Singapore, China and India posted the biggest increases in millionaires last year as the Asia-Pacific region countered a decline in wealth in western Europe and the United States, said Boston Consulting Group. Millionaire households in Singapore rose 14 per cent to 188,000 while those in China climbed 16 per cent to 1.43 million and India saw a 21-per-cent increase to 162,000, the firm said in a report...
General
The industrial property segment probably benefited more than the office and retail segments after investors were diverted to non-residential sales following the Government's measures to cool the housing market last year. A record 1,822 industrial units were transacted last year and the buying momentum continued into the first quarter of this year. The quarter saw 478 strata factory transactions, up about...
Five bids were received by the Housing and Development Board (HDB) in the tender for a land parcel at Sengkang Square/Compassvale Drive launched on 16 April. The 99-year lease site has an area of approximately 22,498 square metres or a maximum gross floor area of over 67,000 square metres. It is planned for a private housing development. The top bid came from EL Development for S$383 million or S$528...
Private commercial-school operator ERC Holdings is buying the House of Tan Yeok Nee for more than S$60 million from German fund manager Union Investment Real Estate AG. According to Business Times, Savills brokered the sale of the property through a private equity and an option is said to have been issued this week. The House of Tan Yeok Nee is located at the junction of Penang Road and Clemenceau...
The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Boon Lay Way (Jurong Gateway) to MCL Land Limited. MCL Land Limited submitted the highest bid in the tender for the site at S$369.388 million (S$7,589.64 per square meter of GFA). The next highest was by EL Development Pte Ltd at $369.1 million. The 11,588 m2 site was offered for sale on a 99-year lease. The...
700 Beach Road has been put up for sale. The property comprises 67,429 square feet of strata area and is currently fully occupied. According to its marketing agent Jones Lang LaSalle, the office building in the Central Business District has an indicative price of S$120 million for 100 percent strata interest in the property. Jones Lang LaSalle says the property sits on a commercial zoned site of 18,400...
HDB launched six BTO projects today, offering 4,627 new flats in three non-mature towns (Choa Chu Kang, Punggol, and Sengkang) and one mature town (Kallang/Whampoa). This is the third BTO launch this year. HDB plans to offer 25,000 BTO flats for 2012. Prices start from S$124,000 for a studio apartment in McNair Towers in Kallang/Whampoa. A 4-room flat in Compassvale Boardwalk in Sengkang, a non-mature...
Following the announcement that construction works on Bidadari new town will begin by year-end, developers are eyeing new opportunities at other prime residential sites in strategic locations. According to analysts, thousands of homes are in the pipeline over the next few years, as prime sites not far from the city will be launched, including the Dempsey area and former Bukit Timah Turf Club, as well as...
The Urban Redevelopment Authority (URA) closed the tender for the residential site at Boon Lay Way (Jurong Gateway) today after receiving 12 tenders for the land. The site at Boon Lay Way (Jurong Gateway) was launched for sale by public tender on 30 April 2012. It was originally on the Reserve List of the Government Land Sales Programme. URA had, on 16 April 2012, accepted a successful application for the...
Prices of small apartments measuring up to 506 sq ft dipped slightly by 1.2 percent in April, according to the Singapore Residential Price Index (SRPI) flash estimate published by the Institute of Real Estate Studies at NUS. This is in sharp contrast to March, when the SRPI sub-index for small apartments saw a notable 2.7 percent rise. April’s overall SRPI inched up 0.8 percent from the previous...