Weak demand for resale property to continue: DTZ
By Nikki De Guzman: Singapore saw a sharp decline in residential resale volumes across all segments in the first quarter of 2013, according to a DTZ report. The quarterly and year-on-year drop is a “stark contrast” to 2012, when resale deals rebounded following the introduction of the...
Continue Reading • 23 May 2013
No signs of asset bubble in Asia: economist
By Shabnam Muzammil:Asia is unlikely to see an asset bubble, although financial tensions could increase in the next 18 months, according to Michael Spencer, Chief Economist at Deutsche Bank.While some of these tensions could take place as record-low interest rates start to pick up from near zero,...
Continue Reading • 22 May 2013
Tudor Close bungalow on sale for $38m
By Shabnam Muzammil:A two-storey freehold bungalow (pictured) at Tudor Close in District 11 is up for sale by tender with a price tag of over S$38 million, said the property’s marketing agent Savills Singapore.Located on a 22,534 sq ft site, the plot has been approved for subdivision into...
Continue Reading • 22 May 2013
Condo sales heat up
By Nikki De Guzman:New mass market projects launched last weekend received strong interest from home buyers, reported The Straits Times. The 380-unit Stratum (pictured) sold 190 of the 250 units released under its initial phase. The 99-year leasehold project by Elitist Development was launched at...
Continue Reading • 22 May 2013
Indonesians are among top buyers of S'pore property
By Romesh Navaratnarajah:Indonesians were the third largest group of overseas property buyers in Singapore during the first quarter of 2013, accounting for 24 percent of all foreign deals. “Indonesia’s purchase position rose one percent from 2012,” said Novriyanto Lius, a...
Continue Reading • 22 May 2013
Govt not doing enough to curb soaring house prices: survey
By Romesh Navaratnarajah:The government’s recent cooling measures to moderate property prices are still not enough, according to 60 percent of the 662 online respondents in PropertyGuru’s latest Property Sentiment Survey for the second quarter of 2013.This is 13 percent higher than...
Continue Reading • 22 May 2013
Vesak Day Seminar at Sennett Residence
By Romesh Navaratnarajah:PropertyGuru, Asia’s leading property portal, in partnership with developer Tuan Sing Holdings Limited, is organising a Vesak Day Special Invitation Consumer Seminar at 12:30pm this Friday (24 May).The seminar will feature three key speakers: Keith Cheong, Head of...
Continue Reading • 22 May 2013
200 units at Reflections project still unsold
By Nikki De Guzman:With around 200 units still left unsold, property agents for Keppel Land’s Reflections project (pictured) are worried that it will be difficult to rent out the remaining homes. According to CIMB, most owners had cut rents to as low as S$4 psf which amounts to a 2.4...
Continue Reading • 21 May 2013
70 units sold at preview of Keppel Bay condo
By Nikki De Guzman:Corals at Keppel Bay (pictured) sold 70 units at its preview over the weekend, with most of the buyers being Singaporeans and permanent residents (PRs). Located at Keppel Road, the 366-unit condominium development by Keppel Land comprises one- to two-bedroom apartments between...
Continue Reading • 21 May 2013
Hougang's private properties hotting up
By Shabnam Muzammil:The mature estate of Hougang is moving away from being a mainly public housing enclave with the recent launch of new private housing developments, reported The Straits Times.According to experts, 2,319 new homes will be added to the 12,457 private properties and 496 executive...
Continue Reading • 20 May 2013
Hougang oddity still unsold after 11 years
By Nikki De Guzman:A three-storey corner terrace house (pictured) on a unique wedge-shaped site in Hougang is up for sale below the valuation price, reported The Straits Times. Offered on a 99-year lease and completed in 2002, the 6,813 sq ft property has remained unsold for the last 11...
Continue Reading • 20 May 2013
Marina Bay to get a lot livelier
By Romesh Navaratnarajah:Following the grand opening of Marina Bay Financial Centre (MBFC) on Wednesday, the Marina Bay area is set to get more homes, offices and shops in the next few years, noted analysts. Several land parcels in the area have also not been developed yet.MBFC has also...
Continue Reading • 17 May 2013
Corals at Keppel Bay launches preview sales
By Nikki De Guzman:The first 100 units released for sale at Corals at Keppel Bay (pictured) will likely be sold from S$1,800 psf to S$3,000 psf, reported The Business Times.Offered on a 99-year lease, the condominium development comprises 336 units in 11 four and 10-storey blocks.The first batch...
Continue Reading • 17 May 2013
Still no confirmed buyer for $300m bungalow
By Romesh Navaratnarajah:The tender for the S$300 million bungalow (pictured) at 33 Nassim Road closed yesterday with no confirmation on a buyer, reported The Straits Times.Karamjit Singh, Head of Investments and Residential at Jones Lang LaSalle, said that bids were received but declined to give...
Continue Reading • 17 May 2013
Drastic drop in April new home sales
By Romesh Navaratnarajah:New private home sales for April 2013 dropped more than 50 percent from the previous month to reach 1,375 units, according to data released by the Urban Redevelopment Authority (URA).Year-on-year, this is a 45 percent decline. Including executive condominiums (ECs), home...
Continue Reading • 16 May 2013
Condo launching in Pasir Ris, price likely at S$900 psf
By Nikki De Guzman:Stratum (pictured), a near residential development along Elias Road in Pasir Ris will be launched this Saturday (18 May).Offering a resort-style concept, the 380-unit project comprises apartments ranging from studios to five-bedroom units and penthouses. Dual-key homes will...
Continue Reading • 16 May 2013
Foreign demand for S'pore homes falls to lowest since global financial crisis
By Romesh Navaratnarajah:The drop in private home sales in Q1 2013 was a result of the tough property cooling measures introduced in January, according to Jones Lang LaSalle.Resale transactions of condominiums in prime districts 9, 10 and 11 declined 61 percent to 144 units during the period....
Continue Reading • 16 May 2013
MBFC devt sees grand opening
By Romesh Navaratnarajah:Marina Bay Financial Centre (MBFC), the largest integrated development in Singapore’s CBD was officially opened by Prime Minister Lee Hsien Loong on Wednesday.MBFC comprises three office towers of nearly three million sq ft of prime Grade A office space. There are...
Continue Reading • 16 May 2013
Govt releases 5 more sites for sale in May
By Romesh Navaratnarajah:The URA and HDB will release five residential sites this month under the Government Land Sales (GLS) Programme for the first half of 2013.Offered on 99-year leases, the sites will yield around 2,725 housing units providing more options for developers and home...
Continue Reading • 15 May 2013
S'pore housing heading for a downturn, says developer
By Romesh Navaratnarajah:With a surge of new homes coming on to the market, Singapore’s housing sector will soon become a buyer’s market as developers continue to provide attractive incentives, according to experts.Chris Comer, CEO of Castlewood Group, the developer of Nikki Beach...
Continue Reading • 15 May 2013