Capella Singapore’s Impressing factor
The doors of Capella Singapore were finally opened to its first paying clients on 30 March. This marks the beginning of what the hotel owners hope in the industry of local hospitality – a business that seamlessly and successfully combines the colonial past of Singapore with the most recent...
Continue Reading • 19 Nov 2009
Prospective Cairnhill Heights buyer backs out
A plotted acquisition of an enbloc site worth $44 million in the Cairnhill area was withdrawn by a developer, infuriating a few home owners.Jewel 1, the firm involved, attributed “difficult, uncertain and deteriorating market conditions” for it to decide to back away from Cairnhill...
Continue Reading • 19 Nov 2009
DBS Group optimistic about the high-end market
DBS group research has upgraded its calls on developers in the high-end segment of the market, including Wheelock (TP: $1.98), Ho Bee (TP: $1.64) and SC Global (TP: $1.69).The positive outlook on the high-end segment is buoyed by various factors, including the likelihood of having higher...
Continue Reading • 19 Nov 2009
Office rents could fall 30-40% this year
Based on research made by property firm Savills, Grade A office rents in Singapore are likely to be trimmed down by 30-40 percent in this year, and another 20-25 percent in the following year is also viable.In 2008, rents in Singapore fell 1.9%. The property firm’s research, which...
Continue Reading • 18 Nov 2009
Controversial dorm to open by August
The projected foreign worker dormitory in Serangoon Gardens was delayed due to a commotion among residents prior to the announcement of the said dorm. However, the trouble has already been fixed and its operation is likely to commence in August.Lim Hwee Hua, Aljunied GRC member of Parliament,...
Continue Reading • 18 Nov 2009
Recurring income saves Metro Holdings
Property investments’ recurring income may prove to be the saving grave of Metro Holdings.The first quarterly net loss of Metro for nine years was recorded in Q2, but it regained its loss in Q3, despite the plunge of retail revenue to $43 million – an eight percent decrease on a...
Continue Reading • 18 Nov 2009
Ethical estate agents must be rewarded
Doctor Sim Tiong Peng empathised with the troubles of clients who were victims of deceitful estate agents, in an article entitled, “Licence all agents, say experts”. During the middle of the previous year, Dr. Peng purchased a private flat and employed the same agent, who dealt with...
Continue Reading • 18 Nov 2009
Alexandra Road condo nearly sold-out
Alexis @ Alexandra proved to resist the downturn as it successfully attracted buyers at the project’s preview.Almost 90 percent of the project with 293 units, which is situated at the corner of Commonwealth Avenue and Alexandra Road, has been sold. The sales were done on Thursday and...
Continue Reading • 18 Nov 2009
Bigger cuts for DC rates possible
Bigger cuts of up to 20 percent in the development charges (DC) are being expected by property consultants from the authorities for the forthcoming revision effective 1 March. Several observers said the proportion of the development in land value, which proceeds to the state, may be lowered by...
Continue Reading • 18 Nov 2009
Gillman collective sale goes ahead
In Singapore yesterday, The Court of Appeal has dismissed the appeal of the Gillman Heights’ minority owners to end the collective property sale.CapitaLand, Hotel Properties and two other private funds have agreed to purchase the $548 million worth of property in 2007. However, a minority...
Continue Reading • 18 Nov 2009
Property Stocks Rally on China’s Fiscal Boost
Property stocks enjoyed a two-day break from the market gloom after China’s real estate market announced its plans to boost sales. The rally is likely to be short-lived, however. According to some analysts, measures taken by property stockholders will have a limited effect on boosting up...
Continue Reading • 18 Nov 2009
Some loss but most gain in subsales
Even though it is a difficult property year in Singapore, an overwhelming 95 percent of the property sellers who dealt private condominiums and flats in the subsale market a year ago were able to turn a great profit.However, the amount of subsales that ran up losses totalled above doubled - from...
Continue Reading • 18 Nov 2009
Dilemma in the Asian Property Market
The PricewaterhouseCoopers (PwC) and Urban Land Institute (ULI) released a report, The Emerging Trends in Real Estate Asia Pacific 2009, which depicted an apocalyptic scenario of the Asian property market – bankruptcies, falling asset prices, deteriorating debt markets, increasing...
Continue Reading • 17 Nov 2009
URA October results down massively
The number of private homes launched and sold by developers in October plunged to their lowest levels since home sales began to bounce back in February, according to official figures released recently. While the outcome was expected, the question now is: How long will it take for the home market...
Continue Reading • 17 Nov 2009
New sites will ensure sufficient housing
The Singapore government assured last week that there is sufficient residential supply in the country, so home buyers need not rush. Following this announcement was the government’s decision to sell eight residential sites in the first half of 2010.The eight sites are located in non-city...
Continue Reading • 17 Nov 2009
Sentosa Cove deal not completed
A foreign investor who purchased two adjoining bungalow sites located at the Sentosa Cove in 2008 did not complete the transactions. One of the plots has been re-sold by Sentosa Cove to a local buyer at $1,688 per sq ft (psf) of land – the same price that the foreign investor proposed....
Continue Reading • 16 Nov 2009
Foreign buyers eyeing new investments
Foreign property buyers are venturing out of the usual prime districts in Singapore to invest in other parts of the island.A new study done by Savills shows that overseas investors are looking at districts 11 and 22, as well as district 12, which is the Balestier area.The study also revealed...
Continue Reading • 16 Nov 2009
Better value for older homes
While the local property market plunged in late 2008 along with the global economy, home values have since bounced back to its normal level. Since the second quarter of this year, a larger number of interested home buyers have lined up outside the showrooms of new condominium launches.Property...
Continue Reading • 16 Nov 2009
High-spec space loses its appeal with tenants
High-spec industrial space has lost its appeal with tenants over the last few months. Some firms have returned to leasing commercial space as office rents have plunged, said Colliers International.In turn, the move has reduced rents for high-spec space. The average gross rent of high-spec...
Continue Reading • 12 Nov 2009
Heeton Group acquires Mitre site for about $121m
The Heeton Holdings Group has signed an agreement to purchase the Mitre Hotel, a freehold residential site located at Killiney Road, for around $121–122 million. The price works out to nearly $1,100 per square foot of potential gross floor area, which includes a $770,000 estimated...
Continue Reading • 12 Nov 2009