Resale prices of completed non-landed private homes in Singapore fell at a faster pace last month, with weakness across all categories as evidence builds that the Government’s efforts to cool the housing market are working. The Singapore Residential Price Index fell 1.2 per cent to 159.1 points last month from a revised 0.9 per cent decline in September, the National University of Singapore said...
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Companies controlled by Mr Li Ka-shing, Asia’s richest man, have slowed land purchases in Hong Kong and China, as prices have escalated to what he said are unhealthily high levels. “Land prices in Hong Kong are high and already showing signs of an unhealthy situation. Land prices in China have surged, and we’re unable to win auctions for land,” he said, according to a statement yesterday from...
Property developers may be taking a more “conservative” stance when bidding for land, said analysts after the Urban Redevelopment Authority (URA) closed the tenders for two private residential sites at Upper Serangoon View yesterday. The adjacent land parcels attracted eight bids each, with Kingsford Development, owned by Chinese nationals, coming in top for both sites at S$258.8 million and S$201.6...
Wheelock & Co, a Hong Kong-based real estate developer and parent of the city’s Wharf Holdings and Singapore’s Wheelock Properties, yesterday said its billionaire Chairman Peter Woo, 67, will step down and his son will take over the role. Mr Douglas Woo, who was appointed as Managing Director effective July 1, will start as Chairman on Jan 1, according to a filing to the Hong Kong Stock Exchange. Mr...
JTC Corporation (JTC) on Friday launched a plot of land in Woodlands Industrial Park E9 and another three at Tuas South Streets 11 and 13 for sale by public tender. JTC said all four sites are zoned for Business-2 development which means the area may be used for industry, warehouse, utilities and telecommunication purposes within a prescribed nuisance buffer zone. The 18,394.1 square-metre site at...
Prices of resale private homes continued to soften in October. According to the flash estimate of the NUS Singapore Residential Price Index (SRPI), overall resale private home prices dipped 1.2 per cent last month. This is compared to a 0.9 per cent on-month decrease in prices in September. The SRPI showed that resale prices for private homes in the central areas fell 1.4 per cent while those...
Kingsford Development submitted the highest bids for the two 99-year leasehold private residential sites at Upper Serangoon View. The two adjacent plots were put up for sale under the batch tender closing system, aimed at ensuring more prudent bids from developers. The Urban Redevelopment Authority (URA) said the first plot, Parcel A, attracted a total of eight bids. Kingsford Development placed...
The Housing and Development Board (HDB) launched 8,952 flats on Tuesday for sale in a mix of mature and non-mature estates. In a statement issued on Tuesday, HDB said its joint Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercise for this month is its largest so far. Among the BTO flats launched for sale on Tuesday are 112 three-generation (3Gen) BTO flats at Boon Lay View. Also included...
Market watchers have said that price cutting among developers on new project launches will likely lead to a drop in private residential prices in the fourth quarter. If so, this would be the first quarterly decline since the second quarter of 2009. They added that the price war is also setting in in the resale market. Duo Residences in Bugis is one of several projects that are expected to push...
Straits Trading, an investor in Singapore’s biggest publicly traded property trust manager, is planning “Blackstone-like” funds as Asia’s appetite for real estate investments increases. Straits Trading last month invested in Singapore-listed ARA Asset Management, the property trust manager partly owned by billionaire Li Ka-shing, and set up a joint venture with ARA’s CEO John Lim to invest in...