Chip Eng Seng Corporation said on Monday its wholly-owned subsidiary, CES Corporation Australia, has jointly acquired a land parcel in Perth. The construction and property group said the latest acquisition will be placed under its new joint venture company called 242 West Coast Highway Scarborough. The joint venture company acquired the land parcel located in Scarborough, Western Australia for A$20...
General
Demand for landed homes in Singapore is expected to remain firm this year. Analysts said the number of sales transactions is likely to surpass the 2,892 units sold last year. Over 1,500 landed homes, excluding good class bungalows, changed hands in the first quarter of this year alone. They were worth about S$3.2 billion, compared with S$5.2 billion for the whole of 2009. The debt crisis in Greece has...
The Strata Titles Board (STB) has approved the collective sale of Dragon Mansion to RL Developments, a wholly-owned unit of Roxy-Pacific Holdings. This makes Dragon Mansion the first collective sale site to have successfully obtained STB's Sale Order under the stricter legislation governing collective sale that came into force in October 2007. At a sale price of S$100.8 million, Dragon Mansion is also...
The Urban Redevelopment Authority (URA) has launched three land parcels at Bukit Batok West Avenue 5 and Senoko Drive for sale by auction. The sites are being released to help meet the heavy vehicle parking needs of transport operators and fleet owners. The Bukit Batok land parcel has an area of 15,592 square metres, while the two parcels at Senoko Drive are about 10,000 square metres each. Registered...
Hot on the heels of the Laguna Park proposed en bloc sale last week, its neighbour Lagoon View is now looking to privatise the entire estate which could pave the way for a possible collective sale as well. At a special general meeting yesterday, the Lagoon View Owners' Association, the management committee behind the plan, has obtained residents' approval to buy back the land within the 30-year-old estate...
Sydney real-estate agent Poh Ling Ee remembers the young couple who came to her hoping she could help them buy their first home for a reasonable price. But with a buying frenzy making Australian homes among the world's least affordable, Ms Poh said her advice was to take the next home they liked and not quibble too much about the cost. "You just pay whatever you have to pay to get it before auction," she...
It took nearly two years and cost $7.4 million but since March this year residents of three rental blocks in Merpati Road have been enjoying new amenities under the Rental Flat Upgrading Programme. Yesterday, Senior Minister Goh Chok Tong, who is also Member of Parliament for Marine Parade GRC, officiated at the completion ceremony. Residents in the 360 rental flats form about 5 per cent of the...
AT A time when record property prices are making headlines here, some Singaporeans are splurging millions in Japan, on freehold ski lodges and apartments in Niseko, a ski town in Hokkaido. Last December, Singaporeans snapped up 16 out of 23 apartments in one development within 1 1/2 months - for a total sum of US$20 million (S$27.5 million) to US$30 million. The Vale Niseko project houses 49 luxurious...
It appears to be a word shunned by the authorities worldwide, to be avoided or used sparingly, usually when its effectiveness in a message is spent. When the International Monetary Fund (IMF) released its 2010 Global Financial Stability report warning of problems in many of Asia's property markets, the closest it got to characterising the markets as bubbles was when it described them as overheating and...
More than 1,800 people have taken advantage of the Housing and Development Board's (HDB) second concessionary loan to downgrade to a smaller flat since the rules were relaxed two months ago. The HDB has received more than 4,000 applications for second concessionary loan. So far, about 1,800 applicants were successful. About a quarter of applications were rejected, while the rest are still being...