An executive maisonette in Hougang has been sold with a record Cash-Over-Valuation (COV) of S$225,000, about five times the average COV paid for such properties. COV is the cash premium buyers pay for a resale HDB flat. The flat is located at Block 237, Hougang Street 21. According to property portal SRX, the 148 square-metre maisonette was sold on October 16 for S$900,000 including COV. Property...
General
Although it is still early days, many property market watchers are coming to the conclusion that the latest round of Government cooling measures - curbing the tenures of home loans - is having little or no impact. Some have described them as "very disappointing". Even the knee-jerk reaction that accompanied the previous rounds of cooling measures was missing. Show flats were packed the day after the Oct...
Neptune Orient Lines has sold its head office, the NOL Building at 456 Alexandra Road, to the Fragrance Group for S$380 million. It is the largest sale of a decentralised single commercial asset in Singapore this year, said Jones Lang LaSalle which brokered the sale to Fragrance Regal Pte Ltd. NOL said in a statement to Singapore Exchange the divestment will enable it to "release capital for strategic...
Village - a low-rise condominium situated on 2.35 acres of freehold land located at Pasir Panjang Road, Singapore. It is located minutes away from Kent Ridge & Haw Par Villa MRT Stations, making traveling a breeze around the island. Village strives for tranquility and calmness, qualified by space, light and structural order. Space interact with lush gardens, water courts and air wells, engineering a...
Singapore’s residential segment has seen relatively fewer investors in recent years, following several rounds of cooling measures, revealed data from Credit Bureau Singapore. From 38 percent in 2010, only 33.5 percent of investors with existing home loans took out new mortgages last year, The Straits Times reported. The figure declined to 31.8 percent in the first eight months of 2012, and analysts...
Singapore’s real estate agency industry is set to become more competitive with the announcement that Colin Tan, widely considered Singapore’s top real estate sales trainer, will soon launch his own agency. Called District 65, the firm will comprise a team of highly trained sales agents who will undergo the ColinTan Training & Consultancy (CTTC) “Becoming a Million Dollar Realtor”...
To address the needs of Singapore’s lower-income families, the government will build some 2,000 rental flats starting next year, reported The Straits Times. This is part of the government’s plan to deliver 57,000 rental flats by 2015, in response to growing demand. A spokesperson from the HDB said it is “on track” to meet the government’s target of 50,000 rental flats by this year. The 2,000...
Dynasty REIT's planned initial public offering (IPO) in Singapore has been suspended. ARA Asset Management, the sponsor of the real estate investment trust (REIT), said the S$1 billion (5.41 billion yuan) IPO would not proceed due to worsening market conditions. According to ARA, there has been a marked change in investor sentiment given the after market performance of several IPOs. Fund managers...
Property group CapitaLand has set up a housing private equity fund that will invest in value housing developments in China. The company said in a statement that the CapitaLand China Value Housing Fund (CCVHF) was successfully closed at US$215 million (S$264 million). CapitaLand's wholly-owned unit, CapitaValue Homes, has a 58.6 per cent stake in the fund, totalling up to S$155 million. Meanwhile, other...
The Housing & Development Board (HDB) has been conferred six prestigious industry awards. Five projects -- My Waterway@Punggol, Punggol East, Greenwood Sanctuary@Admiralty, Casa Clementi and Ghim Moh Valley -- won the International Real Estates Federation (FIABCI) Singapore Property Awards 2012. My Waterway@Punggol also clinched the Institution of Engineer Singapore (IES) Prestigious Engineering...