The Urban Redevelopment Authority (URA) has awarded the tender for the hotel site at Jurong Town Hall Road to Tamerton Pte. Ltd. The firm submitted the highest bid of S$238.2 million, which translates to S$12,565.28 per square metre of gross floor area. Tender for the hotel site was launched on 19 September 2012 and closed on 20 November 2012. The land parcel was offered for sale on a 99-year lease term....
real-estate
It has been a pulsating year for Singapore's private housing sector, with homebuyers' aspirations remaining firm even as prices and volumes defy conventional market cycles to hit record highs, but there are signs that the market is now heading towards equilibrium. In today's market, speculation no longer drives the property buyer following the implementation of sellers' stamp duty in January last year for...
Despite its name, there is nothing small about the Minor Group, which plans to attract Singaporeans to invest in Thailand's luxury property sector as well as expand its presence in Singapore. With gross revenues of over S$1 billion, Minor is one of Thailand's largest hotels and resorts operators with over 70 properties, and also one of the country's largest fast-food operators, with over 1,200 outlets...
Buyers of 60-year leasehold properties might find it a challenge to apply for loans. While some banks are willing to lend, potential buyers may have to borrow less or pay off these loans faster. But analysts said banks may have to re-think their home loan strategy as more of such sites make their way into the market. The land at Jalan Jurong Kechil, which closed tender on November 15, will be the first...
The tender for a hotel site at Jurong Town Hall Road has attracted 11 bids. According to the Urban Redevelopment Authority (URA), the top bid was submitted by Tamerton Pte Ltd, a subsidiary of Genting Singapore. The firm had put in a bid of S$238.2 million, which translates to S$12,565.28 per square metre of gross floor area. The other ten bids lodged range from S$204.8 million to S$128.7...
Foreign buyers of Singapore properties accounted for 7 percent of the market in the third quarter this year. The proportion had remained unchanged from the previous second quarter. However, for the first three quarters of the year, foreign purchases averaged about 6 percent. This is according to the latest report on demand for Singapore's residential properties in Q3 by property consultant DTZ. The...
Luxury properties continue to see high demand in South East Asia. With global markets being flushed with cash, experts say more are looking at investing in high-end properties that's worth more than US$5 million. New luxury homes now come with an added touch of class and developers are introducing even more innovative features in such properties. Costing an average of about S$3,500(US$2,800) per square...
The latest restrictions on home loan tenures will likely boost demand for lower-priced non-landed private homes, or those under S$1.5 million, according to a report by Knight Frank. The cooling measures are expected to impact affordability. For instance, a 35-year old home buyer with a S$12,000 monthly income can now afford a home priced as much as S$1.5 million to S$1.6 million on a 30-year loan,...
Earlier this month, the Singapore Democratic Party released a housing policy paper proposing a new class of flats that it envisaged could be priced significantly lower than new Build-To-Order (BTO) flats offered by the Housing and Development Board (HDB). This is because these "non-open market" (NOM) flats would be priced only to recover the cost of administration and construction, and not the cost of...
The Urban Redevelopment Authority (URA) received 23 bids at the close of tender for the residential site at Jalan Jurong Kechil on Thursday. Property consultants said this is the highest number of bids received since the 32 bids submitted in the tender for the Westwood Avenue residential site that closed in December 2009. World Class Developments (North) Pte Ltd - a subsidiary of SGX-listed firm Aspial...