UOL to acquire prime residential site at St Patrick's Rd
Property developer UOL Group Ltd, through its wholly-owned subsidiary, Flamegold Pte Ltd, will acquire St Patrick's Garden, a 137,561 sq ft freehold residential site at St Patrick’s Road, for approximately S$172 million.“Flamegold Pte Ltd has exercised an option to purchase and...
Continue Reading • 16 Dec 2011
Punggol Central condo site attracts 13 bids
The HDB has closed the tender for a 99-year leasehold site located along Punggol Central/Punggol Place, with a total of 13 bids received.Wee Hur Development Pte Ltd offered the top bid of S$206.20 million, or S$3,814.41 psm of gross floor area (GFA).A consortium comprising Opal Star Pte Ltd and...
Continue Reading • 16 Dec 2011
Private home sales rise 13 percent in November
Despite fears that Singapore's property market could slide after the government launched a harsh round of cooling measures last week, data from the Urban Redevelopment Authority (URA) shows that the market is still very robust. In November, the total number of private housing units transacted...
Continue Reading • 16 Dec 2011
Far East still confident in property market
Far East Organization remains optimistic in the long-term prospects of the property market despite the recent government cooling measures. At a seminar held last night at The Scotts Tower (TST) showflat, the developer told a packed audience that it expects Singapore's housing market to remain...
Continue Reading • 16 Dec 2011
Outside Central Region records robust sales
Mass market homes in the Outside Central Region continue to do well, with Bedok Residences and The Palette leading the way, each selling more than 80 percent of units launched in November.Bedok Residences, a 583-unit condo development in Bedok North saw 477 units snapped up at a median price of...
Continue Reading • 15 Dec 2011
Experts predict house prices will slide
Home-buying activity may stall next year, primarily attributed to a forecasted slowdown in the global economy and the two rounds of property cooling measures implemented this year.Despite the bleak economic outlook, home-buying interest remains robust, as witnessed in the long queues at recent...
Continue Reading • 15 Dec 2011
Developers may dangle incentives to lure buyers
Property developers may start offering incentives to lure buyers, to mitigate the impact of the latest round of cooling measures, as well as to boost their sales, according to analysts in a report by TODAY.“They may have to even align their prices to move sales or look at incentives,”...
Continue Reading • 15 Dec 2011
Sing Holdings to acquire Robin Rd site for S$52m
Sing Holdings will be acquiring another freehold residential site along Robin Road, after entering into a sale and purchase agreement (SPA) to purchase a 16-unit apartment site at 2 to 8 Robin Road for S$52 million.“More than 80 percent of the owners at 2 to 8 Robin Road have consented to...
Continue Reading • 15 Dec 2011
Condo sizes shrink again
The average condo size used to estimate the Government Land Sales (GLS) Programme’s housing supply has shrunk again, as Singapore keeps up with market trends.A Business Times analysis revealed that in the 1H2012 GLS Programme, the average size in terms of gross floor area (GFA) for private...
Continue Reading • 15 Dec 2011
More investors shifting to commercial properties
The number of property investors switching to commercial properties is expected to increase, after the government’s latest measures to cool the residential property market, according to some bankers.They believe that interest in commercial property has been rising for several months, driven...
Continue Reading • 14 Dec 2011
Home sales trickle in despite curbs
Although property buying may have slowed after the implementation of heavier stamp duties last week, sales are still trickling in.As of Sunday, developer SingXpress Land had sold 17 of the 21 units at the cluster housing development Charlton Residences, located near Kovan MRT station.According to...
Continue Reading • 14 Dec 2011
Singapore may lose status as major investment destination
Singapore's reputation as a major property investment destination could be damaged by the implementation of heavier stamp duties, according to The Straits Times.The report noted that the new rules could boost the status of rivals such as Britain and Hong Kong, which do not have such...
Continue Reading • 13 Dec 2011
S'pore property investment sales up 42%
Property investment sales have reached S$6.8 billion so far this quarter, up 42 percent from S$4.8 billion in the previous quarter, according to the latest figures from Savills Singapore.Savills added that about S$28.5 billion of such transactions have been closed since the start of 2011.The...
Continue Reading • 13 Dec 2011
Charlton Residences sees brisk sales
SingXpress Land has sold around 80 percent of its units at Charlton Residences, a 21-unit freehold luxury development in the Kovan area, at an average price of S$2.8 million each (around S$500 psf).“We are very pleased with the strong sales of Charlton Residences. It demonstrates the demand...
Continue Reading • 13 Dec 2011
New home sales drop 15%: Savills
Singapore’s property market has become increasingly cautious, as sales of new homes dropped 15 percent month-on-month in October, according to Savills Research.Due to strong home sales from January to October 2011, about 13,688 new home sales were registered over that period, representing a...
Continue Reading • 12 Dec 2011
Smaller turnout at upmarket showflats
Despite the additional cooling measures announced last week, property showflats still welcomed a steady stream of visitors last Saturday.Property agents, however, reported smaller and more subdued turnouts, unlike previous weekends, according to The Straits Times.The high-end market has been...
Continue Reading • 12 Dec 2011
Developers offer discounts to help buyers
Some property developers are offering discounts to prospective home buyers to offset the effect of the new stamp duty measures implemented by the government last week.According to The Straits Times, Far East Organization (FEO) will offer a five percent relief package to all affected buyers of its...
Continue Reading • 12 Dec 2011
Henry Park site sold for S$175.9m
Kentish View Pte Ltd, a unit of Far East Organization (FEO), has acquired a mixed-use site at Henry Park, off Holland Road for around S$175.9 million, making it the biggest en bloc deal in terms of value this year.According to its marketing agent Credo Real Estate, the District 10 site attracted...
Continue Reading • 12 Dec 2011
Agents, developers rush to do damage control
Property agents and developers were rushing yesterday to stop jittery buyers from backing out of deals and calming fearful sellers about where prices might head in the wake of the new cooling measures.Some agents said they were rushing to find alternatives for local and foreign buyers to acquire...
Continue Reading • 9 Dec 2011
Chestnut Ave site draws 22 bids
The tender for a 99-year leasehold residential site has attracted a substantial 22 bids, despite the latest measures to rein in the housing market.According to the URA, the land parcel at Chestnut Avenue/Almond Avenue saw a top bid of S$70.83 million (S$5,493.74 psm of the site area) from...
Continue Reading • 9 Dec 2011