Rent of high-end homes might keep falling in the light of an increased supply and less generous housing packages for expatriates. Luxury home rents have dipped by about 2 per cent in six months, according to GPS Alliance associate agency head Jack Teo, while as an OrangeTee agent said, some of his clients have had to cut rents by about 5 to 7 per cent to land a tenant. Upscale projects such as The...
General
There was a spike in interest and transactions at the nine-year-old Compass Heights in mid-July, which property agents attribute to the upcoming launch of Keppel Land’s Sengkang Square condominium called The Luxurie. Keppel Land had announced last month that it is likely to launch the Sengkang Square condo development by year-end. The developer had purchased the 99-year leasehold, 194,000 sq ft site in...
The Singapore City Gallery has officially reopened to the public, and it is sporting a new look. The gallery is the only one in Singapore that details the nation's physical planning efforts. The gallery showcases Singapore's physical transformation over the last 40 years to become one of Asia's most liveable cities. The revamped gallery boasts greater interactivity and content, with some 10 thematic...
Chinese nationals have again emerged as the top non-Singaporean buyers of private homes in the second quarter, acquiring 640 homes in Q2, up 26 percent from 527 units in Q1 2011. According to a new report from DTZ, the proportion of acquisitions made by non-Singaporeans in the second quarter was similar to the 16 percent recorded in the previous quarter. “In absolute terms, foreign purchases were 1,327...
A recent letter to the press has again brought to the surface the concerns of a group of house-hunting citizens whose needs have not gained much attention since the General Election. The writer lamented that the changes announced by Prime Minister Lee Hsien Loong at the National Day Rally speech on Sunday did not address the housing aspirations of HDB upgraders such as himself. He wrote that in 2008, the...
Alpha Core Real Estate Fund has put up for sale two office blocks in the CBD through separate expression of interest (EOI) exercises. A spokesman for Alpha said the EOI exercises are in response to 'strong market interest in our fund's Singapore office assets'. 'The assets are long-term investments but unsolicited offers have been received and it is our duty as managers to explore if selling now will...
More HDB flats may be on the way but upgraders are increasingly turning to the private property market. According to a report by DTZ Research, there is a rising trend of transactions made by purchasers with public housing (HDB) addresses. These buyers bought about 39 per cent of all private residential homes in Q2 2011, higher than the 37 per cent registered in Q1 2011 and the 34.6 per cent in Q4...
CapitaMalls Asia has acquired the remaining 50 per cent stakes in two properties in Shanghai for S$949.7 million. The property developer has entered into conditional agreements whereby it will acquire the remaining 50 per cent stakes each in Minhang Plaza and Hongkou Plaza. In a filing on SGX, CapitaMalls Asia said together with its associates, it will have full interests in the two integrated...
The Ministry of National Development (MND) has unveiled details of its plans for the redevelopment of Geylang Serai, including new plans for the current Malay Village whose lease expires at the end of the year. The move followed Prime Minister Lee Hsien Loong's announcement of the government's plans for Geylang Serai in his National Day Rally Speech on August 14. The 10,000-square-metre Malay Village is...
Private property developer Pontiac Land has returned with the launch of two new luxury developments in Singapore, according to reports. Ardmore Residence (former Pin Tjoe Court) located in Ardmore Park is designed by the Amsterdam-based UNStudio. The development will comprise 58 units with a built-up area of about 3,300 sq ft each.u Hana, the second Pontiac Land project, is located at the corner of...