Most of the capital's luxury real estate projects are encountering poor sales even in the back-to-boom market, industry insiders revealed. Nearly 70 per cent of the property for sale in the 30 most expensive developments remain on the market, where some have languished for more than four years, according to Beijing Times. Figures from the Beijing real estate trading management website, an official portal...
General
The Housing and Development Board (HDB) has said it will look at requests of those affected by the new changes to resale flat applications on a case-by-case basis. It was referring to those who have exercised the Option to Purchase a resale flat and secured a bank loan before August 30, but have not submitted their resale applications to HDB when the policy changes were announced. HDB added that those...
The Urban Redevelopment Authority (URA) has awarded the tender for the hotel site at Clemenceau Avenue/Havelock Road to RB Capital Hotels. The company submitted the highest bid of S$101.1 million for the site. This translates to S$8,751 per square metre per plot ratio. The site had attracted a total of 13 bids, with the remaining bids ranging from some S$50.1 million to S$96 million. The tender for the...
The buoyant economic conditions today have caused hotel room rates in major Asian cities like Hong Kong and Singapore to become more expensive. Corporate travel firm Hogg Robinson Group said the rates grew 3.1 per cent on-year in the first half of the year. It added that the increase in rates would likely hit five per cent by the end of the year. A stay in a Hong Kong hotel may cost US$304.66 on...
THE government has acted swiftly and decisively in introducing rules to dampen property speculation - the third time in a year that the authorities have acted to cool an overheating market. The new rules require for HDB resale flat buyers to sell off any existing private property they own - including property overseas - within six months of the flat purchase. Also, those who want to buy a second property...
Property index climbs mere 0.1% in July The prices of completed condominiums and apartments showed early signs of stabilising in July from the peak levels recorded in previous months. This is according to the latest reading of the Singapore Residential Property Index (SRPI) developed by the National University of Singapore's Institute of Real Estate Studies. The index tracks price movements of a basket...
Landed property within reach if buyers know where to look With property prices hovering near record highs, can some home buyers still realise their dream of owning a landed property? Those who are serious about purchasing a landed property should start with $2 million as a realistic budget to work with, property experts said. "A year ago, especially in the earlier part when the downturn was at its worst,...
Revisiting the Government's core commitments and discussing their relevance to Singapore today My earliest childhood memories are of growing up in an attap hut that was part of a kampung somewhere in Hougang. We drew water from a well and ate by the light of a kerosene lamp. Later, we moved to a small room in a shophouse in Bugis Street, now the site of Bugis Junction, where we slept under - not on - a...
In attempting to describe the top category of residential real estate in Singapore, we often find ourselves struggling with adjectives. Before the Urban Redevelopment Authority came up with the term CCR (Core Central Region), we used to say "9, 10 and 11" in reference to the prime residential postal codes. However, since the frenzy of the 2007 property boom, new terms have cropped up, such as super prime,...
These include greenery, shuttles to main shopping belts, housekeeping, laundry and childcare services The recent move by the Government to cool the residential market is a measured one, targeted at property speculators. It is unlikely to deter genuine home buyers from shopping for their dream home. We believe this group of buyers are now better placed as they could be more selective and choose where and...