New Bridge Road site's $44m bid
The Urban Redevelopment Authority (URA) announced that it will be launching a public tender for a hotel site located at New Bridge Road in July 2009.The 0.45 hectare hotel site was made available for sale by April 2007’s reserve list system of the Singaporean government. The government's...
Continue Reading • 31 Dec 2009
ABC guide to house developers for greener designs
A new design guideline, aimed at both public and private developers to bring out rain gardens and plant-covered condominiums, was released by PUB. The guideline, which is included in the Active Beautiful Clean Waters (ABC Waters) Programme, discusses several methods by which water features and...
Continue Reading • 31 Dec 2009
Q2 sales of pre-owned houses grew 71 percent
The Urban Redevelopment Authority (URA) said the number of pre-owned, private houses sold during the second quarter increased 71 percent from 856 units in the first quarter to 1,706 units.Re-sale capital values also increased in the second quarter, though it was still less than the figures seen...
Continue Reading • 31 Dec 2009
Strong weekend sales for fresh projects
This week saw high sales turnover rates for a number of condo projects.Frasers Centrepoint sold 302 of its 330 units at the Woodleigh Close project. The units were sold at $790 per sq ft on average. According to Lim Ee Seng, chief executive of the company, majority of the buyers were Singaporeans...
Continue Reading • 31 Dec 2009
Property brokering needs government oversight
Regulatory reforms in the property industry are long overdue and it's time that the government addresses the concerns of real estate buyers and sellers.Two years ago, my relative hired a property agent to sell her flat, but she eventually noticed that every time a prospective buyer visits the...
Continue Reading • 31 Dec 2009
Buyers crowd over showflats
Since Friday, Frasers Centrepoint sold more than 90% of its 330-unit 8@Woodleigh condo. The 99-year leasehold project, which is located near Potong Pasir MRT Station, sells at $780 per square foot, but the prices are 3 percent higher under the interest absorption scheme (IAS).The 15-storey...
Continue Reading • 31 Dec 2009
The Do's and Don'ts of Buying a House
The global recession sent house sales falling, thus luring the buy-side sector to take advantage of big price cuts. Sales of newly-constructed private homes hit a two-year historic low at 1,668 units last month, while housing prices were down by 25% since last year.Though market observers...
Continue Reading • 31 Dec 2009
Prices of high-end bungalows rally as sales rebound
The high-end bungalow market showed significant improvements since the start of the year, with property agents even expecting to sell more units. “I expect to sell six to eight out of the 15 good class bungalows (GCB) on hand within six months” said K.H.Tan, Newsman Realty’s...
Continue Reading • 31 Dec 2009
Changi road and Balestier properties open for bidding
A site at Changi and Still roads with a façade corner is for developmental endorsement to make it a commercial and residential venture, and a Balestier revamped shophouse with a six-storey rear annex block are up for bid amounting to around $40 million. The receiver and manager of Asia Pte...
Continue Reading • 31 Dec 2009
Developers take advantage of home-buying wave
There’s a strong wave of home-buying this season. Interested private home buyers are welcome to project launches with as much as 1,668 units available since May. Sale price of brand new homes have slithered up since earlier this year.However, this buying wave may not last long since its...
Continue Reading • 31 Dec 2009
Home sales on a roll in the second quarter
Despite the recession, 1,668 new private home units were sold in May, just a little lower compared to the all-time high of 1,731 in August 2007. This would not happen if price cuts weren’t considered and the share market assembly enhanced buyer confidence. Strong developer sales were also...
Continue Reading • 31 Dec 2009
Economic stability still unsure in home sales industry
Private home market declined amid the global crisis. However, in May, sales flourished, selling a total of 1,668 units. Nonetheless, industry experts believed this will not last for long if the economy will remain to decline. Experts are also worried with the weak rental demand.Urban...
Continue Reading • 31 Dec 2009
Strong demand for The Shore Residences
Property developer Far East Organization said its newest project, The Shore Residences, saw strong demand since the start of its preview two weeks ago.The 408-unit The Shore Residences is located in the Katong area.The property developer said more than 70 units were sold and interested buyers...
Continue Reading • 31 Dec 2009
Greenlodge Condo up for en bloc sale, with $135m asking price
Owners at Greenlodge Condominium in Toh Tuck Road launched its freehold estate for en bloc sale. This was prompted by the improving property market.They are asking for $135 million for the site, which translates to $683 per square foot per plot ratio (psf ppr), including the development...
Continue Reading • 31 Dec 2009
Analysts reckon office rents will continue falling in 2010
The entire year of 2009 saw an almost 50 percent decline in office rents in Singapore. Observers attribute this mainly to the global economic crisis.The decline is not a cause for undue concern, as it follows a 90 percent spike in rents the previous year. However, analysts said that there is a...
Continue Reading • 31 Dec 2009
Wisma basement traffic doubles
The underpass between Wisma Atria and Orchard MRT was recently opened and pedestrian traffic to the mall’s basement increased by over 100 percent compared to last year, said mall owner Starhill Global REIT.Formerly known as Macquarie Meag Prime REIT, Starhill Global owns 74.23 percent of...
Continue Reading • 31 Dec 2009
Cash perks from office rentals
The intense competition for tenants is causing landlords to resort offering cash or capital contributions to draw new business in the typically calm office sector. Also called capital expenditures, these “golden hellos” range from $500,000 to a couple of million dollars according to...
Continue Reading • 31 Dec 2009
Yuexiu Property acquires land plot in China for $112 million
Singapore Developer Yuexiu Property said yesterday that one of its units purchased land plot in China worth 544 million yuan or about 112 million Singapore dollars.It said that 95 percent of its owned subsidiary acquired the land plot located in Zhongshan City in Guangdong province, China through...
Continue Reading • 30 Dec 2009
Terrace homes comprise the lion's share of landed homes
Prices of landed homes continue to escalate this year in the five most renowned districts despite the setting in of price fatigue for apartments and condominiums.Credo Real Estate’s caveats analysis, which covered a period of four years from the time when residential property commenced into...
Continue Reading • 30 Dec 2009
S'pore government promises affordable homes despite housing price increases
It has been a tough ride for the property market in Singapore this year, plummeting in the first quarter before accounting a good rebound.Market experts said that the housing market will more likely continue to rise in 2010, spurred by economic recovery, as well as the opening of...
Continue Reading • 30 Dec 2009