Heartland condos selling at more than $1,000 psf
The 99-year leasehold condominium project called The Vission, which is located in the quiet suburbs of West Coast Crescent, was launched at a whopping price of between $1,000 to $1,200 psf.However, at least 160 buyers laid down their money for the mass market project that comes with quality...
Continue Reading • 22 Mar 2010
Singapore investors eyeing foreign properties
The property trends amongst Singapore investors seems to have spread to the overseas market recently. The favourable exchange rates and the forecasted high rental yields, as well as the lure of owning luxury properties in cities like New York and London have attracted local property investors to...
Continue Reading • 22 Mar 2010
Universal Studios theme park opens in Singapore
The first Universal Studios theme park in Southeast Asia opened its doors to enthusiastic visitors in Singapore on Thursday.Hundreds of visitors, including foreigners, lined up to be among the first into the 20-hectare (50-acre) movie theme park in Singapore, which is part of the US$4.4-billion...
Continue Reading • 19 Mar 2010
Condo project in Shenton Way a hit
Although the preview will not be until next week, buyers are already showing great interest in 76 Shenton, a condominium project located in Singapore’s Central Business District.According to a source, several property agents are now collecting cheques from buyers for the 99-year leasehold...
Continue Reading • 19 Mar 2010
S-REITs weighed down by property supply and modest economic recovery
Singapore real estate investment trusts (S-REITs) are likely to suffer from modest economic growth and a greater supply of new commercial properties, said the ratings agency Moody’s.According to Moody’s latest report, it expects the fundamental prospects for the sector to remain...
Continue Reading • 19 Mar 2010
Credo Real Estate puts Culford Garden up for tender
Credo Real Estate, a property consultancy firm, has put Culford Garden at Siglap up for tender, with an asking price ranging between $37 million and $40 million.At that price, each unit owner can expect to yield between $1.54 million to $1.66 million from the collective deal.With a land area of...
Continue Reading • 18 Mar 2010
Two property owners hope to fetch $30m for adjacent bungalows
Two owners of adjacent bungalows in the Mountbatten area have jointly put their properties up for sale, hoping to fetch some $30 million.According to Cushman & Wakefield, a property consultancy firm, the freehold units at 6 and 8 Margate Road have a combined land area of 24,000 sq ft.The...
Continue Reading • 18 Mar 2010
Property developer offers to absorb stamp duty
The property fever may not have cooled down yet, but one real estate developer in the country is offering an incentive, which has not been seen in over a year, to boost sales and attract buyers.The stamp duty absorption, which is usually used by wary developers during a market downturn, is now...
Continue Reading • 18 Mar 2010
Private home transactions up 130%
Private home transactions for both new and resale homes surged more than 130 percent in 2009, despite the economic downturn. Singaporeans were likely the main drivers for the increase. An increase of about 144 percent or 23,516 private home transactions were made by Singaporeans last year,...
Continue Reading • 18 Mar 2010
Former Alkaff Mansion put up for tender
The Singapore Land Authority (SLA) has launched a tender for the former Alkaff Mansion.The site near Mount Faber can be leased for the following uses – as a restaurant, spa, art gallery or museum.SLA will issue an initial three-year tenancy term, which is renewable for another two terms of...
Continue Reading • 17 Mar 2010
Private home sales in February down by 19%
Private home sales for February kept up their momentum, with 1,196 units changing hands. This figure is down by 19 percent (or some 280 units) from January, when the increase in transactions prompted the Singapore government to come up with more anti-speculative measures. However,...
Continue Reading • 16 Mar 2010
Asian REITs may return to pre-crisis highs by end of 2011
According to market experts, Asian real estate investment trusts (REITs) are expected to take one or two years to yield back to the pre-global financial crisis market capitalisation peaks.They expect a robust rebound in REITs in the second half of 2010, particularly from the industrial...
Continue Reading • 16 Mar 2010
100 units sold out at The Vision's phase one launch
Property developer Cheung Kong has set another record selling price for a residential project located in the West Coast area.The HK developer was able to sell the entire 100 released units in the first phase of sale for the 99-year leasehold project – The Vision. Out of the total number of...
Continue Reading • 15 Mar 2010
More executive condos to be built in 2010
Minister for National Development, Mr. Mah Bow Tan, has said that more executive condominiums (ECs) will be built this year in order to meet the “sandwiched group’s” housing needs.This group pertains to couples who are not qualified to avail for new HDB flats because their...
Continue Reading • 15 Mar 2010
Cheung Kong to launch luxury condo at West Coast
Cheung Kong, a Hong Kong property developer, is set to launch a luxury condominium at West Coast.With an expected recovery in the leasing market and demand from expatriates, it remains upbeat for the high-end residential property segment.This latest development by Cheung Kong is expected to stand...
Continue Reading • 11 Mar 2010
Park Hotel Group's Grand Park Orchard set to open in July
Grand Park Orchard, a flagship property of Park Hotel Group, is set to open in July after an $80-million makeover. The five-star 308-room hotel located at Orchard Road was formerly known as Park Hotel Orchard. Room rates are expected to be about $350 per night.With its eight-storey-tall media...
Continue Reading • 11 Mar 2010
Average home transactions in the high-end market rose to $1.78 million
As property developers launched more upmarket projects, the average private home transaction value sold in the market rose to $1.78 million per unit in the first two months of 2010, according to a study conducted by CB Richard Ellis.This is higher by 37 percent than the $1.3 million average price...
Continue Reading • 10 Mar 2010
RWS prepares for possible glitches at Universal Studios' soft opening
Resorts World Sentosa (RWS) has announced that the soft opening of Universal Studios Singapore (USS) will be on March 18. However, it is unclear how many attractions will be operational by that time.In a statement released on Friday, RWS said: “It is possible that certain attractions may...
Continue Reading • 8 Mar 2010
The Ascott set to open second Citadines property in Japan
The Ascott, a wholly-owned serviced residence business unit of CapitaLand, is set to open its second Citadines property in Japan on March 8.The launch of the new Citadines Kyoto Karasuma-Gojo follows the successful opening of Citadines Tokyo Shinjuku, the first Citadines serviced residence unit...
Continue Reading • 5 Mar 2010
Prices of new luxury homes increase
Prices of new luxury home projects rose by 20-25 percent in 2009 and this could increase further by 10-15 percent this year, according to CB Richard Ellis.Meanwhile, rents of newly completed luxury homes, which declined 10.5 percent last year, could increase by 5-10 percent this year, said the...
Continue Reading • 4 Mar 2010