Singapore will continue to suspend the confirmed list of Government Land Sales (GLS) for another six months, given the poor property market conditions. The government had suspended the list for the first half of this year in October last year, placing all sale sites on the reserve list. The National Development Ministry said this will provide flexibility for the market to adjust supply according to the...

The Urban Redevelopment Authority (URA) has released the first sale site at Kallang Riverside for hotel development. The 0.74-hectares land parcel will be made available on the reserve list under the Government Land Sales Programme for the first half of 2009. URA said the plot has a permissible gross floor area of 20,917 square meters with a maximum building height of 16 storeys. The site will have a...

Nearly 75 per cent of flats on offer at a new Build-To-Order (BTO) project are two- and three-room flats. The Housing & Development Board (HDB) said the 700-unit development, Fernvale Crest at Sengkang, comprises 512 two- and three-room flats. HDB said this is the largest number and proportion of smaller flats offered for sale in a BTO project. The 140 units of two-room flats are priced at between...

Residents of The Grangeford condominium off Orchard Road continue to face eviction after their landlord illegal partitions in their units. They were given three days notice to clear out by the landlord, who'd known for at least a month that the partitions breached government rules. Tenants of The Grangeford were informed on Sunday that they had three days to move out. With the deadline looming, many are...

Holland Residences is a freehold property located along Taman Warna. It has a land area of approximately 6,855 sqm and is located within the vicinity of Holland Village. Prominent developments in the vicinity also include Holland Road Shopping Centre and The Mera Saga. Accessibilty to and from the subject property is enhanced by its proximity to the Ayer Rajah Expressway and Holland Road. The proposed...

Cheang Kok Kheong, chief operating officer of Frasers Centrepoint Homes, says he will be “camping out” at the Martin Place Residences showflat over the weekend tomorrow and on Sunday, the first weekend of the official launch of the high-end project. After two weekends of private previews, which saw a total of 150 units snapped up, Frasers Centrepoint Homes officially launched its high-end condominium,...

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...

Singapore-listed Pan Hong Property Group has posted a S$7.8 million loss for the financial year ended March. This reverses a S$39.2 million profit in the previous financial year. The China-based developer said the net loss was mainly due to a sharp drop in revenue as it sold fewer residential units during the financial year. Revenue for the period fell 93 per cent to S$8.4 million. Giving an update on...