Real estate investment trusts (REITs) may have taken a battering in the wake of the global financial crisis, but according to experts, they have rebounded sharply and recovered more quickly than other equities. Some market watchers said REITs hold great potential in the new post-financial crisis investment landscape. Singapore's Raffles City has undergone a major facelift since being managed by a REIT....
2009
There has been a series of transactions for apartments in the prime Draycott Drive-Draycott Park district from Oct 23 to 30. Five apartments in the exclusive neighbourhood located in the vicinity of the American and Tanglin Clubs were sold for prices ranging from $1,762 to $2,303 psf. The most prestigious development in the Draycott area is the 136-unit Draycott Eight, developed by Wing Tai Holdings and...
The government said on Monday the measures taken to cool the property market appear to have had the desired effect. Speaking in Parliament, National Development Minister Mah Bow Tan noted that since the measures were introduced, the sale of private homes fell 37 per cent on-month in September, and another 29 per cent in October. In September, the government removed the Interest Absorption Scheme and...
The median resale prices of executive condominiums (ECs) have increased 63 per cent in the last two years, riding on the bull-run in the private residential market. Property consultancy CB Richard Ellis said caveats lodged for ECs in the resale market in October this year showed prices at S$519 per square foot. This is 63 per cent higher from the bottom of the market in the third quarter of 2006 when ECs...
The Housing & Development Board (HDB) has projected it will need to offer between 10,000 and 12,000 new flats per annum over the next five years to meet the housing demand in Singapore. Speaking in Parliament on Monday, National Development Minister Mah Bow Tan re-assured that there will be enough affordable flats for first time buyers. This year, at least 13,500 flats will be offered in total –...
Some homeowners at the Pine Grove estate along Ulu Pandan Road are making another attempt to sell their properties in a collective sale. This will be their third bid since 2005. MediaCorp understands that the minimum reserve price for the 660-unit unit estate is S$1.33 billion. Depending on the size of the unit and the development charge that is payable, owners stand to pocket an average of S$2 million...
Located in the vibrant Katong vicinity and close to well-known eateries like Katong Laksa, The Shore Residences offers a beachfront lifestyle in tranquility, an oasis away from the city. Comprising 1-4 bedroom units spread over 6 towers, residents will enjoy close proximity to East Coast Park as well as a host of amenities situated in the neighbourhood. The Shore Residences is also a short 10 minutes...
Sales of private homes have dipped to their second lowest level this year in October according to data released by the Urban Redevelopment Authority (URA) this week. While market observers believe that this downward trend was the result of the recent anti-speculative measures introduced by the Government, some analysts are sceptical that the market has started to cool. According to statistics, sales of...
The manager of MacarthurCook Industrial REIT said its recapitalisation plan is the only proposal which meets the REIT's substantial and immediate funding requirements. It said this is reinforced by Cambridge Industrial Trust's (CIT's) disclosure on Friday that it has no viable proposal or solution for MI-REIT and its unitholders. CIT said on Friday that the Monetary Authority of Singapore would not allow...
Concerns over the property market will be one of the main topics to be discussed in Parliament next week. MP for Aljunied GRC Cynthia Phua will be asking the Minister for National Development about the projected supply and demand of HDB flats over the next five years while MP for Marine Parade GRC, Dr Muhammad Faishal wants to know about the waiting time for new couples applying for HDB flats. MPs are...