Asian property markets fear a real estate bubble
Growing prices of residential properties in Asia may cause mini real estate bubbles and stimulus packages from governments may be pulled out to cool down the market. Finance ministries and central banks in several countries like Singapore and China are discussing and setting up measures to...
Continue Reading • 10 Nov 2009
MCL and Ho Bee sell 51 units at Parvis condo
MCL Land and Ho Bee Investment last week sold a total of 51 units at their Parvis condominium located at Holland Hill at an average price of $1,480 per sq ft (psf).What happened at Parvis was far from the recent trend, wherein the smallest units of a certain project are sold out first. At Parvis,...
Continue Reading • 10 Nov 2009
Foreign buyers stream back to private home market
A growing number of foreigners, particularly those from China are streaming back into the private home market.Recent research conducted by Savills Singapore, a property consultancy, showed that foreign buyers accounted for 22.7 percent of private home sales in the third quarter. The...
Continue Reading • 9 Nov 2009
AEW to deploy around $1 billion to Asian property
AEW Capital Management, a $43 billion real estate investment manager of listed securities and real estate private equity, is on the process of deploying a PE fund worth $560 million, targeting Asian property. With leverage, the firm which is based in Massachusetts can deal out around $1 billion...
Continue Reading • 6 Nov 2009
MCL, Ho Bee to launch Parvis condo
As other property developers deliberate if they will launch new projects this year or hold back until next year, MCL Land and Ho Bee have already decided to launch their newest project, Parvis condo located at Holland Hill.According to a property consultant, the selling price for the units is...
Continue Reading • 6 Nov 2009
Difference in the two home sale booms
This year, property developers are set to duplicate their sales records from 2007.However, as of now the total value of new private homes is just half of that in 2007, emphasizing the difference between the two property booms.The shift is partly due to a dramatic increase in sales of smaller,...
Continue Reading • 5 Nov 2009
Home sales slow down in October
There has not been much activity in the private property market in October compared to other months.In the first nine days of October, approximately 350 private homes were sold - far less than September's sales.The pace of buying did not seem to have picked up even for the succeeding weeks of the...
Continue Reading • 4 Nov 2009
Strata units, site at Thomson Village up for en bloc sale
The owners of a vacant site and eight freehold strata-titled commercial units located at Thomson Village have collaborated to sell their properties through a bid, with an asking price of $24 million. The properties have a total site area of 13,387 sq ft. The vacant site is zoned for...
Continue Reading • 30 Oct 2009
URA to Release Tender for an Industrial Site
The Urban Redevelopment Authority (URA) will release a tender for an industrial site situated at the corner of Soon Lee Drive and Pioneer Road North. The land parcel, which has a 30-year lease period and a site area of 1.9 hectares, was formerly included in the reserve list system.Based on the...
Continue Reading • 30 Oct 2009
Ascott REIT’s Distribution Drops 25% in Q3
Ascott Residence Trust (Ascott REIT) said the unit-holders' distribution in the third-quarter dropped 25 percent to $11.8 million from $15.9 million in the previous year, as demands for serviced residences in China and Singapore weakened.The distribution per unit (DPU) was 1.92 cents in the third...
Continue Reading • 30 Oct 2009
Reserved Landed Housing Site Now on Sale
Demands for residential land has spread to the landed sector from the non-landed sector. For the first time in 2009, a developer has initiated the sale of a government landed housing site and consultants expect to see extensive competition for the site. The 99-year leasehold site with 14,098.9...
Continue Reading • 29 Oct 2009
Marina Bay Financial Centre Due to Open Next Year
The Marina Bay Financial Centre mega project worth S$4-billion will push through despite the global financial downturn. In one year, phase one of Marina Bay Link Mall will be launched and ready for operation with tenants occupying the offices above.Raffles Quay Asset Management (RQAM) revealed...
Continue Reading • 29 Oct 2009
Asian Policymakers Act to Control Property Prices
Asian policymakers, in an effort to prevent the growing real-estate values in the region from leading to another mortgage bubble, are now acting to rein in property prices.Regulators in Hong Kong, South Korea and Singapore recently asked banks to tighten their lending standards. The central...
Continue Reading • 29 Oct 2009
Singapore launches SE Asia’s first zero energy building
National Development Minister Mah Bow Tan launched the country’s first zero energy building (ZEB) yesterday during the opening of Singapore Green Building Week.The ZEB, the first building of its kind in Southeast Asia that costs $11 million to retrofit, is located within the Building and...
Continue Reading • 28 Oct 2009
Advanced design planned for Hong Leong’s new project
Hong Leong Holdings, after having recently won a site along Serangoon Avenue 3 in a hotly contested government tender, said that it is planning to build a unique project on the site with over 400 units.The developer is now completing the project plan and said that it will be “cutting...
Continue Reading • 28 Oct 2009
Developers meet with valuers to seek for similar ground
Singapore developers held a meeting with valuers the previous week amid the recent complaints regarding the conservative valuations, which have derailed home sale transactions as prospective home buyers failed to secure from banks the required loan quantum.BT understands that developers are not...
Continue Reading • 27 Oct 2009
$158m freehold condo site sold
Lee Tat Development has sold a 207,000 square feet plot for $158 million, making it one of the largest freehold condo site deals in the last 12 months.The said plot, which is located at the end of Lengkong Tujoh and Jalan Senang, was purchased through a joint venture transaction with Hoi Hup and...
Continue Reading • 27 Oct 2009
Singapore property investors remain strong
Residential and commercial property sectors in Singapore are still attractive to several medium- to long-term investors.Property observers see Singapore’s commercial status as one of the international financial hub. Despite this year's difficult times for all marketing sectors, market...
Continue Reading • 27 Oct 2009
Sub-sales drop to the lowest level
Despite the price inflations in the third quarter, speculative activity in the private housing market during the same period dropped to its lowest level in the last two years. Urban Redevelopment Authority (URA) data showed yesterday that the number of sub-sale transactions fell by nearly 20...
Continue Reading • 27 Oct 2009
OUE: Good transaction for The Parisian condo
The Parisian condominium located at Angullia Park is going to change hands again after less than three years when it was collectively sold, but this time at a much higher price.The Overseas Union Enterprise (OUE) purchased the freehold site in December 2006 for $228.1 million, and resold it for...
Continue Reading • 27 Oct 2009