Long queue for CapitaLand's Bedok Residences
CapitaLand, Southeast Asia’s largest property developer, will only launch its latest condo project tomorrow, but a long queue has already started forming outside the project's showflat since Sunday.Located in Bedok Town Centre, Bedok Residences is part of a 15-storey integrated...
Continue Reading • 22 Nov 2011
S'pore home loans feel impact of cooling measures
The number of new housing loans and property deals in Singapore declined after the last round of cooling measures implemented in January this year, according to the Monetary Authority of Singapore (MAS).The MAS’ latest Financial Stability Review report showed that new housing loans dropped...
Continue Reading • 21 Nov 2011
Singapore economy rose 6.1% on manufacturing boom
Singapore’s economy is expected to grow by approximately five percent for the rest of 2011 and between one and three percent in 2012, in light of the uncertain global economy, according to the Ministry of Trade and Industry (MTI). In the three months leading to September, the economy grew...
Continue Reading • 21 Nov 2011
Unit at The Marq hits new price record
Once again, property developer SC Global Developments has set a new record price at The Marq on Paterson Hill, selling a 3,003 sq ft, four-bedroom apartment in the Premier Tower for about S$20.5 million (S$6,850 psf).This surpassed the previous record set in August for S$6,394 psf, which in turn...
Continue Reading • 21 Nov 2011
Rochor residents air grievances on eviction
Moulmein-Kallang MP Denise Phua has pledged to seek higher compensation for Rochor Centre residents set to be evicted in light of the North-South Expressway (NSE) project. More than 200 residents aired their grievances during the launch of an exhibition of the new flats being offered to them in...
Continue Reading • 21 Nov 2011
Waterfront destination officially opens in Punggol
Some 2,000 residents in Singapore’s north-eastern region visited the newly opened Punggol Point Park for the first time yesterday morning, officially launched by Deputy Prime Minister Teo Chee Hean.Located near Punggol jetty, Punggol Point Park comprises a children’s playground,...
Continue Reading • 21 Nov 2011
Pre-war flats at Tiong Bahru now cost S$1m
The days of good bargains in Tiong Bahru are over, as a 1,000 sq ft pre-war flat that cost around S$680,000 three years ago is now priced at around S$1 million.The significant price increase is primarily attributed to the transformation of the once-sleepy neighbourhood into a popular residential...
Continue Reading • 21 Nov 2011
CapitaLand to continue investing in China
Southeast Asia's largest property developer, CapitaLand, will continue to venture into China, despite the central government’s property cooling measures.Lim Ming Yan, CapitaLand’s Chief Operating Officer, said the company will maintain a balance between residential and commercial...
Continue Reading • 21 Nov 2011
New expressway may devalue nearby homes
Construction zones at the North-South Expressway (NSE) could harm rents and values of nearby properties during the building phase.The Straits Times noted that traffic diversions, noise and dust could devalue nearby properties by between three and five percent, as prospective buyers tend to avoid...
Continue Reading • 18 Nov 2011
S'pore developers bag international prizes at MIPIM Awards
Two local property developers have won international excellence awards in the recently concluded 2011 MIPIM Asia Awards, which recognises outstanding developments in the Asia Pacific region for their technical, innovative, environmental and architectural qualities.Far East Organization (FEO)...
Continue Reading • 18 Nov 2011
UK home buyers look to overcome deposit hurdle
Home buyers in the UK are taking on second jobs and additional loans to pay for deposits on properties.A Santander survey revealed that 28 percent of hopeful homeowners are taking on second jobs and working overtime to gather extra funds. It was recorded that another 27 percent of buyers are...
Continue Reading • 18 Nov 2011
Compensation claims for NSE works to start in December
Property owners whose properties will be affected by the new North-South Expressway (NSE) can start submitting their compensation claims in December.The majority of these owners are having their properties appraised ahead of the December meeting with the Singapore Land Authority (SLA).Industry...
Continue Reading • 18 Nov 2011
Dragon Mansion sold in collective sale for S$130m
Dragon Mansion, an 18-storey residential development at 14 Spottiswoode Park Road, has been sold to Spottiswoode Development Pte Ltd, a joint venture (JV) company between Lian Beng Group and Centurion Properties Pte Ltd, for S$130 million.Jones Lang LaSalle (JLL), which brokered the deal, said...
Continue Reading • 18 Nov 2011
Profitable director's appeal dismissed
An application by Geraldine Nordmann, a director of Profitable Plots Pte Ltd, for the return of her passport and permission to live in Malaysia was dismissed in Singapore’s Supreme Court earlier today. Mrs Nordmann, who had previously been allowed to travel to the United Kingdom to...
Continue Reading • 18 Nov 2011
Singapore, Malaysia seek new consultant for rail link
Singapore and Malaysia have agreed to appoint an architectural and engineering consultant for the Rapid Transit System (RTS) that will link Singapore with Johor Baru. The consultant will be tasked with evaluating the technical aspects of the RTS to develop a cost-effective and convenient...
Continue Reading • 17 Nov 2011
Govt to amend HDB balloting rules for second-timers
Balloting rules will be amended by the HDB to improve second-time buyers’ chances of acquiring new HDB flats.Minister of National Development Khaw Boon Wan mentioned in his blog that the review will take place towards the end of next year.“After we have cleared most of the first-timer...
Continue Reading • 17 Nov 2011
Coronation Grove re-launched for sale
Coronation Grove, a 24-unit walk-up apartment in District 10, has been re-launched for sale, with the owners having lowered their asking price.“After the last unsuccessful tender exercise called for in March 2011, the owners have agreed to lower their price expectations so that it is more...
Continue Reading • 17 Nov 2011
Second mortgages on the decline in S'pore
Latest figures from Credit Bureau Singapore (CBS) suggest that speculative investors intending to profit from the country’s residential market are cutting back on their purchases, in light of the government’s cooling measures.Gathered from a number of financial institutions, the...
Continue Reading • 17 Nov 2011
Ho Bee in no rush to pick land sites
Property development and investment company Ho Bee Investment is looking to pick new residential sites in Singapore within six to nine months’ time, according to The Business Times.“Right now, there is a lot of uncertainty; nobody can fathom what will happen in Europe or the US....
Continue Reading • 17 Nov 2011
1st-timers stand higher chance of getting flats
Newlyweds now stand a very high chance of getting a new flat, as the government has ramped up its construction programme and priority in treatment, said Minister of National Development, Khaw Boon Wan, on his latest blog.“Since I joined MND, HDB has launched 16,000 new flats. Excluding...
Continue Reading • 17 Nov 2011