A new condo in Bishan that’s slated to launch in mid-April could be the priciest suburban condo to hit the market, according to a report by The Straits Times. The article said that the indicative average price of Sky Habitat at Bishan Street 14 is expected to range between S$1,700 psf and S$1,800 psf. However, this is only the preliminary estimate from marketing agents, and could be higher or lower...
General
Although the bungalow market opened the year on a quiet note, activity is now starting to look more favourable, according to a report by The Business Times. In the GCBA (Good Class Bungalow Area) segment, a two-storey bungalow located at Bishopsgate was sold for S$27 million, which works out to around S$1,674 psf, based on the 16,124 sq ft freehold land area. The six-bedroom property was acquired four...
Overwhelming demand in the housing market has exceeded supply in recent years, and as a result, prices have surged faster than peoples’ incomes. Tharman Shanmugaratnam, Singapore’s Deputy Prime Minister, commented that “we're not in a very happy part of the cycle,” according to a Straits Times report. Mr Tharman was responding to a query raised by Yvonne Ho, an engineering doctoral student,...
Private investors from Malaysia, Indonesia, Taiwan and Singapore are expected to remain active in the investment market despite lower sales volume in the first quarter of 2012, according to real estate consultancy CBRE. It said total investment sales hit S$4 billion in Q1, down 53 per cent on-year and 49 per cent shy of the fourth quarter's figure. CBRE attributed the slower private investment sales to...
Demand for small sized apartments also known as shoebox units may be waning. These units spanning less than 500 square feet seem to be a hit with property buyers recently. Analysts said the popularity of these units in the rental market will only be tested in 2013, when the bulk of these units will be ready and put up for rent. Smaller apartments have been flooding the property market in recent...
The local auction market experienced a "cooling" period in the first quarter of this year, with only three properties sold out of 84 properties auctioned, according to the latest report by property consultancy firm Jones Lang LaSalle. In the same period last year, 17 properties were sold out of 120 properties auctioned. Among the three properties sold during auctions in the first quarter of 2012, two...
According to the latest DTZ Research report which highlights real estate investment activity, real estate investment activity in Singapore dopped by 50 per cent in the first quarter of this year to S$3.7 billion. This compared to the previous quarter where investment sales hit S$7.4 billion. Reasons include investors remain mindful of rising business costs, global economic uncertainties and a weaker...
Applications for the latest sale of Housing and Development Board (HDB) flats were 3.25 times oversubscribed. As the deadline for applications drew to a close on Tuesday, the HDB received some 26,000 applications for the 7,978 flats released for sale last week. Minister for National Development Khaw Boon Wan said in his latest blog post that the application rates have been reassuring. For flats in...
A residential redevelopment site at Fernvale Lane has received a top bid of S$245 million at the close of a public tender on Tuesday. Only four bids were received for the executive condominium (EC) site. The top bid came from Peak Living Pte Ltd, a subsidiary of Kheng Leong Group which is controlled by the family of tycoon Wee Cho Yaw. FCL Tampines Court Pte Ltd/Keong Hong Construction put in the second...
It certainly isn't the kind of price correction that many had been eagerly anticipating since last December. Advance estimates published yesterday by the Urban Redevelopment Authority (URA) showed private home prices fell by 0.1 per cent in the first three months of this year compared to the final quarter of last year. It was the first drop in prices in nearly three years - the first quarterly decline...