En bloc projects being leased out instead of getting rebuilt MANY new homes recently built for the well-heeled in Singapore are sitting empty. Only 45 per cent of the luxury projects launched since June 2006 have been sold as of November last year, according to property consultancy CBRE. This period saw the roll-out of 20 projects in this segment, which has a total of 2,209 units, some of which have yet...
January 2009
But proper screening required, say landlords WITH job losses expected to spike and bonuses becoming restrained, more homeowners may resort to renting out spare rooms to make ends meet, say analysts. Although carving out a space in your home for strangers may mean a loss of privacy and inevitable adjustments to the way you live, it can also help with monthly mortgage payments and other...
2008 saw a drastic fall in sales of luxury apartments in Singapore. Property consultancy CB Richard Ellis said 1,096 caveats were lodged in 2008 – a fifth of the sales volume in 2007. In 2007, the average launch price of luxury projects ranged from S$2,000 to S$4,000 per square foot. But by the end of 2008, the average launch price of such homes had fallen to a range of between S$2,000 and S$2,600 per...
Shares of CapitaCommercial Trust (CCT) rallied to a two-month high on Wednesday following an announcement that it would refinance as much as S$580 million of mortgage-backed securities. The counter was up 7 per cent to S$1.00. Analysts are also cheering the company's decision to scrap a billion-dollar redevelopment plan in Singapore's business district as more developers are expected to hold back...
Court said temple's acquisition based on planning factors AN APPEAL by three devotees to get back the site of their 66-year-old temple off Bartley Road has been dismissed. In an 18-page judgment released on Monday, the Court of Appeal rejected the trio's contention that the Government's acquisition of the land had violated the Republic's Constitution. The three devotees of Jin Long Si Temple - Ms Eng...
Businessman accused of vandalising property at East Coast estate WHEN the possibility of a collective sale for Laguna Park was announced in December 2007, some residents held back, hoping this would drive up the estate's value. But things turned ugly later at the East Coast area condominium, which was hit by a spate of vandalism cases after several residents opposed the sale. Cars belonging to residents...
CAPITACOMMERCIAL Trust (CCT) has scrapped plans to redevelop the Market Street car park into a grade A office building, which could have cost up to $1.5 billion. "The manager, after taking into consideration the uncertain market outlook, tight credit conditions, high redevelopment cost and significant size of the project, has decided to abort the project immediately," the Singapore-listed real estate...
When the possibility of a collective sale for Laguna Park was announced in December 2007, some residents held back, hoping it would drive up the estate’s value. But matters turned ugly later at the East Coast condominium, which was hit by a spate of vandalism after several residents opposed the sale. Cars belonging to residents against the sale were splashed with paint or scratched, while mailboxes...
Singapore's public housing market is expected to do well this year, compared to the slumping real estate markets across Asia. The economic slowdown means homebuyers are likely to opt for cheaper units from the Housing and Development Board (HDB) over more expensive housing like condominiums. On the private housing front, transaction volumes and prices have fallen at an increasing pace in recent months...
CapitaCommercial Trust (CCT) has decided not to redevelop the Market Street Car Park into a commercial building. The redevelopment is estimated to cost up to S$1.5 billion. CCT said the decision was based on the uncertain market outlook and conditions like tight credit and high redevelopment costs. CapitaCommerical Trust Management CEO, Lynette Leong, said: "In line with our prudent approach to capital...