SMART Expo is back in town
By Romesh Navaratnarajah: Now in its 27th year, the SMART Investment and International Property Expo (pictured) will take place this weekend (8 – 9 September) at the Sands Expo and Convention Centre, Hall A, Marina Bay Sands, Singapore. This year’s exhibition will feature a range of...
Continue Reading • 5 Sep 2012
Two residential sites launched to yield 950 homes
By Romesh Navaratnarajah: The Urban Redevelopment Authority (URA) and Housing and Development Board (HDB) have jointly launched the public tender for two 99-year leasehold residential sites at Dairy Farm Road and Punggol Way/Punggol Walk (pictured). Estimated to yield a total of 950 homes, the...
Continue Reading • 5 Sep 2012
Property auction sales still slow
By Romesh Navaratnarajah: Eleven properties were put up for sale at an auction held by Knight Frank Singapore last week, of which two were sold even before the event. The properties that changed hands are a 904 sq ft two-bedroom condominium unit and a retail space along Petir Road. The condo at...
Continue Reading • 5 Sep 2012
Punggol EC site receives 3 bids
By Romesh Navaratnarajah: A total of three bids were submitted for a 99-year leasehold residential site (pictured) at Punggol Way/Punggol Walk, with Qingjian Realty (South Pacific) Group submitting the highest offer of S$189.87 million or S$314 psf ppr. Slated for the development of around 560...
Continue Reading • 5 Sep 2012
Developers hold back on luxury projects
By Romesh Navaratnarajah: Several property developers are holding back their new launches and the completion of high-end residential projects in the hope that luxury property prices will soon appreciate. While suburban homes have set price records, the luxury sector has seen both prices and...
Continue Reading • 4 Sep 2012
Farrer Road tender awarded to Far East SOHO
By Romesh Navaratnarajah: The tender for a residential site (pictured) at Farrer Road has been awarded to Far East SOHO after it submitted the top bid of S$45.77 million, said the Urban Redevelopment Authority (URA). With a land area of 0.27-ha, the site was launched for sale on 30 July with a...
Continue Reading • 4 Sep 2012
Pearls Centre owners want more compensation
By Romesh Navaratnarajah: Following news of the relocation, property owners at Pearls Centre (pictured) have called on the authorities for more compensation considering the potential en bloc value of their property. About three months ago, a collective sales committee was set up for the...
Continue Reading • 3 Sep 2012
Good finds near Thomson MRT Line
By Romesh Navaratnarajah: Property buyers searching for long-term capital gains are on the lookout for good investments near the Thomson Line (TSL), as the project will likely contribute to a hike in property prices within a 500-m radius. While some estates are already well-positioned to benefit...
Continue Reading • 3 Sep 2012
Pearls Centre valued between S$450m to S$600m
By Romesh Navaratnarajah:The strata-titled Pearls Centre (pictured) in Chinatown is believed to have a market value of between S$450 million and S$600 million, but the government’s compensation may not reach that range, according to consultants. Dennis Chiu, Managing Director at Tang Group...
Continue Reading • 31 Aug 2012
US firms unhappy over Singapore housing costs
By Romesh Navaratnarajah: US companies in Singapore are unhappy with housing prices in the city-state, according to a survey conducted by the US Chamber of Commerce and the American Chamber of Commerce (AmCham). The survey, which polled senior executives of US companies, revealed that 77 percent...
Continue Reading • 31 Aug 2012
Thomson MRT Line to boost property prices
By Romesh Navaratnarajah: Following the announcement of plans for the Thomson Line (TSL) project, consultants expect property prices in the north to go up. According to Alan Cheong, Research Head at Savills Singapore, residents in Seletar, Springleaf and Lentor, who are currently...
Continue Reading • 31 Aug 2012
Water features becoming popular among homeowners
By Romesh Navaratnarajah: More Singaporeans are incorporating pools and water features in their homes, to relive the ambience of holiday resorts they have visited. Eugene Ooi, Founder of Vantage Design, said: “Singaporeans these days are becoming even more well-travelled than before,...
Continue Reading • 31 Aug 2012
Property investment in Asia resilient amid slowdown
By Romesh Navaratnarajah: Amid the global economic slowdown and China’s weak outlook, Asia’s real estate market is expected to see continued investment demand buoyed by interest for greater diversification and strong yields, according to Pacific Star Group’s Asian Property...
Continue Reading • 30 Aug 2012
Shoebox demand to fall if singles could buy new flats
By Romesh Navaratnarajah:If singles are allowed to purchase new flats directly from the Housing and Development Board (HDB), the demand for shoebox units could decline, according to property consultants. “Private apartments in the shoebox category (which singles below 35 used to have to buy...
Continue Reading • 29 Aug 2012
Suburban condo prices hold up
By Romesh Navaratnarajah:The Singapore Residential Price Index (SRPI) series released by the National University of Singapore (NUS) has revealed that suburban condos and private apartments – excluding small units – were the best price performers year-to-date. The flash estimates for...
Continue Reading • 29 Aug 2012
Three residential sites sold in collective sale
By Romesh Navaratnarajah:Sysma Properties, a wholly-owned subsidiary of Sysma Holdings, has acquired Serangoon Mansion and 23 Race Course Lane (pictured) for a total price of S$22.8 million, said Knight Frank. The two adjoining freehold redevelopment sites offer a combined land area of 7,641 sq...
Continue Reading • 29 Aug 2012
Home sales drop in Sentosa Cove
By Romesh Navaratnarajah: The home sales volume in exclusive Sentosa Cove (pictured) appears to be falling, as only 44 homes were sold during the first eight months of 2012, similar to the 46 homes sold over the same period last year, based on caveats lodged with the Urban Redevelopment Authority...
Continue Reading • 29 Aug 2012
Farrer Road site fetches top bid of S$45.7m
By Romesh Navaratnarajah:The tender for a residential site at Farrer Road (pictured) closed yesterday with a top bid of S$45.7 million submitted by Far East SOHO, according to the Urban Redevelopment Authority (URA).A total of 15 bidders expressed interest for the 0.27-ha site that was launched...
Continue Reading • 29 Aug 2012
Residential leasing volume rose significantly in July
By Romesh Navaratnarajah:Leasing volume for residential properties increased substantially by 11 percent month-on-month to 4,717 in July this year, according to recent data from the Urban Redevelopment Authority (URA). Leasing transactions for both non-landed and landed homes increased by 11...
Continue Reading • 29 Aug 2012
Elderly man hurt in illegal subletting probe
By Romesh Navaratnarajah: A 60-year old man was physically injured after attempting to take photos as evidence of alleged illegal subletting of homes in People’s Park Centre (pictured). The incident took place on 17 August when Mr C.C. Lee was trying to take pictures of two Indonesian...
Continue Reading • 29 Aug 2012