One sure indicator of a red-hot property market is the way 99-year homes are being snapped up. Their prices are also skyrocketing faster than freehold units. In the past, most home buyers would give leasehold homes the snub, thinking that freehold ones are superior in terms of long-term value. A freehold title allows the homeowner to have perpetual ownership of the property, while a leasehold title...
General
With the land swap agreement between Singapore and Malaysia settled, market watchers have said the company in charge of developing the land parcels would likely seek a joint venture with an established developer. The joint company, M-S Pte Ltd, is 60 per cent owned by Malaysia's Khazanah Nasional. The rest of it is owned by Temasek Holdings. The Marina South site will be among the six land parcels to be...
Singapore and Malaysia have settled a land swap agreement for four land parcels in Marina South and two land parcels in the Ophir-Rochor area. This goes toward implementing the 1990 Points of Agreement (POA) on Malaysian Railway Land in Singapore. These details were revealed by Singapore Prime Minister Lee Hsien Loong and Malaysian Prime Minister Najib Razak after they met in Singapore on Monday. The...
Naung Court, a 20-unit development at Jalan Naung in the Hougang area, has been sold to developer Orion-Two Residential for S$28 million. The 32,689 sq ft site is zoned for 'Residential' use with a gross plot ratio of up to 1.4 and can be built up to five storeys. This works out to about S$662 per square foot per plot ratio if a development charge is payable. To date, only one unit out of the 20 units...
The property investment market in Singapore recorded S$5.91 billion in sales for the third quarter of 2010. This is an 86 per cent on-year growth, according to property research firm Jones Lang LaSalle (JLL). However when compared to the previous second quarter, investment property sales slipped eight per cent. Still, there are several deals under conditional contracts worth more than S$590 million and...
Rental rates in the private property market are poised to rise with the expected influx of some 80,000 foreign workers this year. Analysts said this is because of the shortage of private housing. And the supply situation may not improve this year, as only 5,000 private housing units are expected for completion by the end of the year. The Government's forecast on the number of foreign workers here comes...
India's property market is gaining ground among investors as the country's economy continues to expand and demand for housing rises. Rising income levels and employment opportunities in the IT industry, manufacturing and business process outsourcing in India are also driving a property boom not only in the cities but also in the suburbs, industry experts said. In particular, properties in cities like...
Home sales in the United States probably increased last month, a sign the real estate market is stabilising after the expiration of a tax credit caused demand to plunge, economists said ahead of reports due to be released this week. Purchases of new and previously owned homes rose 7 per cent to a combined 4.395 million annual pace, according to the median forecast in a Bloomberg News survey. A separate...
Suites at Orchard is located at Handy Road near to Selegie Road and Orchard Road. It is situated next to Cathy Orchard and Plaza Singapura Shopping Mall. Amenities are aplenty around 8 @ Mount Sophia. Supermarket, fashion boutiques, cafes, banks, clinics, salons and other essentials are just around the corner. Schools including the Singapore Management University, School of the Arts & LASELLE-SIA...
The Housing and Development Board (HDB) has closed the tender for a residential site at Hougang Avenue 7 after receiving 6 bids. The highest bid of S$160 million came from Sim Lian Land. That translates to about S$340 per square foot per plot ratio. The next highest bid was S$156 million from joint bidders Hoi Hup Realty, Sunway Developments and SC Wong Holdings. Li Hiaw Ho, Executive Director of CBRE...