Shanghai eased home purchase restrictions to allow a broader pool of buyers to purchase a second property in China's financial centre, the Shanghai Securities News reported yesterday. The city loosened its definition of locals to allow residence permit holders who have lived in the city for at least three years to buy a second home, the newspaper said, citing an unidentified official of the city's housing...
General
Nearly 500 new residences were sold over the past week, as developers stepped up their marketing efforts, fuelled by good transaction figures last month. In January, 1,872 new private residences were snapped up, the highest since November 2010, and property developers want to keep the ball rolling. Developers are speeding up the launch of more homes to ride on positive buying sentiment and to secure...
After a 20 percent discount, some 65 units have been sold at Bartley Residences (pictured) at an average price of S$1,240 psf, with 90 percent of the buyers being Singaporeans and permanent residents (PR). During yesterday’s preview, the developer released 120 units in the 99-year leasehold private condo project, which is located next to Bartley MRT station. The development comprises one- to...
Singapore remains the ninth most expensive city to rent property in the world, and the third most costly in Asia, according to a survey by ECA International. This is despite the average rent for an unfurnished three bedroom apartment rising only three percent last year, one of the lowest in the region. This is a much lower rate of increase than the previous years when rents rose over 10 percent. However...
CapitaMalls Asia said it has acquired the remaining 73.71 percent stakes each in La Park Mizue in Tokyo, Izumiya Hirakata in Osaka and Coop Kobe in Kobe. The acquisition price for the three shopping malls was about S$217.4 million. This represents a 16.9 percent discount to the malls' latest valuations as at December 2011. CapitaMalls Asia, the retail arm of Southeast Asia's biggest developer...
A 25-unit residential development, Bartley Grove Apartments, along with three adjoining terrace houses located along Bartley Road have been put up for en bloc sale. Marketing agent Credo Real Estate said the 65,305-square-foot site could fetch between S$73 million and S$75 million, with no development charge payable. The prices reflect land rates of about S$798 to S$820 per square foot (psf) per plot...
Over 510 units of the 670-unit Parc Rosewood have been sold in the three weeks since its preview on January 28. In the past week alone, 120 units of the condominium development in Woodlands have been taken up. Kensington Land said on Monday that it was extremely encouraged by the "strong response" from buyers who found its luxury resort concept and prices very appealing. Source : Channel NewsAsia - 20...
Encouraged by the strong take-up of properties in January, property developers of mass-market residences will likely continue the launch momentum this month, according to Colliers International. The consultancy said it is also advantageous for developers to proceed with their launches instead of opting for a later date, when home prices may come under pressure due to buyers’ cautious sentiment, an...
Older taxpayers will soon get more income tax relief. Announcing this on Friday in Parliament during the Budget speech, Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam said the government will double the earned income relief for those aged 55 and above. Mr Tharman explained this is so that older workers can retain more of their income from work. Those aged 55 to 59 years old will...
When last December's dismal showing of only 632 private homes sold were revealed in the middle of last month, many were bracing themselves for further shocks in the coming months. They did receive one just two days ago - only, not the kind they expected. Developers sold 1,872 new homes in January, almost treble the number sold the previous month. Yes, sales were dominated by a few projects but that has...