Plans to raise property tax rates for foreign home buyers in Johor at the end of the year appear not to deter Singaporeans from buying units at the Afiniti Residences in Medini Iskandar Malaysia. It is a joint venture between Khazanah Nasional and Temasek Holdings. Singaporeans made up 25 percent of the buyers. All 147 units were snapped up during Saturday's launch. Malaysians accounted for 72...
General
Afiniti Residences in Medini Iskandar Malaysia, a joint venture between Khazanah Nasional and Temasek, has been sold out on the day of its launch. The developer said 25 per cent of the buyers are Singaporeans and 72 per cent of the buyers are Malaysians. Prices started from RM500,000 for a studio apartment to less than RM1 million for a 2+study unit, or RM850 to RM1,000 per square foot. The...
Raffles Medical Group announced that it has appointed Jones Lang LaSalle Property Consultants to advise and manage the sale of its commercial property at 30 Bideford Road. Raffles Medical bought the building in 2011 for S$92 million. Located at Bideford Road off Orchard Road, the seven-storey commercial podium of Thong Sia Building is owned by Raffles Medical Management, a wholly-owned subsidiary of...
Prices of resale private homes softened in May as the government's cooling measures continued to dampen the market. Non-landed private residential units showed an overall price drop of 0.5 per cent in May compared to April, according to data from major property agencies compiled by the Singapore Real Estate Exchange (SRX). Prices of resale non-landed private homes in the city area dropped 0.5 per...
The overall median cash-over-valuation (COV) for resale HDB flats last month was the lowest in 10 months, with analysts saying it could drop further. The overall median COV dropped by S$4,000 to reach S$26,000 in May, the lowest level since last July. Resale prices also showed signs of stabilising and were down 0.1 per cent, according to data from major property agencies compiled by the Singapore...
Balance flats are proving to be the most popular choice in the Housing and Development Board's (HDB) latest sales launch. As of 5pm Wednesday, HDB received close to 20,000 applications for 3,100 units offered under the Sales of Balance Flats (SBF) exercise. This works out to more than six applicants for each unit. With their central city location and expected high returns in the resale market, the...
The resale private home market is set for a rebound after a drop in transaction volume in the first quarter following the introduction of more cooling measures in January, with sales potentially doubling in the second quarter from the previous three months, according to property analysts. SLP International Property Consultants estimates between 3,600 and 4,300 units of both completed and uncompleted...
One of the new private condominiums put up for sale during the weekend sold like hotcakes. City Developments put up 280 units of Jewel at Buangkok for sale at a preview launch on June 1. Some 73 per cent of these units were sold. About 16 per cent of buyers were foreigners or PRs from Malaysia, China, Indonesia, Taiwan, Hong Kong, Australia, USA and Japan. Early bird discounts meant the units cost...
There has been strong demand from Singapore for a residential development in Iskandar that is being constructed by Pulau Indah Ventures (PIV), a 50:50 joint venture between Temasek and Khazanah Nasional. According to a statement from the developer, out of the 1,570 applications for Afiniti Residences, around 500 have come from Singapore. Afiniti Residences is a 147-unit premium strata residence...
Property developer Overseas Union Enterprise (OUE) has received approval from the Singapore Exchange (SGX) to list a hospitality-focused real estate investment trust (REIT). In a filing with the SGX, OUE said the REIT manager plans to appoint real estate veteran Chong Kee Hiong as chief executive officer and executive director. Mr Chong is the former CEO of The Ascott, the serviced apartment arm of...