Landed homes' cap values climb faster than condos, apartments
Average capital values of Singapore landed homes have increased at a faster rate than those of private apartments or condominiums in the fourth quarter and the whole of 2010, according to latest figures from DTZ.DTZ’s analysis pertained only to resale non-landed and landed homes, or those...
Continue Reading • 22 Dec 2010
The Ritz-Carlton Residences Singapore celebrates topping out
The Ritz-Carlton Residences Singapore, the first Ritz-Carlton Residences in Asia, had its symbolic topping out ceremony on Monday to celebrate the structural completion of the 36-storey bespoke residence.“Today’s celebration marks a significant milestone for Hayden Properties and...
Continue Reading • 22 Dec 2010
Singapore's collective sales market booming
The total amount of collective sales transactions in Singapore in the first 11 months of the year reached S$862.3 million, up from S$176.3 million in 2009, according to data released by the URA.So far, the most expensive transaction in the en bloc market this year was the Meng Gardens Apartments,...
Continue Reading • 21 Dec 2010
KOP optimistic on Singapore luxury residential market
KOP Properties is optimistic on the prospects of the luxury residential market in Singapore, said Leny Suparman, chief executive of the company.“We are quite positive about the outlook for next year,” she said.While Singapore’s private home prices have risen since the end of the...
Continue Reading • 21 Dec 2010
More foreigners buying private homes in Singapore
More foreigners became active in the Singapore property market in November, buying almost one in three new private homes in the country.Nearly 30 percent of the total number of new private homes were snapped up by foreigners and permanent residents (PRs) in November, up 8 percent from the 22...
Continue Reading • 20 Dec 2010
No new luxury projects launched in Q4
Property developers still held back on launching new luxury developments in the fourth quarter even as buyer interest in these projects increased slightly in the past two months.According to CB Richard Ellis (CBRE), no new luxury developments were released in Q4, despite the increased buying...
Continue Reading • 17 Dec 2010
Property traders may turn to equities
Upbeat estimates for the Hong Kong stock market could attract real estate traders to the equities market, as higher initial down payments and additional stamp duties threaten to squeeze returns on property.After the announcement of the tax and credit measures in November to curb speculation in...
Continue Reading • 17 Dec 2010
Sale value from property auctions rose 33%
The value of properties sold at auctions jumped 33 percent to $223.9 million this year, driven by more big ticket sales and soaring property prices.According to Colliers International, the residential sector accounted for 51.3 percent of the total value of properties sold at auctions this year....
Continue Reading • 17 Dec 2010
Asplenium Land acquires Seletar Road site
A land parcel at Seletar Road has been awarded to Asplenium Land Ltd after offering the highest bid of $123 million in a public tender that closed on December 14.The site was launched for sale on October 26 under the confirmed list of the government’s 2H2010 GLS programme. Zoned for...
Continue Reading • 17 Dec 2010
Strong liquidity, low interest rates boost private home sales
Private residential home sales this year have been fuelled by strong liquidity and low interest rates, with the take-up of new homes in the fourth quarter estimated at 3,600 to 4,000 units.Joseph Tan, executive director for residential at CB Richard Ellis (CBRE), said: “Projects located...
Continue Reading • 17 Dec 2010
Sales volume for private residential units up 79%
The URA monthly sales volume for private residential units excluding executive condominiums (ECs) rose by 79 percent month-on-month to 1,909 units in November.The increase was led by a sharp recovery in sales activity in the Outside Central Region (OCR), which saw a 2.7 percent growth in sales...
Continue Reading • 16 Dec 2010
Private home sales second highest in November
A total of 2,084 private homes were sold last month, marking the highest number of sales per month this year since April.A large portion of these transactions came from only three relatively new projects – Spottiswoode Residences, Waterview and The Lakefront Residences. Together, these...
Continue Reading • 16 Dec 2010
11,849 units unsold in launched projects
Property developers are sitting on 11,849 unsold units in private residential projects that have already been released in the market.As of end-November, developers had a stockpile of 11,849 units in projects that have already begun marketing, based on data compiled by The Business Times using...
Continue Reading • 16 Dec 2010
Seletar Road site draws 11 bids
The URA announced that a land parcel at Seletar Road has attracted a total of 11 bids, with Asplenium Land Ltd offering the highest bid of $123 million, or about $5,032.94 psm of gross floor area (GFA).The 99-year leasehold residential site was launched for sale on October 26 under the confirmed...
Continue Reading • 15 Dec 2010
Asia-Pac hotel room prices up 15% in Q3
Hotel room prices in the Asia Pacific have jumped by 15 percent in the third quarter from the first quarter of 2004, the highest worldwide on higher demand for accommodation, said Johan Svanstrom, Asia Pacific vice president and managing director of Hotels.com.“The prices paid in Asia...
Continue Reading • 15 Dec 2010
Holland Village to get community park
A community park will be constructed in Holland Village by next year, said a joint statement from the Urban Redevelopment Authority (URA) and the National Parks Board (NParks).The park will be located next to the Holland Village Circle Line (CCL) station entrance, serving as a new gateway to...
Continue Reading • 13 Dec 2010
Sim Lian wins Punggol Central site
The Urban Redevelopment Authority (URA) has awarded a land parcel at the junction of Punggol Central and Punggol Walk to Sim Lian Land Ltd & Sim Lian Development Ltd. The company offered the highest bid of $363 million in a public tender that closed on December 7.The land parcel was launched...
Continue Reading • 13 Dec 2010
Investors should target 'new' Singapore stocks: JP Morgan
Investors hoping to take advantage of the economic growth should consider stocks that represent the ‘new’ Singapore, such as those in the resource, leisure and wealth management industries, said Christopher Gee, head of Singapore equity research at JP Morgan. As new growth...
Continue Reading • 10 Dec 2010
OKP, Soilbuild JV wins S$83.5m Orchard Rd condo contract
Property developer Soilbuild Group Holdings and infrastructure and civil engineering group OKP Holdings have jointly won an $83.5-million contract to build a luxury condominium project on former site of The Parisian in Orchard Road.Angullia Development, a wholly-owned unit of China Sonangol Land,...
Continue Reading • 10 Dec 2010
GCB transactions hit $1.85b
Good Class Bungalow (GCB) transactions in Singapore hit $1.85 billion year-to-date, an increase of 7.3 percent from the $1.72 billion deals recorded last year, based on CB Richard Ellis's analysis of URA Realis caveats information.However, according to The Business Times, at least $100 million...
Continue Reading • 9 Dec 2010