Punggol Central site receives seven bids
The tender for a land parcel located at Punggol Central / Punggol Walk closed yesterday, drawing a total of seven bids.The 29,999.3 sq m site, which was launched for sale on 30 November 2010, is proposed for a mixed commercial and residential development with a potential yield of 685 units. The...
Continue Reading • 16 Feb 2011
Singapore: World's fifth most expensive location for property rental
Singapore now ranks as the fifth most expensive location in the world for property rental, based on rents for two-bedroom units that are commonly preferred by expats.It also ranks as the third most expensive in Asia, behind Tokyo and Hong Kong.The new ranking comes as a result of a 15 percent...
Continue Reading • 16 Feb 2011
Private residential market remains affordable
Singapore’s private residential market stayed affordable in January, as 46.2 percent of all private units sold in January 2010 were below S$1,000 psf, said PropNex.Despite the January 13 cooling measures, there were 1,534 private residential transactions last month, down 9.7 percent from...
Continue Reading • 16 Feb 2011
Residential property transactions down 11%
The Urban Redevelopment Authority (URA) monthly sales volume for private residential units excluding executive condominiums (ECs) dropped 11 percent month-on-month to 1,189 units in January.New projects launched last month generally saw weaker take-up of below 50 percent, except Spottiswoode 18...
Continue Reading • 16 Feb 2011
Asia's property transaction volume down 21%
Asia’s real estate transaction volume fell 21 percent in the fourth quarter to US$17.8 billion from the earlier quarter, said Asia Pacific Real Estate Association (APREA).However, the general upward momentum that started in early 2009 is continuing. “The majority of the transactions...
Continue Reading • 15 Feb 2011
REDAS: Cooling measures stabilising the market
The latest property measures implemented by the government have begun to effectively stabilise the market, according to the Real Estate Developers Association of Singapore (REDAS).“There’s a drop in volume but I think that’s expected, because of hesitation and...
Continue Reading • 15 Feb 2011
HDB dwellers snap up more shoebox units
Buyers with Housing Development Board (HDB) addresses lodged 1,016 caveats for private apartments below 500 sq ft in 2010, approximately 17 times the 59 units acquired by HDB dwellers in 2006, according to an analysis of Urban Redevelopment Authority (URA) Realis caveats data.These small units...
Continue Reading • 15 Feb 2011
Indians snapping up Singapore prime properties
About 20 percent of properties sold in Singapore from 2000 to 2010 were acquired by foreign buyers, with Indians accounting for 12 percent, based on data from the Urban Redevelopment Authority (URA).Today, even as the anti-speculative measures announced by the government have had some effect,...
Continue Reading • 14 Feb 2011
Real estate market to withstand cooling measures
A residential project located in Sembawang received strong response during its launch over the weekend, furthering expectations that the real estate market will withstand the recent set of cooling measures announced by the government.More projects will be launched over the next two months to...
Continue Reading • 14 Feb 2011
Canberra Residences sees positive response at preview
The preview of the Canberra Residences development received positive response, with 160 of the 200 (around 80 percent) of the units released snapped up.“Canberra Residences is a choice investment for the genuine first-time home buyer and upgrader. The developer has taken great care to meet...
Continue Reading • 11 Feb 2011
Bartley Road residential site up for sale
Located between Bartley Road and Lorong How Sun, the Bartley Road land parcel was made available for sale on 30 November 2009 through the reserve list system. On 18 January 2011, the Urban Redevelopment Authority (URA) said it received an application from a developer who committed to bid at least...
Continue Reading • 11 Feb 2011
Home sales affected by latest cooling measures
The latest measures announced by the government to cool the real estate market have prompted property developers to sell fewer homes. However, they were modest when asked if they were delaying launches and cutting prices.Market sources told The Business Times that developers lowered their target...
Continue Reading • 11 Feb 2011
Property exhibitions source of London property buyers
Real estate exhibitions in Singapore, Hong Kong and Kuala Lumpur have been an increasingly important source of London real estate buyers.According to research from the London office of CB Richard Ellis (CBRE), over £800 million worth of properties, or 2,500 units, were sold at exhibitions...
Continue Reading • 10 Feb 2011
Property derivatives hit low point
Global property derivatives dropped to their lowest quarterly level in five years in the fourth quarter of 2010, as confidence was affected by a tighter regulatory regime and economic uncertainty across Europe, a survey revealed.A total of £192 million (S$390 million) in trades was observed...
Continue Reading • 9 Feb 2011
Amber Glades relaunched for collective sale
Amber Glades, a freehold residential block in District 15, has been releaunched for en bloc sale with an indicative price of S$120 million, or S$1,078 psf ppr.This is the fourth time Amber Glade has been put up for sale. It was first launched for sale in 2007, with a price tag of S$145 million or...
Continue Reading • 9 Feb 2011
40 Waterfront Isle units sold during Chinese New Year
Far East Organization (FEO) sold about 40 units at its Waterfront Isle condominium development in a single day, during the Lunar New Year period.The real estate market traditionally sees slow activity during the Lunar New Year, as most property developers postpone their plans for new launches...
Continue Reading • 8 Feb 2011
Soho units increasing in popularity
With the increasing trend of working from home, property developers are prompted to launch more small office, home unit (Soho) projects.The popularity of this concept is also evident in the leasing market, where Soho units can fetch higher rents than flats.The Urban Redevelopment Authority (URA)...
Continue Reading • 8 Feb 2011
Queens' unit prices continue to rise
Prices of units at the 99-year leasehold Queens have appreciated over the years, since their launch in 2000. Recently, some homeowners took the opportunity to cash out as prices surged above S$1,100 psf, seeing gains of over 50 percent.Prices reached a high of S$1,284 psf when a 914 sq ft unit on...
Continue Reading • 7 Feb 2011
Some showflats remained open during the holidays
A number of property developers opened their residential showflats to potential buyers over the long Chinese New Year weekend.Developers in Singapore traditionally close their showflats over the holiday period as sales are likely to be very low. However, this trend is now changing, as more...
Continue Reading • 7 Feb 2011
District 19 estates becoming a hit
Evergreen estates in Marine Parade, Siglap and Katong in District 15 remained on the top lists for home buyers in 2010, though some new areas gained popularity as well.About 4,053 non-landed property transactions were recorded in District 15, nearly 12 percent of the total 34,767 caveats...
Continue Reading • 7 Feb 2011