Judging from the recent experience of countries in the region, it appears nothing is more effective in managing runaway real estate markets - in the absence of a recession - than a bout of credit tightening. Other cooling measures like higher downpayment rules, steeper stamp duties and property taxes coupled with various caps and limits on purchases have been shown to be less effective without the...
General
Green Lodge, a residential development site at Toh Tuck Road, has been launched for sale with an indicative price of around S$195 million. This works out to around S$866 psf ppr, with no development charge payable for proposed development of up to 1.49, said real estate adviser DTZ, the property’s sole marketing agent. Located at Toh Tuck Road, Green Lodge has a total land area of 151,075 sq ft and can...
Parkway Life Real Estate Investment Trust (PLife REIT) has reported distributable income of S$14.5 million for the quarter ended September 30, an increase of 6.8 per cent year-on-year. Distribution per unit (DPU) for the quarter rose 6.8 per cent year-on-year to 2.40 cents. Net property income increased 3.6 per cent year-on-year to S$20.14 million. Gross revenue increased by 4.1 per cent year-on-year to...
Singapore's Second Chance Properties, which started out as a retailer of traditional Malay clothes and gold jewellery, has set its sights on real estate to fuel its next phase of growth. The company is betting that euro zone sovereign debt problems will spur another global crisis, giving it a chance to pick up about S$250 million worth of properties in the next five years, its chief executive said. "For...
The Housing & Development Board (HDB) has unveiled a "Roadmap for Better Living in HDB Towns", which is focused on three key thrusts: well-designed, sustainable, and community-centric towns. To do this, HDB said its roadmap will set out key priorities for the board's professional focus over the next five to 10 years to "deliver a better living environment and meet the evolving lifestyle aspirations of...
With uncertainties in the global economy affecting housing demand, private home sales in Singapore may come close to 2010’s record high but are unlikely to exceed the figure, according to many experts. The number of private homes sold in the first nine months of this year reached 12,301 units, compared with 12,051 units sold over the same period last year. However, experts said a slower fourth quarter...
The Malay Heritage Centre on Wednesday announced it has embarked on its next phase of redevelopment to refurbish the museum which will house a new permanent exhibition, as well as two temporary exhibition galleries, a new visitors' centre and a flexible performance space. Part of the plans to revamp the Centre includes the removal of a 40-metre section of a wall along Kandahar Street to give visitors an...
A transitional office site on Mountbatten Road, which was put up for sale by the Urban Redevelopment Authority (URA) last month, drew 11 bidders at the close of the tender yesterday. The top bid of $15.01 million or $119 per square foot per plot ratio (psf ppr) came from an individual, Chen Chew Yen. If the site is awarded, it will be the first time in more that 18 months that a transitional office site -...
The average home price in China's 100 key cities fell 0.23 per cent in October from a month earlier, following Beijing's tightening measures to curb the exuberant housing market, a private survey showed on Tuesday. The China Real Estate Index System (CREIS), affiliated with Soufun, the country's largest online real estate firm, said the average home price dropped to 8,856 yuan (S$1,770) per square metre...
Tuan Sing Holdings announced on Monday its net profit for the third quarter totaled S$5.2 million, down 89 per cent from the corresponding period last year due in part to property cooling measures by the Chinese government. Revenue fell 75 per cent to S$47.05 million, the company said in a statement to the Singapore stock exchange. This brought the nine months' revenue and net profit to S$168.1 million...