56 S'pore firms shortlisted for property awards
EXCLUSIVE: Singapore property players have had a strong showing with 56 shortlisted firms for the prestigious 2014 Asia Pacific Property Awards.The city-state had the fourth highest number of contenders in the region. Other countries on the list include China with a whopping 99 nominees, followed...
Continue Reading • 13 Mar 2014
Auction market to pick up in 2014
Property auctions in Singapore are expected to gain momentum following a slowdown in 2013 amid market challenges, revealed a Knight Frank report. It noted that while the number of properties put up for auction increased by 41 percent in 2013, the figure sold in each quarter continued on a...
Continue Reading • 13 Mar 2014
Letter from MIPIM: Day Two
Brett Alegre-Wood reports for PropertyGuru from the second day of MIPIM, the annual conference for the world's property industry.Day two at MIPIM in Cannes, France, was a mixed spread of other U.K. cities, all bidding for recognition and investment. It’s clear to see that confidence in the...
Continue Reading • 13 Mar 2014
Yishun residential site attracts 5 bids
A residential site (pictured) at Yishun Avenue 9 attracted a total of five bids when its tender closed on Tuesday, the URA said.EL Development submitted the top bid of $278.8 million for the 20,553.8 sqm plot. This translates to about $4,844 psm on the gross floor area. The second-highest bid...
Continue Reading • 12 Mar 2014
New rules not likely to affect developer margins
Developers may see increased costs in the short term as they turn to productive technology for some Government Land Sale (GLS) sites, but their margins would still be protected, media reports said quoting analysts.Regina Lim, Head of Singapore Equity Research and ASEAN Property Research at...
Continue Reading • 12 Mar 2014
Letter from MIPIM: Day One
Brett Alegre-Wood reports for PropertyGuru from the opening day of MIPIM, the annual conference for the world's property industry.Day one of of the event in Cannes, France, saw the Mayor of London, Boris Johnson, counter recent negative rhetoric about overseas investors in London.In his speech,...
Continue Reading • 12 Mar 2014
Bukit Timah residential site for sale
A freehold redevelopment site comprising three adjoining properties along Queen's Road and Duke's Road has been launched for sale by tender, said marketing agent Knight Frank. The site is located in a mainly residential area at Bukit Timah and is within walking distance to the Botanic...
Continue Reading • 10 Mar 2014
CDL, Hong Leong top holders of land bank in S'pore
City Developments (CDL) and its parent company Hong Leong Holdings own the largest land bank among developers in Singapore, according to a DTZ study reported in the media.Starting the year with around 4,215 units in their combined land bank, CDL and Hong Leong retained their top spot from the...
Continue Reading • 10 Mar 2014
Ultra-wealthy prefer residential property as investment
Property remains the favoured asset class among Ultra High Net Worth Individuals (UHNWIs), with almost a quarter of their investment portfolio accounted for by property, according to Knight Frank’s Wealth Report. In its UHNWI Attitudes survey which was jointly launched with the Bank of...
Continue Reading • 7 Mar 2014
S'pore is 3rd most expensive in Asia to rent
Josephine Woolley 12.00 Singapore is in 7th position among the top 10 most expensive rental locations in the world, according to an accommodation report from human resources consultancy ECA International. This is up from last year’s 8th position and the 9th...
Continue Reading • 7 Mar 2014
Tuan Sing launches Cluny Park Residence
Luxury condominium Cluny Park Residence will launch this Saturday, said its developer Tuan Sing Holdings. The 52-unit freehold project in Bukit Timah comprises two- to four-bedroom apartments including eight penthouses. Prices start from $2.3 million and go up to $8 million, and a good number of...
Continue Reading • 6 Mar 2014
District Watch: District 18
Talk to any eastsider in Singapore and you will notice an unmistakable sense of pride in his area of residence. In this issue of The PropertyGuru, Cheryl Tay tells you why.Comprising Pasir Ris, Simei and Tampines, District 18 is easily one of the most self-sustaining regions in Singapore. It...
Continue Reading • 5 Mar 2014
Singapore sub-sales at 8-year low
Speculation has all but disappeared from the Singapore property market, with the number of sub-sales recorded during January 2014 hitting an eight-year low.Data from the Urban Redevelopment Authority (URA) analysed by PropertyGuru yesterday revealed just 37 sub-sale transactions were recorded in...
Continue Reading • 5 Mar 2014
MCL Land wins tenders for 2 EC sites
Two adjoining executive condominium (EC) sites in Choa Chu Kang Grove have been awarded to MCL Land (Brighton) after the developer submitted the highest bids of $232.5 million for Parcel A and $210.1 million for Parcel B, according to the housing board.Launched for tender on 16 December 2013,...
Continue Reading • 4 Mar 2014
Development charge rates up
The development charge (DC) rates paid by developers to enhance a site or to build bigger projects on them have been raised by the Ministry of National Development for the period of March to August 2014. DC rates for Use Group A (Commercial) rose by an average of 15 percent, or ranging from 14 to...
Continue Reading • 3 Mar 2014
Prince Charles Crescent site launched for sale
A residential site (pictured) at Prince Charles Crescent (Parcel B) has been launched for sale by public tender to provide developers and home buyers with more housing options, said the Urban Redevelopment Authority (URA). Launched for sale under the confirmed list of the 1H2014 Government Land...
Continue Reading • 3 Mar 2014
Shoebox purchases by HDB addressees on the rise
Many HDB flat owners prefer shoebox units when it comes to purchasing private homes, according to a DTZ report.The share of shoebox units, or homes measuring less than 500 sq ft, bought by owners with public housing addresses increased to 62 percent in 2013 from 60 percent the year before....
Continue Reading • 28 Feb 2014
Private property rents may slip further
Despite a sluggish residential sales market, Singapore’s leasing market held firm in the fourth quarter of 2013 and for the entire year, revealed a Savills report.In Q4, leasing transactions increased 4.4 percent to 11,975 compared to the same period in 2012, while for the whole year it...
Continue Reading • 28 Feb 2014
2 EC sites draw top bids from MCL Land
MCL Land (Brighton) has emerged as the highest bidder for two adjoining executive condominium (EC) plots in Choa Chu Kang Grove, submitting $232.5 million for Parcel A and $210.1 million for Parcel B.Launched for tender on 16 December 2013, Parcel A has an area of 16,455 sq m and a gross floor...
Continue Reading • 26 Feb 2014
Slow sales reported at Panorama
Slow sales at The Panorama (pictured) have prompted developer Wheelock Properties to make an accounting provision of $110 million for the condominium for the year ended 31 December 2013. "An allowance for diminution in value of $110 million was made on the Ang Mo Kio project (The...
Continue Reading • 26 Feb 2014