Last week, a Housing and Development Board (HDB) executive flat in Queenstown was sold on the resale market for a new record price of S$1 million, the first time that the magical number was achieved for public housing. The deal broke the previous record reached only a week earlier, when a Bishan executive maisonette was sold for S$980,000. While the price tags may have raised eyebrows, it was a long time...
General
The Urban Redevelopment Authority (URA) closed the tender for the residential site at Prince Charles Crescent today. A total of eight bids was received with the top bid coming in at about S$516.3 million or S$960 per square foot per plot ratio by Wingstar Investment, Metro Australia Holdings and Maxdin Pte Ltd.. Wingstar Investment is a wholly-owned subsidiary of Wing Tai Holdings and Maxdin is a...
Following the suspension of the Design Build and Sell Scheme (DBSS) last year, more than 1,000 flats have been left unsold as buyers turn to Build-to-Order (BTO) flats, reported The Straits Times. The slowdown in demand for pricier DBSS units was attributed to the surge in supply of BTO flats which also have a monthly income ceiling of S$10,000. While some DBSS launches have enjoyed healthy sales, others...
Singapore-listed property developer Overseas Union Enterprise (OUE) said it has been approached by some potential buyers for its Mandarin Orchard Singapore hotel and the adjoining Mandarin Gallery mall. In a filing on the Singapore Exchange on Wednesday, OUE said it has offered an unnamed potential buyer exclusivity to conduct preliminary due diligence on the two properties. The developer added that it...
The 748-unit eCO development, the first private residential project to be launched in the Bedok South area after 30 years, has seen strong interest ahead of its official launch, with close to 600 registrations of interest. Developed by a consortium comprising Far East Organization, Frasers Centrepoint and Sekisui House, the development boasts an innovative and ecological design, based on the theme “In...
The Urban Redevelopment Authority (URA) has launched the residential site at Jalan Jurong Kechil and the hotel site at Jurong Town Hall Road for sale by public tender today. The land parcel at Jalan Jurong Kechil was made available for sale through the Reserve List system on 13 November 2006. On 5 September 2012, URA announced that it had received an application from a developer to put up the land parcel...
Preparations for Singapore's Formula One Grand Prix this weekend have kicked into top gear. And hotels around the circuit area said interest remains high despite it being the race's fifth year. Hotels that command prime views are also making sure their guests have everything to make their experience enjoyable. A check with several hotels around the circuit area revealed occupancy is around 95 per cent...
The overall property price index grew 0.4 percent in Q2 2012 following a 0.1 percent decline in Q1, according to data from the Urban Redevelopment Authority (URA). This was mainly attributed to strong recovery of completed non-landed property prices, which was up 2.3 percent. However, prices of uncompleted non-landed homes slipped 0.9 percent in Q2, indicating a moderation of current high prices as the...
The Urban Redevelopment Authority (URA) closed the tender for the residential site at Dairy Farm Road today. The site at Dairy Farm Road was launched for sale by public tender on 23 July 2012. The 188,861-sq-ft site has a maximum gross floor area of 396,618 sq ft and is expected to yield 390 condominiums or flats. A total of 9 bids were offered for the 99-year lease site. The top bid comes from First...
Singapore could introduce a new round of property measures to curb home prices following the US government’s third round of quantitative easing (QE3) that is expected to drive a fresh wave of capital into the city-state, according to The Business Times. The decision by the Federal Reserve to inject US$40 billion into the US economy each month until sustained job growth is achieved may be seen as good...