Two weeks ago, a front page news report in a business daily blasted the commonly held notion that Singapore's private housing market is red hot, at least where developer sales are concerned. The report - drawing on a study by Savills - said that compared to 2007, the market actually underperformed last year, even as home sales in terms of total units sold were higher. It said the market would most...
real-estate
Raffles Quay Asset Management (RQAM) on Thursday said it has achieved a commitment level of over 70 per cent for its Marina Bay Financial Centre (MBFC) Tower 3. In a statement, RQAM added that it has signed on new tenants, including Mead Johnson, Berge Bulk, Clifford Capital and Clyde & Co. These new tenants, from industries such as shipping, financial investment, legal, and paediatric nutrition will...
eCO – a new development located along the raintree-lined Bedok South Avenue 3 and nestled within an established private residential estate offers five residential lifestyles – SOHO, Suite, Loft, Condominium and Townhouse, all within one gated community. Community in a Garden eCO is conceived “in harmony with nature” where garden spaces are tastefully landscaped to create a realm of tranquillity and...
Kovan Lodge, a freehold residential site at Kovan Road is up for sale by tender, according to marketing agent Mount Everest Properties. Sited on a 27,090 sq ft plot, Kovan Lodge could be redeveloped into a larger residential development, subject to approval by the relevant authorities. If approval is granted to acquire an adjoining 505 sq ft state land parcel, the development could have a built up of...
Shan Gate Apartments along Shan Road is up for collective sale, according to marketing agent Remax. It said that sellers expect bids to range between S$51.5 million and S$53.5 million, reflecting land rates of S$1,010 to S$1,049 psf ppr based on a gross plot ratio of 2.8 and excluding balcony allowance. If balcony space is included, the price works out at S$918 to S$953 psf ppr. Each unit owner could...
Demand for private residential properties in Singapore rebounded in July, according to data released by the Urban Redevelopment Authority (URA). Figures showed that excluding Executive Condominiums (ECs), sales of private properties rose to 1,943 units last month, up nearly 42 per cent from June. Three out of the top four best selling projects were located in the suburban areas. They were Parc Centros...
Longer mortgage tenures could have adverse implications for the property market, borrowers and banks if it becomes more widespread. Deputy Prime Minister Tharman Shanmugaratnam gave the assessment in a written reply to Parliament on Monday. He added that the government will continue to closely monitor the property market. Stretching a home loan out over 50 years does translate to a lower monthly...
Singapore office rents are extending their slide as global economic uncertainty forces landlords to drop prices. Colliers International said the average monthly gross rents for central business district (CBD) Grade A space fell by 1.1 per cent quarter-on-quarter to S$8.45 per square foot in the three months ended June 2012. This follows a 4.3 per cent on-quarter drop in Q1. The price decline appears to...
Property developer Ho Bee on Tuesday said second-quarter net profit surged 44.6 per cent from the corresponding period a year earlier to S$72.9 million as revenue rose 6.7 per cent to S$147.1 million. The rise in profit was due mainly to the increase in turnover and a gain of S$17.9 million in the sale of investment property, it said. Ho Bee chairman and chief executive Chua Thian Poh said that the...
Singapore's City Developments is confident China's residential property market won't crash. And it's waiting for opportunities for hotels to get cheaper for acquisitions. City Developments is planning to launch its first residential development in Chongqing in southwest China next year, should the property market improve. Its confidence in the market is underpinned by a trust that authorities will act to...