National Development Minister Khaw Boon Wan said strong demand for residential property in Singapore is likely to persist, as interest rates stay low. In a question to the minister in Parliament on Monday, MP Foo Mee Har cited the case of a flat in Queenstown which was sold for S$1 million. Mr Khaw said from time to time, some buyers are prepared to pay way above market valuation but these are...
General
26,800 Housing and Development Board (HDB) flats and 22,400 non-landed private housing units are projected to be completed in 2014. The numbers are significantly higher than those projected for this year -- 11,300 HDB flats and 12,500 non-landed private housing units are expected to be completed in 2012. The National Development Ministry revealed these figures in a written response to questions posed by...
The government is releasing five residential sites for sale in October 2012 which will yield about 2,880 units. These include two Executive Condominium (EC) sites and three residential sites. In a joint statement, the Housing & Development Board (HDB) and the Urban Redevelopment Authority (URA) said this is to provide developers and home-buyers with more choices for private housing. The site at...
Demand for new private homes jumped by 84 percent in September from August, led mainly by a strong rebound in the mass market segment. According to the Urban Redevelopment Authority (URA), 2,621 new private homes, excluding executive condominiums, were sold in September. The 2,621 new units sold in September is the second highest amount since 2,772 units were sold in July 2009. Analysts see this as a...
Valuers will get a better sense on the worth of a building's energy-saving features with a new guideline. The guideline will be published by the Singapore Institute of Surveyors and Valuers (SISV) in its revised edition of Valuation Standards and Practice Guidelines, expected to be launched this November. The Building and Construction Authority (BCA) said on Friday that the methods of valuation will...
The consensus among property watchers appears to be that older buyers will be worst hit by the new home loan curbs, especially those in their 40s and 50s, but the impact of the latest cooling measures will likely be felt more acutely in the resale market. Certainly, the mathematics will show older borrowers to be at a disadvantage, everything else being equal. But everything else is not equal. The...
The real estate investment sales market in Singapore surged 19.6 per cent in the third quarter from the previous three months, recording a total transaction value of almost S$9 billion, the highest quarterly total seen since the first quarter of last year, property consultancy Savills said yesterday. The residential segment recorded S$3.7 billion of transactions in the investment sales market, up 26.7 per...
Sales of new private homes have been brisk in the past year for projects in neighbourhoods like Pasir Ris and Punggol. And some industry players said the Hillview area, located in the western part of Singapore, could be the next up-and-coming spot with more projects lined up. The Hillier - a mixed development project at Hillview Avenue - is one of several new offerings in the area. It has seen strong...
A land site for hotel or mixed use development at Victoria Street/Jalan Sultan received nine bids at the close of tender on Thursday. Placing the top bid was Forward Land at S$331.37 million. Based on maximum gross floor area GFA of 30,977 square metres, the bid works out to S$10,696.19 per square metre of gross floor area. The top bid is also 9.1 per cent higher than the second bid which came from a...
Overseas buyers can now own a piece of luxury at coveted integrated residential and commercial address in lskandar Malaysia Walker Corporation, Australia's leading private property developer, today announced the official launch of The WaterEdge Apartments, the first phase of luxurious apartments within Walker Corporation's acclaimed master-planned Senibong Cove development, the first of its kind in...