Qingjian wins tender for Woodlands EC site
By Romesh Navaratnarajah:The tender for an executive condominium site (EC) site at the junction of Woodlands Avenue 5 and 6 has been awarded to Qingjian Realty (South Pacific) Group, after it submitted the highest bid of S$216 million or S$341.21 psf ppr.Offered on a 99-year lease, the 226,088 sq...
Continue Reading • 14 May 2013
Luxury home prices slide 4.3%
By Romesh Navaratnarajah:With the introduction of recent property curbs, prices of luxury homes in Singapore are expected to fall by up to five percent for the rest of the year, according to Jones Lang LaSalle.Prices in the first quarter fell by 0.6 percent quarter-on-quarter, and 4.3 percent...
Continue Reading • 14 May 2013
Groundbreaking for new Tampines town hub
By Shabnam Muzammil:More than 2,500 Tampines residents took part in a ground-breaking ceremony over the weekend and witnessed development plans and a scale model of Singapore’s largest integrated town hub to be built on a site the size of seven football fields, reported The Straits...
Continue Reading • 13 May 2013
Tough measures hurting resale market: analysts
By Romesh Navaratnarajah:The recent slew of property cooling measures has pushed buyers away from resale homes and into the primary market, experts noted.Last month, only 572 resale units changed hands, which is 54 percent lower than the 1,240 homes sold during the same period in 2012. Along with...
Continue Reading • 13 May 2013
Twin Fountains' $1.64m penthouses sold out
By Romesh Navaratnarajah:The Twin Fountains executive condominium (EC) in Woodlands has seen strong interest from buyers, with the only two available penthouses sold for S$1.64 million each. Aside from both units which are vast – measuring 2,207 sq ft, 104 dual-key units were also snapped...
Continue Reading • 13 May 2013
Woodlands residential site draws $216m top bid
By Shabnam Muzammil:An executive condominium (EC) site at the junction of Woodlands Avenue 5 and 6 received a total of seven bids when HDB closed its tender yesterday.The 99-year leasehold plot attracted a top offer of S$216 million or S$341.21 psf ppr from Qingjian Realty (South Pacific) Group....
Continue Reading • 10 May 2013
New property launches in May
By Romesh Navaratnarajah: To take advantage of the private housing market rebound in March, developers are launching a slew of new projects set to come on to the market this month.Launches include The Siena, Ferra, Hallmark Residences, The Flow@East Coast, Cluny Park Residence, KAP & KAP...
Continue Reading • 10 May 2013
Agent seminar next week
By Nikki De Guzman:PropertyGuru, Asia’s leading property portal, will be organising its Agent Seminar 2013 next Tuesday (14 May) at the HDB Auditorium, B1. The seminar will bring together top property experts to provide insights on the market and opportunities awaiting Singaporeans in the...
Continue Reading • 10 May 2013
More housing concepts sought, says expert
By Romesh Navaratnarajah:Professionals, managers, engineers and technicians (PMETs) in Singapore expect more private housing options, said Dr Chua Yang Liang, Research Head at Jones Lang LaSalle in a recent workshop.This group of buyers are “more well-read, well-travelled and more...
Continue Reading • 9 May 2013
Husband wins right to $20m bungalow
By Romesh Navaratnarajah: A retired businessman has won the right to keep an S$20 million bungalow in Chancery Lane after the High Court made its decision on the case. Justice Choo Han Teck ruled that See Fong Mun, 86, who paid for the property purchased in 1983 is the rightful owner, even though...
Continue Reading • 9 May 2013
Freehold residential site up for en bloc sale
By Nikki De Guzman:A residential site at Tampines Road is up for collective sale with an indicative selling price of S$132 million to S$135 million, according to marketing agent ERA Realty Network. The freehold Yi Mei Garden (pictured) comprises a land area of 78,030.38 sq ft and gross plot ratio...
Continue Reading • 8 May 2013
Far East previews SOHO project
By Romesh Navaratnarajah:Property developer Far East Organization has launched the preview for The Siena (pictured), a new SOHO development comprising 54 apartments that range from one- to three-bedroom units.The Business Times reported that the majority are two-bedder apartments catering to...
Continue Reading • 7 May 2013
Pan Pacific Serviced Suites Beach Road opens
By Nikki De Guzman:The 180-unit Pan Pacific Serviced Suites (pictured) along Beach Road opens its doors today. Located close to Arab Street and the CBD, the S$100 million development offers four types of suites ranging from a one-bedroom deluxe suite to the two-bedroom premium suite. All...
Continue Reading • 7 May 2013
Taxman collects $1.03 billion in ABSD
By Shabnam Muzammil:Singapore recorded a significant hike in tax revenue due to the additional buyer’s stamp duty (ABSD) introduced in January, reported The Straits Times.The Inland Revenue Authority of Singapore (IRAS) stated that the government collected around S$158 million in ABSD from...
Continue Reading • 6 May 2013
HK, Dubai are hottest property markets
By Romesh Navaratnarajah:Supported by the sharp rise in average home prices, Hong Kong and Dubai have emerged as the top two destinations in ‘The Hottest Real Estate Markets on Earth’ 2012 ranking by Forbes.Notably, Hong Kong house prices soared a whopping 23.6 percent. Currently, a...
Continue Reading • 6 May 2013
Khaw reminds buyers to exercise prudence
By Romesh Navaratnarajah:Home buyers need to take future interest rate hikes into account when making decisions on property purchases, cautioned National Development Minister Khaw Boon Wan.In the latest National Conversation for property, he reminded buyers that prices will not always move...
Continue Reading • 6 May 2013
Japanese developers stay positive on Singapore property
By Shabnam Muzammil:Despite on-going economic uncertainty in Singapore, Japanese developers remain optimistic about investing in the city-state, reported The Business Times.Most have credited their success to joint ventures with more established local developers.However, the recent property...
Continue Reading • 3 May 2013
Rental market faces roadblocks
By Nikki De Guzman:Aside from an expected surge in new completions, there are other headwinds that Singapore's residential property market will face in the future, according to Nomura. One of the concerns is higher property taxes due to changes in Budget 2013, like the removal of property...
Continue Reading • 3 May 2013
Plans unveiled for Singapore's tallest building
By Shabnam Muzammil:Singapore-listed developer GuocoLand has unveiled details of its upcoming Tanjong Pagar Centre (pictured). Set to become the city-state's tallest building, the 290m mixed-use development will be located above Tanjong Pagar MRT station.It comprises Guoco Tower, a 38-storey...
Continue Reading • 3 May 2013
Singapore's super-prime home sales value to rise 27%
By Romesh Navaratnarajah:The value of residential property purchases worth more than US$15.5 million (S$19.18 million) in London, New York, Hong Kong and Singapore is expected to rise by 27 percent in the next five years, according to a report.Produced by British luxury developer Candy &...
Continue Reading • 3 May 2013