Commercial property investments continue to soar in Asia-Pacific
Commercial property investment deals in the Asia-Pacific region continued to grow in the first three months of the year, hitting US$38.6 billion, up from US$28.2 billion during the last quarter of 2009, according to a report by DTZ.DTZ said that the increase was attributed to better economic...
Continue Reading • 20 Apr 2010
Slower April home sales not deterring launches
Home sales slowed in April after a strong showing a month ago. However, property developers haven't been deterred, and plan to launch more residential projects this weekend.In March, 1,761 new private homes were sold – a 47 percent month-on-month increase; however, market watchers said that...
Continue Reading • 20 Apr 2010
Asian property investors expect recovery by Q4
Most of the property investors in Asia reckon that their domestic markets are already at or near the bottom of the property clock and expect the markets in the region to recover by Q4 2010.Meanwhile, investors in Latin America, Canada, and Eastern and Western Europe expect recovery by the first...
Continue Reading • 19 Apr 2010
K Hotels add Quincy Hotel Singapore to its collection
K Hotels, the voice of knowledge for independent hotels, has announced that Quincy Hotel in Singapore is the newest member to its properties. Located near Orchard Road – Singapore’s retail and entertainment hub – the Quincy Hotel offers innovative design and an all-inclusive...
Continue Reading • 16 Apr 2010
Private home sales sizzle despite cooling measures
The government measures to cool the real estate market have not deterred the enthusiasm of home buyers. Property developers sold 1,761 private homes in March alone – up by 47 percent from February’s 1,202.According to the latest figures released by the Urban Redevelopment Authority...
Continue Reading • 16 Apr 2010
Property investment sales climb 18 times higher in Q1, says CBRE
Property consultancy CB Richard Ellis (CBRE) said real estate investment sales for the first quarter of 2010 increased to S$4.87 billion.This was 18 times higher than the S$273.8-million total transactions posted in the same quarter last year.CBRE said in its latest report that the rapid sales of...
Continue Reading • 16 Apr 2010
Global property marketing course to be launched in Singapore
The Singapore Institute of Surveyors and Valuers, along with Singapore Accredited Estate Agencies will launch a Global Real Estate Specialist course next month.The course is part of a programme for real estate practitioners who want to specialize in foreign markets, particularly in the US, UK,...
Continue Reading • 15 Apr 2010
OUB Centre Ltd announces major new tenant for One Raffles Place
OUB Centre Limited has announced the signing of a lease agreement that will see Synergyinthesky Pte Ltd as a major new tenant to operate its viewing gallery, as well as Singapore's highest rooftop restaurant and bar at its One Raffles Place commercial tower.The 10-year tenancy will see the taking...
Continue Reading • 15 Apr 2010
More choices for buyers in the housing market
More new housing units will be added to the market, giving home buyers more choices. HDB will put two residential sites in Sembawang and Sengkang up for sale today.It will also put two other sites in Yishun and Punggol on the Reserve List for public tender in early May.The sites are expected to...
Continue Reading • 14 Apr 2010
Property developers become homebuyers
With the hot property market in Singapore, many property developers are snapping up units in their own projects, particularly high-end properties.The Singapore Exchange filings showed that at least four listed property developers have sold units in their residential projects to relatives or...
Continue Reading • 14 Apr 2010
DBS Bank signs up as main tenant at MBFC Tower Three
Leasing activity in the office sector remains strong, as the economy improves. Analysts said that this has cut the amount of the so-called "shadow space" or vacant office space not on the market.In H1 2009, shadow space was 550,000 square feet, and now, it is just one-tenth of it.In the...
Continue Reading • 14 Apr 2010
Soilbuild tops bid for Yishun industrial site
Soilbuild Group Holdings submitted the highest bid in a government tender for an industrial site at Yishun Avenue 6, said the Urban Redevelopment Authority (URA).The 1.43-hectare plot, which was launched for sale on a 60-year lease, received a total of five bids.Soilbuild's bid of $29.29 million,...
Continue Reading • 14 Apr 2010
Over $500m of GCBs snapped up in Q1, says CBRE
Property consultancy firm CBRE said that more than $500 million worth of Good Class Bungalows (GCBs) have been sold during the first quarter of 2010.Based on CBRE’s analysis of URA Realis caveats, 29 deals were made in Q1 2010, amounting to $470.33 million. In addition, Mr. Douglas Wong,...
Continue Reading • 14 Apr 2010
ECs rise in popularity, thanks to increasing private condo prices
Executive condominiums (ECs) have risen in popularity, say property agents.ECs are the next best thing for those who are priced out of the private condo market, where prices have hit new highs recently.According to real estate agents, the price of each square foot has increased by about 70...
Continue Reading • 13 Apr 2010
Tiong Aik and CDL condo projects gearing up for preview
Property developers are preparing to launch private residential projects, to meet demand from buyers before competition sets in, including those on new sites being sold by the government. Tiong Aik group is expected to preview its freehold Starlight Suites at River Valley Close this week at an...
Continue Reading • 13 Apr 2010
Marina Bay Sands to boost hotel sector, say industry players
The Marina Bay Sands integrated resort in Singapore will add additional hotel rooms in the downtown area, which currently houses nine hotel chains. But existing hotel players see this as a new opportunity rather than a threat.The tower blocks are now famous landmarks in downtown Marina Bay, and...
Continue Reading • 13 Apr 2010
EL Development to acquire Diamond Tower in Balestier
EL Development has signed a deal to acquire the freehold Diamond Tower in the Balestier area for about $49.6 million through an en bloc sale.The price for the freehold tower works out at around $652 psf of potential gross floor area, inclusive of a $300,000 development charge payable to the...
Continue Reading • 12 Apr 2010
Cashew Heights owners plan a second collective sale
Owners of Cashew Heights condominium are planning to put the property into a collective sale for the second time, as the first attempt, three years ago, had failed.About 170 owners of the 598-unit estate have signed a requisition to hold an extra-ordinary general meeting (EGM), which will put the...
Continue Reading • 12 Apr 2010
Fragrance Properties acquires Culford Garden for $39m
Fragrance Properties has acquired Culford Garden, a 24-unit apartment at Siglap, for $39 million in a collective sale – the third successful en bloc sale this year.Each owner could receive an average of 1.625 million from the sale’s proceed.The sale price translates to a land rate of...
Continue Reading • 12 Apr 2010
Government released 8 residential sites in Q1
The government released eight residential sites, which can yield about 3,340 executive and private condominium homes, during the first three months of the year, as home buyers continued to snap up new homes and property developers clamoured for plots to replenish their shrinking landbanks.Five of...
Continue Reading • 12 Apr 2010