Property auction sales down 20.4% in H1
Singapore’s auction sales in the first half of 2011 dropped 20.4 percent to S$69.25 million, compared to S$87 million over the same period last year, according to property consultancy firm Jones Lang LaSalle (JLL).JLL said it auctioned properties with a total value of around S$25.16...
Continue Reading • 4 Jul 2011
Residential site at Choa Chu Kang attracts 5 bids
The Urban Redevelopment Authority (URA) closed the tender for a residential site at Choa Chu Kang Road / Phoenix Road, after receiving a total of five bids. The top bid was jointly submitted by Far East Civil Engineering (Pte) Limited and China Construction (South Pacific) Development Co Pte Ltd...
Continue Reading • 1 Jul 2011
Singapore's property auction sales hit S$41.38m in Q2
After a lacklustre beginning in Q1 2011, the Singapore real estate auction market experienced a stronger second quarter, according to Colliers International.The total value of properties sold increased by 49 percent quarter-on-quarter to S$41.38 million in second quarter this year.The increase in...
Continue Reading • 1 Jul 2011
Auction property sales hit S$63.1m
Auction sales in Singapore have hit approximately S$63.1 million so far this year, down 27 percent compared to the S$87 million recorded in June 2010, according to a Jones Lang LaSalle (JLL) Auction House report.The number of mortgagee sales was less than half the total sales registered over the...
Continue Reading • 30 Jun 2011
Resale property prices rise in Q2
Resale prices of private homes continued to rise at a faster pace in the second quarter, according to an analysis by DTZ Research.DTZ’s analysis showed that the average resale price of leasehold condos in suburban areas climbed 3.9 percent quarter-on-quarter in the second quarter, while...
Continue Reading • 29 Jun 2011
URA awards tender for 2 sites
The Urban Redevelopment Authority (URA) has awarded the tender for two land parcels, an industrial site at Irving Place and a residential plot at West Coast Link.The industrial site at Irving Place has been awarded to Oxley Vista Pte Ltd, after it submitted the top bid of S$43.4 million in a...
Continue Reading • 29 Jun 2011
HDB launches tender for Punggol Field Walk residential site
A 99-year leasehold residential land site at Punggol Field Walk has been launched for sale through a public tender.The site has a total area of 14,344 sq m and a maximum allowable gross floor area (GFA) of 48,769.6 sq m. Zoned for condominium housing, the land parcel is expected to yield around...
Continue Reading • 29 Jun 2011
Two residential sites up for collective sale
Two sites, one in the East Coast and the other in District 10, have been put up for en bloc sale through a tender.Royalville, a large prime freehold land parcel situated along Bukit Timah Road, is being sold by Credo Real Estate, while the East Coast site, St Patrick’s Garden, is being...
Continue Reading • 28 Jun 2011
River Valley Rd apartment sold for S$70.5m
A 40-unit freehold walk-up apartment at River Valley Road has been sold for S$70.5 million, resulting in a total of 32 transactions worth S$1.73 billion on the collective sales market so far this year.Credo Real Estate, which brokered the deal, said the apartment block at 402 to 414 River Valley...
Continue Reading • 28 Jun 2011
No housing oversupply in 2013, 2014: Citi
The expected rise in the supply of new HDB flats and private homes over the next few years will not lead to a housing oversupply in 2013 and 2014, according to an analyst from Citigroup.Citigroup also believes that the current “severe shortage” of HDB flats is likely to offer support...
Continue Reading • 28 Jun 2011
Slower sales for GCBs
Real estate agents have been reporting a drop in Good Class Bungalow (GCB) sales, as the gap between asking and offer prices widens.However, about S$750 million worth of sales have already been closed so far this year, for the residential market’s ultra-elite segment in Singapore.In 2010, a...
Continue Reading • 27 Jun 2011
DBSS flats expected to have good resale prices
Residents who paid high prices for their Design, Build and Sell Scheme (DBSS) flats are optimistic that the superior location of their estates will give them good resale flat prices in future, according to a report by The Straits Times.Some industry observers agree that it is a flat’s...
Continue Reading • 27 Jun 2011
Centrale 8 at Tampines two times oversubscribed
The controversial Design, Build and Sell Scheme (DBSS) flats at Centrale 8 in Tampines were two times over-subscribed by the deadline on 21 June, according to a Straits Times report.Despite widespread criticism over the S$880,000 price tag, the project managed to attract 1,431 applicants.Some...
Continue Reading • 24 Jun 2011
S$175.8m top bid for West Coast site
The tender for a land parcel at West Coast Link / West Coast Crescent has received a total of 12 bids, with Boo Han Holdings offering the highest bid of S$175.8 million (approximately S$461 psf ppr).Boo Han’s bid would, based on current sales prices, give the company a profit margin of...
Continue Reading • 24 Jun 2011
Home sales volume to hit 4000 in Q2
Singapore’s real estate market will likely see a robust second quarter, with the number of new home sales expected to hit 4,000 units, up 11.3 percent from the 3,595 new units sold last quarter.According to property services company CB Richard Ellis (CBRE), preliminary numbers submitted for...
Continue Reading • 24 Jun 2011
Home prices may slide when interest rates rise
Prices of residential properties in Singapore may decline by up to six percent when interest rates start rising, said a senior executive from Cheung Kong (Holdings) in a report by Reuters.However, the red-hot housing market in Singapore, as well as in China and Hong Kong, are unlikely to see a...
Continue Reading • 23 Jun 2011
Balmoral Condo sold for S$141m
Balmoral Condominium, a 45-unit freehold development in District 10, has been sold to Feature (Balmoral) Ltd for S$141 million (S$1,546 psf ppr), with no development charge (DC) payable.Feature (Balmoral) Ltd is a consortium comprising Clarus Corporation Ltd, Tong Eng Group and Yuan Ching...
Continue Reading • 23 Jun 2011
Tulip Garden up for en bloc again
Tulip Garden at Farrer Road has been re-launched on the collective sale market, after it failed to draw buyers during its last attempt at an en bloc sale in January.Credo Real Estate, the sole marketing agent for the property, is seeking a new mandate from owners to reduce the asking price to...
Continue Reading • 23 Jun 2011
Cheung Kong to launch luxury condo in Singapore
Cheung Kong (Holdings) Ltd, one of the largest real estate developers in Hong Kong, revealed its latest project, Thomson Grand, at the Singapore Island Country Club yesterday.Located in the Upper Thomson area, the project will be launched in July, once the sales office is completed.With a total...
Continue Reading • 23 Jun 2011
Weaker sales due to no big launches
Sales of new homes over the past week were dampened by cautious buyers and the lack of big new launches.Far East Organization (FEO) sold 63 units in all of its properties (excluding Eight Courtyards) over the past week, with 46 units snapped up at Woodhaven alone.The average price of the 337-unit...
Continue Reading • 22 Jun 2011