Versailles condo up for collective sale
By Nikki De Guzman:The freehold Versailles (pictured), a 55-unit residential development has been launched for collective sale, according to Jones Lang LaSalle (JLL).Located near the Paya Lebar and Dakota MRT stations, the property has a land area of around 53,073 sq ft and potential gross floor...
Continue Reading • 25 Apr 2013
CEA "aware" of under-the-radar property sales
By Andrew Batt: More than two years after the formation of the Council for Estate Agencies (CEA) with the aim of regulating the buying and selling of property in the city state, a number of unlicensed real estate agents are continuing to sell overseas property to local buyers in direct breach of...
Continue Reading • 24 Apr 2013
Hong Leong's properties in China safe
By Shabnam Muzammil:Hong Leong Group has reported that their properties in China were not affected by the 7.0 magnitude earthquake that hit Lushan in Sichuan last week.However, tremors were felt at the Hotel Chengdu, a Millennium & Copthorne (M&C) hotel, although there was no damage to...
Continue Reading • 24 Apr 2013
Kim Tian Road site awarded to Harvestland Development
By Shabnam Muzammil:The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Kim Tian Road (pictured) to Harvestland Development, after the company submitted the highest bid of S$550.28 million or S$12,517 psm.Offered on a 99-year lease term, the land parcel has...
Continue Reading • 24 Apr 2013
Private home sales in Q1 sets new record: report
By Nikki De Guzman:2,793 units were sold in March, nearly four times more than the 712 units snapped up in February, according to Knight Frank’s residential bulletin for Q1 2013. It also set a new record-high, surpassing the previous peak of 2,772 units in July 2009.The overall new sales...
Continue Reading • 24 Apr 2013
Foreign interest up for private property
By Shabnam Muzammil:Foreign demand for private homes in Singapore increased 40 percent with 523 units purchased during the first quarter of 2013 compared to the 373 sold during the same period last year, although the figures are still below levels seen before the introduction of the additional...
Continue Reading • 23 Apr 2013
New rules to reduce flooding
By Nikki De Guzman:To minimise the impact of flooding, PUB has introduced new measures into its revised Surface Water Drainage Code of Practice which takes effect from 1 June. Going forward, all new and redevelopment projects with a land area of 0.2ha and above will be required to control...
Continue Reading • 23 Apr 2013
Buyers snap up 44 units at Novena Regency
By Nikki De Guzman:Novena Regency (pictured), a new mixed-use development along Thomson Road has sold 44 residential and retail units within a week of its launch on 13 April, reported The Straits Times. Developed by Fragrance Realty, 72 units were released initially. The city fringe location and...
Continue Reading • 23 Apr 2013
Woodlands EC project oversubscribed 2.3 times
By Nikki De Guzman:Twin Fountains, a new executive condominium (EC) jointly developed by Frasers Centrepoint and Lum Chang, has received overwhelming response from buyers, with over 963 applications at the end of the e-application process yesterday. This means the project was 2.3 times...
Continue Reading • 22 Apr 2013
S'pore buyers splash cash on student property
By Andrew Batt: Singapore property buyers and investors were continuing to snap up student property investments at the latest property exhibition marketing this particular investment last weekend. Vita Student, a developer of high-end student properties in the north west of England, saw...
Continue Reading • 22 Apr 2013
RCs to undergo major image change
By Shabnam Muzammil:Residents’ Committees (RCs) islandwide will undergo large-scale restructuring to better represent the needs of their local communities, reported The Straits Times.Under this initiative, all 572 RCs will choose themes which reflect the demographic profile and interests of...
Continue Reading • 22 Apr 2013
No drop in overseas property interest
By Andrew Batt: Last weekend saw a record number of property exhibitions in Singapore, with more than 20 individual events showcasing overseas opportunities to local buyers. Property developments from Canada to the Philippines, and from Bangkok to Sydney, were exhibited at numerous events...
Continue Reading • 22 Apr 2013
Govt has no immediate plans for more cooling measures
By Romesh Navaratnarajah: Although property prices remain high, the government does not intend to introduce a new set of cooling measures for now as prices are moving the right way, it was reported in The Straits Times.“We’re not planning another round of measures, but it depends on...
Continue Reading • 19 Apr 2013
APEC warns against property bubble
By Nikki De Guzman:The Asia Pacific Economic Cooperation (APEC) Policy Support Unit is urging regional policymakers to implement measures to prevent asset bubbles as home and stock prices increased in some of its member countries due to speculative buying, its research arm said.“There are...
Continue Reading • 19 Apr 2013
KSH snags first China contract
By Nikki De Guzman:Listed construction group KSH Holdings, through its 50 percent owned Sino-Singapore unit, has received its first construction contract in China worth RMB157 million (S$31.24 million) for the Liang Jing Ming Ju Phase Four development in Beijing.Under the deal awarded by...
Continue Reading • 19 Apr 2013
Kim Tian Road site draws 11 bids
By Nikki De Guzman:The tender for a residential site (pictured) at Kim Tian Road closed yesterday with a total of 11 bids received, according to the Urban Redevelopment Authority (URA).Launched for sale on 28 February, the 99-year leasehold site has a land area of 10,990.6 sq m and a maximum...
Continue Reading • 19 Apr 2013
Canada project to exhibit in Singapore
By Andrew Batt: Fresh from the successful launch of its Chestermere Manor townhouses in Calgary, Canada where 95 percent of the units were sold, Vision International Properties is in Singapore this weekend for the launch of Stony Plain Manor in Edmonton, Canada. The freehold three-storey...
Continue Reading • 19 Apr 2013
London property demand heats up
By Andrew Batt: The number of London properties being sold to Singaporean buyers and investors shows no signs of stopping as four more developments are set to be showcased in the city state this weekend.Putney Plaza (pictured) in the capital’s southwest is being exhibited by Knight Frank on...
Continue Reading • 19 Apr 2013
Keppel Land net profit dives 31.9%
By Shabnam Muzammil:Keppel Land posted a 31.9 percent drop in its net profit for Q1 2013 to S$96.6 million from S$141.9 million in the same period last year, while gross profit fell 15 percent to S$58.75 million from S$69 million seen in the first quarter of 2012. According to the developer, the...
Continue Reading • 18 Apr 2013
London home price gains unsustainable
By Shabnam Muzammil:The price increase of luxury residential properties in London over the last few years seems unsustainable according to Grosvenor Group, which owns most of the city’s upscale Mayfair and Belgravia districts.As investors look for refuge against the Eurozone debt crisis and...
Continue Reading • 18 Apr 2013