HDB dwellers accounted for a lower proportion of overall private property transactions in 2010 than in the previous year, according to a DTZ analysis based on data from the Urban Redevelopment Authority (URA). Many of those who purchased private property also opted to take up small units measuring less than 1,000 sq ft, it said. “I think it has to do with the higher (property) prices,” said Chua Chor...
General
The property cooling measures did not deter crowds from visiting a number of launches over the weekend. Many projects, including My Manhattan and d'Leedon, saw a steady stream of visitors, although the number of sales was not quite enough to nudge prices north. If the first phase of a launch is successful, developers could be tempted to increase prices to cash in - but that sort of buyer enthusiasm was...
The Urban Redevelopment Authority (URA) has released on Friday the detailed sales conditions for an industrial site located at Pioneer Road North. It has a site area of about 1.7 hectares and a maximum permissible gross plot ratio of 2.0 with a lease period of 30 years. Zoned for Business 2 development, the site can be developed for various uses such as light industry, general industry, warehousing,...
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Prices for landed properties have skyrocketed by 63 per cent since the property market hit a low in the second quarter of 2009. In the 12 months of last year, the overall landed property index climbed 30.8 per cent, with prices for detached houses gaining a whopping 37.6 per cent, while prices for semi-detached and terrace houses grew 26 per cent. While most home searchers believe that landed property...
A 99-year leasehold land site for condominium housing in Bishan attracted a record 19 bids at the close of its tender by the Housing and Development Board yesterday - the highest number of bids in 12 years. This is one bid higher than the Simei Street 3 tender in May last year. That site has since been developed into the My Manhattan by CEL Development. The highest bid for the Bishan site came from...
In an online poll of about 400 people that The Straits Times conducted on the eve of the announcement of the Budget, inflation worries ranked as the most urgent issue respondents wanted to be addressed. This did not come as a surprise but "lower housing prices" was ranked second among nine issues which included providing assistance to the sandwiched class, narrowing the income gap, boosting the birth...
Perennial China Retail Trust, a unit of property investment firm Perennial Real Estate, on Thursday said that it aimed to raise S$1.1 billion through an initial public offering via a business trust in Singapore, making it the first of several big ticket listings planned in the city state this year. In a prospectus filed with the Monetary Authority of Singapore, Perennial China Retail Trust said that it...
City Developments Limited (CDL) is poised to increase its stake in the consortium developing the South Beach project, after it exercised its right of first refusal to acquire one-third stake of Dubai World in the consortium and met conditions for the transaction, said sources. This means that CDL's stake will increase to two-thirds, from the previous one-third. In 2007, Dubai World, CDL and Elad Group...
The gap between landed and non-landed property prices has narrowed in psf terms over the past two years, according to analysis by a real estate company. As of end March 2009, detached, semi-detached and terrace houses transacted at discounts of 38, 36 and 23 percent respectively, as compared to non-landed units in psf terms. While the gaps narrowed by end 2010, landed homes are still transacting at more...