The hotel development site at Havelock Road has attracted nine valid bids at the close of tender on Tuesday. The Urban Redevelopment Authority said the top bid of S$30.09 million was submitted by I Hotel. This translates to a record land price of S$1,303 per square foot per plot ratio (psf ppr). The next three highest bids also reflect bullish sentiment with submissions ranging from S$26 million...
General
The draft masterplan detailing land uses and developments in Singapore over the next 10 to 15 years is due to be put up by year-end. And some property consultants are anticipating more detailed plans for the Woodlands Regional Centre and perhaps the rail corridor, among others. The masterplan is reviewed every five years with the last revision done in 2008. In 2008, the masterplan focused on...
A total of 50,841 non-landed private residential units were completed between 2008 and 2012. Over the same period, 47,273 dwelling units were completed by HDB, comprising 40,128 flats for sale and 7,145 flats for rental. The Urban Redevelopment Authority (URA) granted planning approval for the development of non-landed private residential units on 385 hectares (53 per cent) of land and public housing...
The Housing Development Board (HDB) received 27 cases of hoarding in flats over the past 12 months. Housing Minister Khaw Boon Wan revealed this in a written response to Member of Parliament Lim Biow Chuan, who asked if the government will take action to prevent fire hazards caused by excessive hoarding. Mr Khaw said that when HDB receives notices of hoarding, inspection officers will visit flats to...
Overall cash premiums for resale Housing and Development Board (HDB) flats continued to drop while demand for resale non-landed private homes remained weak in October, according to flash estimates from the Singapore Real Estate Exchange (SRX) released today (Nov 8). Overall HDB cash-over-valuations (COVs) dropped another S$3,000 last month to reach a median of S$12,000, the lowest since July 2009 when...
The impact of property cooling measures continued to be felt in the Housing and Development Board resale market last month, with cash-over-valuation (COV) premiums maintaining their downward spiral to a more-than-four-year low, raising the prospect that they will fall below S$10,000 by the end of the year. Overall median COVs dropped by another S$3,000 from September to S$12,000 last month, the lowest...
Demand for luxury homes in Sentosa Cove may be softening but it is not losing its shine just yet. Property experts said prices in Sentosa Cove are set to make a rebound, even hitting previous highs seen in 2008 before the global financial crisis. The upbeat sentiment came following a report by Colliers International on Tuesday which said Sentosa Cove properties are now cheaper than mass market...
Property prices in Malaysia's southern Johor economic region, also known as Iskandar, are expected to stabilise following property cooling measures announced in October's budget. With growth averaging 8 per cent a year, Iskandar has attracted over US$40 billion of investment since 2006. Property and manufacturing, accounts for 44 per cent of the total investment. Buoyed by foreign buying, especially...
The Urban Redevelopment Authority (URA) will be launching a hotel site at East Coast Road for sale by public tender. The authority said it had accepted an application from a developer for the site to be put up for public tender. The developer had committed to bid at a price of not less than S$160 million in the tender for the land parcel which is located at the junction of East Coast Road and Joo...
Touted as an enclave for the super-rich, Sentosa Cove "has lost some shine of late" after the 2008 global financial crisis and the raft of local property cooling measures in recent years, according to a report released by real estate company Colliers International. As a result, residential properties at the cove are now within reach of the mass market, the report said, with the difference in price...