Property consultant Jones Lang LaSalle said Asian buyers are dominating the property market in Asia Pacific. It said in a report that property transaction volumes in Asia Pacific for the first half of 2010 totalled US$38.8 billion. This compares to US$27.7 billion in the first half of 2009. Jones Lang LaSalle said while worries about a double-dip recession in the US and Europe may affect market...
General
Bulk deals involving high-end apartments are gathering speed again. Some funds which invested in Singapore's upmarket residential market are taking advantage of a price recovery in this segment to exit their investments. A German core fund managed by Morgan Stanley is understood to have sold 23 apartments it owned in the Draycott Eight condo for slightly over $157 million or about $2,300 per square foot...
Top bid of $95.07 per square foot per plot ratio comes from Wee Hur Development A TENDER for a 60-year leasehold industrial site at Kaki Bukit Avenue 4 has attracted a top bid of $95.07 per square foot per plot ratio (psf ppr) from Wee Hur Development. Its bid was 17.8 per cent above the next highest offer of $80.69 psf ppr by Winland Pte Ltd, whose directors include Ng Teng Yeng, brother of the late...
I REFER to the letter by Mr Justin Zhuang ('Why it's not right to privatise my HUDC'; Aug 28). HUDC flats were built in the 1970s and 1980s as a housing option for middle-income Singapore citizen families. The scheme to privatise HUDC estates was announced in 1995 as part of the Government's effort to meet the rising aspirations of Singaporeans to own private housing. Privatisation enables the flat...
The Government of Singapore Investment Corporation (GIC) may sell just a minority stake in the listing of Global Logistic Properties (GLP) that is expected to raise a record US$3 billion ($4.01 billion). According to a Reuters report yesterday that cited unnamed sources, GIC may offer shares of its logistics unit at 1.3 to 1.4 times book value in its initial public offering. GLP develops and manages...
An investor hoping to get US$22,500 ($30,000) back from Singapore-based investment firm Profitable Plots had her case thrown out yesterday. The Subordinate Court found that the company did not have any legal obligations to make payments as the contract was not made between the investor and Profitable Plots which is a separate legal entity operating in Singapore. The investor, Ms Tan Lee Pheng, filed a...
It appears that Singapore's resale property market is starting to feel the chill of the government's latest cooling measures. Industry players expect sales transaction to fall by some 5 to 10 per cent by the fourth quarter, while home prices could drop by 5 per cent on average over the same period. The anti-speculative measures were implemented on August 30 to curb runaway private home prices, which have...
Large apartments are becoming scarce in Singapore as developers continue to shrink the sizes of newer units these days. For those who aspire to a bigger apartment and are looking at a value-for-money purchase, HUDC flats are an attractive option. This is clearly the case at the 918-unit Braddell View located on Braddell Hill, where there were four transactions from Aug 13 to 20. “The main attraction is...
Since the cooling measures announced a couple of weeks ago, HDB has seen a fall in the number of applicants for new flats, and the volume of transactions for resale flats has also fallen by about 25%. my paper reported there were 3,225 applicants for the 1,408 units in the Yishun Riverwalk BTO development. While still oversubscribed, the ratio of 2:1 is the lowest in recent months. Last month, the BTO...
THE new property rules introduced to cool the property boom are 'really for the HDB market' and not the private real estate sector, said CapitaLand Residential Singapore chief executive Wong Heang Fine. Mr Wong pointed out that people are still unsure about how the steps unveiled last month will affect the market. 'That will settle in the next two months and then we'll be able to assess what the real...