Rising private home prices may spell further policy risks amid the hot property sector, noted Colliers International. Flash estimates by the Urban Redevelopment Authority (URA) show that private home prices increased 1.8 percent quarter-on-quarter in Q4 2012, capping the year which saw an overall 2.8 percent rise. This brings prices to an all-time high since the 2009 fiscal crisis. This is still slower...
General
Analysts expect the bumper supply of homes this year to provide more choices, especially for singles and families, reported The Straits Times. Aside from meeting demand, the government’s ramped up supply of about 20,000 new flats for 2013 aims to cool the resale market. Meanwhile, land sites marked for release could yield 14,000 private homes, including 3,100 executive condominium (EC) units in the...
Home prices in the United Kingdom declined last month and may fall "modestly" this year because of a weak economic recovery, Nationwide Building Society said yesterday, but the London market that is popular with Singaporean and other Asian investors stayed resilient. The average cost of a home slipped 0.1 per cent to £162,262 (S$ 321,900) in December from the previous month, the UK lender said. From a...
Average home prices in China's 100 major cities edged up 0.03 per cent last month from December a year earlier, snapping eight months of decline and reinforcing signs of a property market recovery in Asia's largest economy, a widely-followed survey showed on Friday. The data from the China Real Estate Index System (CREIS) added to evidence that the real estate market has found support from broad monetary...
Rentals for private homes may have hit record prices and volume in 2012, but some market experts said the market will be slower in 2013. Median rents as of October 2012 has reached S$3.75 psf, 14.3 per cent higher than the S$3.28 psf in Jan 2011. Commodities trader Pushkar Jamnerkar will be looking to work and live in Singapore with his family for the second time. However, property prices have spiked...
CDL Hospitality Trusts on Friday announced that it is buying the Angsana Velavaru resort in the Maldives from Banyan Tree Holdings for US$71 million (S$86.8 million). This marks the trust's first resort acquisition and a new geographic market segment. As part of the sale and leaseback agreement, CDL Hospitality Real Estate Investment Trust will grant a lease for the resort to Banyan Tree Holdings for 10...
The average number of penthouse units in executive condominium (EC) projects has climbed slightly in the past year, according to market watchers. The sale of a luxury penthouse recently has triggered a debate over the role of ECs. Some analysts have told Channel NewsAsia that while ECs are still relevant, some rules could be tweaked. ECs were introduced in 1995 and its objective is to provide...
A land parcel at 13/15 Wilkie Terrace has been sold to Roxy-Pacific Holdings for S$24.5 million. Its marketing agent, Jones Lang LaSalle, said the plot located off Dhoby Ghaut/ Selegie Road has been sold to a subsidiary of Roxy-Pacific Holdings in a private treaty deal. Jones Lang LaSalle added that the sale price of S$24.5 million reflects a land rate of S$1,259 per square foot per plot ratio based on...
Guang Ming Industrial Building, located at No 65 Upper Paya Lebar Road, has been put up for collective sale. The freehold industrial 'white site' has a land area of 19,789 square feet. Its marketing agent Cushman & Wakefield says the site is expected to fetch more than S$58 million. Among the likely interested parties for the site include small to mid-sized developers and those companies looking for...
Southeast Asia's largest property developer CapitaLand is reassessing its investments in India, Middle East and London. The company may divest some of its investments in office, commercial and residential properties in these three locations. CapitaLand says it now plans to focus on Singapore and China markets. Making his first major move since taking over the helm at CapitaLand, new President and Group...