Singaporean buyers of luxury homes so far this year have surpassed the total number of similar transactions recorded for the entire 2011, according to The Business Times. A report by DTZ revealed that 46 luxury homes were acquired by Singaporeans year-to-date, exceeding only 40 units last year. The growth was mainly credited to robust numbers in Q2, wherein 31 high-end homes were sold to Singaporeans,...
economy
The overall property price index grew 0.4 percent in Q2 2012 following a 0.1 percent decline in Q1, according to data from the Urban Redevelopment Authority (URA). This was mainly attributed to strong recovery of completed non-landed property prices, which was up 2.3 percent. However, prices of uncompleted non-landed homes slipped 0.9 percent in Q2, indicating a moderation of current high prices as the...
Singapore could introduce a new round of property measures to curb home prices following the US government’s third round of quantitative easing (QE3) that is expected to drive a fresh wave of capital into the city-state, according to The Business Times. The decision by the Federal Reserve to inject US$40 billion into the US economy each month until sustained job growth is achieved may be seen as good...
Green Lodge at Toh Tuck Road has been sold for S$191.888 million, becoming the biggest en bloc sale so far this year, according to The Business Times. Located off Jalan Jurong Kechil in Upper Bukit Timah, the property has a land area of 151,075 sq ft and could be developed into a five-storey condominium under the 2008 Master Plan. With a plot ratio of 1.4, the purchase price translates to S$907 psf...
Demand for new private homes fell in August after recording a strong rebound in July. According to data released by the Urban Redevelopment Authority (URA), 1,421 units of new homes were sold in August, excluding Executive Condominiums (ECs). This was a 27 per cent drop from July's sales. The best seller for August was One Dusun Residences in Balestier. Buyers snapped up 153 units of the 154 units...
A majority of Singaporeans responding to a poll in July said that they are looking to purchase residential property within the next six to 12 months, despite the uncertain economic environment and high prices. The latest Asia Property Market Sentiment Report, conducted by the iProperty Group, surveyed 25,754 people from Singapore, Malaysia, Indonesia and Hong Kong, of which 2,983 were from the...
Strata commercial property such as shops and offices have been extremely popular in the primary market this year and are expected to sustain buyer interest, even in the sub-sale market, as attention is increasingly diverted away from residential and industrial segments. Since the introduction of the seller's stamp duty for private residential purchases in January last year, investors have flocked into...
Hotel and serviced residence owner Far East Hospitality Trust aims to tap South-east Asia's booming tourism demand and grow its portfolio value by 50 per cent over the next two years. Far East Hospitality expects to acquire a hotel and two serviced residences - Orchard Parksuites and Orchard Scotts Residences - from its sponsor Far East Organisation within the next 24 months, increasing its portfolio by...
With business costs have generally increasing, Singapore is no longer a low-cost business location as the government recognised. Trade and Industry Minister Lim Hng Kiang said this in a written reply to MP for Ang Mo Kio GRC, Inderjit Singh. Mr Singh asked if Mr Lim could provide data on the changes in labour and rental costs, and whether the increasing costs would make it difficult for Small and...
A freehold residential development, Chateau Eliza, at Mount Elizabeth has been sold en bloc for S$92.2 million. It was sold to a consortium of private investors, Newfort Realty, and was the development's third tender attempt. This is also the 20th successful collective sale deal concluded in Singapore this year. With the sale, each apartment owner stands to receive gross sales proceeds of between S$2.08...