Prices of new private home launches usually set the benchmark for resale properties in the area. But it seems that discounts offered by developers of major properties in the city since the fourth quarter of last year may not have spoilt the market yet. Buyers who bought units at D'Leedon near Farrer Road and Interlace at Alexandra Road in the fourth quarter last year could have enjoyed discounts of up to...
General
Transactions likely to have been inflated by buyers ‘rushing to complete purchases before the measures took effect’ The first collated property sales data for January suggests the latest round of cooling measures introduced last month may have had limited immediate impact, but analysts are cautioning it is still far too early to draw any firm conclusions about how the market is reacting. According to...
Resale prices of non-landed private residential units inched up 0.6 per cent in January, compared to December 2012, according to flash estimates released by the Singapore Real Estate Exchange (SRX). SRX compiles data from 11 top property agencies in Singapore. A rush to buy properties to beat the latest round of cooling measures pushed demand higher and raised prices last month. Tough property cooling...
Property giant United Industrial Corp (UIC) on Friday reported annual net profit doubled even as revenue fell, helped by a surge in fair value gains on the group’s investment properties. For the year ended Dec 31, UIC earned S$391.6 million, including a S$247.3 million revaluation gain, while revenue slumped 12 per cent to S$711.5 million. Turnover fell mainly due to lower revenue from hotel operations,...
Global Capital & Development (GCD), the lead investor of Medini in Iskandar Malaysia's Nusajaya development zone, says the region has attracted some S$2 billion in investments from Singapore since 2006. GCD says investment from Singapore in Iskandar Malaysia is set to soar; Singapore is already the single largest foreign investor in the region. Link (THM) Holdings, a Singapore developer, is the...
Developer says foreigners will be attracted to resort projects in places like Hua Hin, Phuket Thailand’s Sansiri Group, one of the country’s largest developers, is looking to sell more homes to Singaporeans and other foreigners as the Thai property market recovers from the devastating effects of last year’s floods. “Prices here are so much cheaper than in Singapore and we have a lifestyle here...
Shopping mall developer and operator CapitaMalls Asia announced on Thursday a 10 per cent on-year decline in its fourth-quarter net profit. The company attributed the drop mainly to lower fair value gains from investment properties in China and Singapore, as well as impairment losses in India and higher finance costs. Net profit for the quarter fell to S$184.8 million from S$205.4 million a year...
Housing undersupply could become a thing of the past as the government has pledged enough HDB flats for all Singaporeans, even as the population is projected to reach 6.5 to 6.9 million by 2030. In Parliament yesterday, National Development Minister Khaw Boon Wan stated that about 200,000 new units are currently being built and will likely be ready in four years. “We will continue to launch more BTO...
Singapore property developers will face tougher regulations if a proposed amendment to the Housing Developers (Control and Licensing) Act is enacted into law. The Bill aims to protect the interests of buyers purchasing uncompleted units, and will force developers to publish details of discounts, stamp duty reimbursements and incentives given to home buyers. It will also see greater regulation of show...
Global Logistic Properties (GLP) has reported a 31 percent on-year rise in third quarter net profit to US$113 million. The logistic facilities provider benefited from a strong lease-up of development projects as well as rental growth in China. Group revenue rose 20 percent year-on-year to US$174 million in the three months ended December Mr. Ming Z. Mei, Co-Founder and Chief Executive Officer of GLP,...