Two properties offered to investment players
Two properties have been offered to players in the property investment sales market. One is a six-storey commercial property called Boon Building, located at 61 South Bridge Road, and an industrial site at Kaki Bukit Avenue 4, which can be found through the reserve list of the government.The site...
Continue Reading • 26 Nov 2009
Strong sales recorded at Marina Bay Suites preview
A one-day preview at the Marina Bay Suites project resulted in invited home buyers grabbing most of the 90 units released for sale at the average selling price, which ranges from $2,200 to $2,500 per square feet (psf).About 81 units were sold yesterday at the 221-unit, 99-year leasehold...
Continue Reading • 26 Nov 2009
Speculative activity fell in Q3, says DTZ
Property consultancy firm DTZ said yesterday that there was little speculative activity taking place in Q3 this year.In a report, DTZ said that the proportion of sub-sales declined 13 percent in the third quarter from 16 percent in the previous quarter.Sub-sales, which signify the re-sale...
Continue Reading • 25 Nov 2009
HDB upgraders sidelined as home prices surge
The number of HDB upgraders engaged in private home transactions has declined as property prices continue to increase and mass-market launches weaken.In contrast, private home dwellers are purchasing more homes as the economic condition improves, keeping the real estate industry afloat.Buyers...
Continue Reading • 24 Nov 2009
3rd attempt for Pine Grove owners to engage in en bloc sale
Several homeowners at the Pine Grove estate located along Ulu Pandan Road are on their third attempt since 2005 to sell their homes through an en bloc sale.The minimum reserve price for the 660-unit estate is $1.33 billion.Owners stand to pocket an average of $2 million per unit depending on...
Continue Reading • 24 Nov 2009
Subsales for Q2 and Q3 among the highest since 1995
The number of subsales in the second and third quarters of 2009 is among the six largest quarterly figures since 1995. This reflects the upsurge in the subsale activity, which led the Singapore government to announce measures on September 14 to control property prices.The completion of a number...
Continue Reading • 23 Nov 2009
Property agent doubles earnings in one month
About 5,719 privately-owned houses were sold in the third quarter, surpassing the previous record in the second quarter of 2007, which only reached 5,129 houses.Because of the new trend, many of the real estate agencies are showing a good performance and more people are getting into the real...
Continue Reading • 23 Nov 2009
Slide in commercial rents leveling off
The decline in prime office rents in Orchard Road, City Hall and Shenton Way are leveling off, going by mid-Q4 figures from Cushman & Wakefield.The property consultancy firm observed that the monthly prime office rents in the Shenton Way area dropped just 0.8 percent in the first...
Continue Reading • 20 Nov 2009
Assistance for cash-strapped residential buyers
Several developers consider giving payment extensions to home buyers when they encounter difficulty in paying up if the projects obtain Temporary Occupation Permit (TOP).Buyers on a Deferred Payment Scheme (DPS) will pay up a large piece of the selling price then.Developers may provide buyers...
Continue Reading • 19 Nov 2009
Feng shui masters predict 2009’s stock market
Unlike other traditional analysts in the stock market, who made 2008 all way wrong, predictions and methods of the masters for balance sheet and ratios on stock market are more serious and mysterious.“I can't really explain it to you, but I can show it to you. It's based on calculating and...
Continue Reading • 19 Nov 2009
More open spaces to be cultivated
Some cities around the world have managed to produce green lungs, which are converted to open spaces intended to serve as tranquil sites where people can unwind. Because of this achievement, Singapore should consider thinking resourceful methods for it to become a clean and green city, said...
Continue Reading • 19 Nov 2009
Scores of high-end condos remain unsold
Developers have launched 2,200-unit luxury projects between 2006 and 2008, but 55 percent of these units were not purchased in November 2008, said property consultancy firm CB Richard Ellis (CBRE).CBRE expects that luxury apartments/condos’ price will drop about 10 to 15 percent in the...
Continue Reading • 19 Nov 2009
Property investment sales plunge in Q4 ‘08
A DTZ report shows that property investment sales during the fourth quarter of 2008 plunged to its lowest level since 2003, with more players sidelining as credit tightened and prices weakened, The total transaction value was $352 million, a decrease of 74 percent from Q3 of 2008. As sales fall...
Continue Reading • 19 Nov 2009
Developers urge for provisions
Reports from Property Consultancy Groups show a decline in residential property values in Singapore, especially in last year’s high-end segment, which may continue up to this year. Consequently, listed property groups may encounter great pressure to create provisions and amendments for...
Continue Reading • 19 Nov 2009
Nova 88 showflat swarmed by visitors
Property hunters have decided to explore and purchase some fresh flats despite the low-spirited market.According to developer Roxy Homes, the new development called Nova 88 in Balestier, which seems to be the sole official launch thus far in 2009, saw an overwhelming amount of visitors during its...
Continue Reading • 19 Nov 2009
Hot bargains for house buyers
The property market is having a quiet start for 2009, with several developers now temporarily closing their flats in response to the decrease in the volume of customers.However, as the housing prices continue to fall, many house buyers are attracted back to the market and their shopping...
Continue Reading • 19 Nov 2009
New mass market projects approaching
Developers in Singapore intend to open additional mass market projects for the coming weekend in order to get the most of an increase in buying interest. The Beverly, an 118-unit project at Toh Tuck Road, is set to be launched by niche developer Hiap Hoe Group this Saturday. Hiap Hoe will be...
Continue Reading • 19 Nov 2009
Dwindling Asian REITs market capitalisation
A fall of around one-third was recorded in Asian real estate investment trusts’ (REITs) market capitalisation in the last two quarters in 2008 compared with the first two quarters, since REITs units' prices plummet and new listings run out.Data from CB Richard Ellis (CBRE) reveals that the...
Continue Reading • 19 Nov 2009
1000-unit mark in home sales hit
Developers managed to attain an 18-month high in private homes just over the span of one month. To this point, the 1,000-unit mark is already hit in February.Blessing continues to shower down upon nearly all of the developers who are willing to trim price prospects to affordable levels. Around 90...
Continue Reading • 19 Nov 2009
The seventh wonder of Sentosa
Capella Singapore, the latest luxurious hotel of Sentosa, will be opening next month. It will be the seventh hotel to be built in the island.Designed by Norman Foster, a British architect, this $400-million hotel is expected to be Sentosa’s main attraction, with its unique eight-shape...
Continue Reading • 19 Nov 2009