Scotts Square, a 338-unit freehold highend condominium development in the prime Orchard Road-Scotts Road neighbourhood, is back on investors’ radar screens, as it scheduled to obtain the temporary occupation permit towards the latter part of this year. Scotts Square, by listed luxury developer Wheelock Properties, comprises two residential towers of 43 storeys and 32 storeys each atop a three-storey...
Market Reports
China's home prices will decline later this year, with sales volume already falling following purchase restrictions by local governments, said Mr Li Daokui, an adviser to the People's Bank of China (PBOC), the country's central bank. A 5- to 10-per-cent drop in home prices will be a "significant achievement", he said in Beijing yesterday. Cities such as Chengdu in south-western Sichuan province should be...
A Good Class Bungalow (GCB) at Cluny Road has fetched a record land price per unit of S$33 million (approximately S$2,038 psf) on a freehold land area of approximately 16,200 sq ft. This amount surpasses the previous record of S$1,899 psf on land area that Chew Hua Seng, Chairman and Founder of Raffles Education, paid for 32H Nassim Road in 2007. The latest transaction was handled by Singapore Home...
Singapore and Hong Kong have topped the global house price index, as home values in both countries recorded the highest increase. Based on The Economist’s latest quarterly global house price index, home prices in Hong Kong climbed 20.1 percent in Q4 2010, while house prices in Singapore rose 17.6 percent. Home values increased 6.4 percent in China, 5.8 percent in Australia and dropped 3.6 percent in...
There was a lull during the Chinese New Year festivities, and some developers decided to close their show flats during the holiday. Yet, in the secondary market, the 16-yearold Chiltern Park condominium on Serangoon Avenue 3 saw brisk sales towards end-January and early February. Located just a five-minute walk from the Lorong Chuan MRT station, the 500-unit Chiltern Park saw interest pick up pace last...
There was a record number of mainland Chinese home buyers in the last quarter of 2010, according to data from the Urban Redevelopment Authority (URA). With more drastic cooling measures implemented by the Chinese government, analysts say more Chinese will put their money in Singapore property. SINGAPORE: Mainland Chinese buyers are now the second largest group of foreigners who buy homes in Singapore,...
There could be a decline in home prices and rents after the release of a large supply of new homes in the market in 2013 and 2014, warn analysts. According to recent Urban Redevelopment Authority (URA) data, about 17,111 new homes are expected to be completed in 2013 and 17,421 in 2014, including homes under construction or already with planning approvals. “These figures are considerably more than the...
Despite round after round of cooling measures in 2010 and 2011, many investors remain eager to park their funds in residential properties. The tightening measures have merely relegated a fraction of the investors to the sidelines and, while they watch the market closely, others continue to invest. Why are investors so attracted to residential property investments? Low interest rate environment Savings...
Prices of Singapore's luxury prime homes remained stable for the second straight quarter as buyers stayed cautious after recent government tightening measures, according to Jones Lang LaSalle. Overall, the Singapore mass residential market saw a 12 per cent increase in prices in 2010 driven by positive sentiment on the back of strong economic performance. However the high-end market has been more subdued...
Non-landed private home prices galloped in January, despite the stringent measures announced by the Government to cool the exuberance in the property market. Flash estimates released by the National University of Singapore Institute of Real Estate Studies showed that the overall Singapore Residential Price Index rose 2.6 per cent month-on-month. That is more than double the 1-per-cent increase in the...