A TAIWANESE couple have paid $650,000 for a four-room flat in Bain Street - smashing Housing Board (HDB) records and reflecting the strength in the red-hot resale market. The sale price works out to be $736 per sq ft (psf) for the 30-year-old flat on the 25th floor of a block at Bras Basah. That is the highest psf price paid for an HDB property and is on a par with prices of private homes in suburban...
General
The government yesterday defended its policy of managing price movements in the private housing market and also stood by its method of supplying developers with state land sites. It was responding to Wednesday's speech by the president of the Real Estate Developers' Association of Singapore (Redas), Simon Cheong, who said that the government should allow the private property market here to operate as a...
CLAIMS that the Government is partly to blame for Singapore's short supply of land and high property prices have been firmly rebutted by the Ministry of National Development (MND) yesterday. President of the Real Estate Developers' Association of Singapore (Redas), Mr Simon Cheong, questioned on Wednesday the need for government intervention to halt the rise of private home prices, adding that it should...
THE Urban Redevelopment Authority has launched the tender for an industrial site next to Seagate's facility in Woodlands. An unnamed developer has agreed to bid at least $25 million or $28.78 per square foot per plot ratio (psf ppr) for the 60-year leasehold plot. The site is zoned Business 1, which means light and clean industry and warehouse uses are allowed. The 347,451 sq ft land parcel can be built...
HONG Leong Holdings has sold all 202 units in its upmarket 76 Shenton condominium in just one day. The one- and two-bedroom apartments in the 99-year leasehold project were snapped up after a ballot yesterday. One-bedroom units went for $1,600-$2,600 per sq ft, and two-bedders for $1,600-$2,300 psf. Hong Leong attributed the fast sales to the project's location in Shenton Way, attractive pricing,...
WORRIED by an impending 30 per cent rise in rents next month, stallholders at five wet markets owned by supermarket chain Sheng Siong are now figuring out their next moves. Several have said they will have no choice but to raise prices; others fear they may have to let helpers - usually family members - go; some say they have no choice but to pull out altogether. But contemplating their future is not the...
I REFER to yesterday's report, 'Redas chief on land supply, home prices', where Mr Simon Cheong, president of the Real Estate Developers Association of Singapore (Redas), said the Government's reserve price system may have been responsible for current high property prices. Does Mr Cheong guarantee that the developer who bids low for a site and is awarded it will sell low in today's current buoyant market,...
CITY Harvest Church (CHC) yesterday gave its first detailed comments about its $310 million stake in Suntec Singapore, two weeks after announcing that it had become a 'co-owner'. The statement, in response to The Straits Times' queries, said its shares in the downtown commercial property were not held by the church itself, but by a separate 'special-purpose investment holding company' it wholly...
A GROUP of 13 Singapore companies is banking on their green know-how to snare a share of China's lucrative and rapidly growing green buildings market. The firms are set to attend a key China exhibition to try and tap a green buildings market set to be worth $55 billion by 2012 and $200 billion by 2020. The Sixth International Conference on Intelligent, Green and Energy-Efficient Building & New...
Bullish sentiment has led to aggressive bidding by developers, not just for 99-year leasehold government sites for private condominium development but executive condos (EC) as well. This was most evident in the last two tenders of EC sites, which achieved record prices in terms of land bids. Earlier this month, a joint venture between Frasers Centrepoint Ltd and Lum Chang Building Contractors beat 10...