Laguna Park gets $1.33b price tag
Laguna Park condo, a former HUDC estate, has received a S$1.33 billion price tag and is set to become the second-largest collective sale in the country after Farrer Court, which was sold for a whopping S$1.34 billion in 2007, if the deal is successful.The S$1.33 billion indicative price, which...
Continue Reading • 24 May 2011
Roxy-Pacific obtains 100% consent for enbloc at Mackenzie Rd
Specialty property and hospitality group Roxy-Pacific Holdings Ltd has announced that its wholly-owned subsidiary, RL Central Ltd, has obtained 100 percent consent for the collective sale of a freehold site located at 131 Mackenzie Road for approximately S$24.6 million.“The company is...
Continue Reading • 20 May 2011
Two redevelopment sites up for sale
Two redevelopment sites, 70 Shenton Way and Elizabeth Tower, have been launched for sale.70 Shenton Way, which was acquired by a Roxy-Pacific-led consortium for S$148 million in April 2010, has been put on the market with an indicative price of S$270 million.This works out to around S$1,583 psf,...
Continue Reading • 19 May 2011
More housing projects in the pipeline
Developers continued to launch new projects in May, after witnessing a 29 percent month-on-month increase in private home sales last month.Two new housing projects are set to be released this week — Belysa, an executive condo (EC) project in Pasir Ris, and Terrasse, a private condo...
Continue Reading • 19 May 2011
Unit at The Marq sets new price record
A new price record has been set for private property in Singapore.According to an anonymous source, a four-bedroom apartment at SC Global Developments’ The Marq on Paterson Hill has been sold for S$5,842 psf, surpassing the previous record of S$5,600 psf at The Orchard Residences in October...
Continue Reading • 18 May 2011
Private home sales jump 29% in April
Sales of private homes jumped 23 percent month-on-month to 1,901 units in April, as developers are rolling out more property projects to ride the tide of buying momentum.Excluding Executive Condominium (EC) units, private home sales rose 29 percent to a whopping 1,788 units sold last...
Continue Reading • 18 May 2011
Developers urged to rightsize shoebox units
The Urban Redevelopment Authority (URA) is encouraging developers of shoebox units to increase the size of their units, up from 28 sq m to 35 sq m, according to a report in The Business Times.Many analysts said that promoting bigger shoebox units may likely help to cool the property market since...
Continue Reading • 16 May 2011
Resale options for ageing condos
For private property owners, the 60-year mark is considered a major milestone — they could either watch their properties depreciate in value or opt for a collective sale.Although banks are generally reluctant to lend to owners of older properties, things are not as bad as they seem since...
Continue Reading • 16 May 2011
Aspial Corp buys property at Bassein Rd, plans to build apartment
Aspial Corporation, through its wholly-owned subsidiary World Class Land, is buying Chong Kim Apartment at 8 Bassein Road for S$41.1 million.The 1,426.9 sq m freehold apartment is located in prime district 11, with several shopping amenities in the area including United Square, Square 2 and...
Continue Reading • 16 May 2011
Pasir Ris condo site sold for S$246.1m
A land parcel at Jalan Loyang Besar / Pasir Ris Drive 4 has been awarded to MCL Land Ltd, after it offered the highest bid of S$246.1 million in a public tender that closed on 10 May 2011.The site, which was launched for sale on 29 March 2011, has an area of 27,054.8 sq m and a maximum gross...
Continue Reading • 13 May 2011
Vicland Realty buys Haig Mansions for S$21.5m
The 16-unit Haig Mansions has been sold to Vicland Realty for S$21.5 million through an en bloc sale exercise.This translates to a land rate of about S$720 psf ppr at a gross plot ratio (GPR) of 1.54, including the 10 percent gross floor area (GFA) for balconies.With a land area of 20,226 sq ft,...
Continue Reading • 13 May 2011
Wing Tai to launch Foresque Residences
Wing Tai Holdings will soon launch the Foresque Residences, with a preview set for 14 May 2011.“We are excited with the upcoming debut of Foresque Residences, which is excellently located on a special belt of wonderful greenery that is situated at Petir Road, between Chestnut Drive and...
Continue Reading • 13 May 2011
CDL set to launch more new projects
City Developments Ltd (CDL) is planning to roll out several new projects this year, including Jean Nouvel Residences at 18 Anderson Road, which comprises 156 apartments and penthouses in two 36-storey buildings.By the end of the H1 2011, the company also plans to launch a 64-unit low-rise condo...
Continue Reading • 12 May 2011
Pasir Ris condo site gets only three bids
The public tender for a 99-year leasehold condo site at Jalan Loyang Besar / Pasir Ris Drive 4 has attracted only three bids, with MCL Land Ltd offered the highest bid of S$246.1 million, approximately $402 psf ppr.Li Hiaw Ho, Executive Director at CB Richard Ellis (CBRE), said that the...
Continue Reading • 11 May 2011
Freehold site at Marine Parade for sale
A freehold site on Marine Parade Road near Parkway Parade, which holds a 113-year-old conservation bungalow, has been put up for sale by tender with a price expectation of approximately S$100 million to S$110 million.This translates to around S$1,164 psf to S$1,262 psf of potential gross floor...
Continue Reading • 10 May 2011
Slew of new projects launching this week
Four property projects, Belysa Executive Condo, Interweave, Foresque Residences and Foresta, are set to launch this week.Hoi Hup’s Foresta, a five-storey 141-unit residential development at Mount Faber, will be launched on 11 May.The project, which is located in the “highly sought...
Continue Reading • 10 May 2011
Asia's luxury home prices to remain stable in 2011
Luxury residential prices in Asia will likely remain stable or see slower growth this year.According to the latest Residential Index from Jones Lang LaSalle (JLL), average capital values climbed 1.8 percent quarter-on-quarter in Q1 this year, across monitored luxury residential markets in Asia,...
Continue Reading • 9 May 2011
URA launches 2 residential sites for sale
The Urban Redevelopment Authority (URA) has released two residential sites at West Coast Link / West Coast Crescent and Choa Chu Kang Road / Phoenix Road for sale through public tender.Located in the western part of Singapore, both land parcels were launched for sale under the confirmed list of...
Continue Reading • 6 May 2011
5 new condo projects launching this month
Two condominium projects, The Peak at Cairnhill and Auralis at East Coast, are among the first condominium developments to be launched this month.The Peak, which was launched on 2 May, is a 15-storey residential development which comprises 52 units. It is located near Orchard Road and considered...
Continue Reading • 5 May 2011
S'pore hotel room rates to rise
Singapore’s hospitality market is expected to grow at a strong rate this year, according to commercial property advisory firm CB Richard Ellis (CBRE).CBRE Hotels anticipates an increase of between 10.0 and 15.0 percent in average room rates, from last year’s levels. It also expects to...
Continue Reading • 4 May 2011