Global property prices recover, according to a survey
Property prices in Singapore recorded the highest rise globally in Q3 2009, according to the latest Global House Price Index from Knight Frank.Although two-thirds of the countries covered in the survey showed an increase in property prices, year-on-year property prices in more than half of the...
Continue Reading • 11 Dec 2009
Singapore REITs under credit pressure
The soft property market and credit crisis are adding pressure on Singapore’s property trusts, said the analysts. They are expecting more cash-strapped Real Estate Investment Trusts (REITs) to seek funding through rights issues in the forthcoming months.The analysts also said that three to...
Continue Reading • 10 Dec 2009
Rising trend of foreign buyers at Sentosa Cove homes
Foreigners, including permanent residents contributed to the 43 percent increase of home transactions in Sentosa Cove in the first ten months of 2009, from nearly 38-39 percent in 2007 and 2008.A Savills analysis of caveats data captured by URA's Realis system also indicated that four out of ten...
Continue Reading • 10 Dec 2009
Industry observers expect more high-end projects in 2010
Singapore's property market is beginning to stabilize and developers in the country are ready to launch more expensive homes. Industry observers remain positive for the high-end residential sector, which may have more launches in 2010 if the economy continues to move smoothly towards...
Continue Reading • 10 Dec 2009
URA closes tender for Pioneer Road North industrial site
The Urban Redevelopment Authority (URA) has closed the tender for an industrial site at Pioneer Road North after receiving a total of eight bids. The highest bid came from property developer Kng Realty at $19.4 million.Sia Kong Wah & Gimp Investment submitted the next highest bid of $18...
Continue Reading • 10 Dec 2009
2010 is a better year for commercial property investment
2010 is more likely to be a promising year for property investment across most market sectors, according to the 16th Investment Strategy Annual released today by LaSalle Investment Management. The annual report includes a comprehensive survey and outlook of the global property market for 2010.Its...
Continue Reading • 9 Dec 2009
$38.5m bid for HDB’s Westwood Ave residential site
Chappelis Pte Ltd submitted a top bid of $38.5 million for the Westwood Avenue residential site.HDB said it received 32 bids, with the lowest one from Boon Keng Development, worth $16.8 million.The second highest bid was $38 million, which came from a joint venture between Sunway Developments and...
Continue Reading • 9 Dec 2009
Q3 private residential property transactions rise 20%
Singapore's private residential market experienced a strong surge in the third quarter, as the volume of transactions increased 20 percent over the second quarter. According to property consultancy firm Savills, around 11,000 units were sold between July and September, mostly in the mid-tier and...
Continue Reading • 9 Dec 2009
Property investment sales recover after slow start
Investment sales of Singapore property recovered with a $9.4 billion year-to-date tally, after a slow start in the first quarter. CB Richard Ellis (CBRE) projects that the full-year figure will reach more than $10 billion after all transacted caveats in November and December have been lodged....
Continue Reading • 8 Dec 2009
Sentosa Cove draws more transactions
Homes in Sentosa Cove drew strong interest in the first 10 months of 2009 from high-net-worth investors. More properties costing over $10 million were transacted over this period compared to the last four years. According to property consultancy firm Savills Singapore, its analysis of URA Realis...
Continue Reading • 7 Dec 2009
Singapore property prices increasing
The dramatic rebound of the real estate sector in Singapore, including the renewed interest of foreign buyers, has become a big concern to government officials. This resulted in new measures being created to stop property speculations. The government’s earlier measures to boost the housing...
Continue Reading • 7 Dec 2009
Las Vegas Sands plans phased opening for resort
Las Vegas Sands Corporation is expecting to launch its $5.5 billon casino resort with 2,700 rooms in phases starting in Q1 2010, a company spokesman said.He refused to provide the exact schedule for the opening, which will include 800 to 1000 hotel rooms. However, one source said it would...
Continue Reading • 7 Dec 2009
Singapore and Hong Kong investors expect portfolio value to rise
Based on a survey done by Barclays Wealth on high net worth individuals, Singapore and Hong Kong investors are very much interested in properties. In fact, HK investors have apportioned 25 percent of their portfolios to property.Both groups are expecting to allocate a larger portion of their...
Continue Reading • 4 Dec 2009
Six whole floors purchased at Marina Bay Suites preview
About half a dozen floors at Marina Bay Suites were sold during last week’s preview. Its buyers are believed to be Singaporeans, Indonesians and other Asians.The biggest transaction recorded in the preview was about $45 million, including at least two whole floors that were purchased...
Continue Reading • 3 Dec 2009
Singapore plunges to 32nd spot in the global office rental price list
In Singapore, office rental prices declined significantly, causing the country to fall to the 32nd spot in a list of the most expensive office rental markets around the world. Previously, Singapore was in 9th place on the list a year ago and took the 15th spot in June 2009. Singapore saw a 53.4...
Continue Reading • 2 Dec 2009
Rich people prefer investing in property
Rich people are more likely to invest in properties, which are now considered as better opportunities for long-term returns than bonds and stocks, according to a recent survey done by Barclays. The global survey shows that several people are now planning to increase their investments in...
Continue Reading • 2 Dec 2009
Dragon Mansion sold for $101 million
A unit of Roxy-Pacific Holdings bought the Dragon Mansion located at 18 Spottiswoode Park Road for $100.8 million, including the development charge (DC). This works out to around $863 per sq ft per plot ratio (psf ppr).The property has become the first successful collective sale in Singapore for...
Continue Reading • 2 Dec 2009
Singapore prime rents rank as 18th most expensive in the world
Singapore jumped a notch in the latest survey of the most expensive retail markets conducted by the property firm CB Richard Ellis (CBRE). Prime retail rents in Singapore ranked as the 18th most expensive around the world in Q3 2009, up from the 19th spot in the previous quarter.Sydney surpassed...
Continue Reading • 1 Dec 2009
Affordability remains a key factor in purchasing property
The rising housing prices and upturn in the economy makes 34-year-old communications manager Lisa Low worried. She fears that when she finally finds her dream home, she may not have enough money for the cash-over-valuation (COV) that resale unit buyers must pay."Is there such...
Continue Reading • 1 Dec 2009
Two Singapore casinos will have Las Vegas flavour
The world’s newest casino will be opening in Singapore but a Las Vegas gaming company will be the centre of the competition.Experts said that Marina Bay Sands will likely be the more visible and enduring property of the two that will open by Q1 2010.Singapore has reversed a 40-year ban on...
Continue Reading • 30 Nov 2009