Banks in Singapore are benefiting from the sizzling property market. Not surprisingly, there has been an increase in the number of home loan applications. And with the outlook for the property sector remaining buoyant, market watchers say they expect interest rates to hold steady. Citibank, for example, is reporting an increase of more than 20% in loans growth. "We have seen a significant increase in...
The Indian government is seeking to attract foreign investment into its booming property sector. According to some estimates, investment in the sector can reach as much as US$300 billion, over the next five years. Ascendas, CapitaLand, Jurong Town Corporation and Sembawang Corporation are some of the big Singapore companies expanding rapidly in the red-hot Indian property market. According to members...
Construction costs for developers have been going up.According to some estimates, the jump was as much as 20% last year. Industry watchers say that is mainly because of the increased demand for building services from major new projects like the integrated resorts. Ku Swee Yong, Director of Savills Singapore, said: "There are several mega projects that Singapore is under-taking, in particular the two $5...
He may not have the money to buy an apartment yet, but 21-year-old Jasper Ong is already a beneficiary of Singapore's booming property market.Mr Ong, who is fresh out of National Service, and three of his friends are being paid $100 each every 24 hours to stay in the queue of people waiting to buy - or representing those who want to buy - The Seafront @ Meyer units at Meyer Road in District 15.The...
Rents and capital values of all industrial space in Singapore rose about five per cent in the first quarter from the previous three months.CB Richard Ellis says further increases are expected later in the year. The average monthly rents for warehouses improved by between 4 and 4.8 per cent during the three months to March. Rents were $1.30 per square foot for ground floor units and $1.10 per square foot...
More companies are taking up Grade A office space in Singapore.The vacancy of such office space dropped further to 0.4 percent the first quarter from 0.8 percent in the previous quarter. A report by CB Richard Ellis (CBRE) showed supply remaining extremely tight in the core central business district as well as in the fringe and decentralised areas. These areas saw vacancies of under five percent. The...
Sky-High prices at luxury launches such as Sky @ Eleven, One Shenton and One North Residences over the past three months have lifted the private property market to a quarterly gain of 4.6 per cent, according to flash estimates from the Urban Redevelopment Authority (URA).The property price index rose from 130.2 points in the previous quarter to 136.2 points in the first quarter of this year, the highest...
Keppel Land's latest waterfront home project - Reflections at Keppel Bay - is set to transform Singapore's west side into a premium waterfront living enclave. The property developer is seeing strong demand for the project, which is setting a new benchmark at an average price of S$1,900 per square foot. Tuesday was Day One of the soft launch, and already, transacted prices for units at Reflections at...
A new private hospital could be coming up in the Little India area. The Urban Redevelopment Authority (URA) has given the go-ahead for a reserve site above the Farrer Park MRT station to be developed into a hospital. The land parcel, spanning about 1.4 hectares, is located at the corner of Race Course and Rangoon Roads. Part of the site can house a 20-storey building. A minimum of 40 percent of the...
Location : Cluny Hill Type of development : Good-class Bungalows Tenure : Freehold No of bungalow plots : 16 Sales status : 100% sold Land Area : at least 15,000 sf a plot Location Cluny Hill is part of the Botanic Gardens good-class bungalow enclave. Nestled within the prime district 10 precinct, it enjoys ultimate tranquility and yet is close to the Orchard Road...