Park West in Clementi goes en bloc
Park West, a prime residential site at Jalan Lempeng in Clementi, has been launched for en bloc sale with an indicative price of S$803 million.This works out to around S$603 psf ppr based on a gross floor area (GFA) of approximately 1,330,653 sq ft. The 99-year leasehold site has a gross plot...
Continue Reading • 7 Sept 2011
Global recession is now more likely than not, warns Tharman
A global recession is “more likely than not”, as economies in western countries are at “stall” speed, said Singapore's finance minister Tharman Shanmugaratnam.He noted that the world has now “entered a phase where there is a self reinforcing cycle” of a loss of...
Continue Reading • 7 Sept 2011
Facelift in line for Tanjong Pagar estate
A five-year master plan for Tanjong Pagar GRC and Radin Mas single-member constituency has been unveiled by Minister Mentor Lee Kuan Yew, promising residents more green spaces, better transport links and new and improved public housing estates in the next five years.This also aims to make life...
Continue Reading • 7 Sept 2011
Condo units at The Meyerise snapped up in preview
The Meyerise, a 239-unit freehold project at Meyer Road, saw strong interest from buyers during its weekend preview, with nearly 70 percent of the 120 units released sold.Of the total units sold, approximately 50 percent were three-bedroom units, with prices ranging between S$1,400 psf and...
Continue Reading • 6 Sept 2011
The Luxurie at Sengkang a big hit with property hunters
Keppel Land Limited has seen strong response for The Luxurie at Sengkang, with over 180 units sold at an average price of S$980 psf since sales started last week.“The positive take-up, with more than 82 percent of the 220 launched units sold, reflects home buyers’ confidence in The...
Continue Reading • 6 Sept 2011
Several mid-sized property deals closed
A few mid-sized real estate investment sales transactions have been closed recently.Formerly called Royal Peacock Hotel, The Saff Hotel at Keong Saik Road has been sold to the Hind Group for slightly below S$42.1 million, according to The Business Times. The Hind Group also owns Naumi Hotel, a...
Continue Reading • 6 Sept 2011
Dynasty Garden freehold site up for sale
Dynasty Garden, a freehold redevelopment site in District 10, along with its adjoining plot, have been launched for sale through a public tender.Located along Sixth Avenue, Dynasty Garden currently comprises 33 walk-up apartments with unit sizes of between 97 sq m and 242 sq m. Knight Frank, the...
Continue Reading • 6 Sept 2011
Aussie home loan approvals rise slightly in July
The number of home loans approved in Australia edged up one percent to a seasonally adjusted 49,813 in July, up from 49,309 in June, according to the latest figures from the Australian Bureau of Statistics (ABS).Meanwhile, the Australian Capital Territory (ACT) experienced a 0.3 percent...
Continue Reading • 6 Sept 2011
S'pore a top choice for Australian companies
Approximately three out of five Australian firms are looking at expanding across Southeast Asia, with Singapore as their top choice.According to the latest Regus survey, emerging Southeast Asian markets are proving attractive to Australian firms. The research polled over 800 Australian business...
Continue Reading • 6 Sept 2011
Asia Pac construction is world's cheapest, finds new study
Despite experiencing significant economic growth, several countries in the Asia Pacific region have considerably lower construction costs than western countries, according to the latest Annual Construction Cost Comparison by EC Harris Research.Currently in its seventh year, the annual report...
Continue Reading • 6 Sept 2011
Bukit Timah Railway Station to open doors this month
The Singapore Land Authority (SLA) has announced that the Bukit Timah Railway Station and its adjacent railway land will be open to the general public from 16 September.The public will have access to this stretch of the rail corridor for leisure activities. As soon as the railway tracks are...
Continue Reading • 5 Sept 2011
Inflation pressures to stay high: MAS
The Monetary Authority of Singapore (MAS) expects the inflation rate to remain high, on the back of the slowdown in the global economy.According to the central bank’s quarterly report, inflation will remain above five percent for now.“Inflation is expected to remain elevated at...
Continue Reading • 5 Sept 2011
S-Reits resilient amidst volatile markets
Retail real estate investment trusts (Reits) earnings in Singapore will continue to surge in the coming months, attributed to positive consumer confidence, said DBS.“With earnings forecasted to be growing steadily and supported by an expected strong S$, we believe that S-Reits continue to...
Continue Reading • 5 Sept 2011
DBS introduces three new mortgage products
DBS Group, one of the leading financial services groups in Asia, has introduced three new mortgage packages to attract home buyers seeking to benefit from the current low interest rates.Pegged to the three-month Singapore Interbank Offered Rate (SIBOR) plus a spread, the first package provides a...
Continue Reading • 5 Sept 2011
GuocoLand in JV to develop Beijing site
A site in Xinzhongjie, located opposite the Dongzhimen transportation hub in Beijing will be jointly developed by GuocoLand China and Beijing Oriental Real Estate Investment Co Ltd.Both groups will be responsible for the administration and planning of the land to meet the prerequisites for a land...
Continue Reading • 5 Sept 2011
Housing in high demand, prices stable
Singapore property prices will remain stable in the medium term, with key home-buying factors like upgrading and investment still expected to drive up demand, said a My Paper report.This comes amid the expected slowdown in Singapore’s economic growth, led by the debt crisis in western...
Continue Reading • 5 Sept 2011
Singapore firms dominate Aussie property investment market
Singaporean firms are dominating the number of foreign property investors in Australia, as the country’s attractive valuations continue to lure investors, according to a recent survey.CB Richard Ellis (CBRE) figures indicated that for H1 2011, Singaporean companies comprised 19 percent of...
Continue Reading • 5 Sept 2011
CEA investigating violations of new ad guidelines
The Council of Estate Agents (CEA) in Singapore is investigating 20 possible cases of infringement of property agents’ new advertising guidelines, one month after their implementation, according to a Channel NewsAsia report.Lee Say Kee, Director for Regulatory Control at CEA, said dummy...
Continue Reading • 2 Sept 2011
The Arc at Tampines EC sees strong interest
More than 300 interested parties have visited The Arc at Tampines showroom, the first executive condominium (EC) project to be launched since income ceiling rules were revised in August 2011, according to The Straits Times.Agnes Lee, a kindergarten principal, was one of the early birds at the...
Continue Reading • 2 Sept 2011
Whitley Heights condo sold for S$159m in collective sale
A condominium located off Thomson Road has been sold to Hoi Hup Realty for S$159 million, or approximately S$1,222 psf of land area.Called Whitley Heights, the freehold development comprises 45 walk-up apartments in three 3-storey blocks. It was launched for sale in January 2011, with the owners...
Continue Reading • 2 Sept 2011