the newest freehold condo attraction in the East Coast area. The property, which is situated at Lorong K Telok Kurau, is comprised of one- and three-bedroom units and two-bedroom penthouse.The 24-unit condo, located near...
Continue Reading • 10 May 2010