Sales of private residential properties increased in April. 1,788 private homes were sold last month, according to data released by the Urban Redevelopment Authority (URA) on Monday. That's a 29 percent month-on-month increase from the 1,386 units sold in March. Including Executive Condominiums (ECs), total sales would have reached an even more impressive figure of 1,901. Chalking up the best sales was...
General
Prices of units at Watermark@Robertson Quay hit a high of $1,879 psf last month as the three-year old condominium played catch-up with neighbouring projects overlooking the Singapore River. From April 12 to 19, there were three transactions at Watermark, with prices ranging from $1,647 to $1,879 psf. Keith Tan, an agent with APRO Realtors, says there has been increased interest in Watermark, owing to the...
The Urban Redevelopment Authority (URA) is encouraging developers of shoebox units to increase the size of their units, up from 28 sq m to 35 sq m, according to a report in The Business Times. Many analysts said that promoting bigger shoebox units may likely help to cool the property market since the micro apartments have been blamed for fuelling increases in psf prices at property launches. A...
For private property owners, the 60-year mark is considered a major milestone — they could either watch their properties depreciate in value or opt for a collective sale. Although banks are generally reluctant to lend to owners of older properties, things are not as bad as they seem since there are still some banks that are flexible with mortgages on older properties, and there is the Central Provident...
Aspial Corporation has submitted an offer through its subsidiary World Class Land to purchase Chong Kim Apartment at 8 Bassein Road for S$41.1 million. The apartment was offered for sale by tender on May 12. Aspial says the offer has been accepted. The freehold Chong Kim Apartment has a land area of 1,426.9 square metres and is zoned for residential use. It has a plot ratio of 2.8 and can be developed...
Roxy-Pacific Holdings is acquiring a strata-development site at 80 Changi Road for S$53.2 million. The freehold site has a land area of 2,455.7 square metres and will hold a proposed commercial development with a plot ratio of 3.0 The acquisition will be fully funded through Roxy-Pacific Holdings' internal funds and bank borrowings. It says the acquisition is not expected to have any material impact on...
Property company UOL Group says its first quarter net profit rose by 133 percent on-year to hit $230 million for the three months ended March 31st. Its revenue for the quarter increased by 103 percent to $725 million. UOL says its results for 2010 were restated due to the adoption of new accounting policies effective from 1 January this year. Excluding the effects of this adoption, attributable net...
I have always advised potential new home owners or genuine upgraders that their main motivation to buy a property should be based on need and not greed. Buying in advance slightly ahead or delaying a purchase for a short period of time is alright but not when it is too far from the period of need. Buying ahead may mean getting married earlier than planned - when there are still issues to be resolved. At...
Property developer Wing Tai is holding a public preview of its Foresque Residences from tomorrow. The 99-year leasehold property is located in Upper Bukit Timah, along Petir Road and between Chestnut Drive and Dairy Farm Road. The 24-storey development has 496 units and sits on a 244,000 sq ft site. Foresque Residences offers one- to four-bedroom apartments, Cabana units and penthouses, which range from...
The Urban Redevelopment Authority on Thursday awarded a residential site at the junction of Jalan Loyang Besar and Pasir Ris Drive 4 to MCL Land, which submitted the top bid of S$246.1 million at the close of tender on Tuesday. There were only three bids submitted, with observers saying this was because developers were concerned over potential competition from projects at nearby sites, including those at...