There's an insatiable demand for owner-occupied property now, but what happens later? The spectre of a possible looming oversupply in Singapore's housing market - including both the private and public sectors - in the not-to-distant future was again brought back to the fore when the HDB announced on Wednesday its biggest launch ever of new Build To Order (BTO) flats. The 2,696 flats offered brings the...
General
With private property prices hitting their highest levels in the last two years, young professionals are feeling the pinch when it comes to buying their first home. Mr John Ng, a newly-wed entrepreneur, said he is looking only at options that are within his means. "We won't be looking at brand new units because they are very expensive, we will be looking at 10 to 15 year-old units because they are still...
Private home prices remained firm in the second quarter, sending the residential property price index to a record high of 184.1 points. Private residential prices increased by 5.2 percent quarter-on-quarter in the April-June period, according to flash estimates released by the Urban Redevelopment Authority (URA) on Thursday. The figure beats the 3 percent rise forecast by some analysts. But market...
Prices of resale HDB flats went up for the fifth consecutive quarter to surpass the 1996 peak by nearly 18%. HDB's flash estimate for the second quarter showed the Resale Price Index (RPI) rise 3.8% on-quarter to 160.9, surpassing the 1996 peak of 136.9 points. Some analysts said the second quarter tends to see the strongest activity as many home buyers leave their flat purchases till after the Lunar New...
The Housing and Development Board, HDB, has launched three sites for sale by tender under the second half of the Government Land Sales or GLS Programme. Two of them are residential sites and one is a mixed commercial-residential site. The mixed development site is located at the junction of New Upper Changi Road and Bedok North Drive. One of the residential sites in Jurong West is meant for an executive...
The Housing and Development Board's (HDB) latest Build-To-Order (BTO) project, Waterway Terraces in Punggol, is six times oversubscribed, just a day after applications opened. Five-room flats are the most popular, receiving almost 1,800 applications for the 306 available flats. Four-room and three-room units are also oversubscribed. Four-room flats received 2,461 applications for 306 units, while 268...
The Singapore Land Authority (SLA) will re-launch a tender for the Old Admiralty House, part of the former British naval base in Sembawang. SLA has terminated its contract with YESS Resorts and Country Club, which had converted the national monument into a country club. YESS had taken over the premises in 2007 for a monthly rent of $40,000. This was also the first time a preserved monument was tendered...
The Ascott has invested A$168 million to develop its first Citadines serviced residence in Melbourne. Comprising 380 units, the new Citadines Melbourne on Bourke will be the company's largest Citadines-branded serviced residence in its global network. The launch of Citadines Melbourne further reinforces Ascott's foothold in Australia. It currently has a total of 884 apartment units in eight properties...
AUSTRALIA-BASED StayWell Hospitality Group is looking to stamp its Park Regis and Leisure Inn brands on more properties in Singapore and the rest of Asia. The first Park Regis hotel here is set to open in September, and the group also has the country's first Leisure Inn hotel on the drawing board. StayWell may be rather new to Singapore, but it is not venturing unassisted. The group's chairman is Asok...
The Singapore property auction market rose 20 per cent on-year in the first half of this year to S$87 million, according to property consultants Colliers International. A total of 440 properties were put up for auction, of which 378 properties were from property owners while only 62 were mortgagee sales. Colliers said the sharp fall in the number of properties put up for mortgage sale is a reflection of...