Farrer Medical Centre up for lease
The new Medical suites at the forthcoming Farrer Medical Centre will also be open to retail investors, although with set limitations. It must be understood by the investors that the tenants that they will choose need to meet some professional standards that the medical board at the incorporated...
Continue Reading • 22 Sept 2009
St. Regis flat incurs largest loss
A flat at St. Regis Residences generated a staggering $5 million subsale loss, the most substantial this year thus far.On the flip side, a unit located at the same development chalked up the largest gain. In July, the flat at St. Regis’ fifth floor was transacted at $9.5 million, an...
Continue Reading • 22 Sept 2009
Sales of private homes stay strong
Despite the Government’s announcement last week of the measures to take the bubbles from the property market, the demand of consumers for private homes still remained strong.Property developers Hotel Properties and CapitaLand stated on Monday that 65 percent or 233 out of the 360 units at...
Continue Reading • 22 Sept 2009
Despite IAS ban, sales still solid at Interlace
The Singaporean Government's proclamation last week that bans the IAS or interest absorption scheme and Tuesday’s rowdy-to-say-the-least preview did little to weaken The Interlace’s sales.“We didn't expect the scrapping of the IAS to affect us very much, because a very small...
Continue Reading • 22 Sept 2009
2009: poorer profit in subsale market
This year proved to be tough for property speculators thus far. In the first eight months of 2009, around 341 subsales of apartments and condos incurred losses. This figure is approximately 4.5 times the number of incurred losses in 2008.In terms of percentage, this year’s numbers are...
Continue Reading • 22 Sept 2009
Prime state properties awarded to Pte sectors
On Wednesday, the two prime state properties, which have promoted Singapore’s heritage and arts scene, have been awarded to the private sector operators. The two sites, one near Dempsey and the other in the Bras Basah area, will host art facilities and integrated museum.Among the nine...
Continue Reading • 18 Sept 2009
STI gets welcome lift from UK, HK
Hong Kong’s return on line Wednesday after a typhoon forced an unwanted break on Tuesday helped revitalise buying interest. With the 2.6 percent increase in the Hang Seng at closing, coupled with a welcome boost from Europe - most likely in the hopes that Wall Street will bounce back - the...
Continue Reading • 18 Sept 2009
Median Prices of New Leasehold Homes Sold 11.0 cent higher in Q3 compared to Q2 ‘09
Median prices of 99- year non- landed homes sold in the third quarter of this year have increased across the board – across new, resale and sub sale markets. CBRE’s analysis of caveats lodged show a double- digit increase of 11.0 cent in median prices of new homes, from...
Continue Reading • 17 Sept 2009
Q3 investment sales improve by 13 percent
Sentiment in the property market remains to be high as the preliminary data showed Q3 investment sales are 13 percent higher than Q2. Jones Lang LaSalle said yesterday that the data for Q3 indicates that the total for investment sales to date is $1.83 billion.Meanwhile, Colliers International...
Continue Reading • 17 Sept 2009
Median home prices increased in Q3
According to the analysis of CB Richard Ellis (CBRE) of the caveats data, the median price for new 99-year leasehold apartments and condos per square foot (psf) that were sold by the developers had an increased by 16.5 percent in the third quarter, which is more than twice the increase of 7.8...
Continue Reading • 17 Sept 2009
Gillman owners appalled with Interlace preview
Gillman Heights’ home owners were disappointed because of what they witnessed during yesterday’s private preview for the new project The Interlace. As Gillman will be knocked down to accommodate the new project, its owners complain that the units being offered to them at...
Continue Reading • 17 Sept 2009
August home sales slow but solid
Developers sold fewer homes in August than in July but the number of units sold is still solid, according to the Urban Redevelopment Authority.The purchasing frenzy that animated the sales of housing units in July tapered off in August as 1,699 new private homes changed hands. That can still be...
Continue Reading • 17 Sept 2009
Investors take brunt of Government announcement
The Singaporean Government’s plans to offset unwarranted speculation in the property market brought the momentum of investors to an abrupt halt on Monday. The said counter measures also caused the Straits Times Index (STI) to slide.During the week’s first trading session, the market...
Continue Reading • 16 Sept 2009
Developers push through projects launching
Despite measures that were announced on Monday by the government to cool down an overheating market on private housing, a number of developers still intend to proceed with plans to start on their projects.According to a CapitaLand spokeswoman, the CapitaLand Residential began to preview yesterday...
Continue Reading • 16 Sept 2009
Stocks under pressure in restrained trading
Due to a typhoon warning, Hong Kong market closed during the morning session. The closure indicated that the local stocks had suffered yesterday from an absence of proper direction and some loss of liquidity. Following the government’s anti-speculation moves last Monday, the property stocks...
Continue Reading • 16 Sept 2009
AFM announces A-REIT board lineup changes
The managing firm of Ascendas Real Estate Investment Trust (A-REIT), Ascendas Funds Management Limited (AFM), announced yesterday that directors Swee Kee Siong and Benedict Kwek Gim Song have retired. AFM also announced that Monica Villegas Tomlin, Koh Soo Keong and Henry Tan Song Kok have been...
Continue Reading • 16 Sept 2009
Low cost, comprehensive, rent protection insurance introduced in Singapore
At 15 percent of first month’s rental, landholders are protected for the entire tenancy period, up to 24 months. Landlord-tenant dispute claims have increased at an accelerating pace since 2006, according to statistics released by the Small Claims Tribunal of the Subordinate Courts....
Continue Reading • 16 Sept 2009
Singapore Government enforces cooling measures
Yesterday, the government of Singapore announced cooling measures to prevent any speculative bubble from forming and temper the exuberance in the market after the two recent warnings about the rising intensity in the private housing sector.From the first half of next year, the Confirmed List land...
Continue Reading • 15 Sept 2009
Retail rents in Orchard Road declining
The most recent report of CB Richard Ellis (CBRE), a multinational real estate firm, shows that the prime retail rents in Orchard Road continue to slide down as it fell 3 percent quarter-to-quarter in Q3 of 2009 to $32.90 per sq. ft. per month (psf pm).The said report is in line with the fall of...
Continue Reading • 15 Sept 2009
Tighter housing loan rules will help sincere buyers
The new measures announced by the Government to tighten housing loan rules are expected to prevent excessive speculation in this somewhat heated market. “Overall, this is a timely measure on the Government’s part,” shares PropNex CEO Mohamed Ismail, referring to the announcement...
Continue Reading • 14 Sept 2009