Only eight non-landed homes were sold during the first two months of 2011 in Sentosa Cove, once a hot spot for property investment in Singapore. This represents a decrease from the 17 transactions in Q4 2010 and well below the 71 transactions in Q2 2010. The opening of City Developments’ (CDL) The Residences at W Singapore accounted for 19 of the total sales. Considered an exclusive segment of the...
General
In Singapore, a Good Class Bungalow (GCBs) is uncommon but even less ordinary is the story of Mr. George Lim, who has become a prime developer of these high-class homes. Since 2006, Mr. Lim, 59, has redeveloped and sold seven bungalows, worth a total of S$145 million. Recently, he made the headlines after paying S$61.4 million for a 41,852 sq ft site in Leedon Park. Following his typical strategy, he...
Mass market prices of private apartments in Singapore have climbed to new highs in the first quarter of this year, mainly driven by demand from mainland Chinese buyers. Average values of properties are now at S$1,935 psf in prime areas, and S$1,043 for non-prime areas, the highest since the first quarter of 2008, according to a release from Jones Lang LaSalle. Prime market property sales continue to be...
It was once where he had lunch in the canteen in between working and learning from first-generation political leaders like Dr Goh Keng Swee. But now The Fullerton Hotel has evolved into a thriving commercial and heritage space in the Central Business District that will help give Singapore a "significant competitive edge" to grow the financial sector, said Senior Minister Goh Chok Tong. Having prime space...
Property developers Intrepid Investments, Sunmaster Holdings and TID Residential have jointly submitted the highest bid of S$413.3 million for a residential site at Bartley Road/Lorong How Sun. The Urban Redevelopment Authority (URA) received a total of eight bids at the close of the tender on Wednesday. The second highest bid of S$410 million came from Sherwood Development. The 22,094 square metre...
Mass market prices of private apartments in Singapore have climbed to record highs in the first quarter of this year, mainly driven by demand from mainland Chinese buyers. Average values of properties are now at S$1,935 per square foot for prime areas, and S$1,043 for non-prime areas, the highest since the first quarter of 2008, according to a release from Jones Lang LaSalle. Prime market property sales...
Office rents may be on an upward trend, but experts say that they will rise at a more moderate pace. In a report out Wednesday CB Richard Ellis (CBRE) said that prime rents averaged S$8.60 per square foot per month in the first quarter of 2011. This reflects a more moderate quarter-on-quarter increase of 3.6 per cent in comparison to the 7.2 per cent increase in Q3 and 12.2 per cent in Q4 of 2010. CBRE...
Senior Minister Goh Chok Tong said having prime space at downtown Marina Bay to expand the Central Business District gives Singapore a "significant competitive edge" to grow the financial sector at a time when opportunities in Asia abound. He added Marina Bay is a great example of how the country has risen from "mudflats to metropolis". Speaking at the 10th anniversary celebration of the Fullerton Hotel,...
A second land parcel in Jurong Lake District was launched for sale by public tender on Wednesday. The Urban Redevelopment Authority (URA) said the land parcel located at Jurong Gateway Road was made available for sale through the Reserve List System in October 2010. An unnamed developer has committed to bid at a price of not less than S$510 million for the land parcel, triggering the sale...
Rental growth for offices in secondary office areas at the fringe of Singapore's CBD and outskirt areas outpaced those in Raffles Place in the first quarter. According to DTZ Research, the average gross rent of offices in Raffles Place rose 3.3 per cent quarter-on-quarter to S$9.30 per square foot per month in the first quarter, compared to a 7.5 per cent to 10 per cent increase in other areas. The...