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Summer Green off Balestier Road is the latest condo to launch for collective sale with a reserve price of S$48 million. That translates to a land rate of approximately S$1,178 per square foot per plot ratio (psf ppr), inclusive of a development charge of approximately S$320,000, for the freehold site with 24 units. With that, owners at the 13-storey condo could net themselves about S$2 million per...

Developers may trim prices of new launches by as much as 10 per cent from their earlier indications in response to the latest round of property cooling measures, with high-end homes likely to see bigger adjustments, analysts say. In downgrading their stock ratings across several developers, some have started pricing in a 5-10 per cent reduction in average selling prices (ASP) in their forecasts, though...

Ascendas Hospitality Trust has on June 15 entered into an agreement with ES-CON Japan via Ascendas Hospitality Real Estate Investment Trust (A-HReit) to acquire three hotels in Japan’s Osaka city for a purchase consideration of 10.29 billion Japanese yen (S$126.1 million). The manager of the hospitality trust said that the acquisition of the three hotels, Hotel WBF Kitasemba West, Hotel WBF Kitasemba...

The latest round of property cooling measures may have caught the market by surprise with its speed and severity, with an analyst describing it as "a sledgehammer to kill a fly". However, the warning signs were there: High land prices, a jump in the number of new housing loans, and a wage growth lagging behind economic expansion were some of the red flags which prompted the authorities to take...

The Housing and Development Board (HDB) resale market could see a slight increase in interest from buyers hard-pressed to buy a private property after new cooling measures were introduced last week, but the overall demand is unlikely to be substantial enough to make much of an impact on the market, analysts said. In a surprise announcement on Jul 5, the Government raised Additional Buyer's Stamp Duty...

Three families who are unrelated have sold adjacent bungalows collectively at a price of S$37.89 million. The bungalows are located in District 15 Lorong H Telok Kurau. The freehold bungalows are single-storey and together have 24,050 sq ft land area. Taking into account the development charges payable the developer would have to bear land rate of S$1,132 psf ppr. If the 10% balcony bonus is taken...

The local property market will see some slowing on the back of surprise cooling measures though a crash is unlikely, said the top executives from some of Singapore’s biggest developers. However, the chief financial officers of GuocoLand Group and CapitaLand Group differed on whether the Government’s latest step, which involved tweaks to Additional Buyer's Stamp Duty (ABSD) rates for both buyers and...

The local construction sector, which has been showing signs of bottoming out, could find itself on shaky ground again following the latest property cooling measures, some economists said. Advance estimates from the Ministry of Trade and Industry (MTI) on Friday (Jul 13) showed the industry shrunk by 4.4 per cent year-on-year in the second quarter, as weakness in private sector construction activities...

According to market sources, Allianz is understood to have entered into a lease at ASB Tower, the new development coming up on the former CPF Building site in Robinson Road, at a gross signing rental of around S$11.50 per square foot (psf) a month. The deal is said to reflect a gross effective rent of close to S$10 psf a month after taking into account the rent-free period and other...

Marina One Residences is part of a landmark mixed-use development (Marina One) at an enviable location at Marina South – a district designated as a high growth area to establish a global business and financial hub by Singapore’s Urban Redevelopment Authority. Be at the heart of the city and centre of it all. With links to four out of six major MRT lines and expressways, Marina One Residences is...