The Singapore residential property market has recently exhibited pricing anomalies that remind us of the conditions prevalent during the last market peak in 2007. Back then, exuberant market conditions as well as their own ingenuity allowed property developers to sell some large luxury residential units at a higher price per sq ft (psf) than the smaller units in the same project. This time, history did...
General
Go for subsidised new HDB flats - it is your entitlement In a weekend feature article, prospective buyers of homes - both for own occupation and for investment - got a huge dose of advice from property experts, consultants and even developers. Much of the advice was not new but there were many good reminders amid the volatile and uncertain economic environment - both locally and globally. However, the...
The inaugural South-east Asia Property Awards 2011 to honour the best talents in the industry will be held in Singapore on Nov 30. The awards are co-organised by Channel NewsAsia and publishing firm Ensign Media. Ms Debra Soon, Channel NewsAsia managing director of news, said: "We are happy to play a part in explaining to viewers the stories behind the growth of the regional real estate industry and the...
The Housing and Development Board (HDB) and the Urban Redevelopment Authority (URA) yesterday launched four residential sites for sale by tender, adding almost 1,900 housing units to the increasing supply of homes. Bidding for the sites is expected to be cautious as the private property market has been showing signs of cooling in recent months and as the external economic environment becomes increasingly...
Demand for resale flats has fallen by about 20 per cent since the raising of the income ceiling for Build-To-Order (BTO) flats. This is according to property agents who added that the cash-over-valuation (COV) prices are also starting to fall. The income ceiling for BTO flats was raised less than two weeks ago from S$8,000 to S$10,000. But property agents Channel News Asia spoke to said they are already...
Listening to Mr Tony Bin Hee Din extol the virtues of his work, one might be forgiven for thinking he is in the hospitality industry. But truth be told, Mr Bin, executive director of Centurion, is in the business of building and operating dormitories for foreign workers. The purpose-built dormitory that Centurion owns and manages is modern, spacious and comes with amenities to make life more pleasant for...
Prospective buyers of units at current executive condominiums (EC) projects, are requesting that the recent income ceiling increase, also be applicable to those bought before mid-August. The qualifying income ceiling for ECs was raised from S$10,000 to S$12,000 a month, for projects launched for sale from August 15 this year. Property agent ERA said that after the recent announcement, they received...
The Housing and Development Board (HDB) is putting up two executive condominium (EC) sites at Pasir Ris (Pasir Ris Drive 3 / Pasir Ris Rise) and Yishun (Yishun Avenue 7 / Canberra Drive) for sale. The higher income ceiling of $12,000 and tiered CPF housing grants announced on August 15 will apply to these two projects. The tenders will close at noon on October 11 and October 25 for the Pasir Ris and...
DTZ has downgraded this year’s property investment forecast in the Asia Pacific region from S$158 billion to S$135 billion. “The downward revision comes as a result of policy initiatives in China to cool the property market, the earthquake and tsunami in Japan, and fears of a global economic slowdown, which is leading to reduced investment flows,” said DTZ in a report. However, the real estate...
Midlink Plaza, a nine-storey commercial building at the junction of Queen Street and Middle Road, has been launched for tender with an indicative price of between S$120 million and S$130 million. With the building’s existing strata area of 92,861 sq ft, the price tag translates to around S$1,292 psf to S$1,399 psf. However, after factoring in S$16.8 million to S$18.3 million for the top-up of the lease...