Property consultant DTZ Research said Singapore's investment sales market is seeing an increase in larger deals sealed. For the second quarter this year, there were 15 deals worth over S$100 million totalling some S$3.5 billion. Such deals make up nearly three-quarters of the total investment value of S$4.71 billion in the second quarter. The figure is much higher than the nine transactions of over...
General
Property consultancy Jones Lang LaSalle said residential capital values in the resale market for the private condominiums continued to rise on the back of encouraging sales volume in the second quarter of this year. The firm said estimates showed that the prime and central capital values led the way in the quarter's growth by registering 8 per cent and 7.6 per cent on average. The prime market saw...
Real estate consultancy firm CB Richard Ellis (CBRE) has launched Villa D'Este at Dalvey Road for collective sale. Villa D'Este is a 12-unit apartment project which sits on an area approved by the urban planners for 'Good Class Bungalows'. 'Good Class Bungalows' are the most exclusive housing form. The freehold site has an area of 55,480 square feet and a gross floor area of 49,071 square feet. CBRE...
CapitaMalls Asia (CMA) is buying a Malaysian mall from an associate firm of Metro for S$91.5 million after the Metro unit exercised a put option. The move by Metro's Gurney Plaza requires CMA's CapitaRetail Gurney to buy the property called Gurney Plaza Extension. Located in Penang, Gurney Plaza Extension is a nine storey retail block. It is part of the Gurney Park development and has about 12,500...
Developer CapitaLand said on Monday that Mr Wong Heang Fine has assumed the chief executive officer position at CapitaLand Residential Singapore. Mr Wong's appointment follows the departure of Ms Patricia Chia, who is leaving the company to spend time with her family. In a statement, CapitaLand said Mr Wong will concurrently continue in his present role of developing CapitaLand's business in the Gulf...
Property prices continue skywards in Singapore and on Sentosa. On Jul 1, the Urban Redevelopment Authority (URA) released the flash estimates of the property price index (PPI) for 2Q10 which indicated that property prices are above their 1996 peaks. But before you pop the champagne, analysts are sounding words of caution. Donald Chua, property analyst at CIMB says in a report dated Jul 2: “We view this...
Imagine viewing a showflat without actually being there. Well, a new 3G video application will let you do just that on your mobile phone. Software company Oasis Systems is launching the world's first mobile service for the real estate industry. The application will debut in Australia in less than three months and could be made available in Singapore. Take a "walk" around the living room, or visit other...
Observers say Korean pension funds have been aggressively investing in commercial real estate in Asia. According to Woori Investment & Securities, the Korean National Pension fund has put nearly US$3 billion into real estate in the past six to nine months alone. And it appears investors are favouring commercial properties over residential ones to get better returns. Private home prices have enjoyed...
Guthrie GTS has sold its properties at 112 to 116 Amoy Street to Sun Venture Invesco for S$24.5 million. The sale price was negotiated on a willing-buyer and willing-seller basis after taking into account current market conditions. Guthrie expects to record a net surplus of S$1.85 million from the sale of the properties. Guthrie said the Amoy Properties are not its core assets and the transaction will...
PRICES of private residential properties have crossed the peak reached in 1996 in the second quarter, according to flash estimates by the Urban Redevelopment Authority (URA). The private-residential-property price index, based on URA estimates, rose from 175.0 points in Q1 to 184.1 points in Q2. While this increase of 5.2 per cent is lower compared with the 5.6 per cent rise in the previous quarter, the...