Property developers accelerate new launches
Property developers in Singapore are racing to launch as many as 15 new projects over the next few weeks.The launches scheduled for release range from smaller developments, such as the 36-unit Everitt Edge in Everitt Road, to larger developments like the 360-unit Sky Suites @ Anson in Tanjong...
Continue Reading • 21 Mar 2011
Developers gradually raising property prices
New launches in Singapore have hit a decent take-up rate and developers are taking the opportunity to raise prices, albeit at a slower pace.DBS said that recent news about the property measures suggest that home buyers remain optimistic.CDL sold 150 of the 200 units released at the 521-unit H20...
Continue Reading • 18 Mar 2011
Strong Sing dollar boosts foreign property investment
Wealthy Singaporeans are always on the lookout for ways to expand their real estate investment portfolios in the West, taking advantage of the strong Singapore dollar, according to the TODAY newspaper.The Singapore dollar has significantly increased since Lehman Brothers’ bankruptcy in...
Continue Reading • 18 Mar 2011
Newton Lodge up for collective sale
Newton Lodge, a 16-unit freehold apartment block at 41 Newton Road, has been launched for collective sale with an indicative price of S$40 million.CB Richard Ellis (CBRE), which is marketing the property, said a development charge of approximately S$2.18 million has been estimated, based on March...
Continue Reading • 17 Mar 2011
Newton View changes hands for S$147.6m
Newton View, a 37,577 sq ft freehold site, has been sold to Novelty Group for S$147.6 million through an en bloc sale.This works out to around S$1,403 psf of potential gross floor area (GFA). Savills Singapore, which brokered the deal, said no development charge (DC) is payable based on the 2.8...
Continue Reading • 17 Mar 2011
Smaller residential units still popular
Smaller-sized units have remained popular, despite the proportion of buyers declining to 33 percent in January this year.Based on the new-sale caveats lodged since January 2010, DBS found that the proportion of buyers who purchased smaller flats of less than 800 sq ft in size rose to 34 percent...
Continue Reading • 17 Mar 2011
Singapore's private home sales decline
Sales volume for private residential units, excluding executive condominiums (ECs), dropped nine percent month-on-month to 1,101 units in February, according to data released by the Urban Redevelopment Authority (URA).This comes on the back of the increase in developers’ launches for new...
Continue Reading • 16 Mar 2011
Pearl Bank to bid for third en bloc sale
The 280-unit Pearl Bank Apartments near Chinatown is planning to pull off its third collective sale, with an indicative price of S$750 million.If the S$750 million sale is completed this time, owners of the two-bedroom units will gain approximately S$1.81 million each, while penthouse owners...
Continue Reading • 16 Mar 2011
URA grants penthouse duplex subdivision
The owner of a penthouse duplex at Horizon Towers has been granted permission by the Urban Redevelopment Authority (URA) to subdivide the unit into two separate apartments.If sold as a single dwelling, the duplex can fetch its owner, known only as Mr. Ng, over S$3000,000.“The main reason...
Continue Reading • 16 Mar 2011
Pasir Ris DBSS site up for tender
A land parcel at the junction of Pasir Ris Central and Pasir Ris Drive 1 has been launched for sale under the Design, Build and Sell Scheme (DBSS).Located within Pasir Ris Town, the site has a total area of 16,388.2 sq m with a maximum gross floor area (GFA) of 45,886.96 sq m and a gross plot...
Continue Reading • 16 Mar 2011
Sengkang Square site attracts top bid of S$286.8m
A land parcel at the junction of Sengkang Square and Compassvale Road attracted the highest bid of S$286.8 million in a public tender that closed on 15 March.“The top bid of S$286.79 million or S$502 psf ppr translates to a breakeven cost of around S$850 psf,” said Li Hiaw Ho,...
Continue Reading • 16 Mar 2011
The Holland Collection sold out
A joint venture (JV) between CLSA Capital Partners and Lippo Group has sold the remaining 14 condo units in the 26-unit freehold property The Holland Collection at slightly more than S$50 million, or about S$1,600 psf, on average.The buyer of the remaining units, which comprise two-, three- and...
Continue Reading • 15 Mar 2011
Heeton-led consortium to acquire Camay Court
A consortium including Heeton Holdings, KSH Holdings and TEE International has entered into a private agreement to buy Camay Court at Lorong M, Telok Kurau Road for S$30.5 million.“Camay Court sits on the quaint and serene part of Telok Kurau, mere minutes away from the Siglap park...
Continue Reading • 14 Mar 2011
Pine Grove's high DC may discourage buyers
The S$460 million development charge (DC) for Pine Grove, which was launched for collective sale last week, may deter potential buyers.The DC for the Pine Grove site is approximately 9.5 percent higher, in line with the rate increases announced recently, said many property analysts. They noted...
Continue Reading • 14 Mar 2011
Pan Peninsula's premium units to launch in Singapore
The Premier Collection, the second phase of London’s Pan Peninsula, is set to launch in Singapore on 17 March at the Grand Hyatt hotel.This gives Singaporeans the chance to preview the exclusive premier-specification apartments and penthouses, said Knight Frank.Pan Peninsula was the global...
Continue Reading • 11 Mar 2011
EL Development acquires Clementi Ave 4 site
The Housing Development Board (HDB) has awarded a land parcel at Clementi Avenue 4 to EL Development Ltd after it offered the highest bid of S$224 million in a public tender that closed on 8 March.The land site was made available for sale on 26 January under the Design, Build and Sell Scheme...
Continue Reading • 11 Mar 2011
Heeton and partners acquire MacPherson Green
Niche real estate developer Heeton Holdings has collaborated with KSH Holdings, TEE International and Zap Piling to acquire the MacPherson Green site for S$105 million through a collective sale tender.Heeton will hold 40 percent of the project, while Zap Piling, TEE International and KSH will own...
Continue Reading • 11 Mar 2011
Amber Glades sold for S$118.1m
Amber Glades, which comprises two apartment blocks with 63 units in District 15, has been sold to Far East Organization (FEO) for S$118.12 million.This works out to around S$1,066 psf ppr, inclusive of the S$4 million development charges (DC).Colliers International, which brokered the deal, said...
Continue Reading • 10 Mar 2011
Singapore expects more foreign investor participation this year
Singapore has the largest group of foreign investors in the Asia Pacific, according to DTZ.The global real estate adviser said local investors in Singapore accounted for 70 percent of all investment purchases in 2010, while Asia Pacific regional investors made up more than half the total foreign...
Continue Reading • 10 Mar 2011
Collective sales activity springs back to life
Collective sales activity resumed at the beginning of the year, with six deals closed to date, said top officials from Credo Real Estate.While smaller sites will stay popular because of their low absolute values, the mid-prime segment of the residential market appears more promising this year,...
Continue Reading • 10 Mar 2011