Commissions earned by real estate agencies have gone up sharply, by as much as 80 percent, according to one agency. Market watchers said that is not surprising, given the hike in property prices and number of transactions. As a result, the industry is also attracting more agents. Three days into the new year and real estate agency Propnex is already training 200 agents who have entered its fold. About...
United Overseas Land and its partner Peak Century have put in the top bid of S$236 million for a residential site at Simei Street 4. The price works out to about S$296 per square foot per plot ratio. The Urban Redevelopment Authority tender attracted three bids. The second highest bid of some S$231 million came from Frasers Centrepoint Properties. NTUC’s Choicehomes trailed in at third place with its...
And prices likely to rise further, albeit slower, say analysts A YEAR of feverish activities in the property market has pushed up the price indices for both private housing and HDB resale flats, as the latest official estimates confirmed what frustrated prospective buyers already know: Property prices are going through the roof. According to figures released by the Urban Redevelopment Authority (URA)...
Experts say recession unlikely; certain sectors will prop up economy ALTHOUGH the Singapore economy turned out a weaker-than- expected performance in the last three months of 2007, economists are not rushing to revise their GDP forecasts for this year even though they anticipate slower growth. The gross domestic product (GDP) for the fourth quarter slowed to 6 per cent from 9 per cent a quarter...
The second batch of condo-style public apartments will be launched on 5 January. The apartments at City View @ Boon Keng, which will be completed in 2011, promise the trappings of private residential homes. But they will not come cheap. The project is part of HDB’s Design, Built and Sell Scheme (DBSS), where private developers build and market the flats. City View@Boon Keng is the second DBSS project,...
A new S$30 million bridge to link Marina Bay and Keppel Island has been officially opened by President SR Nathan. It’s called the Keppel Bay Bridge and it forms part of the new waterfront living experience, in the Marina Bay area. The 250-metre bridge links Keppel Island with the mainland. But it’s more than just a bridge. The new link is adorned with special lights which can be programmed to...
CapitaCommercial Trust is preparing to spend up to S$1.5 billion to convert the Market Street Car Park into an office tower. Whether the project will go ahead or not depends on feasibility studies, but a major regulatory hurdle has been cleared. The URA has lifted restrictions for the site, which originally requires the land to be used mainly for car parks. CapitaCommercial, which owns the car park...
Mainboard-listed construction firm Chip Eng Seng is expanding its footprint in Vietnam with two residential projects in Ho Chi Minh City.The projects are expected to cost a total of S$180 million and will be undertaken with local partners. One is a condominium development comprising three 18-storey blocks, yielding a total of 780 units. This will be built on a 23,000 square metre site. Chip Eng Seng will...
A redevelopment site along Changi Road spanning 26,500 square feet is up for sale by tender.The site can be redeveloped into a hotel or commercial development with a plot ratio of 3, giving a maximum gross floor area of about 80,000 square feet. Civil engineering and property development firm Koh Brothers, which is selling the site, is asking for S$55 million. This excludes a development charge of S$12.5...
The famous Tekka Centre in Little India will be undergoing a major facelift, come March this year. The work is expected to take about 16 months. During the renovation, nearly half of the more than 500 tenants will be moving to temporary premises in Race Course Road. Rental for the entire period will cost between S$4,500 and S$12,000, depending on location and shop size. Tan Siat Hiang, a stall owner,...