Big shift to commercial & overseas property: expert
By Cheryl Tay: The recent introduction of market cooling measures is unlikely to have much impact on commercial and overseas real estate investor sentiment, according to some analysts. Last week’s launch of Alexandra Central (pictured) next to Ikea saw nearly all of its strata retail...
Continue Reading • 28 Jan 2013
Private home sales & price growth fall in 2012
By Romesh Navaratnarajah:Prices of private homes in Singapore increased by 1.8 percent in the fourth quarter of 2012, compared to just 0.6 percent in Q3 2012. For the entire year, private home prices grew by 2.8 percent, compared with an uptick of 5.9 percent in 2011. These latest figures were...
Continue Reading • 25 Jan 2013
Yishun mixed-use site attracts 13 bids
By Romesh Navaratnarajah:A mixed commercial and residential site (pictured) at Yishun Ring Road/Yishun Avenue 9 attracted a total of 13 bids when its public tender closed today, said the Housing and Development Board (HDB).Launched for sale on 27 November 2012, the 99-year leasehold site has a...
Continue Reading • 24 Jan 2013
Injection of 200,000 homes unlikely to cause price crash
By Romesh Navaratnarajah: The government recently announced a steady supply of residential units in the next four years that will provide more housing options for Singaporeans.In his blog post last week, National Development Minister Khaw Boon Wan said around 200,000 new homes comprising HDB...
Continue Reading • 24 Jan 2013
Mount Sophia generating buzz
By Romesh Navaratnarajah: The Mount Sophia/Wilkie Road enclave is fast becoming a new property hotspot, mainly due to its central location and availability of city amenities. At the same time, more developers are purchasing land parcels in the area for redevelopment purposes. Recently,...
Continue Reading • 24 Jan 2013
GCBs still hot despite cooling measures
By Romesh Navaratnarajah: A good class bungalow (GCB) at 8 Chee Hoon Avenue will be auctioned next month and is expected to fetch S$23 million, said marketing agent Savills.With a land area of 15,184 sq ft, the elevated site offers a 37m frontage. It is within close proximity to various amenities...
Continue Reading • 21 Jan 2013
Over 210 units sold at Q Bay Residences preview
By Romesh Navaratnarajah: More than a third or over 210 units at the 630-unit Q Bay Residences in Tampines were snapped up as of 6pm today at its preview, an indication of strong demand from home buyers despite the recent slew of property cooling measures.The condominium project is being jointly...
Continue Reading • 21 Jan 2013
Downpour blamed for fall in condo sales
By Romesh Navaratnarajah: A notable drop in sales of condominium units at Q Bay Residences was seen at its launch over the weekend. Some 105 units were sold over two days compared to more than 210 at Friday’s preview. This brought total sales at the 99-year leasehold 630-unit development in...
Continue Reading • 21 Jan 2013
Singapore cooling: Discounts offered but raises concerns
By Romesh Navaratnarajah: Some property developers are providing “incentives” to home buyers in response to the government’s latest round of cooling measures which is expected to hit the market hard.For instance, Frasers Centrepoint Homes announced that it will be offering...
Continue Reading • 18 Jan 2013
Q Bay Residences launching amid market uncertainty
By Romesh Navaratnarajah: Q Bay Residences (pictured), a new condominium project in Tampines will launch tomorrow (19 January) amid an uncertain market. The first private residential development to be launched just a week after the government implemented strict cooling measures; it is also...
Continue Reading • 18 Jan 2013
MRT expansion to push up housing prices, but some risks
By Shabnam Muzammil: UPDATE: 80 percent of Singapore’s population will live within a 10-minute walk of an MRT station by 2030.Two new MRT lines were unveiled today - the Cross Island Line (CRL) and the Jurong Region Line (JRL) - in addition to the extension of three existing lines that will...
Continue Reading • 17 Jan 2013
Singapore cooling: En bloc deals to be subdued
By Shabnam Muzammil: The outlook for the en bloc market has become bleak in the aftermath of the latest round of cooling measures, according to experts. “I think these measures caught everyone by surprise. For en bloc developers, the first couple of months will show more subdued dealing of...
Continue Reading • 17 Jan 2013
Singapore cooling: Expect big rental boost
By Shabnam Muzammil:Singapore’s private rental market is expected to thrive in the aftermath of the property cooling measures introduced last Friday. Experts predict that a large number of property hunters, especially permanent residents (PRs) and foreigners will shift towards renting...
Continue Reading • 16 Jan 2013
Singapore cooling: Commercial property offers some opportunities
By Cheryl Tay: Although the latest round of cooling measures focuses mainly on residential property, the rules affecting industrial property which were introduced for the first time last week have no doubt stirred investors. To discourage short-term speculative activity which can distort prices...
Continue Reading • 16 Jan 2013
30% spike in new private home sales
By Romesh Navaratnarajah: Singapore recorded a stronger than expected month for new private home sales in December 2012, with 1,410 units sold last month. This is a 30 percent increase from the previous month which saw 1,087 private homes sold, and a whopping 123 percent hike compared to a year...
Continue Reading • 15 Jan 2013
Closing date for Jurong West site tender pushed back
By Romesh Navaratnarajah: The closing date for a residential site tender at Jurong West Street 41 (Parcel A) has been extended to give developers enough time to prepare their respective bids, taking into consideration the new wave of property cooling measures announced last Friday. The Urban...
Continue Reading • 14 Jan 2013
Singapore cooling: Your views
By Cheryl Tay and Shabnam Muzammil: Two days after the government's slew of property cooling measures came into effect, the general view from members of the public is that the policies are quite helpful, but not for everyone.To get a better understanding of how the curbs will impact home...
Continue Reading • 14 Jan 2013
Singapore cooling: Property measures spell danger
By Romesh Navaratnarajah:Singapore’s sweeping package of property cooling measures to curb rising home prices not only applies to foreigners buying properties in the city-state, but has gone one step further to include permanent residents (PRs) and citizens.Introduced last Friday, this is...
Continue Reading • 14 Jan 2013
Tiny homes under scrutiny
By Romesh Navaratnarajah: Many Singaporeans might think that shoebox units are small but there’s another type of micro home that has taken off in other parts of Asia, most notably in China and Japan. Called capsule homes, such units are much smaller than shoebox apartments. Some of...
Continue Reading • 11 Jan 2013
Property prices still on the rise
By Cheryl Tay:Despite the government’s efforts to control property prices, Singapore home prices continue to climb. Hence, analysts expect to see more cooling measures from the government to avoid a property bubble.Driven by high demand and low interest rates, prices will likely rise by...
Continue Reading • 10 Jan 2013