Flood-prone areas will not affect property values
The national water agency said there are now 66 flood-prone areas in Singapore, mostly low-lying areas like Jalan Besar and Bukit Timah.Although residents in these areas are spending extra money to make their homes more flood-resistant, they are not worried that the value of their properties will...
Continue Reading • 14 Jun 2011
Sim Lian expects construction costs to rise in 2011
Sim Lian Group Limited has expressed its concern that construction costs may rise, with the latest move to accelerate the rate of public housing supply.Aiming to remove the demand backlog and help young couples get their flats faster, the recent temporary policy calls for the building of public...
Continue Reading • 13 Jun 2011
Developers to be choosy with state tenders
Property developers will likely adopt a bottom-up stock picking strategy in bidding for state land in the second half of 2010, according to DBS Vickers, one of the leading retail brokerages in Asia.“We expect developers to be selective in their land bidding activities and bid prices going...
Continue Reading • 13 Jun 2011
Home price gap may hinder aspiring HDB upgraders
The price gap between HDB flats and mass market private homes has widened to a new record — making it more difficult for hopeful HDB upgraders to acquire a private home, according to Goldman Sachs’ latest report.It added that the price difference between a five-room HDB flat and a...
Continue Reading • 13 Jun 2011
Woodlands residential site sold for S$151.5m
A residential land parcel at Woodlands Avenue 2 / Rosewood Drive has been sold to Fragrance Group Limited and Aspial Corporation Ltd.The companies jointly offered the highest bid of S$151.5 million (S$3,952.21 psm) during the public tender that closed on 7 June 2011.Zoned for residential...
Continue Reading • 13 Jun 2011
Property stocks down on new bumper supply
Depressed since Polling Day, property stocks slipped further on Friday, after the government released an abundant supply of sites for the second half of the year.Several market analysts believe that while more demand-side measures to cool the real estate market are possible, much of the policy...
Continue Reading • 13 Jun 2011
Govt releases 43 land sites for sale
The Ministry of National Development (MND) has announced that there will be 43 land sites released in the second half of 2011 under the Government Land Sales (GLS) programme.This would yield approximately 14,200 private residential units (including 2,300 Executive Condominium units).Of the 43...
Continue Reading • 10 Jun 2011
IP Global to launch 75 Wall in S'pore
IP Global has announced that it will launch 75 Wall, its first freehold property in New York, on 18 and 19 June in Singapore.75 Wall defines world-class luxury living with a full-service lifestyle and an abundance of amenities. It comprises 149 luxury units across 24 floors, including studios,...
Continue Reading • 9 Jun 2011
Condos at GLS sites higher priced than nearby projects
Despite the high supply of state land, launch prices of new 99-year condos are continuing an upward trend, primarily attributed to the robust demand.According to a recent DTZ study, the median prices of new 99-year leasehold condos released in 2010 and 2011 on sites sold at Government Land Sale...
Continue Reading • 9 Jun 2011
Far East buys conservation bungalow site for S$103.8m
The 113-year-old conservation bungalow on Marine Parade Road has been acquired by property giant Far East Organization (FEO) for a whopping S$103.8 million.This works out to around S$1,195 psf of potential gross floor area (GFA), inclusive of a development charge (DC) of S$18.8 million, said...
Continue Reading • 9 Jun 2011
Olina Lodge condo goes en bloc
Olina Lodge, a 20-year-old freehold private condominium at Holland Hill, has been put up for en bloc sale with an indicative price of S$225 million, approximately S$1,666 psf ppr.Property consultancy firm DTZ, which is marketing the property, said no development charge (DC) is payable if the...
Continue Reading • 8 Jun 2011
Woodlands residential site attracts 3 bids
The tender for a 99-year leasehold site at Woodlands Avenue 2 / Rosewood Drive has attracted a total of three bids, with Fragrance Group Limited and Aspial Corporation Ltd offering the highest bid of S$151.5 million, or S$367 psf ppr.“The top bid of S$151.5 million or S$367 psf ppr is...
Continue Reading • 8 Jun 2011
Eleven@Holland to be launched
Boutique developer Clydesbuilt Group is preparing to launch Eleven@Holland, a cluster landed housing development located off Old Holland Road in District 10.The project comprises 82 strata-titled semi-detached units, with prices starting from S$1,050 psf. Units at the project comprise mostly...
Continue Reading • 7 Jun 2011
Luxury home prices ease in Q1
Prices of luxury residential properties in Singapore have moderated to 0.9 percent quarter-on-quarter in the first quarter, due to the property cooling measures, according to the CB Richard Ellis (CBRE) Asian Luxury Residential Capital Value Index.The cooling measures, which took effect in Q1,...
Continue Reading • 7 Jun 2011
Average holding period of Q1 property subsales rises
The average holding period of subsales in Q1 2011 rose to its longest in at least three years, while the average increase from profitable subsale transactions in the quarter also hit its highest level since Q3 2008, according to a recent study of subsale activities by Savills Singapore.Often used...
Continue Reading • 6 Jun 2011
Pasir Ris site sold to highest bidder
The Housing and Development Board (HDB) has awarded the tender for a land parcel located at Pasir Ris Central / Pasir Ris Drive 1 to Singxpress Land (Pasir Ris) Pte Ltd and Kay Lim Holdings Pte Ltd.Singxpress Land (Pasir Ris) Pte Ltd and Kay Lim Holdings Pte Ltd submitted the highest bid of...
Continue Reading • 6 Jun 2011
Laguna Park has more advantage over Pine Grove
Laguna Park has an advantage over Pine Grove, as one of the most expensive properties currently up for en bloc sale in Singapore, analysts said.The asking price for Laguna Park is around S$1.33 billion, while Pine Grove is up for tender for approximately S$1.7 billion. Analysts believe that...
Continue Reading • 3 Jun 2011
Public housing measures to have little short-term impact
Some private property investors are feeling anxious, a week after National Development Minister Khaw Boon Wan announced his plan to popularise public housing again, said Mr. Colin Tan, Head of Research & Consultancy at Chesterton Suntec International.“Can their nerves hold out for a...
Continue Reading • 3 Jun 2011
Kellock Lodge goes en bloc
Kellock Lodge, a 48-unit condominium development in River Valley Road, has been put up for en bloc sale with an indicative price of more than S$84 million (approximately S$1,383 psf ppr).CKS Property Consultants, the sole marketing agent for the property, said each household will likely receive...
Continue Reading • 3 Jun 2011
Sengkang site receives top bid of S$247m
The tender for a 99-year leasehold site at Buangkok Drive / Sengkang East Drive closed yesterday, with Qingdao Construction (Singapore) Pte Ltd offering the highest bid of S$247 million.“The top bid of S$247.0 million or S$391 psf/plot ratio is within market expectations,” said Mr. Li...
Continue Reading • 3 Jun 2011