Airbase redevelopment raises excitement
The plan to relocate Paya Lebar Air Base to Changi East has excited property players, as they look at options to redevelop the 800ha of land to be freed up, media reports stated. “Developers and property consultancies will be studying the land use and plot ratio of available lots in the...
Continue Reading • 22 Aug 2013
Sports stars selling million dollar homes
Filipino boxing superstar Manny "Pacman" Pacquiao has listed his California mansion (pictured) for US$2.7 million (S$3.5 million), according to media reports.Located at Hancock Park in Los Angeles, the two-storey house which was once featured on MTV Cribs, has five bedrooms and 5.5...
Continue Reading • 22 Aug 2013
GIC in talks for London complex, say reports
US-based private equity firm Blackstone Group is reportedly in talks to sell its stake in London's Broadgate office and retail complex (pictured) to Singapore investment company GIC for ₤1.7 billion (S$3.4 billion), stated media reports.The property is located on a 30-acre site in the city's...
Continue Reading • 22 Aug 2013
Fire at condo site forces 150 to evacuate
A fire broke out yesterday at a construction site along Meyer Road, where a 31-storey condominium project is being built, media reports said. David Lau, safety coordinator for the work site, said workers were seen running from the area at around 3pm when black smoke started coming out from...
Continue Reading • 22 Aug 2013
Mixed views on PM's housing promise
Although universally praised by experts in the industry, Prime Minister Lee Hsien Loong’s promise to make housing affordable to all working Singaporeans, especially middle-income households, drew mixed reactions from several professionals.In his National Day Rally speech last Sunday, PM Lee...
Continue Reading • 22 Aug 2013
S'pore property won't crash on US monetary stimulus concerns
The reported tapering in the US monetary stimulus is unlikely to significantly impact property prices in Singapore, analysts have said. “It usually comes down because of distressed selling. But economic growth is stronger than expected. People are keeping their jobs...Even if it comes down,...
Continue Reading • 22 Aug 2013
TDSR pushing buyers to EC market
With stricter loan requirements set for private property, many buyers are now finding cheaper alternatives in the executive condominium (EC) market, media reports said. The shift is mainly due to the introduction of the Total Debt Servicing Ratio (TDSR) framework, which covers a borrower's...
Continue Reading • 21 Aug 2013
Set income cap for housing grants, say experts
Several consultants believe that the new housing grants announced by Prime Minister Lee Hsien Loong in his recent National Day Rally speech should come with an income ceiling limiting them to only lower-middle income buyers, media reports said.According to Nicholas Mak, Research Head for SLP...
Continue Reading • 21 Aug 2013
Albedo moves into property, buys 762 acres in Iskandar
Singapore-listed Albedo is looking to move into property development after securing a deal to buy 762 acres of land in Iskandar Malaysia. The steel and raw materials trader signed a non-binding framework agreement or memorandum of understanding (MOU) with Temasya Cergas for an...
Continue Reading • 21 Aug 2013
HK cooling measures here to stay
The Hong Kong government is unlikely to relax its market cooling measures unless property prices decline further, analysts said.“We are only likely to see some relaxation in the measures once home prices have fallen by 15 to 20 percent - and even then the administration will be careful...
Continue Reading • 21 Aug 2013
Home sales slump may be a blessing: KOP
The recent slump in sales of new private homes could be a blessing in disguise, according to Singapore-based developer KOP Properties.Transaction volumes in July fell a whopping 73 percent to just 481 units from the month before, revealed data from the Urban Redevelopment Authority (URA). This is...
Continue Reading • 21 Aug 2013
Luxury home prices may fall 6%: report
Singapore’s primary housing markets will see prices decline in the next 12 months due to a combination of higher mortgage rates and recent government policies, revealed a Jones Lang LaSalle report.The luxury prime market could witness a four to six percent price fall, while the typical...
Continue Reading • 21 Aug 2013
Analysts: New housing grants the right move
The new housing grants announced by Prime Minister Lee Hsien Loong in his National Day Rally speech on Sunday are a move in the right direction, consultants said. However, they differ on whether or not these grants will affect the wider market, local media reported. Among the measures was the...
Continue Reading • 20 Aug 2013
RV Residences launch this week
Allgreen Properties is expected to launch sales of condo units at RV Residences this week, with around 50 to 80 units being released initially, media reports said.The seven-storey development comprises 248 units with a mix of housing types from one-bedroom apartments to five-bedroom...
Continue Reading • 20 Aug 2013
NParks recognises 9 developments for greenery
Singapore’s National Parks Board (NParks) has recognised nine local developments for greenery and incorporating nature into their designs, under a new scheme. The Landscape Excellence Assessment Framework (LEAF) scheme is the first and only one in the country and assesses developments...
Continue Reading • 20 Aug 2013
Lush Acres exec condo 76% sold
The 380-unit Lush Acres executive condominium (EC) project in Sengkang has sold 289 of its units, or 76 percent over the weekend after bookings opened on Saturday. Developed by City Developments Limited (CDL), the EC comprises four 25-storey towers featuring three- to five-bedroom...
Continue Reading • 20 Aug 2013
Aljunied residential block on the market
The 99-year leasehold Avant at Aljunied (pictured) is up for sale by an expression of interest (EOI) exercise, revealed marketing agent CBRE.The residential block has a guide price of between S$42 million to S$44 million, which translates to around S$1,394 psf to S$1,461 psf on its gross floor...
Continue Reading • 20 Aug 2013
Coastal EC draws record number of applicants
Sea Horizon, the fifth executive condominium (EC) launched this year, ended its e-applications on Sunday with over 1,500 applications received, or more than three times subscribed. The 495-unit EC is believed to have achieved the highest number of applications for the year to date after...
Continue Reading • 19 Aug 2013
S'pore tycoon acquires stake in Australian aged care provider
Singapore-listed investment firm GK Goh Holdings has acquired close to a 50 percent stake in Domain Principal Group, Australia’s third largest residential aged-care provider.The 47.62 percent equity share was sold by two trusts run by AMP Capital for A$136.7 million (S$160 million).The deal...
Continue Reading • 19 Aug 2013
Harbour View Gardens sale hits brick wall
A Singapore court has thrown out an appeal filed by a group of consenting owners on the proposed S$33 million collective sale of Harbour View Gardens (pictured) in Pasir Panjang Road, media reports said. The decision upholds a previous High Court ruling by Justice Belinda Ang in April,...
Continue Reading • 19 Aug 2013