Jeweller and property developer Aspial said on Friday it was buying some properties in the vicinity of Lorong Chuan. Through its subsidiary, World Class Land, the firm is buying several plots, together with the premises at 101 and 103 Cardiff Grove for some S$31.63 million. The land was on Thursday offered for sale by tender. Aspial said it intended to develop a 180-unit condominium at the newly...
General
Singapore is about 700 sq km in size and has roughly 890,000 public housing, 70,000 landed residential and 187,000 non-landed residential units. It is a small country with a small residential property market compared to 100 or more countries. However, the challenge of keeping tab on the physical supply of residential units in Singapore seems insurmountable, especially when trying to estimate future...
Judging from present trends, the landed segment appears to be headed for new highs Six weeks ago, this paper featured my article, Quest for landed property picks up. In it, I touched on the growing scarcity of landed properties in Singapore and its impact on demand and prices. We observed how landed property prices outperformed non-landed prices during this market upturn. Landed home prices rose 43.2 per...
If there is anything remarkable about the recently-released developer sales for last month, it has to be the spectacular return of HDB upgraders to the housing market. In all, 1,597 units were sold during the month, of which about a third or 529 were executive condominiums (ECs). They helped propel developer sales to a dazzling 74 per cent gain over the previous month. The release of new ECs for the...
Office rents in Singapore posted their biggest jump in the third quarter since the end of 2007, led by increasing demand from financial institutions, insurance firms and professional business-services companies. According to property consultancy CB Richard Ellis, prime rents in Singapore climbed 7.2 per cent from the previous three-month period, to $7.40 per sq ft per month. Major leasing deals in...
The Sim Lian Group is launching the first phase of its latest project, Waterview, today. Some 348 of the 696 units will be launched at about $838 per sq ft. The 99-year leasehold condominium is located at the junction of Tampines Ave 1 and Tampines Ave 10 . It sits on a land area of 341,654 sq ft and comprises twelve 15-storey blocks. It features 2-to 4-bedroom units, as well as 6-bedroom single-level...
The Housing and Development Board (HDB) has launched 1,176 standard flats in a new build-to-order (BTO) project in Yishun. As much as 95 per cent of the project, Yishun Greenwalk, will be set aside for first-time buyers, it said yesterday. With the launch, HDB has offered a total of about 16,700 new flats for sale under its BTO and the Sale-of-Balance-Flats programme since the start of the year. The...
The International Monetary Fund (IMF) yesterday warned of increasing risks of a property bubble in Hong Kong amid continued liquidity inflows and rock-bottom interest rates and urged the city's government to take further measures to rein in the booming real estate market. The IMF said that while the city had returned to robust growth, it saw rising inflationary pressures fuelled in large part by soaring...
In Shanghai's overheated property market, buyers typically gravitate towards glossy new buildings, and the more luxurious, the better. But Ms Hebe Ting, a property investor from northern China who moved to Shanghai in 2001, has always been attracted to the traditional, specifically, the fast-disappearing early - 1900's lane houses in the former French Concession. "I didn't want to live in a big new...
Office rents in Singapore posted their biggest jump since the end of 2007 in the third quarter, led by increasing demand from financial institutions, insurance firms and professional business services companies. According to property consultants CB Richard Ellis (CBRE), prime rents in Singapore climbed 7.2 per cent from the previous three-month period, to S$7.40 per square foot per month. Major leasing...