Generate Profit on Asian Property Investments Now
According to Matt Nacard, Property Research Head at Macquarie Securities’ Asia, now is the perfect time to generate profit on property investments, particularly across Asia, where governments are finding measures to pacify the current situation in the market.“Basically, it doesn't get...
Continue Reading • 21 Oct 2009
Smaller Units Becoming the Latest Trend
Property players are keen in offering smaller housing units nowadays.This trend originated in the mid-tier and mass-market projects. However, development projects in downtown areas such as One Shenton, Icon and Sail@Marina Bay have also built room units smaller than 700 sq. ft.Executive Director...
Continue Reading • 21 Oct 2009
Low sales for private home
Private homes sales plunged for the previous month with only 131 new private units sold, down from the 193 units sold last November. The fall capped the toughest year for the new sales all over the island since 1990.The previous year only had 4,287 units sold, which had been a remarkable...
Continue Reading • 21 Oct 2009
Home buyers prefer ‘mickey mouse' flats
The project Suites@Guillemard recently put up a sale of apartments of different sizes, which included units covering 258 square feet and an area equivalent to 21/2 car park lots. Offered units were priced at $1,450 per square foot or $374,000. These are the smallest private apartments in...
Continue Reading • 21 Oct 2009
Class-A Housing Project Prices Plunge
Looking closely at the data prepared by Credo Real Estate, it has stated that the common prices of high-end housing projects have greatly declined compared to the suburban condo rates between the latter parts of 2007 and 2008 over the same period.Credo's reports claimed that average prices of...
Continue Reading • 21 Oct 2009
Gov’t Halts Selling of Industrial Lands
Amid the economic downturn, selling of government-owned industrial lands will temporarily be suspended until the first half of 2009 as part of the austerity measure to combat financial uncertainty. Only those in the reserve list will be allowed for sale. These will be made available if ever...
Continue Reading • 21 Oct 2009
Savills Predicts Luxury Home Rates Drop
Rates on super luxury homes as well as high-end units are expected to drop more than 20 percent in the next five quarters, according to Savills Singapore. The firm also added that declines of 12 percent and 14.3 percent on the respective segments would eventually follow in the first three...
Continue Reading • 21 Oct 2009
Two sites for sale despite economic crunch
The Urban Development Authority (URA) is braving out against the weak market as they offer two 99-year leasehold sites—residential and commercial-residential.These sites are in the reserve list, which means that they will only be sold out if developers show interest to buy them. However,...
Continue Reading • 21 Oct 2009
Developers hope for policy changes from government
Property industry players hope that the government might reconsider changing some of its property policies. These policies were made two years ago, which then go beyond the usual exemptions and rebates on property taxes with its off-budget/budget packages.This demand was seen necessary to aid the...
Continue Reading • 21 Oct 2009
Property fund index pushes national indices
The Investment Property Databank (IPD) is asking for support from Singapore property fund managers to develop a national index. IPD is a global provider for real estate investment indices.“An IPD Singapore Index would bring an internationally recognised property benchmark to the regional...
Continue Reading • 21 Oct 2009
Name Suggestions for Marina Bay Attractions, Open to Public
The Urban Redevelopment Authority (URA) is asking from the public for recommendations and suggestions for names of the new Marina Bay Bridge and park. This park features the theme “Aspirations for life in Singapore” that is a collection of the artworks of 27 youths.Some names that...
Continue Reading • 21 Oct 2009
Residential Property Launches On hold
Because of the market gloom, Singapore is not likely to see major launches for residential property for the rest of 2008. Buyers are staying away thus making developers hold back their launches. However, industry experts suggest that by early next year, launches with attractive prices will come...
Continue Reading • 21 Oct 2009
URA adds Bukit site to reserve-list hotel
The Urban Redevelopment Authority (URA) has added a hotel site to its reserve list. Located in Bukit Chermin in the vicinity of Keppel Club and the Reflections at Keppel Bay project, the site can generate 50-70 hotel rooms. The property had been on the 2008 confirmed list but was placed in the...
Continue Reading • 21 Oct 2009
Bukit site opened for hotel developers
The Urban Redevelopment Authority (URA) placed a 3ha site in Bukit Chermin into a reserve list of commercial space despite the poor condition of the real estate sector. The site can generate a maximum floor area of 10,000 square meters.URA says it will be developed into a distinctive lifestyle...
Continue Reading • 21 Oct 2009
Charter hotel to rise in Katong
Santa United International Holdings will turn a pre-war residential complex into a charter hotel aimed at tourists and businessmen. The property, which comprises of nine shophouses, is located in Katong along the East Coast Road in the Pernakan enclave. The $12 million project will begin in early...
Continue Reading • 21 Oct 2009
What is a Grade an Office Space?
Office buildings are categorized based on a combination of physical characteristics and location. Grade-B and C buildings are always classified according to the qualities of Grade-A buildings. Indeed, no formula can be devised to categorise buildings into classes; judgment unfortunately is always...
Continue Reading • 21 Oct 2009
The Orchard Scotts Experience
Orchard Scotts has recently placed a 16-seater dining room exclusively for its guests.Not to be confused with function rooms found in other lesser condominiums, the new dining room is very different with its 52-inch LCD TV embedded in a granite wall and a cordon bleu coffee machine built into...
Continue Reading • 21 Oct 2009
Property writedown affects future profits
As small home developers starts to cut prices, other property groups become pressured to make writedowns too. This will cut bottom lines, which have already begun to fall in the newest quarterly reports. Way back in 2001, CapitaLand and Keppel Land had real estate projects with breakeven costs...
Continue Reading • 21 Oct 2009
Credit tightens as prices fall
As property prices start to fall, home loans became more difficult to acquire. When value of properties fall down, credit is harder to get as banks and other financial institutions tighten their credit machinery.Banks grant only 90 percent of the value of the property or its selling price,...
Continue Reading • 21 Oct 2009
Market Gloom Ignored Over Condo Launch
El Development is rolling out its condominium launch of the 200-unit Rosewood Suites, a 99-year leasehold located in Woodlands, this weekend. This is a rare and optimistic launch as the property market proves to be gloomy these days. The developer is hoping that discounted prices will draw...
Continue Reading • 21 Oct 2009