The Canopy in Yishun had sold all the 20 units allocated to upgraders and another 80 or so units were booked by first-time buyers over the weekend, said Mr Tan Zhi Yong, managing director of the developer MCC Land. The executive condominium (EC) - only the second to be launched in the last five years - has 406 units in total. In the first month of sale, 95 per cent of the units are set aside for...
General
The number of used home sales in some of Hong Kong's biggest private housing estates jumped 90 per cent at the weekend compared to the previous weekend, underscoring optimism that government measures may only have limited impact on home prices. There were 116 deals recorded over Saturday and Sunday at various projects, including Tai Koo Shing in the Island East district and Mei Foo Sun Chuen in Kowloon,...
Are executive condominiums (ECs) better investments than private housing? Some ECs have gone up more in price over the years than private mass market condominiums in the same areas. Bishan Loft, Woodsvale and The Eden are chalking up higher price gains compared to nearby mass market condos launched during the same periods. An example will be Pinevale, an EC in Tampines launched in 1997 at $450 psf, has...
In the near future, many people will look back and regret that they did not take any action to benefit from it THE property market goes through a constant cycle; the prices go up, plunge a little and fall back into place. This cycle waits for no one and investors do not halt on property purchases despite the constant flux. At any point in the economic and property cycles - whether in good times or bad -...
When investing in real estate, buy with your head - not your heart. IT HAS been three years since the Dow Jones was at its peak of over 14,000 in October 2007. The last 36 months have been tumultuous for investors. Major institutions collapsed, some even disappeared. During that time, portfolio managers kept having to adjust and shift, seeking safety in products such as fixed-income instruments and...
THE Government is always on a look out for potential bubbles, especially in property, said Senior Minister Goh Chok Tong. 'We periodically act pre-emptively to let some air out of property bubbles before they burst with a bang. And what has proven effective in cooling the property markets are direct and targeted measures.' These include reducing the maximum loan for buying a second residential property...
The Republic's property market met a frosty reception last month as the Government's cooling measures appear to have tempered demand. Data released on Friday by the Urban Redevelopment Authority (URA) showed that 911 private homes were sold last month - a 27-per_cent drop compared to August, when 1,259 units changed hands. The September figure was the second-lowest monthly sales recorded this year. In...
Upgraders are now betting on the West Coast of Singapore, where competitive pricing continues to drive strong demand for private condominiums. One such example is Palm Gardens, a 694-unit development at Hong San Walk, off Choa Chu Kang Avenue 1, which saw three transactions at prices ranging from $564 to $633 psf in the period of Sept 14 to 21. Early last month, a 958 sq ft, two-bedroom unit on the third...
Mainboard-listed developer Guocoland on Friday said its net profit rose 9 per cent on-year to S$13.4 million in the first quarter ended September 30. This is compared to S$12.4 million for the same period last year. Revenue for the three months ended September grew 15 per cent to S$109.9 million. This is largely due to progress in the construction of development projects such as Goodwood Residence,...
CapitaMalls Malaysia Trust (CMMT) said its distribution per unit (DPU) for the third quarter will be 0.66 Singapore cents. This is its first reported results since its listing in mid-July this year. CMMT said its distributable income came in at S$8.9 million for the quarter. Net property income amounted to S$12.7 million. With an annualised DPU of 3.04 Singapore cents, CMMT said it was on track to...