Developers and their marketing agents for recent property launches must have heaved a sigh of relief as investors returned in droves to the private housing market. Dogged by weak sentiment in the previous three months, many sellers have been losing sleep trying to face up to a market that they believe has reached that dreaded turning point — with prices going downhill henceforth. If feedback to the...
General
The move to set aside three prime areas for private housing development under the Urban Redevelopment Authority’s (URA) Master Plan makes economic sense and is consistent with the Government’s vision for these areas outlined previously, property analysts said. Under the URA’s Draft Master Plan 2013, which was unveiled yesterday, Marina South, Kampong Bugis, which is near the Kallang River, and a...
The Urban Redevelopment Authority (URA) has launched a hotel site at East Coast Road for sale by public tender. With a gross floor area of about 24,716 square metres, the land parcel is located at the junction of East Coast Road and Joo Chiat Road. The 99-year leasehold plot also contains the former Joo Chiat Police Station, which shall be restored as part of the future hotel development. The...
Hutchison Whampoa, the conglomerate controlled by Mr Li Ka-shing, Asia’s richest man, has sold a house in Hong Kong’s Victoria Peak for HK$740 million (S$119 million). The 6,863 sq-ft house at the seven-home, 28 Barker Road project was sold to an unidentified buyer, according to the developer’s website. The price is the second-highest paid in the city after a house on Pollock’s Path in The Peak...
Singapore's Balestier area is lining up to be the next hot spot to own a private property. The area, popularly known as the lighting centre of Singapore, has now taken a new facade with several new developments coming up. One of them is the new Zhongshan Park Integrated Development that was launched on Monday, which includes a mall, an office tower and two hotels. Analysts told Channel NewsAsia...
While the concentration of executive condominiums (ECs) in the north-east region of Punggol and Sengkang has not hurt current demand, analysts warn that buyers may face challenges when they want to resell their units after meeting the minimum occupation period. Eight EC projects currently under construction in the region are expected to be completed within the next five years. This means that close to...
Real estate consultants said the draft master plan unveiled by city planners Urban Redevelopment Authority (URA) on Wednesday is not likely to trigger any knee-jerk reaction in the residential property market. However, they said areas like Holland Village and Jalan Kayu could see some price upside in the next few years when the new developments are starting to take shape. The new extension at Holland...
The Urban Redevelopment Authority's (URA's) Draft Master Plan offers a good balance between Singapore's economic and social needs, analysts said. But they also pointed out possible areas of concern, such as the potential over-development of certain areas, which could affect their original character. Holland Village is known for its quaint shophouses, restaurants and bars. And its unique character...
Singaporeans can expect some 15,000 new homes in central Singapore, more commercial hubs outside the city centre, and a new waterfront area in the future. These are some of the plans laid out in the Draft Master Plan 2013. The plan guides Singapore's development in the medium term and is reviewed every five years. It was launched on Wednesday by the Urban Redevelopment Authority (URA). New...
More executive condominium (EC) land sites are expected to be offered on the confirmed list as part of the Government Land Sales (GLS) Programme. Analysts said EC units make up some 2,800 of the 6,000 residential units on the confirmed list for the second half of 2013. And this proportion is expected to rise to meet firm demand in the EC market. The EC market has seen healthy demand in recent...