CapitaLand, through its subsidiary CapitaValue Homes Limited, has acquired its second residential site in Pudong, Shanghai for RMB166.29 million (approximately S$33.26 million). The 36,920 sq m land parcel will be developed into some 700 value homes and offer 15,000 sq m of commercial space. Located in the town of Wanxiang in Lingang New City, the site was purchased through a government tender by...
real-estate
As Punggol moves into the next chapter of its development, it could potentially become Singapore's biggest housing town - twice that of Ang Mo Kio today - and feature the Republic's newest seafront public housing estate. National Development Minister Khaw Boon Wan on Tuesday outlined several new ideas characterising Punggol Phase II, which will cover developments over the next 15 years and...
Singles are buying fewer Housing and Development Board (HDB) resale flats in the recent four years. Between 2007 and 2011, singles bought an average of 4,300 units a year. That is down from a yearly average of 5,600 between 2002 and 2006. The figures came in a written parliamentary reply from the Ministry of National Development to questions from Member of Parliament for Pasir Ris-Punggol Group...
National Development Minister Khaw Boon Wan said home buyers are currently paying above the value assessed by professional valuers as it is "a seller's market". Mr Khaw was replying to a parliamentary query by Member of Parliament for Tampines Group Representation Constituency, Baey Yam Keng, on the increasing cash-over-valuation figures. Mr Khaw said the basis of valuation for all HDB flats are the...
National Development Minister Khaw Boon Wan said strong demand for residential property in Singapore is likely to persist, as interest rates stay low. In a question to the minister in Parliament on Monday, MP Foo Mee Har cited the case of a flat in Queenstown which was sold for S$1 million. Mr Khaw said from time to time, some buyers are prepared to pay way above market valuation but these are...
Demand for new private homes jumped by 84 percent in September from August, led mainly by a strong rebound in the mass market segment. According to the Urban Redevelopment Authority (URA), 2,621 new private homes, excluding executive condominiums, were sold in September. The 2,621 new units sold in September is the second highest amount since 2,772 units were sold in July 2009. Analysts see this as a...
The real estate investment sales market in Singapore surged 19.6 per cent in the third quarter from the previous three months, recording a total transaction value of almost S$9 billion, the highest quarterly total seen since the first quarter of last year, property consultancy Savills said yesterday. The residential segment recorded S$3.7 billion of transactions in the investment sales market, up 26.7 per...
Sales of new private homes have been brisk in the past year for projects in neighbourhoods like Pasir Ris and Punggol. And some industry players said the Hillview area, located in the western part of Singapore, could be the next up-and-coming spot with more projects lined up. The Hillier - a mixed development project at Hillview Avenue - is one of several new offerings in the area. It has seen strong...
A land site for hotel or mixed use development at Victoria Street/Jalan Sultan received nine bids at the close of tender on Thursday. Placing the top bid was Forward Land at S$331.37 million. Based on maximum gross floor area GFA of 30,977 square metres, the bid works out to S$10,696.19 per square metre of gross floor area. The top bid is also 9.1 per cent higher than the second bid which came from a...
Visible changes have been made over the last two years to improve the standard of real estate agencies, but more changes might be on the way, experts at a National Real Estate Congress said yesterday. The Council for Estate Agencies (CEA) was set up in October 2010 to enhance regulations for the industry, which has about 1,500 agencies and 32,000 licensed agents. The statutory board provides regulatory...