Almost half of the estimated 8,430 new private homes that are slated to be completed in 2011 will be in the upmarket core central region, according to the Urban Redevelopment Authority (URA). URA has been surveying developers more closely over the last few months in a bid to compile more accurate pipeline supply figures. The agency computes the estimated supply of private housing units in the pipeline...
General
Singapore's tourism destination landmark The Merlion at Merlion Park will undergo a transformation starting February 7 to become a temporary hotel suite. The Merlion Hotel is just one of the many artwork installation projects presented as part of this year's Singapore Biennale organised by the Singapore Art Museum. The temporary hotel will be unveiled on March 11 and opened for public viewing for a...
Private home prices rose by less than 1 per cent last month from the previous month, according to the latest National University of Singapore (NUS) Singapore Residential Price Index. The Singapore Residential Price Index (SRPI) for all properties grew 0.9 per cent month-on-month to 155.5 points. Suburban home prices grew the most, with month-on-month growth coming in at 2.2 per cent to reach 154.8....
Net new office demand surged to 753,473 square feet in the fourth quarter of 2010, the highest quarterly since Q1 2007. The Q4 take-up was triple the 258,334 sq ft for Q3 and took the total for 2010 to 1.65 million sq ft, a sharp reversal of negative demand of about 236,806 sq ft in 2009. 'This once again demonstrates the fast recovery in the office market and the voracious appetite of office occupiers...
Hong Kong is the world's most expensive place to purchase a home because of a shortage of properties on the market, according to a study of four of the world's top cities by real estate consultancy Savills. Hong Kong is 55 per cent more expensive than London, based on an index published on Friday by Savills that compares the UK capital with the other cities. Moscow is 7.4 per cent more expensive than...
Access to nex shopping mall in Serangoon is now much easier. Those taking the MRT can access the mall's basement from the Circle Line side of Serangoon MRT interchange. The entrance was opened last week. The entrance from the North-East Line side is expected to open at the end of March, said a spokesman for mall manager Guthrie Consultancy Services. There is also good news for those who drive. Openings...
Prices of HDB resale flats rose by 2.5 per cent in the last three months of 2010, the lowest quarterly growth for the year. This brings the full year's price increase to 14.1 per cent. According to the latest housing data released by HDB, the total number of resale transactions fell to about 32,260 last year, a 13 per cent drop from 2009. The median cash-over-valuation (COV) fell to S$23,000 in the...
Home prices grew only 1 per cent on-month, according to the National University of Singapore (NUS) Singapore Residential Price Index (SRPI) for December 2010. The Singapore Residential Price Index for all properties grew 0.9 per cent on-month to 155.5 points, compared to 154.1 in November 2010. Suburban home prices grew the most, with on-month growth coming in at 2.2 per cent to reach 154.8, compared to...
Some wonder if they should wait and see if the recent cooling measures push down prices significantly The Government's latest round of measures to cool the residential property market was clearly targeted at short-term investors and speculators. Effective since Jan 14, they include the highly punitive stamp duties which apply to the resale of residential properties within four years of purchase, the...
The Government's move to introduce a new set of property market cooling measures two weeks ago was widely anticipated but the harshness of the measures surprised many. The initial reaction from buyers was mixed. On the weekend immediately after the Jan 14 measures, buyers at Spottiswoode 18 snapped up 170 out of the 251 units launched, surprising many observers. The nonchalant reaction could be because...