PRICES of completed private apartments and condos rose 0.3 per cent in April 2016 over March 2016. This is according to National University of Singapore's (NUS) flash estimate for its Overall Singapore Residential Price Index for April released on Monday. This contrasts with a 1.1 per cent month-on-month (m-o-m) decline in the index in March, based on the revised index value for that month. The...
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CITY Developments Ltd (CDL) has said that the anticipated pricing for a potential residential profit participation securities (PPS) transaction will be "much higher" than the S$2,300 per square foot (psf) cited in a report in The Business Times on Friday, "given the intrinsic value of our assets". Responding to the report, the property developer added that it would make further announcements if and when...
OF the many innovative features for GEM Residences that its developers came up with, one particular scheme has ruffled the feathers of the housing regulator. BT understands that under a "specimen cheque scheme", the joint developers - Gamuda, Maxdin, and Evia Real Estate - issued cheques of S$7,500 or S$10,000 to prospective buyers who then submitted these for expressions of interest. The buyers could...
MARKING the second anniversary of property startup 99.co, co-founder and chief Darius Cheung on Thursday launched 99PRO, a "fast, simple, intuitive" app for real estate agents and homeseekers. Among the features it offers are an interactive map search with geolocation capabilities, unlimited floor plan access across all condominiums and HDB (Housing and Development Board) units, as well as historical...
CITY Developments Ltd (CDL) is said to be attempting its third profit participation securities (PPS) structure, this time involving a portfolio of 48 apartments in three projects in the Core Central Region completed earlier. The potential deal is seen as the latest instalment of the group's capital-recycling strategy. The 48 apartments - at Cliveden at Grange, St Regis Residences Singapore and One...
Singapore's property market may be closer to a bottom than Hong Kong, according to LaSalle Investment Management, which manages more than US$58 billion in real estate funds. Governments in Asia's two most expensive residential markets have imposed curbs in recent years to tame prices and improve affordability. As demand has dropped amid a slowdown in the region's economies, home prices in both cities...
THE Urban Redevelopment Authority (URA) on Wednesday released detailed sales conditions for a residential site at West Coast Vale. The 16,378-square-metre site, which can potentially yield up to 520 residential units, is available for application under the Reserve List of the first-half 2016 Government Land Sales programme. It has a 99-year lease and the permissible potential gross floor area is...
City Developments Ltd, Singapore's second-largest developer, may seek to buy offices this year as rising interest rates makes such assets cheaper worldwide. "We are coming into a very good time for acquisitions," Grant Kelley, chief executive officer of City Developments, said in an interview in Singapore. "The long-term trend line for assets for the next 12 to 24 months could be deflationary because...
Located in the same vicinity as some of Singapore’s most prestigious addresses. Minutes from the CBD, the hotbed of top banking institutions, global conglomerates and corporate giants, Forte Suites is truly a place where extravagance is more a norm, than an exception. A mere 7 minutes drive from Orchard Road’s sensational fashion and entertainment scene, Forte Suites is right in the heart of the...
THE Housing & Development Board (HDB) of Singapore on Tuesday launched 8,940 flats for sale under the May 2016 Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercise. There will be 3,770 BTO units and 5,170 SBF units across 25 towns and estates. The BTO units will be across four projects in the non-mature towns of Bukit Panjang and Sembawang, and another two projects in the mature towns of Ang Mo...