The debate over cash-over-valuations, or COVs, for Housing and Development Board (HDB) flats continues. This week, the body representing Singapore's property valuers called for the removal of all official data on cash premiums paid for HDB resale flats. The Singapore Institute of Surveyors and Valuers (SISV) said it supported National Development Minister Khaw Boon Wan's decision to cease the release of...
General
Supporting National Development Minister Khaw Boon Wan's decision to stop releasing the median cash-over-valuation (COV) data, the industry body representing property valuers here has urged the authorities to go a step further and "discourage" the practice of paying COV. The Singapore Institute of Surveyors and Valuers (SISV) cautioned yesterday - in a statement from its president (valuation and general...
Hoi Hup Realty has won the tender to buy Whitley Heights for S$159 million in a collective sale. The selling price for the 45-unit condominium development is lower than the initial reserve price of between S$185 million and S$210 million in January, and the revised reserve price of S$165 million in June. Credo Real Estate, which is marketing the 130,165-sq-ft property, said it "could be the third-largest...
China's home price rose at its slowest rate this year as tightening measures led to a decline in transactions, the Dow Jones news agency reported Thursday. Housing prices edged up slightly by 0.07 per cent in August from July, compared with July's 0.21 per cent on-month increase, according to the China Real Estate Index System. However, from a year earlier, the average price for new properties was up 6.9...
As the debt problems in Europe and the US shift investor interest towards Asia Pacific, Southeast Asia could see more investments coming from outside the region. That is according to property consultants DTZ Research. DTZ said most of the property investments in 2010 have already come from within the region. In Malaysia, Singapore and Thailand, where property investments are tracked by DTZ Research,...
The Council of Estate Agents (CEA) is investigating some 20 possible cases of unethical advertising. This comes one month after its new advertising guidelines for property agents came into effect on August 1. CEA's director for regulatory control, Mr Lee Say Kee said dummy ads, which advertise fictional properties or properties which do not have the owner's consent remain the most serious. Others...
The tender for a 99-year lease site at Punggol Field Walk attracted a top bid of S$169.56 million at the close of tender on Thursday. The 154,397-square feet site attracted a total of eight bids, with Capital Development/ZACD Investments submitting the highest bid. The other seven bids came from FCL Topaz, Far East Civil Engineering & Sekisui House, Leng Hoe Development, Allgreen Properties, EL...
Singapore's Global Logistic Properties (GLP), which owns warehouses in Japan and China, said it has formed a joint venture with Canada Pension Plan Investment Board to develop logistic facilities in Japan. In a statement, GLP said each partner will invest US$250 million of equity over a projected three years, adding that the targeted leverage is 50 per cent loan-to-value after stabilisation with an...
Deputy Prime Minister Tharman Shanmugaratnam has described demand for new and upcoming office buildings as 'robust.' Mr Tharman, who is also Finance Minister, said this is indicative of the vibrancy of Singapore's financial sector. He said: "The market will go through cycles but we'll make sure that we have enough supply coming onto the market to meet long term demand without being able to predict what...
Real estate advisory firm Knight Frank has launched Riviera Point, a freehold site located along River Valley Road, for sale by tender. It said the guide price for the property is S$70 million. The site is located near the Orchard shopping belt, and has a land area of 14,580 square feet. Knight Frank said the site may be redeveloped into a new project that could yield a gross floor area (GFA) of 49,303...