Singapore’s third condominium-style public housing project, Park Central@AMK received over 2,300 applications at the end of a two-week sales period. That’s four times more than the total number of units available. The project will comprise 578 units of four and five-room flats, including 20 penthouse apartments. They cost an average S$500 per square foot. Its developer, United Engineers, said Park...

Market players said on Wednesday that the move to scrap guidelines on property agents’ fees by September 25 is unlikely to leave a deep impact on the real estate sector. But they warned against rogue agents who might try to cash in on the change in rules. The Competition Commission of Singapore (CCS) ruled on Tuesday that the fee guidelines adopted by the Institute of Estate Agents (IEA) should be...

REAL estate agents claim a new five-story condominium in Little India has been “100 per cent sold within two hours of balloting”. The brisk sales for Urban Lofts has caught property analysts offguard, especially coming during the Hungry Ghost month, when superstitious buyers are traditionally scared away. It was also surprising given the current economic uncertainty, when sentiments for high-end...

Rising inflation, shrinking exports and flagging economic growth have dampened business confidence across Asia and slowed prime office rent growth. CB Richard Ellis (CBRE) said on Tuesday, in its second quarter office market report for the Asia-Pacific region, that top financial and professional services firms have begun to slow their expansion in the region. Potential corporate occupiers have become...

If you’re shopping for a new home or selling one, you can now negotiate with your property agent on the appropriate commission. The Institute of Estate Agents (IEA) will remove its guidelines on property agents’ commissions next month, to fall in line with the Competition Act. Consumer watchdog CASE has welcomed the move, pointing out that it is not compulsory to have agents facilitate a property...

There are many superlatives attributed to Singapore and the city-state has been consistently ranked high for a number of reasons in reports from all over the world. Situated at the crossroads of international trade routes, Singapore is a top location for foreign investors, be they multinationals, part of Europe’s dynamic middle-market or technology start-ups. The on-going liberalisation of markets and...

Mass market take-up rate still good despite slowdown in luxury sector There are still signs of life in the mass housing market, despite signs that the luxury sector is flattening out, according to the head of Singapore’s biggest developer. “The outlook for Singapore residential prices will probably be very flat,” saidMr Liew Mun Leong, chief executive of CapitaLand. “The mass market take-up rate...

PropNex rolls out measures to win customers’ trust and confidence IF YOU discovered that the agent you had hired to sell your flat was also quietly acting for the buyer, you’d probably be hopping mad and looking for some kind of recourse. Unfortunately, there is nothing by way of laws over real estate practices that you can turn to. Property agencies like PropNex, however, are banking on...

The freehold property comprises a land area of 34,854 square feet and consists of a 5-storey block of super luxury residential units with attic and basement carparks. There will be 16 super luxury triplex units with ultra high end fittings and fixtures. Each unit spread over three stories, will have its own pool, private gardens and balconies, thus creating the sense of living in a landed property but...

It was caused not by a jump in demand, but by a contraction in supply LAST week, I suggested that the private housing oversupply may have been understated. This is because units that have been bought by investors can still be considered as part of the housing supply until they are resold or are tenanted. If the rental income cannot cover the mortgage payments and if the owners are highly geared, then...