URA wants more time to review rules for property developers
The latest rules requiring property developers to be more transparent were expected to be in place by the end of this month.However, the Urban Redevelopment Authority (URA), says it needs more time to iron out the details for some of the proposals, after consulting with the industry. According to...
Continue Reading • 26 Sept 2011
CapitaLand wins big at 2011 Euromoney Awards
Southeast Asia’s largest real estate developer, CapitaLand, clinched nine awards at the 2011 Euromoney Real Estate Awards, including the Best Global Mixed-use Developer in Asia, for the second consecutive year.The company also scored a hat-trick, being named the Best Retail Developer in...
Continue Reading • 26 Sept 2011
Property investment sales down 55% in Q3
Property investment sales achieved approximately S$3.8 billion in the third quarter of this year, down 55 percent from S$8.5 billion in Q2, according to the latest figures from Savills Singapore.While the industrial sector dominated investment sales in Q3, the office and residential markets...
Continue Reading • 23 Sept 2011
URA to launch tender for hotel site at Bukit Merah
After receiving a committed minimum bid of S$98 million from an unnamed developer, the Urban Redevelopment Authority (URA) announced yesterday that it will put up a hotel site at Jalan Bukit Merah / Alexandra Road for sale through a public tender.The site was made available for sale through the...
Continue Reading • 23 Sept 2011
TA Corp submits prospectus to list on SGX
TA Corporation Ltd has lodged its preliminary initial public offering (IPO) with the Singapore Exchange, with China Construction Bank (CCB-Singapore) and United Overseas Bank Ltd (UOB) as underwriters. The construction and real estate development company submitted the IPO prospectus on 22...
Continue Reading • 23 Sept 2011
Singapore ranked 4th most costly city
Singapore has been ranked as the fourth most costly destination in Savills’ World Cities Review report, with the average value of luxury homes in the country increasing 144 percent over the past five years.“Singapore has the highest concentration of millionaire households in the world...
Continue Reading • 23 Sept 2011
Popular acquires Permai Court for S$20.25m
Singapore-based company Popular Holdings, through Popular Land Investment, has secured an en bloc sales deal to acquire Permai Court, a freehold residential site at Kampong Bahru, for approximately S$20.25 million.This works out to about S$982 psf ppr, taking into consideration an estimated S$2.5...
Continue Reading • 23 Sept 2011
US mortgages falter
Mortgage lending in the US declined last year amid weak demand and stricter credit standards, which are especially evident in areas with high real estate foreclosures, said the Federal Reserve.Its yearly analysis of mortgage data gathered from 7,900 financial establishments revealed that lenders...
Continue Reading • 23 Sept 2011
High property prices in Hong Kong spoil buying spree
Hong Kong residents’ desire to purchase properties has decreased dramatically in the light of skyrocketing home prices, according to an annual survey by the University of Hong Kong.The survey noted that approximately 1.63 million people in Hong Kong intend to purchase property, down 337,000...
Continue Reading • 23 Sept 2011
CapitaLand completes first residential project in Vietnam
Southeast Asia’s largest property developer CapitaLand has announced the successful completion of its first residential development in Vietnam, The Vista.Construction works for the project, which was jointly developed by CapitaLand, Phu Gia Investment Joint Stock Company and Thien Duc...
Continue Reading • 23 Sept 2011
Average mass market home prices hit S$1 million
Average prices of mass market homes in suburban areas have exceeded the psychological threshold of S$1 million, according to a Straits Times report.Data compiled by Ku Swee Yong, Chief Executive of International Property Advisor, and the Singapore Condo agency showed that values for new and...
Continue Reading • 23 Sept 2011
Foreigners should be able to own landed properties in S'pore, says expert
Landed properties in Singapore should be made available to foreign investors too, said Tim Murphy, Chief Executive Officer of IP Global.This view was with regards to the government’s strict regulations of making landed properties in Singapore exclusive to Singaporeans.“I understand...
Continue Reading • 22 Sept 2011
Parkway View up for sale with S$81m price tag
Jones Lang LaSalle (JLL) has launched the collective sale of Parkway View, a prime residential development site along Marine Parade Road, at an indicative price of S$81 million.This works out to around S$1,360 psf ppr, with no development charge (DC) payable.Enjoying prominent frontage along...
Continue Reading • 22 Sept 2011
Cruise terminal in Shanghai wins top property award
The Shanghai International Cruise Terminal (SICT), a mixed-use development designed by international architectural firm Sparch, recently won in the Best Mixed-Use Buildings category at the 2011 MIPIM Asia Awards.“The Shanghai International Cruise Terminal is the collaborative result of...
Continue Reading • 22 Sept 2011
Residential sites face softening land bid prices
While prices of private homes have continued to moderate for over a year, residential sites are witnessing a softening in bid prices.In addition, strong sales have been recorded at new launches, such as the Meyerise at Meyer Road, which sold 35 percent of its units, and the Luxurie in Sengkang,...
Continue Reading • 22 Sept 2011
CEA extends deadline for exam
Earlier this year, the Council for Estate Agencies (CEA) permitted existing salespersons who have not passed the industry examination, but have completed at least three property transactions over the last two years (before the CEA’s formation), to continue their work as salespersons on a...
Continue Reading • 22 Sept 2011
Oxley Holdings takes part in S$171m property acquisition
A conglomerate led by Oxley Holdings has participated in the biggest en bloc sale in Singapore this year, with the acquisition of Hong Leong Garden Shopping Centre for S$171.128 million. The purchase of the mixed development at West Coast Way equates to a land price of between S$804 psf and S$819...
Continue Reading • 22 Sept 2011
Mortgages up, rentals becoming scarce in Australia
One in four Australian homeowners are facing higher mortgages while rental vacancy is scarce in some cities, with the September Homebuyer Confidence Index showing that costs and mortgage rates climbed 21 percent in March.Meanwhile, data from SQM Research Pty showed that rental vacancies slipped...
Continue Reading • 22 Sept 2011
Centrale 8 sales better than expected, but hardly robust
Sim Lian Group’s Centrale 8 project in Tampines has seen more units sold than expected, even after it received widespread criticism for its record price of S$880,000 for a five-room flat.According to an article in TODAY, the asking price was slashed by at least S$100,000, following rampant...
Continue Reading • 22 Sept 2011
Road show boost for Thai property developer
Property developer Ananda Development Public Company Limited recently held a road show in Bangkok aimed at boosting the sales of its new condo projects.The 'IDEO Sukhumvit in Motion' event featured Ananda’s three condominium developments — Ideo Mix Sukhumvit 103, Ideo BluCover...
Continue Reading • 22 Sept 2011