Singapore real estate investment trusts (S-REITs) continue to attract investors as they provide better returns than most of their regional peers while also outperforming stock market returns, according to a report by Asia Pacific Real Estate Association (APREA). Findings of the report, which analyzed seven REIT markets in Asia up to April 2012, indicate an average 6.39 per cent dividend yield from...
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Buyers of 60-year leasehold properties might find it a challenge to apply for loans. While some banks are willing to lend, potential buyers may have to borrow less or pay off these loans faster. But analysts said banks may have to re-think their home loan strategy as more of such sites make their way into the market. The land at Jalan Jurong Kechil, which closed tender on November 15, will be the first...
The tender for a hotel site at Jurong Town Hall Road has attracted 11 bids. According to the Urban Redevelopment Authority (URA), the top bid was submitted by Tamerton Pte Ltd, a subsidiary of Genting Singapore. The firm had put in a bid of S$238.2 million, which translates to S$12,565.28 per square metre of gross floor area. The other ten bids lodged range from S$204.8 million to S$128.7...
The Urban Redevelopment Authority (URA) has launched the exhibition – Sino-Singapore Tianjin Eco-city: Model for Sustainable Urban Development – to showcase joint efforts between Singapore and China in building a sustainable city. Organised by URA in collaboration with the Sino-Singapore Tianjin Eco-City Investment and Development Co. Ltd (SSTEC), with support from the Eco-City Administrative...
Foreign buyers of Singapore properties accounted for 7 percent of the market in the third quarter this year. The proportion had remained unchanged from the previous second quarter. However, for the first three quarters of the year, foreign purchases averaged about 6 percent. This is according to the latest report on demand for Singapore's residential properties in Q3 by property consultant DTZ. The...
Luxury properties continue to see high demand in South East Asia. With global markets being flushed with cash, experts say more are looking at investing in high-end properties that's worth more than US$5 million. New luxury homes now come with an added touch of class and developers are introducing even more innovative features in such properties. Costing an average of about S$3,500(US$2,800) per square...
The latest restrictions on home loan tenures will likely boost demand for lower-priced non-landed private homes, or those under S$1.5 million, according to a report by Knight Frank. The cooling measures are expected to impact affordability. For instance, a 35-year old home buyer with a S$12,000 monthly income can now afford a home priced as much as S$1.5 million to S$1.6 million on a 30-year loan,...
Earlier this month, the Singapore Democratic Party released a housing policy paper proposing a new class of flats that it envisaged could be priced significantly lower than new Build-To-Order (BTO) flats offered by the Housing and Development Board (HDB). This is because these "non-open market" (NOM) flats would be priced only to recover the cost of administration and construction, and not the cost of...
The Urban Redevelopment Authority (URA) received 23 bids at the close of tender for the residential site at Jalan Jurong Kechil on Thursday. Property consultants said this is the highest number of bids received since the 32 bids submitted in the tender for the Westwood Avenue residential site that closed in December 2009. World Class Developments (North) Pte Ltd - a subsidiary of SGX-listed firm Aspial...
Singapore-listed Global Logistics Properties (GLP) says it will raise S$414.4 million (US$339 million) in gross proceeds by issuing new shares through a private placement. GLP will issue 160 million new shares at S$2.59 to partly fund its acquisition of Brazilian logistic assets. The company said on Wednesday that it would form joint ventures with the Canada Pension Plan Investment Board, China...