Home prices in China's major cities soared by more than a fifth last year, private research showed yesterday, painting a picture at odds with official data following repeated government efforts to tame the red-hot sector. Prices in Hangzhou rose the most, by 47.1 per cent, followed by 37.9 per cent in Chongqing and 37.1 per cent in Beijing, according to the China Real Estate Index System (CREIS), run by...
General
Maison Royale - a 20 unit freehold development in District 11 near Newton Circus, has been sold to developer Giant Land for $46 million. The 14,107 sq ft development was sold last month, up to 40 units averaging 988 sq ft can be built on the site. Giant Land has agreed to buy the property pending the required approval of the Strata Titles Board. The developer might also have to fork out an estimated...
With private home prices at record highs, industry players expect developments catering to the mass market to lead demand this year. They said Singapore property is viewed as good investment, but affordability will be key amid rising prices. Singapore's growing economy and low borrowing rates have injected ample liquidity into the market. Industry players said Singaporeans are looking to invest in...
The Urban Redevelopment Authority (URA) said it has launched the tender for a hotel site at Robertson Quay on Thursday. The land parcel was available for sale through the Reserve List system since April last year. The tender was triggered because URA has received an application from a developer for the site. The developer has committed to bid at a price of not less than S$51.5 million for the land...
A unit of CapitaMalls Asia will sell up to S$200 million in bonds to retail investors to fund its investments. Part of the funds raised will also be for general corporate purposes, the shopping mall developer said in a filing to the Singapore Exchange. CapitaMalls Asia Treasury also announced that it will sell one-year bonds carrying an interest coupon of 1 per cent a year. In addition, it will also sell...
Global Logistic Properties (GLP), which recently made two significant acquisitions in China, plans to expand further in China and Japan as well. Analysts, however, say that managing assets across two of Asia's largest markets could pose a management challenge. Shares in GLP closed almost one per cent higher yesterday, a day after the firm, partly owned by the Government of Singapore Investment Corp, said...
The Council for Estate Agencies (CEA) has stressed that it's an offence for unregistered salesperson to do estate agency work. This includes dealing with buyers and sellers of property, getting involved in the negotiation of the transaction and getting involved in any work after the purchase or sale of the property. Registered real estate agents who appoint unregistered persons to do estate agency work...
Shares of Global Logistic Properties (GLP) gained on the Singapore Exchange, closing 0.93 per cent higher at $2.16 on Wednesday. Investors were cheered by news that it was acquiring a 53 per cent stake in Airport City Development, developer of the Beijing Capital International Airport's cargo handling area. Analysts see the acquisition as a positive for the Singapore-listed warehouse company as China's...
After a strong run last year, it looks like the en bloc market is ushering in the new year with a bang. Apartment complex Whitley Heights is up for collective sale -- the first property to be offered this year. Re-zoned for landed housing, the site should attract substantial interest, according to analysts. Experts said sites like the Whitley Heights apartment complex are a rare find. Located off...
Royal Group Holdings has submitted the highest bid of S$86 million for a hotel site at Robinson Road and Boon Tat Street. The Urban Redevelopment Authority closed on Wednesday, the tender for the site after receiving eight bids in total. Royal Group's bid translates to about S$11,543 per square metre. The next highest bid of S$72 million came from developer Oxley Vibes. The 1,800 square metre site is...