Jackie Chan gets S$3.7m from building sale
Actor Jackie Chan, who owns various properties in Singapore, has made S$3.7 million after selling The 50s entertainment complex in Tanjong Pagar.According to a report from The Straits Times, Chan sold the building in April for S$12.5 million to a Singaporean friend who runs an investment...
Continue Reading • 21 Jun 2011
Brookvale Park up for public tender
Brookvale Park, a prime 999-year residential site at Brookvale Drive, has been put on the market with an indicative price of S$550.0 million, said CB Richard Ellis (CBRE), the marketing agent for the property.Nestled in the exclusive Sunset Way bungalow estate, Brookvale Park has a total land...
Continue Reading • 21 Jun 2011
S'pore property bubble to burst in 2013?
A property expert feels that the Singapore real estate market, which has recorded a stellar performance, could be heading towards a perfect storm, according to a report by The New Paper.Prices of private homes last year rose 17.6 percent, while prices of HDB resale flats surged 14.1 percent. The...
Continue Reading • 20 Jun 2011
HK home buyers turn to renting
Flat sales in Hong Kong remain slow, as potential buyers opt to rent while awaiting a new outlook in the wake of government attempts to curb the real estate market, according to a report by The Standard.Midland Realty registered a total of 21 transactions, compared with 24 in the previous week.In...
Continue Reading • 20 Jun 2011
Property investment sales down in Q2
Property investment sales slipped in the second quarter, according to separate estimates by Savills Singapore and CB Richard Ellis (CBRE).Both firms attributed this to slower sales involving private-sector sellers, although this has been eased by an increase in Government Land Sales...
Continue Reading • 20 Jun 2011
S'pore 5th in Global House Price Index
Singapore has been ranked fifth in the latest Global House Price Index released by Knight Frank, registering a 10.5 percent year-on-year growth in home prices.Meanwhile, Asia has been named the best-performing continent, with Asian countries taking four of the top five spots, registering an...
Continue Reading • 20 Jun 2011
Keppel Land to develop waterfront site in Vietnam
Keppel Land Limited has obtained masterplan approval for its integrated waterfront residential development site in Ho Chi Minh City (HCMC), Vietnam.The company, through its wholly-owned subsidiary Flemmington Investments Ltd, together with joint venture (JV) partners, Tran Thai Co, Ltd (Tran...
Continue Reading • 20 Jun 2011
Steve Wynn eyeing casino-hotel in Singapore
Casino gaming tycoon Steve Wynn, who controls Wynn Macau and Wynn Resort, is looking to develop a property in Singapore, according to a Business Times report.“I'm dying to go to Singapore,” he said. “That's my next goal in life – to build a hotel in Singapore.”He...
Continue Reading • 20 Jun 2011
UK lenders cut fixed-rate mortgages
Fixed-rate mortgages have been slashed by some leading UK home loan providers.Santander reduced the rate of its two- and three-year fixed mortgages by up to 0.3 percentage points, while Northern Rock improved its fixed rates by up to 0.5 percentage points.Home loan providers pushed shorter-term...
Continue Reading • 20 Jun 2011
Flora Drive site awarded to Frasers Centrepoint
The Urban Redevelopment Authority (URA) has awarded the tender for the residential land parcel located at Flora Drive to Frasers Centrepoint Ltd.Frasers Centrepoint Ltd submitted the top bid of S$131.38 million in a public tender that closed on 16 June 2011. This translates to S$3,499.27 psm of...
Continue Reading • 20 Jun 2011
DBSS is not HDB, says Khaw
National Development Minister Khaw Boon Wan tried to differentiate Design, Build and Sell Scheme (DBSS) developments from HDB flats, following the stir caused by the launch of a DBSS project, which is marketing a five-room flat for a whopping S$880,000.“While HDB flats are designed and...
Continue Reading • 20 Jun 2011
Jones Lang LaSalle appoints new International Director for Singapore
Property consultancy firm Jones Lang LaSalle (JLL) has appointed Mike Batchelor as its new International Director for Singapore.Together with 23 other colleagues, Batchelor will join a select group of International Directors known for providing exceptional results for clients and driving the...
Continue Reading • 17 Jun 2011
Maplewoods residents sign petition against MRT construction work
Residents of Maplewoods Condominium in Bukit Timah have signed a petition to Prime Minister Lee Hsien Loong regarding the inconveniences caused by the construction of the new Downtown Line.The petition, which calls for the relocation of the King Albert Park station’s launch shaft, was...
Continue Reading • 17 Jun 2011
Whitley Heights re-launched for sale with lower price tag
Whitley Heights, a 45-unit condominium development located off Whitley Road, has been re-launched for sale at a lower price.Credo Real Estate, which is marketing the property, said that the first attempted sale in January this year was unsuccessful, as the offer it had received was below the...
Continue Reading • 17 Jun 2011
HK mortgage transactions may drop significantly
The transaction volume of Hong Kong mortgages may drop 40 percent over the next two years, as liquidity tightens and banks are required to set aside additional reserves, according to Barclays Capital.In a Bloomberg report, Tom Quarmby, Head of Regional Banking Research at Barclays, noted that the...
Continue Reading • 17 Jun 2011
LTA plans new MRT station near Republic Polytechnic
The Land Transport Authority (LTA) has revealed its plans to develop an MRT station near Republic Polytechnic in Woodlands to join the upcoming Thomson Line with a proposed rapid transit train link to Johor Baru.The LTA said that the station will be the northern-most on the Thomson Line.The 30 km...
Continue Reading • 17 Jun 2011
GuocoLand, EPF to jointly develop S'pore's tallest apartment
Guocoland, a property investment unit of Hong Leong Group, has announced that it will tie up with Malaysian pension fund Employees Provident Fund (EPF) to develop a Singapore project, which is set to become the city’s tallest apartment.The company said it has sold a 20 percent stake...
Continue Reading • 17 Jun 2011
Flora Drive site receives top bid of S$131.38m
The tender for a 99-year leasehold land parcel at Flora Drive closed on 16 June, with Frasers Centrepoint Limited offering the highest bid of S$131.38 million.“The top bid (placed by Frasers Centrepoint Limited) of S$131.38 million or S$325 psf ppr will translate to a breakeven cost of...
Continue Reading • 17 Jun 2011
Khaw reveals profiles of May BTO applicants
National Development Minister Khaw Boon Wan revealed in his latest blog entry the profiles of 14,000 applicants for the May 2011 launch of Built-to-Order (BTO) flats.Entitled “Know Our Customers”, his latest blog entry revealed that 65 percent of the applicants are first-time buyers...
Continue Reading • 17 Jun 2011
S'pore a top city for finance professionals
Singapore is the most popular Asian destination for finance professionals seeking overseas experience, according to a recent survey conducted by eFinancialCareers in May and June 2011.George McFerran, Head of Asia Pacific at eFinancialCareers, said the survey, which covered 3,019 finance...
Continue Reading • 16 Jun 2011