As tender bids heat up here, many small-sized property developers are seeing themselves priced out by big players and foreign firms. This has made it more difficult for these smaller developers to get their hands on land for development - a situation that could put their businesses at risk, and things do not improve. Bid prices and the number of bidders escalated to record highs in the latest tender...
Market Reports
Since October last year, transaction prices of apartments at the 646-unit Icon near the Tanjong Pagar MRT station have increasingly crossed the $1,700 psf level. Most recently, one unit went for $1,828 psf. Last October, a unit breached the $2,000 psf level for the first time since June 2008 — in that transaction, a 1,001 sq ft unit on the 44th floor changed hands for $2.2 million, or $2,206 psf. The...
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...
Real estate agents said more owners are looking to cash in on their homes near the Circle Line train network, even as the property market powers on. They said there has been a 10 to 20 per cent rise in interest in selling those properties since the 11 new Circle Line stations opened on April 17. The Circle Line network moves over 200,000 commuters a day. Market watchers said it's also moving properties...
The buzz of excitement at the Marina Bay area with the opening of the US$5.5 billion ($7.5 billion) Marina Bay Sands integrated resort (IR) on April 27 is resulting in a pick-up in sales activity at the neighbouring Marina Bay Residences. The 55-storey, 428-unit upscale condominium tower is expected to be completed soon. Prices at the 99-year leasehold high-end condo are fast approaching 2007 peak levels....
Prices of non-landed private homes outside Singapore's prime districts are now growing at a faster rate than prices in the prime districts, according to a new index compiled by the National University of Singapore (NUS). Flash estimates for March released yesterday show that 'non-central' home prices climbed 1.2 per cent last month, taking the first-quarter rise to 4.4 per cent. In contrast, prices in...
THE opening of new MRT stations has pushed up property prices across the island and made it hard for developers to find land at viable prices. Wing Tai Asia property director Chng Chee Beow told a discussion yesterday: 'The transportation networking makes things much closer and that brings up property prices. 'The biggest headache facing developers now is this: How can you find land with a reasonable...
With first-quarter home sales rocketing to a higher-than-expected 4,446 units, property experts say that the strong sales momentum will probably spill over into the second quarter as developers plan more sizeable launches. In fact, at least 12 developments have been identified by property consultants as possible launches this quarter. These include Far East Organization's 361-unit Waterfront Gold at...
The Mountbatten area has seen transactions of landed homes pick up pace in recent months, with a couple of bungalows on Branksome Road, Wilkinson Road and, most recently, Ramsgate Road changing hands at prices above $1,000 psf since the start of the year. Bungalows in the Mountbatten area are very much sought after,” says William Wong, managing director of RealStar Premier Property, who specialises in...
Prices of Singapore's private homes market defied recent property cooling measures and continued their upward climb in the first quarter of this year, even though the rate of growth has moderated slightly. Statistics released by the Urban Redevelopment Authority (URA) on Friday show private residential properties prices rising to 175 points for the first quarter of this year, around 5.6 per cent higher...