Outlook still favourable but mass market properties more popular BUYERS are still showing relatively muted interest in the most luxurious homes in the city centre, the latest set of new home sales data shows. But they are making a beeline for very popular mass market homes, followed by mid-tier units, the figures show. Property experts say the outlook for the luxury sector remains favourable, though...
General
Freshly launched unit at The Scala in Serangoon also up for auction OWNERS of Newton View have climbed aboard the collective-sale bandwagon, putting their estate up for tender with an indicative price of $153-155 million. The freehold residential development at 26 Newton Road (between Newton and Novena MRT stations) sits on a 37,577 square foot site with a plot ratio of 2.8 and a permissible gross floor...
DEVELOPERS' sales of private homes surged 82 per cent month on month to 1,544 units in July from the low of 847 units in June, according to latest official figures. This reflects a resumption in home buying, which had taken a breather during the school holidays and World Cup. However, sales are expected to slip to around 800-1,000 units again in August, on the back of slower launches during the Hungry...
Mr. Mah Bow Tan, Minister for National Development, has dispelled rumours that the recent increase in private property prices is a solely due to foreign buying. Speaking in parliament on Monday, Mr. Mah said, "foreigners' share of all sale transactions of private residential properties in Singapore is relatively small. "In 1st half 2010, foreigners accounted for about 13 per cent of all private housing...
Office space take-up rates continue to strengthen in Singapore and across Asia Pacific. According to Jones Lang LaSalle, this is due to improved economic climate and stronger business confidence. Jones Lang LaSalle said that in the second quarter of this year, take-up of office space across Asia Pacific's Tier I cities increased by 13 per cent on-quarter to 1.3 million square metres. It added that in...
The Urban Redevelopment Authority (URA) has received a total of 14 bids for the closely-watched commercial site at Stamford Road and North Bridge Road. Many bidders have submitted multiple concept proposals for the 1.43-hectare site. Among them, Perennial Trust, Real Estate and Chesham Properties jointly put in two bids, while Far East Organization submitted three. Wing Tai Group also submitted two bids...
Observers said there could be a shortage of hotel rooms in the next six to 12 months because of more visitors coming to Singapore. In the first half, tourist arrivals grew 23 per cent on-year, but the supply of hotel rooms rose just 16 per cent. 6.5 million visitors arrived in Singapore in the last seven months. Observers said Singapore also has a fairly large captive market, with some three billion...
JTC Corporation on Wednesday said its net allocation of prepared industrial land rose 5 per cent to 24.4 hectares in the second quarter of this year. That is up from the 23.2 hectares achieved in the previous quarter. According to JTC's Quarterly Facilities Report, healthy take-up by chemicals-related companies on Jurong Island provided support for the quarter's performance. Gross allocation in the...
SELEGIE Centre, located in prime District 7, has been put up for sale by tender with an indicative price tag of $110 to $125 million. Residents and shopowners of the 25-year-old mixed development located at the Selegie Road and Mackenzie Road junction yesterday officially announced that they had attained approvals from 83 per cent of the shareholders for the en bloc sale. A previous attempt to sell the...
$13.6 million sale price is well below estimated valuation of $17 million A LUXURY bungalow in Sentosa Cove with a grim past has been sold for $13.6 million - a bargain price, well below its valuation. A caveat has just been lodged for the sale of the three-storey bungalow in Ocean Drive where Chinese national Li Hong Yan's naked body was found floating in a pool in March. The 8,051 sq ft property was...