The Housing & Development Board (HDB) has seen strong demand for the 2,100 flats being offered under its "Sale of Balance Flats" exercise. The HDB received more than 19,000 applications, just a day before the exercise closes, which means that the flats are nearly nine times oversubscribed. Demand was high for the flats - ranging from studio apartments to executive flats - in estates such as Bedok,...
2009
Fortune Real Estate Investment Trust says it has received valid acceptances and excess applications for a total of 955,123,404 rights units at the close of Fortune REIT’s rights issue on Oct 7. This represents 115.8% of the total number of rights units available under the rights issue. The manager had on Aug 24 announced the fully underwritten one-for-one renounceable rights issue of 824,879,427 rights...
Accrediting all real estate agents and setting up a tribunal to handle disputes are some of the proposals which could be introduced soon to help improve the standards of the real estate industry. The suggestions came after the Ministry of National Development consulted industry players from September 10 to October 1. And from October 13, the public can give their feedback on the proposed regulatory...
If you are thinking of investing in small apartments measuring less than 500 sq ft because they are cheaper, you may want to think again, according to property experts. As there are only a few "shoe box" housing units available on the market, and with a popularity that's still in the early stages, analysts said the returns on investment in these properties could be limited. "This is a non-standard...
There’s been a spurt in sales at Nuovo in Ang Mo Kio recently, after the executive condominium (EC) crossed the five-year minimum-occupation period. Seven units changed hands from Sept 4 to 11, according to caveats lodged with URA Realis. In 2006 and 2008, there was only one transaction each, and two deals in 2007. Owners who sold recently are taking advantage of the “Centro-effect”, caused by the...
Five privately owned wet markets won't be converted into air-conditioned supermarkets if Sheng Siong takes over. This is because HDB told MediaCorp, the supermarket chain has expressed taking over the wet markets in their existing state. The wet markets are located in areas like Choa Chu Kang, Bukit Batok and Serangoon North. Earlier, stallholders at the Serangoon Wet Market were trying to garner 3,000...
Revenue from government land sales fell 41 per cent to S$7.3 billion in the last fiscal year ended March 2009. But analysts said despite the decline for the full year, land prices have actually risen 30 per cent in the past six months and there are some concerns that this could lead to another property bubble. Showflats have been packing in the crowds for many months now. Demand for land has also picked...
Property consultancy DTZ said on Thursday investment sales here tripled in the third quarter of this year. Total property investment value in the July to September period jumped 200 per cent on-quarter to S$2.3 billion. Historically though, the figure is still below the S$4 billion to S$12 billion mark achieved quarterly between 2005 and 2008. DTZ attributed the increase in investment sales in the third...
Property developer CapitaLand said on Thursday that it will hold an extraordinary general meeting or EOGM on its plan to list its shopping mall business. It is seeking approval for the proposed public offering of shares in CapitaMalls Asia. On Monday, CapitaLand announced that it is re-organising its retail unit by having CapitaMalls Asia hold its shopping mall business, including the retail real estate...
Mainboard-listed high-end property developer, SC Global, said on Wednesday it has sold six units of its project at Sentosa for record prices. The units of its Seven Palms Sentosa Cove development were sold at an average price of about S$11 million per residence, with prices ranging between S$3,100 and S$3,400 per square foot. These are higher than the previous peak of about S$2,734 per square foot for a...