A record supply of new homes will come on-stream into Singapore’s property market, with over 100,000 private housing units in the pipeline, said the Urban Redevelopment Authority (URA). AsiaOne reported that the upcoming residential supply will comprise 83,975 private homes, 9,824 executive condominiums (ECs) and 10,070 units from government land sites, either sold or slated for sale. The total is the...
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In a report by Channel NewsAsia, it is understood that the owners of the record-setting Heron Bay penthouse are a young couple, who are also first-time property buyers. The unit was sold for S$1.77 million - a high price for an executive condominium in Singapore. Couples cannot exceed a monthly household income of S$12,000 if they want to buy an executive condominium unit. Analysts say the buyers of the...
The startling headline this week on the front page of a newspaper pointed to more than 100,000 private housing units in the pipeline as at the end of the third quarter, a record high since data was collected more than a decade ago. The number included private housing supply of 83,975 units, 9,824 Executive Condominiums and an estimated 10,070 units that will be developed from sites sold or slated for...
Hong Kong may take further measures to control runaway property prices but the Asian financial centre is likely to avoid steps such as a capital gains tax which would be complicated, Hong Kong's leader, Leung Chun-ying, said on Thursday. Mr Leung's government imposed a 15 per cent tax on non-resident and corporate buyers of property late last week and speculation has been rife that further curbs will be...
Property developers sentiment showed moderate improvement in the third quarter compared to the previous quarter. This is according to the REDAS-NUS Real Estate Sentiment Index (RESI) Survey for the third quarter of this year. The Composite Sentiment Index, the indicator for overall real estate market sentiment in Singapore, stood at 4.9 in Q3 compared to 4.7 in Q2. The current sentiment index stood at...
Asia's largest logistic facilities provider, Global Logistics Properties (GLP), will contribute 30 properties in Japan to set up a real estate investment corporation in Japan (J-REIT). The properties are worth US$2.6 billion (S$3.2 billion) and GLP expects to raise a net US$1.3 billion (S$1.6 billion) from the sale of the assets. In a statement on Thursday, GLP says the proceeds will be used primarily...
Grade A offices in areas like Shenton Way and Raffles Place are now looking more attractive to Singapore firms. Experts said companies are taking advantage of cheaper rentals, as well as more space made available by large multi-national firms moving into the Marina Bay Financial District. IT marketing firm Sapient said they struck a pretty good deal for their current space at Cecil Street. After...
JTC Corporation on Wednesday launched the sale of three industrial land parcels for public tender. The sites are located at Woodlands Avenue 10 and Tuas South Street 8. Measuring 1.07 hectares, the plot off Woodlands Avenue 10 has a lease term of 30 years and a maximum permissible gross plot ratio of 2.5. Tan Boon Leong, executive director for industrial services at Colliers International said the site...
While Singapore’s residential leasing market cooled in September, leasing volume and median rents for Q3 still peaked at record highs, according to data from the Urban Redevelopment Authority (URA) and Savills Research & Consultancy. Last quarter, leasing volume hit a new historical high of 14,029 leases, surpassing the previous record of 13,028 in Q3 2011. With 37,668 leases already transacted in...
A new record price psf of land area has been set after a Sentosa Cove bungalow was sold for S$32.5 million, or S$3,214 psf on the land area of 10,111 sq ft. The Ocean Drive property was reportedly bought by a Malaysian citizen from a Singaporean investor, noted The Business Times. This latest deal breaks the record set by another Sentosa Cove home sold for S$28.2 million, or S$2,989 psf on a land area of...