Germany's SEB Group has bought 12 strata-title floors of the office building Anson 79. It is paying S$215 million to Farrell Asset Management for some 10,300 square metres of Grade A office space. SEB already owns another nearby Grade A office building Springleaf Tower. Anson 79 is a 23-storey building in Shenton Way and is within walking distance of Tanjong Pagar MRT station. It has an occupancy of...
Property Investment
“A growing number of people in the real estate market are looking to buy a condo rather than to purchase a home or to rent an apartment. But, why are condos so hot in the real estate world? Here are the top five reasons why so many are looking to buy condos rather than other forms of real estate. Reason #1: Condos Do Not Require Upkeep One of the biggest reasons that so many people are looking to buy a...
More investors pump money into office property as reselling them could reap huge gainsIT WAS probably the most profitable “flip” in the property market. In a deal announced last week, GE Real Estate made a whopping 73 per cent profit on its initial $75-million investment, when it sold Anson House for $129.5 million, a year after purchasing it. The 13-storey building, located at Anson Road, is now...
Historically individuals have purchased property in their country of domicile commonly as a principle residence. In some cases, an additional residence may have been bought for use as a holiday home. Property today however has developed into a truly global market as investors identify opportunities ever further afield and the idea of buying in foreign countries has become more widely accepted. Arguments...
The strong capital growth trend in the Singapore luxury residential property market will be powerful motivation for a new generation of non-institutional Middle Eastern investors to increase their stake in Singapore, revealed the developers of the Marina Bay Financial Centre (MBFC) at the recent Cityscape Dubai exhibition. Non-landed property values in the core central area appreciated by 23.3% in the...
A new fund has been jointly set up by Pacific Star Group and HSH Real Estate – which is the real estate unit of HSH Nordbank – to invest in prime properties in Asia. It has a target fund size of 500 million euros (S$1 billion). The fund will initially target established markets, which include Singapore, Japan and South Korea. It may also tap emerging markets like China and India eventually. HSH Real...
Investors have spent $21.4 billion on property for the first half of this year. And the momentum is set to continue, breaking the record $30.51 billion set last year, said real estate firm CB Richard Ellis. These total investment sales figures for properties above $5 million are already 48 per cent higher than the value that was achieved for the same period last year. “At this halfway point, there is...
Hoping to ride the current property wave, developer Novelty Group will soon launch a River Valley project that is asking for around double the prices in the area. Named Luma, the 75-unit freehold development will be priced at above $2,500 per square foot (psf) when launched next month, said Novelty’s chief operating officer Manoj Kalwani. That would surpass the nearby 2RVG, which sold for about $1,100...
The price tag on luxury residences is expected to hit a new high as a site for Singapore’s only beachfront condominium is launched at Sentosa Cove today. The site, Beachfront Collection, is perched on Sentosa Cove’s southern-most corner, offering an unblocked view of the Southern Islands and Tanjong Golf Course. A four-storey condominium offering up to a maximum of 88 luxury apartments is expected to...
A sky villa and two penthouses of the luxury Leonie Parc View condominium will go under the hammer on June 8 in a by-invitation-only auction conducted by Colliers International and Christies’ Great Estates exclusive affiliate Ken Jacobs. The freehold, 29-storey property is developed by Soilbuild Group Holdings and consists of one sky villa, three penthouses, and 40 four-bedroom apartments. There is...