Developers are rushing to launch new projects to take advantage of the strong demand seen in the primary home sales market, according to a report by The Business Times. “Developers know this trend cannot be sustained, especially when you have HDB launching (so many units),” said Ku Swee Yong, Chief Executive of International Property Advisor (IPA). In March alone, a slew of developments were...
General
Singapore will continue to augment its land capacity through reclamation, building higher, and going underground. Still, land allocations for industrial, commercial and residential use will likely remain the same over the next decade. Currently, one third is used for industry, commerce and housing. The remaining two thirds are used for roads, sea port, airport, reservoirs, utilities, military training...
The Housing and Development Board (HDB) tender for a land parcel at Elias Road/Pasir Ris Drive 3 has attracted nine bids at the close. Analysts said the number of bids for the site - which has been designated for development of strata landed housing, condominium or flats - show that developers are still keen on the residential market. The top bid of S$165.9 million came from Elitist Development Pte...
Plans by the Monetary Authority of Singapore to scrap its Financial Investor Scheme (FIS) are unlikely to dampen foreign investors' appetite for Singapore residential properties. Property agents said this is because such property investors contribute less than one per cent of overall residential property transactions in Singapore. The scrapping of the FIS may be viewed as yet another measure to curb...
The gap in prices between private homes in the mass market and the core central region is narrowing. Market watchers said the gap is down substantially to just above 60 per cent in the first quarter of this year. That's compared to 108 per cent in the second quarter of 2011. This is because prices of homes in the mass market have been picking up at a much faster pace. Analysts expect more than 6,000...
An industrial site at Sims Drive has received a top bid of S$43.39 million at a Government Land Sales tender. The tender attracted a total of 14 bids. The top bid was put in by Fragrance Biz Space. It was also almost 25 per cent higher than the second highest bid of S$35 million from Mezzo Development. Based on the top bid, the land price works out to be S$2,749 per square metre of gross plot...
Boutique property developer Oxley Holdings has acquired McDonald's Place for S$150 million. In a statement released on Tuesday, Oxley said its subsidiary Oxley Sanctuary had purchased all seven strata commercial units in the freehold development located at King Albert Park from Valewood Investments Pte Ltd. The freehold two-storey commercial building is sited on a land area of 5,535 square metres that is...
Asia's largest logistic facilities provider Global Logistic Properties (GLP) is leasing most of its warehouses in China to domestically driven consumer industries. Barring a global recession, GLP is confident the China market will help drive its growth and take up a larger share of its portfolio. Online retail sales in China have doubled every year for the last five years, benefiting e-commerce...
Cavenagh Gardens, a freehold apartment block in District 9, has been put up for en bloc sale with an indicative price of between S$460 million and S$480 million. This works out to between S$1,708 psf ppr and S$1,782 psf ppr excluding balcony allowance, or around S$1,553 psf ppr to S$1,620 psf ppr including balcony allowance. The PropNex Investment Sales Department, which is marketing the property, said...
109 units at the Hillsta project in Choa Chu Kang were snapped up during its launch on Thursday. Developer Far East Organization (FEO) said that around 90 percent of the buyers for the Japanese-inspired development were Singaporeans. Hillsta, a joint venture (JV) between FEO, Sekisui House and China Construction, offers condominium, townhouse and Soho units. One of the major selling points of the...