Home prices in non-central areas outpace prime areas
A new index from the National University of Singapore (NUS) shows that prices of non-landed private homes outside the prime districts of Singapore are now growing at a faster rate than prices in the prime districts.“Non-central” home prices surged 1.2 percent last month, taking the Q1...
Continue Reading • 29 Apr 2010
Raffles Place area not losing its lustre, says CCT CEO
Raffles Place is unlikely to lose its attraction as a business district, said Ms. Lynette Leong, CEO of CapitaCommercial Trust (CCT), which has three office properties in the area.Despite some financial institutions moving to the Marina Bay area, Ms. Leong is seeing strong interest from existing...
Continue Reading • 29 Apr 2010
Proposed changes benefit developers sitting on a pot of collective gold
The spotlight has shifted onto property developers sitting on prime sites acquired during the 2006-2007 en bloc boom, while the market mulls over the impact that rule changes will have on collective sales.If the proposed changes will make it harder for prime freehold residential sites to make...
Continue Reading • 29 Apr 2010
HDB releases state land in Pasir Ris for application
HDB will make available a state land parcel in Pasir Ris for application under the Reserve List of the Government Land Sales (GLS) Programme from today.The 99-year leasehold site, which sits at the junction of Pasir Ris Drive 3 and Pasir Ris Drive 4, can yield about 380 residential units intended...
Continue Reading • 28 Apr 2010
Top bids for Changi residential site at lower end of estimates
The tender for a residential site at Upper Changi Road North/Flora Drive closed yesterday on a more subdued note compared to other recent tenders.The 3.07-hectare land parcel, which can yield up to 390 apartments, drew a total of six bids, with a top bid of $148.3 million or $321 psf ppr coming...
Continue Reading • 28 Apr 2010
Marina Bay Sands opens its doors
The second integrated resort in Singapore opened its doors to the public yesterday at 3:18pm, giving a fresh boost to the country’s tourism industry and raising its profile as a playground for the world's high-rollers.Built by US gaming giant Las Vegas Sands, the US$5.5-billion (S$7.5...
Continue Reading • 28 Apr 2010
JLL launches five adjoining shophouses for tender
Property consultancy firm Jones Lang LaSalle has launched five adjoining shophouses along Upper Bukit Timah Road for tender.The asking price for the group of properties located near Bukit Panjang Plaza, the future Ten Mile Junction development and The Rail Mall, ranges between S$9.5 million and...
Continue Reading • 27 Apr 2010
More units at Marina Bay Suites coming out this week
Another batch of units at Marina Bay Suites will be launched by the project’s developer on Thursday. However, prices have yet to be finalized, according to sources.Unlike the initial batch of 90-odd units released late last year, these additional units are expected to be above the 46th...
Continue Reading • 27 Apr 2010
Singapore property market might be near its peak
The escalating prices seen in the local property market are not likely to come down anytime soon, although the market might be near its peak, said Mr. Song Seng Wun, an economist from CIMB-GK, during a panel discussion on Singapore's building and construction industry.According to Mr. Song,...
Continue Reading • 27 Apr 2010
Figures show that property still has legs
Property has always been the “talk of the town” in Singapore, and has gained further attention given the continued strength of property prices. Some government measures to cool down the property market have not overly suppressed investors' sentiment.The property market in Singapore...
Continue Reading • 26 Apr 2010
Selling price of bungalows in Mountbatten area exceeds $1,000 psf
Transactions of landed homes in the Mountbatten area have been picking up in recent months, with a couple of bungalows on Wilkinson Road, Branksome Road and, most recently, Ramsgate Road changing hands at prices above $1,000 psf since the start of 2010.“Bungalows in the Mountbatten area are...
Continue Reading • 26 Apr 2010
Developers look for more sites
Property developers, who are keen to ride the buoyant market, are aggressively seeking more sites to replenish their depleting land banks.Some developers, like Far East Organization, have taken out advertisements in several publications to seek development sites of various sizes in the suburbs...
Continue Reading • 26 Apr 2010
Changi Complex sold for $58m in a collective sale
Changi Complex, which was launched for en bloc sale in March, has been purchased by World Class Land, an Aspial Corporation’s subsidiary, for $54.3 million, exclusive of a development charge of $3.6 million.The total land price of the Bedok Road site adds up to $57.9 million, which...
Continue Reading • 23 Apr 2010
Lion Teck Chiang to soft launch Seven Crescent project
Mainboard-listed Lion Teck Chiang is set to soft launch Seven Crescent, a freehold cluster bungalow project, at Crescent Road in District 15 this weekend.The $70-million project, comprising of 14 bungalows, which share common facilities, like playgrounds and a pool, sits on a 33,135-sq-ft site....
Continue Reading • 23 Apr 2010
Robertson Quay site now open for application
The Urban Redevelopment Authority (URA) has announced that a hotel site at Robertson Quay is now available for application.This will serve as a lead for the government to put the site up for public tender if a developer commits to pay a three percent deposit for the bid price, or bid above the...
Continue Reading • 23 Apr 2010
Boon Keng Development outbids competitors for Woodlands industrial site
Boon Keng Development submitted the highest bid of $65.2 million for the acquisition of an industrial site at Woodlands Avenue 12 through a government tender which closed yesterday.The bid price, which translates to $75 psf ppr, is 29 percent higher than the second highest bid of $50.6 million,...
Continue Reading • 22 Apr 2010
IMF warns that property markets in Asia are overheating
The International Monetary Fund (IMF) cautions that the residential property markets in East Asia are overheating and that by some measures, housing valuations are stretched.IMF stressed in its latest Global Financial Stability report (April 2010) that the housing prices, particularly at the...
Continue Reading • 22 Apr 2010
Prime site at City Hall goes on sale
URA has put a prime commercial site at Stamford Road/North Bridge Road up for sale by public tender.The launching of the site was triggered after URA received an application from a developer who committed to bid at least $100 million, or about $184 psf ppr. The 99-year leasehold site has been on...
Continue Reading • 22 Apr 2010
Circle Line's new stations to benefit property owners
Both big and small property owners are on track to reap big benefits from the opening of 11 new stations on the Circle Line, according to a Credit Suisse report.Credit Suisse said that industrial landlords like Mapletree Logistics Trust (MapletreeLog), Ascendas REIT (A-REIT) and Suntec REIT own...
Continue Reading • 21 Apr 2010
Two more land sites up for tender
Two additional 99-year leasehold residential sites were released for public tender yesterday -- one at Hougang Avenue 2 from the Reserve List and one at Upper Serangoon Road from the Confirmed List.According to URA, the Hougang Avenue 2 site was triggered by a property developer who agreed to bid...
Continue Reading • 21 Apr 2010