Continued rise in property demand and prices have raised concerns that another round of cooling measures may be on the cards. Some analysts said the focus to cool down the sector may turn to industrial properties this time. But some said such measures are unnecessary as there are ways to keep a lid on industrial property prices. Ease in obtaining mortgage loans at attractive interest rates is among the...
General
CapitaMalls Asia Limited and Suzhou Industrial Park Jinji Lake Urban Development Co., Ltd (SIPJUD) announced today that they marked a key milestone by breaking ground for the largest shopping mall in East China. Owned by the Suzhou Industrial Park (SIP) government, SIPJUD is the master developer of the SIP Central Business District (“CBD”), known as the Suzhou Centre. The ground-breaking ceremony of...
A number of private homes in Singapore are going for less than S$1 million, but their location and décor may not be on par with the pricier developments. However, these properties could end up being a good deal if they are located in an area that’s set to be rejuvenated or developed. According to Nicholas Mak, Head of Research at SLP International Property Consultancy, about 1,249 private units of...
Singapore’s central business district (CBD) is evolving from a traditionally corporate location, with more buyers looking for prime residential properties in the area. According to Savills Singapore, more than 4,600 new homes will likely be completed in the district by end-2015. A number of these homes will be located in Shenton Way, Robinson Road and Tanjong Pagar. This is expected to boost the...
The value of prime property in the world's key cities fell by 0.4 per cent in the first quarter of this year, representing the index's first quarterly fall since the depths of the global recession. Although a milestone, the index's negative quarterly growth is not surprising. Quarterly price growth has been below 2 per cent since the first quarter of 2010 and it averaged only 0.6 per cent last year. The...
Those who were uncertain over whether the robust home sales by developers chalked up in recent months can be sustained have been left with no doubt following Tuesday's release of April's sales figures. In all, a total of 2,487 new private homes - excluding executive condominiums (ECs) - were sold last month. This is a near 4-per-cent jump from March and is the highest monthly level since 2,772 units were...
The site for residential development at Tampines Avenue 10 has attracted three bids at the close of tender by the Urban Redevelopment Authority (URA). The highest bid of S$252.8 million or S$417.86 per sq ft per plot ratio came from a consortium formed by Far East Organization, Frasers Centrepoint Limited and Sekisui House Limited. The break-even cost is estimated to be between S$750 and S$800 per sq...
Real estate fund manager ARA Asset Management plans to raise between S$700-800 million by listing some of its Asian assets in a yuan-denominated initial public offering in Singapore, the first outside Hong Kong or China. ARA Asset Management is an affiliate of Hong Kong tycoon Li Ka Shing's Cheung Kong Holdings. According to Dow Jones report, Singapore-listed ARA expects to get approval from the...
A former property agent has been sentenced to 12 weeks' jail for using fake stamp certificates, the first of such offences be punished. Desmond Tan Hock Heng, 24, pleaded guilty to five charges under the Stamp Duties Act. Three other similar charges were taken into consideration. Tan was sentenced to another two weeks' jail for criminal breach of trust. Tan was with HSR Property Group for less than a...
The number of new home sales in Singapore reached 2,487 in April, a 3.9 per cent increase from last month's total of 2,393 units. The Urban Redevelopment Authority (URA) said 1,514 homes were sold in the suburbs or Outside Central Region (OCR), while 867 new private units were sold in the city fringes and 106 were sold in the...