Orchard Road hotels and retailers unfazed by IR opening
Singapore’s Universal Studios and first casino at Resorts World Sentosa garnered all the attention over the Lunar New Year holidays.However, some are wondering if the focus on roller coaster rides and roulette tables will affect the performance of the mainland's central shopping belt along...
Continue Reading • 18 Feb 2010
Private home sales kick off
The private residential market in Singapore roared back to life in January.According to data released by the Urban Redevelopment Authority (URA) on Wednesday, 1,476 units were sold in January 2010, about three times the 481 units sold in December 2009.The increase in the number of private homes...
Continue Reading • 18 Feb 2010
Malaysians are top foreign buyers
According to a recent report, Malaysians are buying more private homes in Singapore, compared with any other nationality. DTZ Debenham Tie Leung found that 27 percent of the total transactions last year came from non-Singaporeans, including foreigners and permanent residents (PRs).The study,...
Continue Reading • 18 Feb 2010
RWS draws a vast number of visitors
When Lim Kok Thay, Chairman of Genting Group, cut the ribbon to officially open the first casino in Singapore on Sunday, he said: “We have waited a long time for this.”The casino at the new Resorts World Sentosa (RWS) was so packed within hours of opening that it had to close its...
Continue Reading • 17 Feb 2010
FEO sells 100 units at its latest project
Far East Organization (FEO) said it has sold 100 units at the Altez in Enggor Street, its latest residential project comprising of 280 units.According to FEO, 100 of the 104 units released during a preview for priority customers last week were sold. Prices ranged from $1,600 psf to $2,000 psf.The...
Continue Reading • 17 Feb 2010
Property launches set to increase
Property developers are set to launch new offerings for home-buyers now that the holidays are over.While some will have new phases released or have started preview sales, at least six projects are being set for launch.In the high-end property segment, Wing Tai is preparing to sell its 147-unit...
Continue Reading • 17 Feb 2010
Tiger Year will bring opportunities in the property market
The year of the Golden Tiger is expected to bring a lot of opportunities in the real estate market.Many analysts agree that 2010 presents opportunities for investors to purchase in anticipation of a price recovery, with the economy expected to expand between 3 percent and 5 percent this year and...
Continue Reading • 17 Feb 2010
Universal Studios Singapore opens on Sunday
Together with Universal Studios’ partial opening, the first casino in Singapore will open on Sunday at around 12:18pm.It will be a day of festivities at the Integrated Resort on the red-letter day. Planned activities include the evening previews at its Universal Studios theme park and the...
Continue Reading • 12 Feb 2010
Collective sales set to launch again
As many as 50 collective sales may be launched in 2010, but the deals may take longer because of rising price expectations and revised rules.According to property agents polled by The Business Times, as many as 50 collective sales are set to take off in 2010, though at least half of these could...
Continue Reading • 12 Feb 2010
Singapore office rents drop 46.2% in Q4 2009
Hong Kong, Singapore and Tokyo were still the top three most expensive office locations in the Asia-Pacific region during Q4 2009, according to Colliers International.However, Singapore’s Grade A office rents suffered a huge decline last year across all Asia-Pacific markets. Grade A office...
Continue Reading • 11 Feb 2010
URA launches Mohamed Sultan Rd office site for public tender
The Urban Redevelopment Authority (URA) has launched a transitional office site located at Mohamed Sultan Road for sale through public tender.The site, with a lease period of 15 years, has a maximum permissible gross floor area of around 9,200 sq m and a land area of around 0.62 hectares.It is...
Continue Reading • 10 Feb 2010
Property prices recover after disastrous start in 2009
According to the latest published figures, Singapore’s residential property prices rose 7.4 percent in the last quarter of 2009, as the property market made a quick recovery from last year’s weak start.This followed the 15.8 percent increase in the previous quarter, a quick turnaround...
Continue Reading • 9 Feb 2010
RWS casino gears up for CNY opening
Singapore’s Universal Studios theme park and RWS casino are expected to open this coming Chinese New Year, which is considered a good timing.Staff and tenants at Resorts World Sentosa (RWS) said they have been preparing for the big opening celebration scheduled for the weekend.They have...
Continue Reading • 8 Feb 2010
Condos without a tennis court are still a hit
Spending a lot of money does not necessarily get you everything you need these days, unless when it comes to purchasing a private apartment.New homes that cost as much as $2,600 psf can offer designer furnishings and put you in a coveted district, but these homes may no longer have large common...
Continue Reading • 8 Feb 2010
Sengkang condo site receives a top bid of $200.5m
A tender for a parcel of land in Sengkang saw robust bidding, with the top offer exceeding $200 million.According to industry experts, it marks a growing interest by developers to snap up good sites.The site at Fernvale Link and Sengkang West Avenue received bids from 10 developers.The top bid of...
Continue Reading • 5 Feb 2010
Luxury home prices in Singapore are no match for Hong Kong's
A bungalow at Ocean Drive was sold for nearly $30 million in October, while a duplex house in Hong Kong, which is about one-third the size, was sold for as much as three times the price of the bungalow.Luxury-home prices in Singapore are no match for Hong Kong’s due to the increasing number...
Continue Reading • 4 Feb 2010
Industrial building sold for $27.5m in first en bloc sale this year
The real estate en bloc sale market got an early boost after a freehold three-storey industrial terrace factory building located at No. 6 Jalan Ampas, off Balestier Rd, was sold to a private developer for $27.5 million.The private developer is said to be an experienced player in the industrial...
Continue Reading • 4 Feb 2010
Far East is January's top seller, MCL and Lippo may release some units
Developers have made a good start to 2010, selling more than 1,000 private homes in January. However, their launch machinery is still well oiled for more roll-outs in the coming months.Later this week, Lippo is expected to preview Centennia Suites on the former Kim Seng Plaza site, diagonally...
Continue Reading • 2 Feb 2010
Tanjong Pagar - Singapore's next waterfront city
Singapore’s next waterfront city has been identified - Tanjong Pagar. This news was announced even though the iconic Marina Bay has not yet been completed.The area is currently home to cranes and rows of containers which are waiting to be loaded into the ships at one of the busiest ports in...
Continue Reading • 2 Feb 2010
A terrace house for $500,000?
Mr. He, who refused to reveal his full name, purchased a double-storey terrace house in Jalan Chempaka Kuning for $600,000 six years ago.The 72-year-old retiree said that just a few months ago, he rejected a $600,000 offer for his house, which is about 2,200 square feet.One property agent said...
Continue Reading • 1 Feb 2010