Property consultancy CB Richard Ellis (CBRE) said on Thursday total investment sales in the real estate sector grew to a whopping S$4.87 billion in the first quarter this year. This was 18 times higher compared to the S$273.8 million in transacted value posted in the first quarter last year. In its latest report, CBRE said the brisk sale of government land sale (GLS) sites in the first quarter, which...
Market Reports
Private home sales kept up their momentum in March, with 1,761 units changing hands, according to figures from the Urban Redevelopment Authority (URA). This was up 47 per cent on-month and also the fourth highest monthly sales recorded since the start of URA's monthly series in June 2007. Analysts said demand for new homes remains strong, despite more government measures to cool the market in...
Its analysis of URA Realis caveats shows that 29 deals are sealed At least $500 million worth of Good Class Bungalows (GCBs) have changed hands in the first three months of this year, according to CB Richard Ellis. The property consultancy's analysis of URA Realis caveats shows that 29 deals were sealed in Q1 for a total of $470.33 million. In addition, CBRE director (luxury homes) Douglas Wong...
More new housing units will be added to the market to give buyers more choices. The Housing and Development Board (HDB) will put on sale on Wednesday two residential sites in Sembawang and Sengkang. It also put two other sites in Punggol and Yishun on the reserve list for public tender early next month. They are expected to yield about 1,970 dwelling units. About 60 per cent or about 1,215 are Executive...
THE sizzling property market is prompting even the developers themselves to snap up units in their new projects, especially high-end properties. Singapore Exchange filings show that at least four listed developers have sold units in their residential developments to relatives or 'interested parties'. An interested party can be a director, a chief executive, a controlling shareholder or one of their...
Real estate agents say executive condominiums (ECs) have become more popular. They are the next best thing for those who are priced out of the private condominium market, where prices have been hitting new highs recently. Property agents said that in the last two to three years, the price of each square foot has increased by about 70 per cent. In the first quarter of this year, the resale value of each...
DBS CEO Piyush Gupta said property bubbles are forming in some key Asian cities which may lead to a market correction. He also said concerns over asset bubbles may lead to more Asian governments raising interest rates soon. Mr Gupta was speaking at an event organised by the American Chamber of Commerce in Singapore on Monday. Property prices have been rising across Asia. In Hong Kong, property prices...
The government launched eight residential sites - which can yield an estimated 3,340 private and executive condominium homes - in Q1 2010, as developers clamoured for plots to replenish shrinking landbanks and buyers continued to snap up new homes. Five of the sites - on which some 2,175 housing units can be built - have been sold to date. The tenders for the remaining three sites will close in the next...
In the secondary market, the soon-to-be-completed One Amber along Amber Gardens is seeing interest from buyers. The 562-unit freehold condominium project jointly developed by Singapore Land, UIC and UOL Group has four 23-storey blocks. In the week of March 9 to 15, four units at One Amber changed hands at prices between $1,163 and $1,250 psf, according to caveats lodged with URA Realis. Those who bought...
UOL Group has sold about 40 per cent of its 616-unit Waterbank at Dakota condo by yesterday. By some analysts' calculations, UOL stands to book pretax earnings of $135 million to $160 million progressively from the project as it is built once it is fully sold. Prices of typical units range from 'above $1,000 psf to above $1,300 psf'. Buyers were predominantly Singaporeans. Smaller units were first to...