EL Development offers top bid for Clementi Ave 4 site
A public tender for a Clementi Avenue 4 site has received a total of 11 bids, with EL Development offering the top bid of S$224 million, or approximately S$271 psf ppr.The land parcel was made available for sale on 26 January under the design, build and sell scheme (DBSS). Analysts said the 11...
Continue Reading • 9 Mar 2011
China's mortgage rate increase leaves HK unaffected
The two percent mortgage rate increase expected in China this year will have minimal impact on Hong Kong’s property market, according to property advisers DTZ Debenham Tie Leung.Alva To Yu-hung, Consulting and Research Director at DTZ, said such interest rates will remain affordable.Mr. To...
Continue Reading • 9 Mar 2011
W Bangkok to be completed in 2012
W Bangkok has been topped off and the construction works are slated for completion in mid-2012.Structural work has been completed on the unique and promising high-end hotel’s 408 rooms and extensive facilities.The property, which also comprises 73,000 sq m of Grade A office space, will form...
Continue Reading • 9 Mar 2011
Companies focus on corporate real estate
Companies emerging from the worldwide recession are focusing on restructuring and the productive use of corporate real estate (CRE), according to the inaugural Global Corporate Real Estate Survey conducted by Jones Lang LaSalle (JLL) and Thomson Reuters.The survey of over 500 CRE executives...
Continue Reading • 9 Mar 2011
Redas' research to help find solutions to real estate issues
The Real Estate Developers’ Association of Singapore (Redas) will be heading a new focus group to research the issues affecting Singapore’s real estate market.The group, comprising Redas members, as well as analysts and researchers from CB Richard Ellis (CBRE), Cushman &...
Continue Reading • 9 Mar 2011
HomeGuru officially launches in Malaysia
The launch of AllProperty Media’s HomeGuru website (www.HomeGuru.com.my) in Malaysia has received positive response, gaining more than 55,000 property listings with a registered base of up to 5,000 real estate agents and page views hitting more than one million since 26 January 2011.The...
Continue Reading • 9 Mar 2011
New project to quadruple Ho Bee's profits
The S$820 million investment of Ho Bee’s new Grade A office project at one-north, Buona Vista is expected to generate up to a four-fold increase in its recurring profits, said CEO and Chairman Chua Thian Poh.Ho Bee, which is known for its luxury residential projects at Sentosa Cove, won the...
Continue Reading • 9 Mar 2011
IOI to become CDL's partner for South Beach project
Malaysia-based IOI Group is set to become City Developments Ltd’s (CDL) partner for Singapore’s South Beach project, said sources.IOI is understood to be nearing a deal to acquire the one-third stake of US-based Elad Group in the consortium developing the office, retail, hotel and...
Continue Reading • 9 Mar 2011
Robertson Quay hotel site attracts nine bids
A 99-year leasehold hotel site at Robertson Quay has attracted a total of nine bids in a public tender that closed yesterday.“The tender for a 99-year leasehold hotel site at Robertson Quay closed today with nine bids received, reflecting the thriving tourism and hospitality sector,”...
Continue Reading • 9 Mar 2011
Record price for Cluny Road GCB
A Good Class Bungalow (GCB) at Cluny Road has fetched a record land price per unit of S$33 million (approximately S$2,038 psf) on a freehold land area of approximately 16,200 sq ft.This amount surpasses the previous record of S$1,899 psf on land area that Chew Hua Seng, Chairman and Founder of...
Continue Reading • 9 Mar 2011
Singapore among top relocation destinations
Singapore has been ranked among the most popular global destinations for relocation.According to the Global Professionals on the Move Report 2011, commissioned by the Hydrogen Group, which surveyed 2,637 professionals from 85 countries, Singapore joined Canada in fifth place as one of the most...
Continue Reading • 8 Mar 2011
Variable mortgage rates catching on in Australia
Australian home buyers are starting to favour variable mortgage rates, according to a new study.Mortgage broker Loan Market stated that the number of home buyers deciding to compare mortgage loans on the Internet is increasing. It added that the term “home loan calculator” accounted...
Continue Reading • 8 Mar 2011
Hong Kong to face insufficient housing supply
The red-hot property market in Hong Kong has left private residential prices unaffordable and the trend is expected to continue for the next 20 years, according to a research report released by the Royal Institution of Chartered Surveyors (RICS).The report on property affordability over the next...
Continue Reading • 8 Mar 2011
Perennial China Retail Trust to defer Singapore listing
Perennial China Retail Trust (PCRT) has announced its decision to defer its S$1.1 billion (US$861 million) initial public offering (IPO) in Singapore, due to adverse market conditions. The decision was made despite strong interest from cornerstone investors, including insurance companies, real...
Continue Reading • 8 Mar 2011
Private estate residents' panel receives boost
The People’s Association (PA) is currently struggling with how to adapt its programmes to meet the needs of an increasing number of Singaporeans living in private estates.Lim Boon Heng, Deputy Chairman of PA, announced a new coordinating unit for neighbourhood committees (NCs), the...
Continue Reading • 8 Mar 2011
Guidelines to curb showflat tricks on the cards
The Singapore government is planning to release new guidelines on promotional materials for new houses, in order to better help home buyers make decisions.National Development Minister Mah Bow Tan announced last week that stricter rules will likely be introduced to guarantee that...
Continue Reading • 8 Mar 2011
H20 Residences' average price now at S$920 psf
City Developments Ltd (CDL) has raised the average price of its H20 Residences condominium development in Sengkang to approximately S$920 psf over the weekend, from the initial S$910 psf, when the project was previewed on Friday.To date, 150 of the 200 units released in the 99-year leasehold...
Continue Reading • 8 Mar 2011
Pine Grove up for en bloc sale
Pine Grove, a prime redevelopment site near Holland Village, is up for collective sale through tender.With an area of 893,219 sq ft, the site is zoned for residential use with a gross plot ratio of up to 2.1. The site can be redeveloped into a residential development of up to 24 storeys, with a...
Continue Reading • 8 Mar 2011
Hong Kong, Singapore top global house price index
Hong Kong and Singapore have topped the global house price index, as home values in both countries recorded the highest increase.Based on The Economist’s latest quarterly global house price index, home prices in Hong Kong climbed 20.1 percent in Q4 2010, while house prices in Singapore rose...
Continue Reading • 7 Mar 2011
More borrowers taking multiple mortgages
Up to 15.1 percent of individuals who secured a new real estate loan in 2010 already had two or more outstanding loans.While this percentage has stayed relatively stable over the years, the absolute number of individuals making up the group has risen.As of 10 December 2010, 108,995 Singaporeans,...
Continue Reading • 7 Mar 2011