General

Keppel Land’s Reflections at Keppel Bay, the developer’s iconic waterfront property, is likely to receive its temporary occupation permit (TOP) at year-end. And that may have stoked sales of late, say property experts. The 1,129-unit Reflections, designed by renowned architect Daniel Libeskind (most famous as the master planner for the rebuilding of the World Trade Center Site in New York), sits...

Just when you thought you have finally figured out what influences private home buying, the market throws up another surprise. The latest Urban Redevelopment Authority (URA) figures show that developers sold 1,348 private homes last month. Although this is down 3.6 per cent from the 1,398 units in July, some analysts, including myself, had predicted that sales could likely slip below 1,000 units amid...

The outlook for the Singapore residential property market lacks clarity and the murkiness does not seem to be clearing any time soon. Investors are looking for signals, direction and leadership. One major topic of discussion that has gained traction over the past year is pipeline supply. It began with a discussion about the Urban Redevelopment Authority's quarterly reports on the expected completion of...

The drop in the number of bids for land sale sites appears to indicate that a degree of caution has settled in the property market. A recent Urban Redevelopment Authority land tender for a commercial site along Robinson Road and Cecil Street closed with only three bidders. According to a report by DBS Group Research, the "response was lukewarm" on the back of the global uncertainties and potential...

The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the hotel site at Jalan Bukit Merah / Alexandra Road for sale via public tender. The land parcel was made available for sale through the Reserve List system on 16 August 2007. URA has received an application from a developer for the site to be put up for public tender. The developer has...

Jones Lang LaSalle (JLL) has launched the collective sale of Parkway View, a prime residential development site along Marine Parade Road, at an indicative price of S$81 million. This works out to around S$1,360 psf ppr, with no development charge (DC) payable. Enjoying prominent frontage along Marine Parade Road, Parkway View comprises 26 residential units in a 15-storey tower, with sizes ranging from...

HDB this morning announced the launch of more than 8,200 flats under the joint Build-To-Order (BTO) and Sale of Balance Flats (SBF) Exercises - the largest supply of flats in a single launch. There was an added bonus for first-time buyers, as it was announced that "at least 95 per cent" of the flats would be set aside for buyers in this category. "Flat-buyers of all income groups will enjoy a wide range...

Strong sales at recent condominium launches have put developers in a bind. Within a week of launching, the Luxurie in Sengkang sold a quarter of its units, at an average selling price of S$1,100 per square foot, while the Meyerise at Meyer Road sold 35 per cent of its units, averaging 1,800 per square foot. While they need to bid for new land sites in order to replenish their land banks, the threat of an...

Sales of executive condos (ECs) have picked up after last week’s announcement that the higher income ceiling of S$12,000 would apply to five other EC projects with unsold units. According to Qingjian Realty, over 50 EC units have been snapped up at RiverParc Residence in Punggol since last week, bringing total sales to 468 units (93 percent) of the 504-unit project. It added that most of the buyers...

Owners of “ultra prime” homes in Asia have seen the values of their properties rise amid the global economic crisis, particularly in Singapore and Mumbai. The increase in value of luxury properties, defined as homes valued above £10 million (US$15.7 million), has been less prevalent in Western cities, traditionally home to the world’s property market elite. Global real estate service provider,...