OCBC today said in a new report yesterday that mass-market homes in Singapore are looking expensive, while high-end properties, which are yet to hit their previous peak prices, could be even riskier bets because of their reliance on fickle overseas buyers. "The market may choose to 'dance until the music stops', but in our opinion, it is time to recognise the risks of direct investments in residential...
General
Singapore is now Asia Pacific's number one city for real estate investment in 2011, according to a global survey led by the Urban Land Institute and PricewaterhouseCoopers (PwC). The city state has overtaken Shanghai, which has seen falling investor interest due to record-high property prices. But Shanghai's property prices could fall by as much as 20 per cent next year. India presents great returns of...
Analysts have said MediaCorp's move to its new premises at Mediapolis@one-north in 2015 will likely see the existing Caldecott Broadcast Centre campus turned into high-class bungalows. MediaCorp's move was announced on Wednesday morning by Information, Communications and the Arts Minister Lui Tuck Yew at the Asia Television Forum. Analysts said it is likely that the seven-hectare property at the corner...
K-REIT Asia's swap of Keppel Towers and GE Tower for a one-third stake in Marina Bay Financial Centre (MBFC) has received overwhelming support of 98 per cent. Its unitholders voted for the swap at an extraordinary general meeting on Wednesday. The sale of Keppel's one-third interest in Phase One of MBFC to K-REIT aroused some concerns among investors. They said the MBFC purchase consideration could have...
Developers Sim Lian Land and Sim Lian Development have topped a tender for a 99-year-lease residential site at Punggol Central and Punggol Walk. The Urban Redevelopment Authority (URA) closed on Tuesday, the tender for the site, after receiving a total of seven bids.Sim Lian's bid translates to about S$406 per square foot. The next highest bid of S$361.7 million dollars came from Qingdao...
According to property investment house Pacific Star Group, Singapore and Hong Kong are Asia’s most attractive markets for real estate investment. Pacific Star ranked 11 markets in Asia based on several factors including economic outlook, expected total returns, projected property vacancy rates, ease of doing business and socio-political stability. It found that Singapore and Hong Kong got the highest...
Signs have emerged that the Government's cooling measures are having an impact on the property market. According to National Development Minister Mah Bow Tan, home buyers are paying lower cash premiums for Housing Board resale flats, and fewer resale transactions are taking place now. The median cash-over-valuation (COV) amount for HDB resale flats dipped to $22,000 last month, from $25,000 in...
All units at the Robinson Suites, except for the five penthouses, are said to have been sold over a three-day period last week. Three shop units on the ground floor of the 167-unit, 42-storey project have also found buyers. According to The Business Times, the three shops and 132 residential units were released on Thursday, all of which were sold by Saturday except for the five penthouses. The remaining...
Top CEOs and foreign expatriates with deep pockets can expect to fork out about 15 per cent more in monthly rent to live in a black and white bungalow at Mount Pleasant. This according to analysts contacted by Channel News Asia after the master tenancy for the 33 colonial bungalows was awarded to The Ascott, CapitaLand's wholly-owned serviced-residence unit. This is despite Ascott submitting only the...
The Council for Estate Agencies (CEA) received 151 complaints in just the first month of operations. Established on October 22, the new statutory board regulates the real estate industry and can take action against errant housing agents and agencies. On average, the council received six complaints daily between October 22 and November 28. Some were over misleading information on advertisements and...