Property developers have continued to see good take-up at their residential projects over the past week. CapitaLand sold 48 units at d'Leedon, located at the former Farrer Court site, at an average price of $1,680 psf. The developer previewed the project to only former Farrer Court owners, with the show gallery drawing 266 people. Units sold were one-plus-study units, two-bedders and three bedders....
General
It’s easy to understand why The Sail is the most actively traded project in the prime Marina Bay area. When the 63-storey Tower Two of the 1,111-unit project was first launched in 2004, units were priced at $900 to $1,000 psf, while the first batch of 100 units released at the 70-storey Tower One a year later averaged $1,080 psf. Today, on the secondary market, owners of units with pool views are asking...
National Development Minister Mah Bow Tan said there are signs that measures to cool the property market have taken effect. There has been at least a 20 per cent drop in HDB resale transactions this quarter while Cash-over-Valuation (COV) is down some 10 per cent from the third quarter. Mr Mah was speaking at the ground breaking ceremony of the SkyVille@Dawson and SkyTerrace@Dawson on Saturday...
Rock-bottom interest rates the flow of overseas money into the market are just the ingredients that could heat up property prices and encourage excessive borrowing. But the Monetary Authority of Singapore (MAS) said the Government is keeping a close eye on the market and is ready to introduce additional cooling measures if necessary. MAS's annual Financial Stability Review warned that the flow of funds...
Developers looking at prime Marina Bay land might have to wait until at least 2013. That is when the Government is expected to start releasing 11 parcels of land in step with the completion of infrastructure works in the area. These projects include the Downtown rail line and the Marina Coastal expressway, which will be completed in phases in the next few years, said the Ministry of National Development...
It's all about giving hope for a better future Over the last two months, I have shared my thoughts about public housing in Singapore - why we actively promote homeownership, why the Housing and Development Board (HDB) has to build different flats for different buyers, and how flats are made affordable. But the path to homeownership is not always easy for some families, especially if they fall on hard...
The Urban Redevelopment Authority (URA) has released detailed sales conditions for a mixed commercial-and-residential site at Jelebu Road and Petir Road. Located within Bukit Panjang Town Centre, this land parcel is made available for sale on the Reserve List under the second half of the 2010 Government Land Sales Programme. Developers interested in purchasing the site can now apply to URA for it to be...
Paramount Hotel & Shopping Centre has been sold to Orchard Mall for S$214 million. This is the biggest collective sale in the commercial property market this year. The site comes up to nearly 102,000 square feet and has a gross plot ratio of up to 3.0 Jones Lang LaSalle, manager of the sale, said the freehold site has a potential gross floor area of up around 308,000 square feet. This works out to...
The world's largest Shari'ah-compliant REIT by total assets opened to a sluggish start on its first day of trade in Singapore because of weak market sentiment. Sabana Industrial Real Estate Investment Trust or Sabana REIT closed its first day of trade at S$1.02. That's 2.8% lower than the IPO price of S$1.05. While it may have been a tepid debut for Sabana REIT, some analysts said they expect strong...
Just when you think that the cost of money in Singapore cannot possibly get any cheaper, this paper reported on Wednesday that the battle among banks here to secure more home mortgages is intensifying. Malaysian bank CIMB is offering to charge private-home buyers only 0.65 per cent more than the three-month Singapore Interbank Offered Rate (Sibor), which is currently at 0.44 per cent, for the first two...