National Development Minister Khaw Boon Wan says "plenty" of housing units are coming on stream, with about 200,000 units to be built by 2016. Of these, about 80,000 are private properties, 10,000 are Executive Condominiums and 110,000 are HDB units. Mr Khaw said this is equivalent to the building of four new Ang Mo Kio towns by 2016. He made the comments in a blog post, "Enough Homes for All", on...
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Channel NewsAsia understands authorities are conducting spot checks on at least seven property developers to find out if they have backdated their documents. It has been about a week since the latest round of property cooling measures kicked in. Among the changes is an increase in Additional Buyer's Stamp Duty of five to seven percentage points across the board. In a bid to help buyers avoid paying the...
Asking prices of private resale homes appear to be holding up right after the new cooling measures kicked in over the weekend. But some analysts said sellers may be forced to lower their expectations if sales volume stays thin and developers cut prices of new units in the market. Following the implementation of new cooling measures, some analysts have said the resale property market will be "quiet" or...
Luxury property prices in Singapore are not about to come crashing down following the latest government cooling measures. With demand for high-end properties already depressed, experts said the new policies will unlikely drag prices lower. Traditionally dominated by rich foreigners, the expected comeback of investors from China may prop up prices in this segment. With 34 out of 66 units at The Marq on...
More than 210 units were sold at Q Bay Residences at Tampines during its preview on Friday. The development is the first private residential project to be launched since the latest round of property cooling measures kicked in last weekend. The most popular units were the "one- to two-bedroom suites", followed by the three- and four-bedroom "Verandah Homes" for large families and the TRIO units. In a...
CapitaMall Trust Management on Friday said its distribution per unit (DPU) was up 2.6 per cent to 2.36 cents in the fourth quarter of 2012. For the full year, unitholders will receive a total of 9.46 cents for the fiscal year, compared to 9.37 cents in 2011. CapitaMall Trust Management said that for the fourth quarter of 2012, its distributable income grew 5.7 per cent to over S$79 million. For the full...
As public debate raged over the irony of Executive Condominiums (EC) priced at more than S$1.5 million being snapped up by buyers supposedly from the sandwiched class, Minister for National Development Khaw Boon Wan weighed in on the matter on Jan 7 in a blog posting titled "Who gets short-changed?" Although he started out by addressing oversized ECs and their prices, Mr Khaw quickly went on to the...
Warehouse operator Global Logistic Properties (GLP) said on Thursday it would exercise an option to sell three Japanese properties to Tokyo-listed GLP J-REIT for US$142 million (S$174 million), Dow Jones Newswires reported. The deal is part of a November transaction in which the Singapore-based company sold 30 Japanese warehouses to the real estate investment trust for 209 billion yen (S$2.8 billion), in...
Mapletree Logistics Trust (MLT) said on Thursday its distribution per unit for the fiscal third quarter rose 1.2 per cent, thanks to contributions from assets acquired last year and higher revenue from existing properties, Dow Jones Newswires reported. Unit holders will receive 1.72 Singapore cents per unit for the three months ended Dec 31, up from 1.70 cents in the corresponding period a year ago, the...
According to property analysts, home prices near the proposed new MRT lines are unlikely to increase in near future. Market watchers say the announcement of a new MRT line could generally prop up prices of homes in the area by 3 to 5 percent. But the response to the announcement of the expanded rail network on Thursday may be more muted. News of the new MRT lines would have generated more excitement...