Property agents receiving more enquiries about units at the Cove BUYING and selling activity is returning to Sentosa’s home market, the district billed as a premier waterfront living dream, after suffering lacklustre demand during the shock of the global financial meltdown late last year. The hard-hit months of October and November saw zero caveats lodged, according to data on the Urban Redevelopment...
Market Reports
WITH sentiment in the mid- to mass-property market improving, the focus is now shifting to mid- and high-end projects, said Merrill Lynch in a report. Developers, riding on the renewed interest, “will be looking to move up the market and start launching their mid- to high-end projects which have been previously held off”, the report said. For the potential upcoming launches, Merrill estimated that...
As market sentiment picks up, not only has the number of transactions increased, but prices have also firmed up across the board. The clearest evidence of this is at Marina Bay, where apartments have seen a spike in the number of transactions in the secondary market. At the 1,111-unit The Sail, which was completed in 4Q 2008, the most recent transaction was a 50th floor, 2,174 sq ft apartment that changed...
High-end private homes have seen renewed interest among buyers recently and the trend looks set to continue. Developer Frasers Centrepoint said 15 out of 40 units launched on Friday at its Martin Place Residences have been sold. Frasers said it has lowered prices by about 20 per cent to between S$1,350 and S$1,600 per square foot. It said the homes sold were a mix of studios, two- to four-room units and...
City Developments (CDL) and CapitaLand have fully sold their joint venture Botannia condominium project, located near West Coast Park. The majority of the 493-unit development with a 956-year leasehold was bought by Singaporeans. Foreigners purchased about a quarter of the units. In a statement, CDL said the strong sales is a clear indication that homeowners and investors have become more upbeat,...
The rental cost for industrial properties in Singapore could come down by as much as 30 per cent this year. Property consultants said this is due to a drop in demand as companies scale back their space as well as increased supply. A slump in demand for Singapore's exports has led to factories running at excess capacity and this has prompted companies to either put expansion plans on hold, or even scale...
Global real estate investors are looking to tap on to growing opportunities in Asian markets. Experts speaking at an industry event, Cityscape Asia 2009, in Singapore on Tuesday said China currently offers the most potential. This is due to a number of good valuations available in the market, and the economy's positive growth outlook. China's industrial property sector has been hit hard by the global...
Singapore's property market is among the worst-performing in Asia for the first quarter of this year. A report by property consultant CB Richard Ellis (CBRE) found that Singapore's prime office rents recorded the region's worst contraction. Compared with the first quarter of 2008, prime office rents in Singapore fell by 34 per cent, followed by Hong Kong which was down by 32 per cent. In terms of retail...
Brokerage DBS Vickers said the Singapore private property market could pick up this year. In a research report, the firm said the prices of mass market private homes are likely to rise by the second half of this year if demand continues to hold. Mid-tier private residential homes, meanwhile, could see price stability towards the later part of the year. However, DBS Vickers added that the high-end...
Real estate consultancy firm Colliers International says the industrial properties market has been hit by the global financial crisis. Its latest bi-annual survey found that rents, land and capital values of industrial properties in most cities across the Asia Pacific, except for Jakarta, contracted by up to 40 per cent. The study of 13 key cities in the region was conducted between October 2008 and...