Upper Paya Lebar residential site receives 7 bids
A residential site at Upper Paya Lebar Road has attracted strong interest from developers, with seven bids submitted when the tender closed on Tuesday, revealed the URA. UOL Overseas Investments submitted the highest bid of S$392.30 million, which works out to S$648 psf ppr.It was followed by EL...
Continue Reading • 16 Jan 2014
Major price correction unlikely says DTZ
After the government's total debt servicing ratio (TDSR) framework was implemented in June 2013, fewer property launches and private home sales were seen in the months that followed compared to any other period in the past three years, according to information compiled by DTZ.DTZ noted that the...
Continue Reading • 16 Jan 2014
'Perfect storm' caused plunge in new home sales
The month of December was a dismal period for developers looking to sell housing units, according to several analysts. Data published on Wednesday by the URA revealed that sales of new private homes excluding executive condominiums (ECs) hit a five-year low of 259 units in the last month of...
Continue Reading • 16 Jan 2014
Five-year low for new private home sales
New private home sales for the month of December 2013 plunged almost 80 percent to just 259 units, revealed data published on Wednesday by the URA. Including executive condominiums (ECs), 333 units were sold last month compared to the 1,714 units taken up in November 2013.This is the lowest...
Continue Reading • 15 Jan 2014
HDB awards Westwood Ave EC site to highest bidder
The Housing & Development Board (HDB) has awarded the tender for an executive condominium (EC) site at Westwood Avenue to Changi Properties and Heeton Homes after they submitted the highest bid of S$198.9 million. Launched for sale on 31 October, the site has attracted 12 bids during its...
Continue Reading • 15 Jan 2014
Overseas shows back with a bang
Singapore’s love of overseas property investments shows no signs of stopping with opportunities from around the world being showcased in the city-state this weekend after a quiet few weeks over the festive period. Opportunities from the United Kingdom, Australia, Japan and Malaysia will be...
Continue Reading • 13 Jan 2014
Major Orchard Road mall up for sale
A prominent Singapore retail mall has been launched for sale by expression of interest.Marketed by Knight Frank Singapore, 228 Orchard Road (pictured) sits on a land area of 824.55 sq m (approx. 8,875 sq ft). Under the 2008 Master Plan, the site is designated as “Commercial” with a...
Continue Reading • 13 Jan 2014
District Watch: District 7
District 7 is a colourful kaleidoscope of high-rise office buildings, old-world charm and a retail haven that exists in the form of glittery malls and back-alley street stalls.The district is served by Bugis, Esplanade, Nicoll Highway and Promenade MRT stations and the upcoming Rochor MRT...
Continue Reading • 13 Jan 2014
District Watch: District 14
In every edition of The PropertyGuru, we’ll be taking a closer look at one district in Singapore. We’ll be looking at the key buying factors and identifying properties worth a closer look. In this edition, Cheryl Tay and Nikki De Guzman shine the spotlight on District 14. Comprising...
Continue Reading • 13 Jan 2014
Prices at The Premiere too high: analysts
Residents at The Premiere (pictured) in Tampines Avenue 6 are confident that they can sell their units at good prices due to the strategic location of the development and its amenities. But analysts believe that given the state of Singapore’s property market, they will likely be...
Continue Reading • 13 Jan 2014
Bleak outlook for S-Reits in 2014
With investors shunning Asian markets for greener pastures offered by recovering developed markets, the prospects of Singapore-listed real estate investment trusts (S- Reits) appears gloomy in 2014, according to analysts.Singapore Reits are also expected to face stiffer competition from its other...
Continue Reading • 13 Jan 2014
Developers venture overseas amid Singapore, Hong Kong curbs
Property developers in Hong Kong and Singapore are venturing overseas following the introduction of some of the most-restrictive property curbs by their respective governments last year, according to media reports.Given the stifled demand at their home turf, these developers are shifting their...
Continue Reading • 13 Jan 2014
Principal move for Koh and Mittag
North America-based Principal Real Estate Investors has hired Shern-Ling Koh and Julian Mittag as portfolio managers within the Global Real Estate Property Securities team. Both Koh and Mittag will be based in Singapore where they will be responsible for identifying investment...
Continue Reading • 10 Jan 2014
300 new homes in London to go on sale this weekend
Over 300 new houses located at the gateway to Queen Elizabeth Park in London will be launched for sale over the weekend (11-12 January) in Singapore at The Regent Hotel’s Boardroom II & III, Colliers International revealed today.The new houses at Glasshouse Gardens (pictured) are part...
Continue Reading • 10 Jan 2014
No drop in real estate salespersons
Despite a decline in property transactions, there has been no substantial drop in the number of licensed real estate salespersons in Singapore.As of January 1 2014, and according to data published by the Council for Real Estate Agencies (CEA), the city-state was home to 1,425 licensed real estate...
Continue Reading • 10 Jan 2014
Residential investment down 37%: DTZ
Residential investments in Singapore for 2013 declined by around 37 percent year-on-year to S$6.4 billion, on the back of fewer transactions for Government Land Sales (GLS) sites and tepid activity in the collective sales market, said a report from DTZ.Only two private residential GLS sites at...
Continue Reading • 9 Jan 2014
Long House sold for $45 million
Knight Frank Singapore has reported the sale of Long House Food Centre at Upper Thomson Road to TEE Ventures, a subsidiary of TEE Land, for S$45.2 million.The popular food court has a land area of 1,575.6 sq m (approx. 16,960 sq ft). Under the 2008 Master Plan, the freehold site is designated as...
Continue Reading • 8 Jan 2014
Westwood Ave EC site draws 12 bids
An executive condominium site at Westwood Avenue (pictured) has received strong interest from developers, attracting a total of 12 bids when the tender exercise closed on Tuesday, said the HDB. The top bid of S$198.9 million was submitted by Changi Properties and Heeton Homes. This translates to...
Continue Reading • 7 Jan 2014
4 reasons why 2014 could be a turbulent year for Singapore property
Based on the latest URA private property price index (PPPI) flash estimates, we know that the PPPI, which represents the overall real estate price trend, dipped in Q4 2013. This is the first dip the market has seen in the last two years.At present, there are numerous views that the real estate...
Continue Reading • 7 Jan 2014
Office market is getting stronger: report
The Singapore office market is showing signs of recovery post rental corrections that started in Q1 2012 as reflected in data for Q4 2013, revealed a CBRE report.Over the last few quarters, decentralised market activity has been fairly strong as evidenced by the high pre-commitment levels...
Continue Reading • 7 Jan 2014