Melrose Court in Balestier has been sold for S$44 million in a collective sale. The 32-unit residential development at No.10, Lorong Limau was sold to local boutique developer Melrose Land. The property's broker, Colliers International, says that Melrose Court is not linked to Melrose Land and notes that the sale is subject to the approval of the Strata Titles Board. The freehold residential site has an...
General
One day after unveiling cooling measures, the Government has put 3,032 new flats up for sale - the largest supply of public housing in a single launch to date - and released five residential sites for private homes. The five 99-year leasehold plots is expected to yield a total of 2,045 units. Yesterday, the Government announced that under the Build-To-Order (BTO) system, 1,408 new flats will be offered...
New govt measures won't affect genuine buyers: Lim Hwee Hua THE latest slew of government measures to temper the property market is ultimately meant to build up a 'sustainable' market and will not affect genuine buyers, said the Minister in the Prime Minister's Office and Second Minister for Finance and Transport, Lim Hwee Hua. 'What will be sustainable is property purchases or price increases that is...
Developers are widely expected to delay their new launches, now that buying sentiment is likely to be hit by the market-cooling measures. The Government announced new rules on Monday that strongly discouraged speculation on homes. Some analysts said that the changes could dent sales, especially for new launches in the mass-market segment. DMG and Partners property analyst Brandon Lee said the measures...
Despite friends' dissuasion, journalist buys Choa Chu Kang HDB penthouse at whopping $755,000. YES, I paid $100,000 in cash-over-valuation (COV) for my HDB flat. No, I did not mistakenly add an extra zero to that figure. "Gila" (crazy in Malay), said one friend. Totally exorbitant, chided another. But I have only one question: How much would you pay for the home of your dreams? I don't just mean a flat...
Developers will have to work in higher costs for new projects, as the development charge (DC) rates for both non-landed and landed residential homes have been increased. They have gone up by an average of 13 per cent. This is largely within market expectations, given the broad-based recovery in the property sector. But the announcement comes one day after the government announced new measures to cool...
The Singapore Land Authority (SLA) has launched a tender for 33 black and white bungalows at Mount Pleasant. These colonial bungalows are approved for residential use. They will be offered for an initial tenancy period of three years with an option to renew for two more three-year terms. The units have a gross floor area (GFA) ranging from about 200 to 1,100 square metres and a land area ranging from...
The Urban Redevelopment Authority has received 13 bids for the hotel site at Clemenceau Avenue/Havelock Road at the close of the tender on Tuesday. RB Capital Hotels submitted the top bid at S$101 million. This translates to S$8,751 per square metre per plot ratio (psm ppr). The second highest bid of S$96 million came from Tampines Court, a unit of Golden Development. The bid works out to S$8,308 psm...
Hotel room rates in major Asian cities are largely trending upwards, led by Singapore, Hong Kong and Tokyo. Overall, room rates in Asia grew 3.1 per cent for the first half on a year-on-year basis, according to corporate travel firm Hogg Robinson Group. And industry experts expect the rates to increase further - to a maximum growth rate of 5 per cent for the full year. They agree that the better economic...
The Department of Statistics (DOS) said Singapore registered a lower population growth this year due to the slower growth in the number of permanent residents and non-residents. In the advance release of the 2010 Population Census, DOS said Singapore's total population grew 1.8 per cent to 5.08 million as at end June. The number of permanent residents grew by 1.5 per cent, down from at least six per cent...