A new study shows that about 30 per cent of HDB households in Punggol have a monthly income of S$9,000 or more. This is four percentage points higher than the national average compared with other HDB estates. And property developers believe this shows Punggol has potential for private residential development. Pasir Ris has the highest number with 35 per cent of HDB households with monthly incomes above...
General
A total of 66 strata-titled office units in Burlington Square have been put up for sale by expression of interest by property consultant, Colliers International. In a statement, Colliers said buyers are to submit their offer by noon on April 18, 2012. Burlington Square is a mixed development located at Bencoolen Street and it sits on a 99-year leasehold site with effect from June 1996. Colliers said the...
Cambridge Industrial Trust Management Limited (CIT) said on Wednesday it is buying its maiden property in the new Paya Lebar iPark precinct for S$72.3 million. The five-storey industrial building, located at 16 Tai Seng Street, has a current gross floor area of about 16,282 square metres that will eventually increase to 19,878 square metres. The purchase is expected to be completed by the second quarter...
Singapore National Development Minister Khaw Boon Wan has said that his ministry will do more to continue to invest in parks. In his latest blog post, he wrote that parks add to the quality of life, promotes healthy living and community bonding. Mr Khaw pointed to two big projects - the Rail Corridor and the 150 kilometre-long Round Island Route which will link up the country's major natural, cultural...
Trends on Asia’s largest dedicated commercial and industrial property portal, CommercialAsia.com, showed an 82% growth in unique visitors in the month of February. The site, which is owned and operated by the iProperty Group, also reported that a majority of visitors to the site were from Singapore, Malaysia, Indonesia, Australia and Hong Kong Hong. Shedding light on the matter, Glenn Thompson, General...
Shenton House, located in the heart of the central business district in Singapore, has been put up for collective sale. In a statement, its sole marketing agent DTZ said the site which is situated at Shenton Way could fetch S$530 million. This translates to S$1,720 psf per plot ratio based on the allowable approved gross floor area of nearly 427,500 square feet. The leasehold property sits on a land...
With concerns over a possible drop in private home prices of up to eight percent this year, many developers are becoming more cautious on how much they are willing to pay for private home sites. Deciding on the prices to offer for a plot on sale, developers need to take into account the possibly lower home prices into their sums. According to a BNP Paribas report, which analysed about 100 government land...
Property investment sales for this quarter so far have plunged to a two-year low of about S$3.4 billion as of 12 March 2012, but Q1 figures could still rise to around S$3.8 billion, according to Savills Singapore. The 12 March tally is notably 57 percent lower than Q4 2011’s S$7.7 billion and 60 percent down from the S$8.4 billion recorded in Q1 2011. Savills said the decline of investment sales may be...
The new Multi-Generation Priority Scheme (MGPS) by the HDB, which gives more chances for couples to own their own flats if their parents live with them may be abused, warned some property experts. Although it aims to promote multi-generational family living, some could abuse the scheme by bidding for a popular unit in a mature estate and yet, not everyone would be living under the same roof. Moreover,...
The supply of hotel rooms in Singapore is expected to increase by 20 per cent by 2016, according to a report by real estate consultancy CBRE. CBRE said the ramping up of room supply is underpinned by healthy outlook for the hospitality sector. In 2011, over 1,900 hotel rooms have been added in Singapore, with the bulk of them coming from V Hotel with 888 rooms and Oasia Hotel with 428 rooms. CBRE added...