The Urban Redevelopment Authority (URA) released today the real estate statistics for 1st Quarter 2012. Prices of private residential properties fell marginally by 0.1% in 1st Quarter 2012, compared with the 0.2% increase in the previous quarter. This was the first quarterly fall in prices since 2nd Quarter 2009, following nine consecutive quarters of declining price increases. Prices of non-landed...
General
HDB’s Resale Price Index rose from 190.4 in 4th Quarter 2011 to 191.6 in the 1st Quarter 2012, an increase of 0.6% over the previous quarter. This is the same as the flash estimate released on 2 April 2012. Resale transactions fell 0.5%, from 5,921 cases in 4th Quarter 2011 to 5,892 cases in 1st Quarter 2012. HDB offered 8,076 flats under Build-To-Order (BTO) exercises and another 3,825 flats under a...
Prices of industrial properties were up 7.3 per cent in the first quarter of 2012, compared with 3.8% in the previous quarter. Within this segment, property prices of multiple-user warehouse jumped 8.8 per cent, while property prices of multiple-user factory increased by 7.2 per cent. Rentals of multiple-user factory space rose by 1.3 per cent in the first quarter, higher than the 0.6 per cent in the...
Judging from the recent spate of positive market news, it appears that there is no better time to be involved in property than the present. A report on Wednesday highlighted the sharp rebound in resale transactions of completed private homes last month, confirming that the secondary market had indeed recovered to levels before the additional buyer's stamp duty (ABSD) was imposed in December. That segment...
Recent private home buying has focused on developer sales, particularly those for suburban condominiums. The focus is driven by financial considerations and innovative product designs. Developer sales can be significantly pricier than resale homes in the vicinity but may still be attractive because the buyer "wouldn't have to pay instantly". The attraction lies in the progress payment schemes where...
The latest public housing project to be sold under the Design, Build and Sell Scheme (DBSS) will be launched on Friday, April 27. Pasir Ris One is also widely believed to be the last DBSS development, following the government's move to suspend land sales for such projects last year. The 447-unit development, located at Pasir Ris Central next to the MRT station, comprises 3-room to 5-room units. A 3-room...
Jade Towers, a residential development in the Upper Serangoon area, has been sold to Roxy Residential - a wholly-owned subsidiary of Singapore-listed Roxy Pacific - for S$106.27 million according to Channel NewsAsia. The sales price translates to a unit land rate of S$807 per square foot per plot ratio and no development charge is payable. Marketing agent Savills said each owner can potentially receive...
Novena Ville, a 43-unit mixed-use development along Thomson Road, has been put up for en-bloc sale. Its marketing agent Credo Real Estate says it is expected to be hotly contested as it has the potential to accommodate shops on the ground floor. Credo adds that the sellers are expecting offers in the region of S$125 million to S$135 million. The freehold site has an area of 51,092 square feet and with a...
Singapore shopping mall developer CapitaMalls Asia posted profit after tax of S$66.8 million for the first quarter of its fiscal year, up 36 per cent from the S$49.1 million reported last year. In a stock exchange filing, the company said its revenue rose 41 per cent to S$70.9 million from S$50.2 million in the same period last year. This was mainly due to the contributions from its three newly acquired...
More residential projects will receive the Construction Excellence Award this year. The award recognises construction projects that have demonstrated the highest standards of construction excellence in Singapore, particularly in project management, technical inputs and workmanship. The Building and Construction Authority (BCA) says 10 awards and seven certificates of merit will be given to builders of...