No developers yet to venture into developing retirement villages
The ageing population in Singapore indicates a rising need for better medical facilities and care for the elderly - not least of what would be a retirement village for the more independent-minded.Retirement communities or villages are huge businesses in countries like Australia, the US and in...
Continue Reading • 23 Dec 2009
Time to invest in mass market properties in Asia
Despite the recent rise in property prices in Hong Kong and Singapore, Managing Director Tim Murphy of IP Global Ltd is still optimistic on the sector, particularly in mass market property.“If you want to make real money in real estate, you should be buying stuff which is at the mass market...
Continue Reading • 23 Dec 2009
Retail rents start to pick up
Retail rents in the prime Orchard Road and suburban malls are creeping up in the last quarter, after declining for 4 straight quarters. A report by DTZ Research showed the gross rents of prime first-storey retail space in Scotts and Orchard roads increased 1 percent to $39.70 psf per month, after...
Continue Reading • 22 Dec 2009
Mayfair Gardens up for en bloc sale
There are more signs of life in the en bloc market, with owners of Mayfair Gardens located in Rifle Range Road being the most recent to put their estate up for sale.Mayfair residents want $210 million or more for their 99-year leasehold plot, which accounts to around $857 per square foot of...
Continue Reading • 22 Dec 2009
Opening of Marina Bay IR delayed
The Marina Bay Sands Integrated Resort will open its first phase of operation by mid-April 2010, instead of February, as earlier announced.About half of the integrated resort, including the casino and most of the restaurant units, will open by the end of March. The entire $5.5 billion IR project...
Continue Reading • 22 Dec 2009
Han Seng Juan makes a handsome profit from GCB sale
Han Seng Juan, the former star stockbroker, is believed to be the seller of a good class bungalow (GCB) located in Astrid Hill that was sold in November for $25.75 million. The price translates to around $970 per sq ft on land area of more than 26,000 sq ft.The price is almost twice of what Mr....
Continue Reading • 21 Dec 2009
Showflats to remain open during the year-end holidays
The market for new homes is quiet, as potential buyers and developers take their time off for the holidays.“If you are going to sell one or two units now, you might as well close shop and wait till next year,” said Donald Han, managing director of Cushman & Wakefield....
Continue Reading • 21 Dec 2009
Property investments in APAC region to double in 2010
The Asia Pacific region will have around $85 billion to spend for direct investment in property by next year. The amount is twice the $43 billion transacted in the past 12 months, according to DTZ Research.The $85 billion translates to 27 percent of the total capital worth $315 billion, which...
Continue Reading • 21 Dec 2009
Prices of prime real-estate sets new high
Prices of resale landed homes have already set high records this year despite the uncertain economic recovery, according to a recent report.The report by DTZ Research highlights the prices of resale landed homes in the prime districts of 9, 10 and 11, including the Bukit Timah, Orchard and...
Continue Reading • 21 Dec 2009
Non-residential property values tripled in 2009
Singapore’s non-residential property values have more than tripled this year.Auction house of Jones Lang LaSalle (JLL) said yesterday the quantum of non-residential properties surged to $101.18 million from last year’s $26.9 million.It said the increase is mainly due to...
Continue Reading • 18 Dec 2009
2009 property auction sales double to $168.4 million
Property auction sales are expected to continue rising in 2010, stimulated by interest in the high-end residential market, Colliers International said. The total value of properties sold at auctions may exceed $200 million next year, after the figure doubled in 2009 from $83.7 million last year...
Continue Reading • 18 Dec 2009
Prime office rents in CBD core drop 4.9 percent
The average rents for Prime Grade A office buildings in the CBD core area dropped 4.9 percent in Q4 from Q3, according to the data released by Jones Lang LaSalle (JLL).This decline is much smaller compared to the 13.7 percent drop in Q3, the 11.6 percent in Q2 and the 28.1 percent decline in Q1...
Continue Reading • 17 Dec 2009
Excellent year for the GCB market
The Good Class Bungalow (GCB) market recorded 100 transactions in the first 11 months of 2009, which is worth $1.6 billion in totality.The figure, which is based on analysis done by CB Richard Ellis (CBRE), is nearly double the $827 million, or 51 deals valued for 2008.The value also exceeded the...
Continue Reading • 17 Dec 2009
Sales of uncompleted private homes remain down in November
Singapore’s sales of uncompleted private homes in November dropped 26 percent, making it the 4th successive month of decline.About 600 units were sold in November, the second lowest level since January 2009 when private home sales dropped below 1,000 units.But several experts said that 600...
Continue Reading • 16 Dec 2009
Bedok site now open for application
A 99-year leasehold site next to Bedok MRT Station is now open for application by developers through the reserve list of the government. The site is considered by some property consultants to be worth over $500 million.The 2.49-hectare plot is intended for residential and commercial use....
Continue Reading • 16 Dec 2009
Singapore office market turns resilient
The Singapore office market in 2009 was marked by falling rentals, on the expectations that some 2.2 million sq ft of space was to come on-stream island-wide in this recessionary year. In 4Q09, the positive outlook of an economic recovery in US and Asia lifted business sentiments and led to a...
Continue Reading • 16 Dec 2009
Investors’ market as upgraders cool down
URA’s figures for private property sales in November 2009 fell to a mere 600 transactions, the lowest since January this year.“These are signs that mass market buyers are exercising greater caution,” says PropNex CEO Mohamed Ismail. Due to the Government’s recent...
Continue Reading • 15 Dec 2009
14,500 new home sales expected in 2009
Around 14,500 new homes are expected to be sold for the whole of this year, second only to the 2007 record of 14,811 units.According to property consultancy firm CBRE, despite the high volume of sales, caveats lodged so far indicated that the total selling price paid in 2009 for new homes was 58...
Continue Reading • 15 Dec 2009
Industrial rents may fall further in 2010
Production lines may have continued its operations but market watchers are not expecting the industrial property sector to recover in 2010.The uncertainty of the economy, greater supply of industrial spaces and relocation of offices could cause rents to fall even further, although at a more...
Continue Reading • 15 Dec 2009
Singapore leasing activity shows signs of recovery
The Singapore office market has experienced some recovery since its dull start this year.Although office rents are still expected to fall further in 2010, but at a much slower pace compared to the past 15 months, a recent unexpected rise of leasing activity has created speculation about office...
Continue Reading • 11 Dec 2009