The record $36 million deal for a Sentosa Cove bungalow in April this year seems to have fizzled out, with the buyer forfeiting a cool $500,000 deposit and more. Lianhe Zaobao reported yesterday that the buyer of the 14,983 sq ft, 99-year leasehold site on Paradise Island recently backed out of the deal. He may have cold feet after learning from the widespread coverage of the deal at the time that his...
Luxury Property
More top-end condominiums in the core central region (CCR) have been changing hands - at higher prices - with each passing month. Yet, deals above $4,000 psf are still rare. Analysts say that this shows the luxury segment still has room for capital appreciation. November saw only one such transaction - a Scotts Square unit which sold for $4,358 psf, according to the Urban Redevelopment Authority (URA). In...
Good Class Bungalow (GCB) deals in Singapore hit $1.85 billion year-to-date, an increase of 7.3 percent from the $1.72 billion deals recorded last year, according to CB Richard Ellis. Also, at least $100 million worth of GCB deals are expected to be exercised before the year ends. The $1.85 billion worth of GCB deals so far this year includes 101 transactions, slightly lower that the 109 GCBs sold in...
Prices of luxury condos have continued to rise this year but a new rule may soon tie the hands of the developers. Currently many developers have picked their time to launch developments when sentiments are good and decent prices can be charged. But under the rule changes which are expected to come in early next year, they may lose this choice. If they exceed the project completion period on sites bought...
Despite the numerous Government policies to cool the property market in Singapore, the high-end residential segment has not been adversely affected. To begin with, the Government measures implemented thus far are targeted at the mass market, which has seen property values rising ahead of economic recovery. Based on Jones Lang LaSalle estimates, the average resale capital value for areas outside the prime...
It’s easy to understand why The Sail is the most actively traded project in the prime Marina Bay area. When the 63-storey Tower Two of the 1,111-unit project was first launched in 2004, units were priced at $900 to $1,000 psf, while the first batch of 100 units released at the 70-storey Tower One a year later averaged $1,080 psf. Today, on the secondary market, owners of units with pool views are asking...
SC Global has announced the upcoming opening of commercial space for its residential development, Martin Number 38. Three lifestyle brands will open at Martin Number 38. These are: The Mill, a hip boutique gymnasium by Fitness Factory, and two awarding-winning restaurants, Graze and Kha. The luxury residences developer added that the restaurants will feature chic and casual all-day dining. The cuisine of...
Many luxury condominium units in Singapore are still vacant even after completion, as the luxury home market remains quiet in the previous years. According to new data released by property consultancy firm CB Richard Ellis (CBRE), 12 condo projects have been completed this year, each with over 10 units yet to find a buyer as of last month. Out of the 12 projects, 10 are located in the prime areas, with a...
D'Leedon is a short walk to the upcoming Farrer Road MRT station. Nearby recreational facilities includes the Singapore Botanic Garden and Bougainvillea Park. Residents can get their necessities at the Empress Road Market and Food Centre or at the shopping centres close by. There is a string of shops, restaurants, and eating establishments at Holland Village, which is in close proximity. Getting to the...
THE much-anticipated project (D'Leedon) to be built on the former Farrer Court site is expected to be previewed later this month after almost two years of delay. The 99-year leasehold project, consisting of seven 36-storey towers and located on a 838,488 sq ft site, will include one- to four-bedroom apartments, penthouses and 12 strata villas. The expected average price across the project will be in the...