Foreign buying may suffer due to ABSD
As the effects of the additional buyer’s stamp duty (ABSD) grow in the next few months, buying behaviour among foreign purchasers could change significantly, according to consultants.In the case of Indonesians, the ABSD and the existing seller's stamp duty may prove too much from an...
Continue Reading • 9 Feb 2012
Foreign property buyers set new record
Last year marked a historical high for foreign property buyers in Singapore, led by mainland Chinese, Malaysians, Indonesians and Indians, according to property consultancy Savills Singapore.Compared to all other foreign buyers, Indonesians had generally larger budgets, dominating the Core...
Continue Reading • 9 Feb 2012
Jervois Road residential site awarded for S$118.9m
The Urban Redevelopment Authority (URA) has awarded a residential site at Jervois Road (pictured) to S.L. Development Pte Ltd, after it submitted the highest bid of S$118.9 million in a public tender that closed on 2 February 2012.Launched for sale on 22 December 2011 under the 2H2011 Government...
Continue Reading • 9 Feb 2012
En bloc deals may accelerate
En bloc sales have seen a notable increase in the last few weeks, with a total of eight sites up for en bloc sale since January.However, analysts claimed the figures were still not positive compared to the prospects, with the demand for such sites staying soft. In fact, collective sales on...
Continue Reading • 8 Feb 2012
Credo data suggests pattern in property prices
Credo Real Estate’s historical data revealed that the odds against Singapore property prices seem to have been fixed. Following a pattern of several quarters of price moderation, negative residential price corrections were last reflected in 1983, 2000 and 2008. Notably, this pattern became...
Continue Reading • 8 Feb 2012
More buyers shifting to non-HDB homes
An increasing number of home buyers are now turning to non-HDB homes, with ECs becoming their top choice, according to R'ST Research.Purchases for non-HDB homes such as landed, non-landed private and EC units hit a record of 13,910 units in 2011, up from 13,769 units in 2010. ECs now account for...
Continue Reading • 7 Feb 2012
Brisk sales continue at mass market projects
Mass market residential units have continued to receive overwhelming response, with The Tampines Trilliant executive condominium (EC) and Parc Rosewood condo boasting brisk sales.At Sim Lian’s The Tampines Trilliant showflat (pictured), 149 units have been sold since bookings opened last...
Continue Reading • 7 Feb 2012
Negative side effects of ABSD temporary, say consultants
Although the additional buyer's stamp duty (ABSD) was placed on foreign buyers recently, expatriates still continue to search for good property deals, according to consultants.“International buyers are still looking to buy,” said Jacqueline Wong, Head of Residential and National...
Continue Reading • 6 Feb 2012
EC demand remains healthy
Subscription rates for executive condominium (EC) units will remain healthy despite the bleak economic outlook, as the climate for such housing will likely stay, according to property analysts.“We have a very good mixture of first-timers and second-timers, and we do see that there’s a...
Continue Reading • 6 Feb 2012
REDAS gives a dull note on property sentiment
January recorded plenty of new private home sales but an industry body has warned that market sentiment may be duller.Wong Heang Fine (pictured), President of the Real Estate Developers' Association of Singapore (REDAS), said the strong number of private homes sold in January must be viewed in...
Continue Reading • 6 Feb 2012
Residential site at Jervois Road draws 17 bids
A residential site at Jervois Road has attracted a total of 17 bids, with S.L. Development Ltd offering the highest bid of S$118.9 million in a public tender that closed yesterday.“The site attracted a very good response of 17 bids because of its strong location attributes and the lower...
Continue Reading • 3 Feb 2012
The Tampines Trilliant oversubscribed
The application period (27 - 31 January) for Sim Lian Group’s latest EC project, The Tampines Trilliant, closed yesterday evening, with approximately 1,000 applications submitted.Approximately 60 percent of the applicants reside in Tampines as well as other estates in the eastern region,...
Continue Reading • 3 Feb 2012
Seletar Garden goes en bloc
Seletar Garden, a freehold mixed-use project off Yio Chu Kang Road, has been launched for tender with an indicative price of between S$80 million and S$85 million.Marketing agent Credo Real Estate said more than 80 percent of the owners have already signed the en-bloc sale agreement to sell the...
Continue Reading • 3 Feb 2012
More new launches amid worries over ABSD
A slew of new projects are set to be launched by property developers even as they mull over the best action to take in response to the additional buyer's stamp duty (ABSD) set by the government.Frasers Centrepoint, for instance, will launch its 99-year leasehold Twin Waterfalls executive...
Continue Reading • 3 Feb 2012
Calls made to increase ABSD to 20%
With the robust property sales seen in January, some netizens have proposed that the 10 percent additional buyer’s stamp duty (ABSD) be increased. Over at the Parc Rosewood condo development, more than 165 of the 236 units released were snapped up and there’s also been strong take-up...
Continue Reading • 3 Feb 2012
High prices don't stop EC buyers
Property developer Sim Lian’s latest executive condo (EC), The Tampines Trilliant, has seen strong interest with approximately 1,000 applications received for its 670 units when the application period closed on 31 January. The news has come as a surprise to some, considering that prices for...
Continue Reading • 2 Feb 2012
Foreigners snap up fewer homes
Fewer non-PR foreigners picked up private homes in January, as opposed to December when it had spiked, according to preliminary figures. A DTZ Research caveat analysis revealed that foreign buyers’ share grew from 16 percent in November to 23 percent in December. However, January’s...
Continue Reading • 2 Feb 2012
Watertown leads robust home sales for January
January’s private home sales may have improved from the mere 632 units sold in December, as developers could have sold about 1,700 to 1,800 private homes, not including executive condominiums (ECs).Sales dropped 53 percent year-on-year and 63 percent month-on-month in December, down from...
Continue Reading • 2 Feb 2012
Asia Pacific's luxury property market cooling off
Average capital values of eight luxury residential markets in the Asia Pacific region rose by only 0.2 percent in the fourth quarter, according to the latest Asia Pacific Residential Index released by Jones Lang LaSalle (JLL).The property consultancy said Bangkok, Beijing, Mumbai and Jakarta...
Continue Reading • 2 Feb 2012
Crystal Tower up for collective sale again
Crystal Tower, a 28-unit residential development off Bukit Timah Road, has been re-launched for collective sale at S$150 million.“Indicative pricing for Crystal Tower is S$150 million, which works out to S$1,458 psf ppr. A development charge of approximately S$5.22 million is payable up to...
Continue Reading • 2 Feb 2012