Decline in industrial property rental value
For four straight quarters in three months ended September, there was a marked decline in Private industrial property rents, although the pace of deterioration has already moderated.The monthly average gross rental value for first-storey private conventional industrial space is shown in the data...
Continue Reading • 1 Oct 2009
3 prime locations for landed homes
West Coast / Pasir PanjangThis area is not only near higher learning institutions like The National University of Singapore, it is also just a 15- to 20-minute drive away from the CBD.The opening of West Coast Plaza, VivoCity and other shopping malls added much life, vibrancy and vigor to this...
Continue Reading • 30 Sep 2009
Q3 private home sales may set record
Real estate adviser DTZ stated that this year’s private homes sales in Singapore are expected to exceed 2007’s record of 14,811 home units sold. The property consultancy firm said in a report that a "frenzied" activity level was seen in the property market in Q3 of 2009. The...
Continue Reading • 30 Sep 2009
Hundred Trees delivers as other projects falter
While the demand for units at several other developments appeared to waver, last week’s sales at Hundred Trees Condominium exceeded expectations by leaps and bounds as the West Coast condo sold an astonishing 316 units, about 25 percent of which were transacted under the interest absorption...
Continue Reading • 29 Sep 2009
CBRE raises 2009 forecast for total sales
Based on a new report, the large volume of good class bungalow (GCB) boosted the growth of the investment sales market during the third quarter of the year.CB Richard Ellis (CBRE) said in report yesterday that as far as this quarter, the total investment sales amounted to $3.28 billion, a growth...
Continue Reading • 29 Sep 2009
Immigrant influx and the property market
In the middle of debates regarding the condition of Singapore’s property market, a survey was conducted to shed light on why the city’s real estate industry bounced back much quicker than most analysts expected.The said survey was accredited and commissioned by the feedback unit of...
Continue Reading • 25 Sep 2009
CDL starts sale of Hundred Trees condo
According to reports, the City Development Limited (CDL) has already started the first phase sale of the Hundred Trees condo at a median price of $895 per sq ft (psf). The 956-year leasehold condo is located in the West Coast area with 100 pink mempat trees lining the walkways of the project....
Continue Reading • 25 Sep 2009
Meyer Place condominium up for collective sale
According to Cushman & Wakefield, the property consultants that are marketing the Meyer Place condominium located at the Meyer Road, the site should be sold for at least $65 million. Depending on the unit size, that would provide the 28 owners a sale price of $2.2 million–$3.3 million...
Continue Reading • 24 Sep 2009
New residential sites offer for developers
Developers, who were eager to acquire lands, were offered yesterday with two impressive residential sites. One of them is the 99-year leasehold plot that is located at Upper Thomson Road. This site is just opposite the Island Golf Course of Singapore Island Country Club, which shows off the views...
Continue Reading • 24 Sep 2009
Strong faith for mass market recovery
At present, the mass market projects, which have been laggards in the 2007 growth, are leading the recovery. Compared to 48 percent of transaction in H1 2009 intended for homes outside the central region (OCR), only 36 percent of private residential transactions in 2005 and 2006 were intended for...
Continue Reading • 24 Sep 2009
South Tower to be leased by AIG
In probably one of the bigger-scale office lease transactions in the past few months, American International Group, Inc. (AIG) is said to have completed transactions for the lease of five floors (approximately 60,000 square feet) at the newly built South Tower at 78 Shenton Way.Multinational real...
Continue Reading • 23 Sep 2009
Farrer Medical Centre up for lease
The new Medical suites at the forthcoming Farrer Medical Centre will also be open to retail investors, although with set limitations. It must be understood by the investors that the tenants that they will choose need to meet some professional standards that the medical board at the incorporated...
Continue Reading • 22 Sep 2009
St. Regis flat incurs largest loss
A flat at St. Regis Residences generated a staggering $5 million subsale loss, the most substantial this year thus far.On the flip side, a unit located at the same development chalked up the largest gain. In July, the flat at St. Regis’ fifth floor was transacted at $9.5 million, an...
Continue Reading • 22 Sep 2009
Sales of private homes stay strong
Despite the Government’s announcement last week of the measures to take the bubbles from the property market, the demand of consumers for private homes still remained strong.Property developers Hotel Properties and CapitaLand stated on Monday that 65 percent or 233 out of the 360 units at...
Continue Reading • 22 Sep 2009
Despite IAS ban, sales still solid at Interlace
The Singaporean Government's proclamation last week that bans the IAS or interest absorption scheme and Tuesday’s rowdy-to-say-the-least preview did little to weaken The Interlace’s sales.“We didn't expect the scrapping of the IAS to affect us very much, because a very small...
Continue Reading • 22 Sep 2009
2009: poorer profit in subsale market
This year proved to be tough for property speculators thus far. In the first eight months of 2009, around 341 subsales of apartments and condos incurred losses. This figure is approximately 4.5 times the number of incurred losses in 2008.In terms of percentage, this year’s numbers are...
Continue Reading • 22 Sep 2009
Prime state properties awarded to Pte sectors
On Wednesday, the two prime state properties, which have promoted Singapore’s heritage and arts scene, have been awarded to the private sector operators. The two sites, one near Dempsey and the other in the Bras Basah area, will host art facilities and integrated museum.Among the nine...
Continue Reading • 18 Sep 2009
Median Prices of New Leasehold Homes Sold 11.0 cent higher in Q3 compared to Q2 ‘09
Median prices of 99- year non- landed homes sold in the third quarter of this year have increased across the board – across new, resale and sub sale markets. CBRE’s analysis of caveats lodged show a double- digit increase of 11.0 cent in median prices of new homes, from...
Continue Reading • 17 Sep 2009
Q3 investment sales improve by 13 percent
Sentiment in the property market remains to be high as the preliminary data showed Q3 investment sales are 13 percent higher than Q2. Jones Lang LaSalle said yesterday that the data for Q3 indicates that the total for investment sales to date is $1.83 billion.Meanwhile, Colliers International...
Continue Reading • 17 Sep 2009
Median home prices increased in Q3
According to the analysis of CB Richard Ellis (CBRE) of the caveats data, the median price for new 99-year leasehold apartments and condos per square foot (psf) that were sold by the developers had an increased by 16.5 percent in the third quarter, which is more than twice the increase of 7.8...
Continue Reading • 17 Sep 2009