Property developer Far East Organization sold 2,200 new homes in Singapore during the first five months of the year. This includes suburban projects such as The Hillier in the northwest and Watertown in the northeast. According to a media report, projects by Far East helped lead the rebound in home sales this year, with Watertown in Punggol accounting for over 50 percent of the 1,872 units sold in...
General
National Development Minister Khaw Boon Wan has described the application rate for the May BTO as "quite encouraging". He said in his blog on Tuesday evening that as at 5 pm, the overall application rate is 2.5. He said based on the responses in the recent Build-to-Order (BTO) launches, first-timers are enjoying a high chance of getting their first homes while chances for second-timers have improved...
Sengkang saw the greatest interest at the close of May's Build-to-Order (BTO) flats applications. The first timer application rate for four-room units at Sengkang's Compassvale Boardwalk was 3.8. Five-room units saw 2.9 first timer applicants per flat. Kallang-Whampoa was the second most popular area, with 2.8 first timer applicants applying for a four-room unit. A total of 11,410 applications were...
The Urban Redevelopment Authority (URA) closed the tender for the residential site at Pasir Ris Drive 3 today. The site at Pasir Ris Drive 3 was launched for sale by public tender on 16 April 2012. The site was offered for sale on a 99-year lease. The site area is of 22,317 m2 and the maximum permissible GFA is of 46,867 m2. A total of 5 bids were presented. The highest tenderer is Capital Development...
Housing supply will likely hold firm in the second half of this year as developers continue to be active in the Government Land Sales (GLS) Programme. According to Chia Siew Chuin, Director of Research & Advisory at Colliers International, an additional 28 to 30 new residential sites will likely be added to the confirmed and reserve lists, which could yield up to 14,000 homes. “The government...
Hong Kong's property market faces great corrective pressure amid threats from the euro zone crisis and macroeconomic volatility, causing uncertainty for home buyers, Financial Secretary John Tsang said on Monday. Mainland China has seen the world's fastest-growing prices over the last five years, up 111 per cent through the end of last year, with Hong Kong in second place at 94 per cent, according to...
The United Nations (UN) has conferred the United Nations Public Service Award (UNPSA) 2012 to the Building and Construction Authority (BCA) for the Contractors Registration System (CRS) under the "Preventing and Combating Corruption in the Public Service" category. This is the first time a public agency from Singapore has won in this category of the award. The BCA CRS won the Award (2nd place) in Asia and...
Sophia Mansions, a freehold development located along Adis Road (District 9), has been launched for sale by tender. The 19-unit, 20-year-old residential development sits on a freehold site with a The land area is approximately 17,545 square feet (sq ft). The marketing agent, Credo Real Estate said the owners are expecting offers in the region of S$42.5 million to S$45 million. This works out to land...
Analysts said demand for executive condominiums (ECs) is expected to remain healthy in the second quarter. This despite economic uncertainties and a wider selection of new housing projects available. Executive condominium projects like Watercolours, located at Pasir Ris, continue to be a strong crowd puller. When first opened for applications in May, it was two times oversubscribed where more than 800...
Ascendas Real Estate Investment Trust (A-REIT) has entered into an agreement to sell its property at 6 Pioneer Walk for S$32 million to Chasen Logistics Services, a subsidiary of Chasen Holdings. The sale price is at a 42 per cent premium over the original purchase price of S$22.5 million in 2007. A-REIT's manager, Ascendas Funds Management, said in a statement that the divestment is in-line with its...