From Mumbai to Melbourne, Asia’s property boom is stalling as the world’s highest interest rates and government efforts to curb prices take hold. In China’s biggest cities, growth slowed in April after the government stepped up property measures. In India and Australia, prices are falling after the steepest interest rate increases among major economies. In the financial hubs of Hong Kong and...
General
The Urban Redevelopment Authority (URA) has awarded the tender for a residential site at Flora Drive to Frasers Centrepoint. The developer submitted the highest bid of nearly S$131.4 million, which translates to about S$3,499 per square metre. Potentially yielding an estimated 380 housing units, the land parcel is located in a Pasir Ris residential estate. The plot has a site area of about 26,800 square...
Mapletree Logisitics Trust has completed the acquisition of KPPC Pyeongtaek Centre in South Korea's Gyeonggi-do province for about S$85.9 million. The property, which has been fully funded by debt, is one of the largest facilities in the Gyeonggi-do province, the trust said in a statement. Mapletree Logistics Trust announced the acquisition in May, saying it is a major step to tap opportunities for...
Some truths are cast in stone. In real estate, "location, location, location" is said to be the most important thing that determines a property's value. In economics, the law of supply and demand - the more there is of one item, the lower its price - is often the foundation of all market theories. Both of them are about to converge in Singapore's housing market, where at least 10,000 new homes could...
His predecessor had announced the review and, yesterday, National Development Minister Khaw Boon Wan gave the numbers to suggest that the income ceiling for new Housing and Development Board (HDB) flats will, indeed, be raised from the present S$8,000. In last month's Build-to-Order (BTO) exercise, more than half of the first-timers had applied under HDB's Fiance-Fiancee Scheme and had a median age of 27....
Prices of flats released under the Housing and Development Board's (HDB) latest Design, Build and Sell Scheme (DBSS) have raised eyebrows among some analysts. In a central location within a mature estate, Centrale 8's 708 units in Tampines range from S$397,000 to S$510,000 for a three-room flat, to S$685,000 and S$880,000 for a five-bedroom unit. Four-bedroom flats will cost between S$531,000 to...
Sales of residential private housing in the first half this year are set to beat the second half of 2010. But analysts said that will not prompt the government to introduce more property cooling measures in the short term. However, they noted that the last round of cooling measures may have had an unintended effect on driving up public housing prices. For the first five months, 6,810 private homes were...
Singapore's first multi-storey car park in the financial district, Market Street Car Park, will be demolished by June 30. This will include the food court and shops within the car park, which is located in the heart of the Central Business District (CBD). Market watchers said many people working in the area are dependent on the car park. In previous reports, they also said the move might increase the...
The Urban Redevelopment Authority (URA) has received four bids for a 99-year residential land site at Flora Drive. At the close of the tender on Thursday, the highest bid came from Frasers Centrepoint, which submitted a bid of S$131.4 billion. This works out to about S$3,499 per square metre. The next highest bid was from Tripartite Developers at S$130.8 million or about S$3,484 per square metre,...
Residents living near Republic Polytechnic in Woodlands could see greater interest in their properties. This is because the Land Transport Authority (LTA) said they plan to build a station there that will integrate the upcoming Thomson Line (TSL) with the proposed Rapid Transit System (RTS) Link. This station will be the northernmost terminal station of the Thomson Line. The LTA also announced plans to...