Redevelopment works for entertainment complex Iluma is set to be completed by the middle of the year. Located in Bugis, Iluma opened more than two years ago, but it has not been able to attract the large crowd it had hoped for. Last April, CapitaMall bought over Iluma and has put in $38 million into the mall's redevelopment. When completed, there will be more retail shops and restaurants on the first...
General
Several new launches will be rolled out soon, as developers ride the current strong home buying momentum created by the launch of Watertown condo in Punggol. According to a report by The Business Times, The Tampines Trilliant executive condo (EC) and the Parc Rosewood in Woodlands are among the projects expected to go on the market. Developed by Sim Lian Group, The Tampines Trilliant EC project is...
Over 90 percent of the more than 550 units sold so far at Watertown condo in Punggol have been snapped up by Singaporeans, proving that the additional buyer's stamp duty (ABSD) imposed recently has succeeded in cooling foreign buying. According to a Business Times report, this is down from a share of around 80 percent at other suburban condos launched last year, including The Tennery in Bukit Panjang,...
Prices of luxury condominiums in central Bangkok rose by 11.5 percent during 2011, according to the country’s Agency for Real Estate Affairs (AREA). A survey last month noted average prices now stand at THB 145,000 per sq m (S$5,804 per sq m) at developments in the Ploenchit, Chidlom, Pathunwan and Ratchathewi prime areas of the Thai capital, with some 1,953 units currently on the market. Sopon...
Top-end real estate investments are expected to be a good bet in the current global economic environment, according to luxury property developer Nick Candy. “Shrewd investors with access to capital” are increasingly seeing luxury property developments as “a long-term commitment worth making,” he said. His company, Candy & Candy, developed One Hyde Park in central London, considered one of the...
Singapore’s property sector is changing, with new home sales by developers taking up an increasing share of the private housing market. According to caveats lodged with the Urban Redevelopment Authority (URA), primary market sales and those of executive condos (ECs) accounted for 46 percent of all property deals last year, the highest level since 2003. The remaining 54 percent were made up of secondary...
Vacancy rates of Grade A offices in the central business district (CBD) rose to 6.9 percent in the fourth quarter last year, according to property consultancy Savills Research in its latest report on the office sector on Wednesday. It said vacancy rates for such premium office space have remained below 5 percent over the last five quarters. The report also pointed out that the Shenton Way area recorded...
Balloting rules for Build-To-Order (BTO) flats are expected to be changed soon to better cater to second-time buyers. Analysts said this move will help to cool the demand in the resale market. The changes will also not lead to an oversupply of flats as demand is still strong. Currently, only 5 per cent of BTO flats are allocated to second-time buyers, and analysts believe that the rate could go up to...
It's the second day of the Lunar New Year and while most were out and about visiting friends and relatives, hundreds flocked to the Watertown showflat in Punggol Central. The S$1.6 billion project has attracted brisk sales since the launch on January 20 and, 483 units out of 596 released have been snapped up. Buyers made sure they took time off from visiting relatives and friends to check out the...
The People's Park at Block 32 New Market Road will be renamed People's Park Plaza once retrofitting works are completed. It is all part of efforts to help bring in more business for tenants there. The block is one of four sites to receive upgrading, and one of 35 sites to receiving funding for promotional activities from the Housing and Development Board's (HDB) Revitalisation of Shops (ROS)...