MR SIMON Cheong, president of the Real Estate Developers' Association of Singapore (Redas), raised government hackles this week when he questioned the need for government intervention to halt the rise of private home prices. He had asked if the state should be so concerned with the prices of private home prices, when the segment serves only 16.5 per cent of the population. The Government recently...
Market Reports
THE 76 Shenton condominium in the Central Business District sold out in one day during its preview as hundreds of buyers made a beeline for the prime project yesterday. There were so many people vying for one of the 202 units that balloting was needed to sort out who got first crack. The Straits Times understands that there were about 300 names in the ballot, with the buyers mostly Singaporean investors...
RESALE prices for private homes have gone through the roof this year and are now above the sky-high levels seen in the 2007 boom. A Savills Singapore report said average values in the segment in January and last month shot ahead of the dizzy heights set three years ago. The soaring prices are part of a larger picture that depicts the entire real estate sector roaring along in top gear. Rising prices in...
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...
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,...
Those looking to buy into high-end living will have more options, with the launch of "The Residences at W Singapore" at Sentosa Cove this weekend. With luxury homes touted to be star performers of 2010, market watchers expect developers to roll out more of them in coming months. This could run down their land bank and drive up collective sales later in the year. The launch of "The Residences at W...
Developer Hong Leong Holdings has fully sold its new downtown mixed development, 76 Shenton, which was launched on Thursday. The 39-storey development, at the corner of Shenton Way and Palmer Road has 202 residential units of one and two bedrooms as well as commercial space which will include restaurants-cum-retail units. Hong Leong said the one-bedroom units were priced between S$1,600 and S$2,600 per...
The Ministry of National Development (MND) has defended its Reserve Price system for state land tenders, and disagrees that it has constrained market forces in Singapore. It issued a statement to rebut what the Real Estate Developers' Association of Singapore (REDAS) President, Simon Cheong had said on Wednesday. Cheong cited two sites, Tampines and Ten Mile Junction, saying they were released for sale...
New, monthly price index will also help in development of property derivatives Singapore now has a second price index to provide information on the state of the private housing market here. The new Singapore Residential Price Index, or SRPI, aims to provide a resource for the development of property derivatives. It tracks month-on-month price movements in the private non-landed residential property...