SAEA intends to develop property agents
A push to deepen the expertise of property agents was launched by a group of estate agents.It is the Singapore Accredited Estate Agencies’ (SAEA) desire that every housing agent becomes a holder of at least one entry-level certificate of the Common Examination for Salesperson (CES) because...
Continue Reading • 29 Dec 2009
Tanah Merah condo creates early massive queue
The showflats in Singapore was scheduled to be launched on Friday. However, on Monday, most property agents had already lined up for flats at Tanah Merah's Optima condominium. They all went home when the developer TID denied to recognize the queue.This had not discouraged interested buyers from...
Continue Reading • 29 Dec 2009
Developers state No forming property bubble
Many property developers enjoy the surge in interest from buyers, but they are doubtful that a speculation has arrived at a point where the government needs to get involved.The developers also maintain that the current economic status will stop a bubble formation and will start to cool the buying...
Continue Reading • 29 Dec 2009
A-iTrust’s Q1 DPU grows 25%
Based on the Ascendas Property Fund Trustee Private Limited, the REIT’s trustee manager, Ascendas India Trust (A-iTrust) is having a 2.06 cents distribution per unit (DPU) for its financial quarter ended 30 June 2009, a 25 percent increased compared to the same period in 2008.It said the...
Continue Reading • 29 Dec 2009
Property developers jointly celebrates topping out of Tower One
Hongkong Land, Cheung Kong (Holdings) and Keppel Land jointly celebrated Tower One’s topping out at Marina Bay Financial Centre (MBCF) on Wednesday. Mah Bow Tan, the National Development Minister, was the guest of honour during the event.Tower One has accomplished a 100% pre-commitment rate...
Continue Reading • 29 Dec 2009
DTZ Research sees more property deals worth above $100 million
DTZ Research, a global property adviser, said that the last quarter of the financial year saw a rising trend of larger property deals in the Singapore market.The value of property deals transacted in the last quarter were larger compared to the trend of small deals over the past three quarters of...
Continue Reading • 29 Dec 2009
Property bubble due to herd instinct
It appears that the recent surge in new condominium developments sales is a blessing, despite the fact that things could develop into a bubble.But the quite attractive terms offered by the developers seemed to verify that this could only be speculative demand. Within eight weeks, a 15 percent...
Continue Reading • 29 Dec 2009
Markets gear up for reality check
The month of July becomes good news for everything. It all began with the amazing jump of GDP growth figures for this year’s second quarter, which the economist quickly saw that the year growth estimates has inclined. Then, based on property data, the second quarter of 2009 was among the...
Continue Reading • 29 Dec 2009
Residential site in Sengkang to be launched for public tender
The Housing Development Board (HDB) has received an application from a property developer to launch a residential site located at Sengkang West Avenue for public tender.The parcel of land is under HDB's Reserve List System.Under the Reserve List System, a site will only be put up for public...
Continue Reading • 29 Dec 2009
Most buyers prefer suburban condos
In Singapore, the latest signs of perky suburban property industry are starting to show up. In Ang Mo Kio area, many homebuyers have been sending cheques to purchase properties at rarely seen prices outside prime central areas of Singapore.In the upcoming 329-unit Centro Residences by Far East...
Continue Reading • 29 Dec 2009
Homes oversupply may not be seen next year
Fears of private homes oversupply for the upcoming year have lessened, and there is a possibility of having a shortage.The real estate stat for Q2 of Urban Redevelopment Authority (URA) released last day suggest that any probable oversupply has been predicted to occur in 2011 or maybe later as...
Continue Reading • 28 Dec 2009
Trevista condo’s initial phase costs $898 psf on average
NTUC Choice Homes Co-operative sets the initial phase of Trevista condo located at Toa Payoh at an average cost of $898 psf. This value is 20 percent lesser than the Centro Residences beside Ang Mo Kio Hub, which has an average price of $1,150 psf.However, Trevista’s condo units are bigger...
Continue Reading • 28 Dec 2009
Two premier houses to be auctioned in Singapore
As part of the non-core assets disposal plan, two good class bungalows (GCB) in Queen Astrid Park will be put into auction sale by TM Asia Life Singapore.Irinn Lee, director and auctioneer at Credo Real Estate said: “We are seeking offers in excess of $36 million, which works out to $890...
Continue Reading • 28 Dec 2009
Median non-landed sub-sale prices increase 18%
DTZ’s analysis based on caveats showed an 18.1 percent increased on the median sub-sale cost of non-landed private residential properties to $960 per square foot (psf) in Q2, from $813 psf in Q1. The increase is attributed by more higher-end property transactions in Q2 in addition to the...
Continue Reading • 28 Dec 2009
Many buyers today are going for high-priced homes
The data from property consultancy DTZ shows that the property boom is vastly spreading to the higher market as most buyers today consider pricy homes and properties.The analysis of caveats lodged indicates that during the second quarter of the year, 22 percent of total private home sales were...
Continue Reading • 28 Dec 2009
Homes worth above $1.5 million cut bigger slice of 2009’s Q2 deals
An analysis of caveats shows that in the second quarter of 2009, enhanced view in the private residential section has filtered from the mass-market to the higher levels.The proportion of caveats for private housing dealings in Q2 was about $1.5 million, more than the result in Q1’s.A study...
Continue Reading • 28 Dec 2009
Theme park developers to focus on Asia
The global economic downturn has bankrupted some US theme parks and set grand plans for new ones in the Middle East.However, in Asia, a development boom is ongoing, as operators compete to roll out parks and add attractions to draw in the region's growing middle class.In Hong Kong, the...
Continue Reading • 28 Dec 2009
Foreign purchasers prefer mid-tier city-fringe residences
In Singapore, foreign purchasing of private residences increased in Q2, but has not regained full force with regard to its share in higher-priced transactions, based on DTZ’s caveats analysis. The quarter predicts a revitalisation of purchases by Indonesians, who are the leading buyers in...
Continue Reading • 28 Dec 2009
The need for Structural changes
Based on the latest reports, the current property prices are approximately 19 times the average annual income of every household.Based on the average household income of $5,500 and the common household size of 3.5 persons, four- to five-room flat of about 1,200 square foot will cost an average...
Continue Reading • 28 Dec 2009
Prime residential prices may increase 18% by end-2010
Based on the UBS Investment Research, launch prices for newly built private houses has increased by 18 percent and 10 percent in mass and prime districts respectively during the first half of 2009.As foreigners start to purchase and the interests continue to improve, analysts Michael Lim and...
Continue Reading • 28 Dec 2009