Property auction sector affected by negative sentiment
The economic situation in the Euro Zone and the US has weakened investor sentiment in the property auction market, according to a recent report by Jones Lang LaSalle (JLL).The property consultancy firm revealed that auction transaction volumes fell in Q3 2011 to the same low in Q1 2009.It noted...
Continue Reading • 11 Oct 2011
Circle Line now fully up and running
The Circle Line rail network is now fully operational, with the opening of the remaining 12 stations from Caldecott to HarbourFront last Saturday. Claiming the lives of four people during a highway collapse in 2004, the 28-station train line took an entire decade to complete. The line stretches...
Continue Reading • 10 Oct 2011
GCB market sees lower Q3 sales
Despite lower good class bungalow (GCB) sales in the third quarter this year, some property agents remain upbeat that the buyer-seller price gap will narrow and lead to more deals in GCB areas in the next three to six months.According to CB Richard Ellis’ analysis of caveats data, there...
Continue Reading • 10 Oct 2011
S'pore property sector underweight: S&P
Standard & Poor’s (S&P) has labelled Singapore’s property sector “underweight”, noting that the private property market can anticipate a correction of five to 10 percent.The major supporting factor lies in the low interest rates, which permits affordable mortgage...
Continue Reading • 7 Oct 2011
Higher prices for landed homes in Q3
Landed home prices in Singapore grew at a faster pace than those of non-landed homes in the third quarter of this year, according to DTZ Research.Average resale prices of leasehold landed homes in non-prime districts grew 3.8 percent quarter-on-quarter in Q3, while average resale prices of...
Continue Reading • 7 Oct 2011
Allgreen set to launch Phase 2G of Pavilion Park
Allgreen Properties Ltd plans to release Phase 2G of its Pavilion Park project off Bukit Batok Road.“To date 432 units have been released for sale, of which 430 units have been sold. The strong response at the various launch stages underpins buyers’ strong demand for landed housing. I...
Continue Reading • 7 Oct 2011
S'pore ranks 9th on list for most global property deals
Singapore has secured ninth position on a list of 25 cities which have gained the most real estate investment, comprising industrial, office, hotel, retail and serviced apartment properties but excluding development sites.According to Cushman & Wakefield’s latest report, the country has...
Continue Reading • 6 Oct 2011
Pacific Mansion up for en bloc sale
Pacific Mansion, a 128,353.16 sq ft residential site at River Valley Close, has been put up for en bloc sale with an indicative price of S$990 million (around S$2,008 psf ppr).The freehold site comprises 288 residential units and two commercial units. It has a gross floor area (GFA) of 45,821.88...
Continue Reading • 6 Oct 2011
Bukit Merah hotel site goes on sale
The Urban Redevelopment Authority (URA) put up a hotel site at Jalan Bukit Merah / Alexandra Road for sale by public tender yesterday.The site was made available for sale through the reserve list system on 16 August 2007.According to the URA, the land parcel was put up for tender after an unnamed...
Continue Reading • 6 Oct 2011
Loyang residential site gets S$141m top bid
The tender for a 99-year leasehold residential site at Jalan Loyang Besar / Pasir Ris Rise has received a total of 13 bids.Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and Oriental Worldwide Investments Inc jointly submitted the highest offer at S$140.96 million.A consortium comprising UOL...
Continue Reading • 5 Oct 2011
Colliers survey reveals property investor caution in Asia
Property investors in Asia are more reluctant than their counterparts in other regions, according to Colliers International’s Global Investor Sentiment Survey 2011.The international property consultancy group said a significant 77 percent of the respondents in Asia expressed intentions to...
Continue Reading • 5 Oct 2011
SDB sells 9 units at Hijauan project
Nine units at Hijauan on Cavenagh have been sold over the past two weeks, at an average price of between S$2,200 psf and S$2,500 psf, said its developer Selangor Dredging Berhad (SDB).According to a Business Times report, eight units were sold to Malaysian buyers while the other unit was bought...
Continue Reading • 5 Oct 2011
S'pore prime rents fall for first time in nearly 4 years
Housing rents in prime areas have dropped for the first time in nearly four years, as uncertainty in the global economy meant fewer executives are being hired, according to Jones Lang LaSalle (JLL). The global property consultancy firm said average rents in Districts 9, 10 and 11 fell 1.4 percent...
Continue Reading • 5 Oct 2011
Paramount Hotel renamed in S$30m makeover
Far East Hospitality, the hospitality arm of Far East Organization (FEO), has announced that Paramount Hotel will be renamed East Village Hotel, following upgrading and refurbishment works that will cost approximately S$30 million.Located at Marine Parade and East Coast Road, the 102,685 sq ft...
Continue Reading • 5 Oct 2011
Property investment sales drop sharply in Q3
Property investment sales hit S$4 billion in the third quarter, down 55 percent quarter-on-quarter, the lowest level since Q1 2010, according to a report published by DTZ Research.DTZ attributed this mainly to the decline in the stock market and global uncertainties.The bulk of investment sales...
Continue Reading • 5 Oct 2011
Singapore can soon boast of world's first Hermes apartment
Singapore will soon be home to the world’s first Hermes apartment, following a collaboration between property developer SC Global Developments and the French luxury house.SC Global said that a spacious 6,232 sq ft five-bedroom apartment unit in the Signature Tower of The Marq on Paterson...
Continue Reading • 4 Oct 2011
Residential investment sales up 23% this year
Real estate investment sales in Singapore’s residential property market hit $10.6 billion year-to-date, up 23 percent over the same period last year, according to a report released by CB Richard Ellis (CBRE).However, residential investment sales represented $2.0 billion in the third...
Continue Reading • 4 Oct 2011
Singapore owners open their homes for short-term rentals
Several homeowners in Singapore are now opening their homes for short-term rentals.While the idea is popular in the US and Europe, the trend of short-term home rentals has just caught on in Asia with some major short-term room rental websites set up in Singapore.“Though I don’t see...
Continue Reading • 3 Oct 2011
Wealthy Indonesians buying S'pore homes for their children
Singapore’s stable economic and political environment, coupled with relaxed regulation of the property market, has continued to attract wealthy Indonesian home buyers, according to the Jakarta Post.Thomas Tan, Marketing Director of Raffles Quay Asset Management (RQAM), said that wealthy...
Continue Reading • 3 Oct 2011
2 new property launches this month
Two new property developments, Rezi 26 and Regent Residences, are set to be soft launched this month.Jointly developed by Heeton, KSH and Tee Realty, Rezi 26 is a freehold apartment project comprising 106 one-, two- and three-bedroom units, as well as penthouses housed in two-, seven- and...
Continue Reading • 3 Oct 2011