Last year was a bright year for Singapore's private residential market. Indeed, it was a year of records, particularly for developer sales activity and prices of suburban private homes. However, with the announcement of the latest Government cooling measures effective on Jan 14, such exceptional performance will cease to be relevant for extrapolating future private residential market performance. In the...
General
Whenever a crime is committed, the top on the list of suspects for any investigator has to be the party that stands to gain the most. So why is it that valuers are the first to be targeted for most of the blame whenever property owners, buyers and sellers do not get their way. As most valuation professionals will readily attest, their fees for housing appraisals cost only a fraction of what a socialite...
SDB Asia's latest property offering is the freehold OKIO Residences in the city fringe region of Balestier. On a land size of about 22,285 sq ft, the single 18-storey block comprises one-bedroom, two-bedroom and penthouse units. Sizes of the 104 units range from 420 sq ft to 1,098 sq ft. There are eight one- and two-bedroom units with private enclosed space, 48 one-bedroom units, 44 two-bedroom units and...
Owners at Bartley Terrace are set to receive $1.14 million to $1.8 million each after the collective sale of the 32-unit property closed on Jan 17. Meadows Investment is paying $40 million for the site near the Bartley MRT Station, said Urban Front Real Estate, which brokered the deal. It said the price translates to about $760 per square foot per plot ratio, after factoring in the development charge...
The Chinese cities of Chongqing and Shanghai yesterday announced the launch of a long-awaited property tax, a day after additional nationwide tightening measures unveiled late on Wednesday by the State Council, China's Cabinet. Chongqing is the world's biggest city with a population of some 32 million. Its mayor, Mr Huang Qifan, announced the pilot scheme yesterday, Chinese news portal Sina.com reported....
At least seven real-estate investment trusts (REITs) are expected to make their debut on the Singapore Exchange (SGX) this year. And like last year's big-ticket IPOs of Global Logistic Properties and Mapletree Industrial Trust, analysts said the listings in 2011 could also include some heavyweights. Experts said the seven upcoming REIT IPOs could together raise around S$4 billion. REIT IPOs in the...
CapitaLand has said it will acquire enbloc property Marine Point for S$100.68 million. The latest acquisition brings CapitaLand's pipeline of homes in Singapore to 2,600 units altogether. Marine Point, located in the Marine Parade neighbourhood, will be acquired at S$1,056 per square foot per plot ratio. This is inclusive of a development charge of S$12.8 million, said CapitaLand in a...
The recent government cooling measures in Singapore's property market will bring down sales volume, but not to the extent of causing a significant fall in prices. According to a report by DTZ Research, sales volume is expected to fall as short-term speculators will be weeded out by the hefty seller's stamp duty of up to 16 per cent within the first year of purchase. However, the property consultancy said...
Cache Logistics Trust reported a distribution per unit (DPU) of 5.588 cents - 1.2 per cent higher than its own forecast. According to its financial statement for the period from April 12 - when it started operations - to December 31, net property income and gross revenue stood at $41.4 million and $42.4 million respectively. The trust operates on a master lease structure, which aims to provide a high...
The outlook for Singapore’s private residential market is cautiously upbeat this year, as the number of new homes sold will likely taper off from last year’s high to a more sustainable level this year, possibly in the region of 10,000 units, said Colliers International. Overall private residential home prices will likely increase at a more moderate rate of five to eight percent this year. Mass market...