Local buyers fire up luxury home sales
By Romesh Navaratnarajah:Singaporean buyers of luxury homes so far this year have surpassed the total number of similar transactions recorded for the entire 2011, according to The Business Times.A report by DTZ revealed that 46 luxury homes were acquired by Singaporeans year-to-date, exceeding...
Continue Reading • 26 Sept 2012
URA awards tender for two residential sites
By Romesh Navaratnarajah:The tender for two 99-year leasehold residential sites at Dairy Farm Road and Prince Charles Crescent (pictured) were awarded to the developers who submitted the highest bids, according to the Urban Redevelopment Authority (URA).The Dairy Farm Road site was awarded to a...
Continue Reading • 26 Sept 2012
ABSD boosts taxman's collection
By Romesh Navaratnarajah:Over half a billion dollars was collected by the taxman from additional stamp duties for property purchases, of which S$450 million came from the additional buyer’s stamp duty (ABSD) introduced last December, according to the Inland Revenue Authority of Singapore...
Continue Reading • 26 Sept 2012
Heron Bay one of most popular ECs in recent times
By Romesh Navaratnarajah:A total of 1,664 e-applications were lodged for 394 units at Heron Bay (pictured) in just one week, according to The Business Times. Located at Upper Serangoon View, the executive condominium (EC) project now has one of the highest subscription rates in the last few...
Continue Reading • 25 Sept 2012
From home to boat
By Romesh Navaratnarajah: In Singapore, where housing prices are still sky-high and foreign property buyers have to pay 10 percent additional buyer’s stamp duty (ABSD), a growing number of locals and expatriates and are looking for alternative housing options such as living on a boat.Apart...
Continue Reading • 24 Sept 2012
Thomson Line spells boom for nearby properties
By Romesh Navaratnarajah:Singapore’s upcoming Thomson MRT Line (TSL) is expected to boost housing prices in nearby projects. In particular, older condo projects directly opposite Sin Ming station could see hefty price gains, according to MayBank KimEng Research.Faber Garden Condominium and...
Continue Reading • 24 Sept 2012
One Dusun Residences dominates August sales
By Romesh Navaratnarajah:One Dusun Residences (pictured) off Balestier Road topped the list of best-selling projects in August, according to OrangeTee Research. In a Singapore Business Review report, OrangeTee noted that 99 percent or 153 of the 154 units at the project were sold at a median...
Continue Reading • 24 Sept 2012
70 units snapped up at Gambir Ridge preview
By Romesh Navaratnarajah:Gambir Ridge (pictured), a new freehold condominium at Bartley Road, saw strong take-up at its preview last Friday, with around 90 percent or 70 of the 77 units available snapped up by buyers, according to The Business Times. Comprising one- to four-bedders, the units...
Continue Reading • 24 Sept 2012
eCO a hit with buyers
By Romesh Navaratnarajah:Of the 262 units released at the 99-year leasehold eCO (pictured) in Bedok South Avenue 3, over 220 were snapped up on the first day of its preview, according to The Business Times. Units at the 748-unit development were selling at S$1,250 psf on average, said marketing...
Continue Reading • 21 Sept 2012
Prince Charles Crescent site attracts 8 bids
By Romesh Navaratnarajah:A residential site at Prince Charles Crescent (pictured) slated for development of condominiums or flats received a total of eight bids when its tender closed yesterday, said the Urban Redevelopment Authority (URA). Launched for sale by public tender on 23 August, the...
Continue Reading • 21 Sept 2012
Saga over S$20 million bungalow continues
By Romesh Navaratnarajah:Singapore’s High Court yesterday ruled that 88-year old Chan Yuen Lan is mentally fit to make personal decisions in her suit over a S$20 million bungalow disputed by her husband, See Fong Mun, reported AsiaOne. “I've seen witnesses who are younger than this...
Continue Reading • 20 Sept 2012
URA launches tenders for two sites
By Romesh Navaratnarajah:Two reserve list sites in Jurong, one residential and the other a hotel site were launched for sale by the Urban Redevelopment Authority (URA) yesterday. Zoned for residential use, the first site at Jalan Jurong Kechil (pictured) has a land area of around 1.02-ha and a...
Continue Reading • 20 Sept 2012
Foreign home buying sees slight increase in Q2
By Romesh Navaratnarajah:The number of expatriates, including non-permanent residents (NPRs) and permanent residents (PRs) buying private properties in Singapore, inched up to 22 percent in the second quarter of this year from 21 percent previously, Knight Frank said. However, this figure...
Continue Reading • 20 Sept 2012
How eco-friendly is eCO?
By Romesh Navaratnarajah: The 748-unit eCO development (pictured), the first private residential project to be launched in the Bedok South area after 30 years, has seen strong interest ahead of its official launch, with close to 600 registrations of interest. Developed by a consortium comprising...
Continue Reading • 19 Sept 2012
A new era for Raffles Place
By Romesh Navaratnarajah:The new 38-storey One Raffles Place Tower Two (pictured) ushers in a new era for Singapore’s central business district (CBD), said Deputy Prime Minister and Minister for Finance, Tharman Shanmugaratnam. “The opening of Tower Two reflects the confidence...
Continue Reading • 19 Sept 2012
EC entices buyers with classy facilities
By Romesh Navaratnarajah:To attract more buyers, the 394-unit Heron Bay executive condominium (EC) project along Upper Serangoon View (pictured) will integrate luxurious features into its homes. “We are introducing a premium class EC with a number of luxury condominium features, as well as...
Continue Reading • 19 Sept 2012
New shoebox ruling won't hurt developer
By Romesh Navaratnarajah: Following new rules by the Urban Redevelopment Authority (URA) capping the number of small units allowed in non-landed private developments outside the Central Area, existing shoebox units will likely benefit from the limited supply ahead, according to OCBC. “We...
Continue Reading • 19 Sept 2012
Property auctions rebound during Ghost Month
By Romesh Navaratnarajah: Despite the Hungry Ghost Month which is traditionally seen as an inauspicious period, the property auction market has achieved its highest sales value in three years, with four properties sold totalling S$10.35 million. The high sales value was mainly attributed to the...
Continue Reading • 19 Sept 2012
China home buyers still eyeing Singapore
By Romesh Navaratnarajah: Chinese buyers have shown renewed interest in Singapore properties especially as Hong Kong tries to limit foreign homeownership, particularly from the mainland. “Singapore remains a choice locale for property investments, especially when the Singapore dollar looks...
Continue Reading • 19 Sept 2012
Sufficient amenities to serve new housing supply
By Romesh Navaratnarajah: A possible housing oversupply could take place as a large pipeline of residential units are expected in various neighbourhoods, but analysts believe there will be enough amenities to serve the new developments, according to The Business Times. In Pasir Ris, there...
Continue Reading • 19 Sept 2012