The Meyerise, a 239-unit freehold project at Meyer Road, saw strong interest from buyers during its weekend preview, with nearly 70 percent of the 120 units released sold. Of the total units sold, approximately 50 percent were three-bedroom units, with prices ranging between S$1,400 psf and S$2,540 psf. “Location proved to be a strong deciding factor for buyers of The Meyerise, particularly since about...
General
Keppel Land Limited has seen strong response for The Luxurie at Sengkang, with over 180 units sold at an average price of S$980 psf since sales started last week. “The positive take-up, with more than 82 percent of the 220 launched units sold, reflects home buyers’ confidence in The Luxurie’s strong value offerings such as its prime location near the MRT station and wide array of amenities, as well...
A few mid-sized real estate investment sales transactions have been closed recently. Formerly called Royal Peacock Hotel, The Saff Hotel at Keong Saik Road has been sold to the Hind Group for slightly below S$42.1 million, according to The Business Times. The Hind Group also owns Naumi Hotel, a luxury boutique hotel at Seah Street, behind Raffles Hotel. In a separate deal, Silverpeak Real Estate...
Starhill Global REIT will be filing an appeal against the High Court's decision to dismiss its application to declare that the rent review mechanism in its lease agreement with Toshin is "not operable". Toshin is the property arm of Japan-based retailer Takashimaya. Starhill has a 27.23 per cent stake in Ngee Ann City. Under a lease agreement, Toshin is the master tenant occupying the retail areas from...
Singapore property prices will remain stable in the medium term, with key home-buying factors like upgrading and investment still expected to drive up demand, said a My Paper report. This comes amid the expected slowdown in Singapore’s economic growth, led by the debt crisis in western countries. As home buyers are likely to be more cautious, prices will not increase or decline by over five percent by...
Retail real estate investment trusts (Reits) earnings in Singapore will continue to surge in the coming months, attributed to positive consumer confidence, said DBS. “With earnings forecasted to be growing steadily and supported by an expected strong S$, we believe that S-Reits continue to offer a compelling investment proposition for income investors,” it said. DBS noted that S-Reits should continue...
The newly completed Kovan Residences saw an increase in transactions from Aug 1 to 8, with three units at the suburban condominium changing hands in that period. Prices achieved were in the range of $1,085 to $1,267 psf. The fully sold 512-unit Kovan Residences was developed jointly by Centurion Properties, the majority stakeholder, in collaboration with construction group Lian Beng, which held a 19%...
The Chijmes along Victoria Street is being put up for sale by owner Suntec Reit. It has appointed Colliers International to market the property through an expression-of-interest exercise. However, Suntec Reit is expected to sell the asset only if it gets a good price. Chijmes was last valued for $134 million at the end of last year. It has 79,794 square feet of net lettable area, and generated revenue of...
It has been more than half a year since the last round of the Government's residential property cooling measures were implemented in January and, even as buying interest in private homes seems to have been moderated, the debt crises in Europe and the United States are creating new concerns. However, the outlook for Singapore's private residential property must also be looked at beyond this financial...
Singapore slipped four notches to rank No 9 on Knight Frank's latest global house price index largely due to regulatory measures and global economic uncertainties. Annual price growth in Singapore, which ranked No 5 on the list in the March quarter, stood at 6.7 per cent in the second quarter of the year, down from 37 per cent a year earlier. Knight Frank, which concluded the global housing market is at...