Condominium - $900K offer for Bishan EC unit
An executive maisonette unit in Bishan has been put up for sale at around $950,000, according to a report. One buyer has expressed interest in purchasing the unit and has offered $900,000.Based on the report, the asking price for the EM unit is $170,000 above the cash over valuation (COV). The...
Continue Reading • 31 Mar 2010
Property Sale - URA tender at Changi Road North / Flora Drive
The Urban Redevelopment Authority (URA) has launched a residential site at Upper Changi Road North / Flora Drive for public tender, with a minimum bid price of $82 million. The 30,678.7-sq-m land parcel is situated within an established residential estate in the Pasir Ris area with condominiums...
Continue Reading • 31 Mar 2010
New Homes for Sale - Robust demand in Q1 2010
Demand for new private homes during the first quarter of 2010 more than doubled compared to that in Q4 2009, according to a new report. Nearly 4,000 new units changed hands in the first three months of the year, compared to only 1,860 in the previous quarter.According to CB Richard Ellis (CBRE),...
Continue Reading • 31 Mar 2010
60 units at Goodwood Residence sold over the past two weeks
Malaysian tycoon Quek Leng Chan of GuocoLand has sold 60 units at the freehold Goodwood Residence project along Bukit Timah Road over the past two weekends, with prices ranging from $2,355 psf to $2,555 psf.According to statutory filings of Guoco-Land to the Singapore Exchange, Mr. Quek picked up...
Continue Reading • 30 Mar 2010
Collective sales market remains weak
The real estate market may be a hit with its new launches, but the intensity has yet to reach the collective sales market.The two residential sites released for sale in December last year are unlikely to find new owners. A bid launched in January for Mayfair Gardens at Rifle Range Road has ended,...
Continue Reading • 29 Mar 2010
Latest en bloc site put up for sale
Pender Court, an apartment complex at the foot of Mount Faber is the most recent en bloc site to put up for sale, and the sixth collective sale released since the start of 2010.While the number of en bloc sales for this year remains lower than the 2007 market peak, many analysts and market...
Continue Reading • 29 Mar 2010
16 terrace houses in Fort Road close to being sold
16 freehold terrace houses at Fort Road in the Tanjong Rhu area are close to being sold for around $86 million.Chip Eng Seng, a construction and property firm, is believed to have been granted an option to acquire the houses. However, the sale is still subject to approval from its...
Continue Reading • 29 Mar 2010
All units at 76 Shenton sold out in one day
Property developer Hong Leong Holdings has sold all 202 units at its 76 Shenton condo project in just one day.The one- and two-room units in the 99-year leasehold project were sold after a balloting exercise. The selling price for one-room apartments worked out to about $1,600 psf -$2,600 psf...
Continue Reading • 26 Mar 2010
Singapore office property market stabilizing, says JLL
The office property market in Singapore is bottoming out and the declining rentals are now stabilising, according to data released by Jones Lang Lasalle.This is in contrast to the average Prime Grade A gross effective rent in the CBD area, which has declined by 0.6 percent on quarter to $7.75 psf...
Continue Reading • 26 Mar 2010
Luxury home prices set to bounce back this year
With the launch of "The Residences at W Singapore" at Sentosa Cove this weekend, there will be more options for home seekers in the high-end property market.Market watchers expect property developers to release more of such projects in the coming months, with luxury homes touted to be...
Continue Reading • 26 Mar 2010
New Residential Price Index launched in Singapore
Singapore has a new price index, which provides information on the state of the residential property market in the country.The National University of Singapore's Institute of Real Estate Studies formulated the Singapore Residential Price Index (SRPI), the first such index by an academic...
Continue Reading • 25 Mar 2010
Jackie Chan purchases three units at Centennia Suites project
Hong Kong actor Jackie Chan, along with singer/songwriter friend Emil Chau have acquired properties in Singapore during their visit to the city state.The two known personalities purchased four apartment units at Lippo Group's Centennia Suites project amounting to more than $10 million. The four...
Continue Reading • 25 Mar 2010
All but one unit snapped up at the latest Reflections launch
The Reflections at Keppel Bay project is receiving overwhelming response in the property market, with 710 of the 740 units released at the 99-year leasehold project already sold out.At its latest launch, 29 out of 30 released units in tower block 2B were snapped up. The average selling price of...
Continue Reading • 25 Mar 2010
Singapore gears up for Smart Expo 2010
SMART Expo, a two-day Investment and International Property Expo, will be held at Suntec Singapore International Exhibition and Convention Centre (Hall 401) from 10 am to 7 pm on March 27 and 28, 2010.The free seminars, organized by SMART, will feature international property experts, who will be...
Continue Reading • 25 Mar 2010
REDAS president urges government to set private property free
Simon Cheong, the president of the Real Estate Developers' Association of Singapore (REDAS), has urged the government to allow the property market in the country to operate completely as a free market.Speaking during the launch of a new price index for private homes in Singapore, Mr. Cheong asked...
Continue Reading • 25 Mar 2010
Wee Hur secures $103.6-million CMT project
WEE Hur Holdings has secured a $103.6-million project from Singapore property investment giant CapitaMall Trust, to reconstruct Jurong Entertainment Centre.The project involves building a five-storey shopping and entertainment complex with a three-level basement.The Olympic-size ice-skating rink...
Continue Reading • 24 Mar 2010
Government releases four residential sites in one go
The government has released four more residential sites for sale, which can accommodate more than 1,200 private home units.The Urban Redevelopment Authority (URA) said yesterday that the potential land supply from the government's land sales programme, as well as the supply from projects in the...
Continue Reading • 24 Mar 2010
Singapore and Hong Kong climb to top 5 on annual luxury home price-rise list
From the bottom five on the annual list measuring the rise in luxury home prices, Singapore and Hong Kong have climbed to the top five, based on the latest figures released by property consultants Knight Frank International for 2009.According to the firm, this reflects the attraction of prime...
Continue Reading • 24 Mar 2010
Three project launches expected this week
Property developers in Singapore continue to launch new residential projects. A joint venture project – TID Pte Ltd – between Japan's Mitsui Fudosan and Hong Leong Group is expected to preview its 65-unit Nathan Suites at Nathan Road within the next two weeks.The 24-storey freehold...
Continue Reading • 23 Mar 2010
Retail rents expected to rise in H2 2010
According to DTZ Research, retail rents across Singapore were steady for the first three months of the year. However, analysts said that retail rents could increase moderately in the second half of 2010, as economic conditions are showing signs of improvement.Tourists and shoppers are boosting...
Continue Reading • 23 Mar 2010