The Urban Redevelopment Authority has approved 10 applications from shop-house owners to use their upper floors as offices and commercial schools. This follows the relaxation of rules to allow the premises to be used as offices and commercial schools. Property analysts said the take-up rate is encouraging. The use of shop-houses as business space is becoming popular, but the number of such units has not...
real-estate
Sydney is Australia's most populous city and its housing sector offers investors unique opportunities with the security that comes with investing in a large and rapidly expanding market. Property prices in Sydney have increased 25 per cent in the last four years, during which many other housing markets around the world have stagnated or even gone backwards. The reason that Sydney's housing prices have...
En-bloc property sales have lost its shine so far this year. A total of nine en-bloc properties have been successfully transacted this year to date. This compares to 29 transactions in the same period last year. Although developers have turned cautious as cooling measures and requirements to build and sell out all the new units in five years start to bite, experts said interest in mixed-use en-bloc...
Real estate investment trusts (REITs) have outperformed the market despite the volatility in the first half of the year. They are also known for their relative resilience amid economic downturns. And industrial REITs appear to hold up better than the rest with total returns of 18 per cent in the first quarter. REITs have outperformed other assets like equities since the start of the year. The benchmark...
Property developer Far East Organization sold 2,200 new homes in Singapore during the first five months of the year. This includes suburban projects such as The Hillier in the northwest and Watertown in the northeast. According to a media report, projects by Far East helped lead the rebound in home sales this year, with Watertown in Punggol accounting for over 50 percent of the 1,872 units sold in...
National Development Minister Khaw Boon Wan has described the application rate for the May BTO as "quite encouraging". He said in his blog on Tuesday evening that as at 5 pm, the overall application rate is 2.5. He said based on the responses in the recent Build-to-Order (BTO) launches, first-timers are enjoying a high chance of getting their first homes while chances for second-timers have improved...
The Urban Redevelopment Authority (URA) closed the tender for the residential site at Pasir Ris Drive 3 today. The site at Pasir Ris Drive 3 was launched for sale by public tender on 16 April 2012. The site was offered for sale on a 99-year lease. The site area is of 22,317 m2 and the maximum permissible GFA is of 46,867 m2. A total of 5 bids were presented. The highest tenderer is Capital Development...
Housing supply will likely hold firm in the second half of this year as developers continue to be active in the Government Land Sales (GLS) Programme. According to Chia Siew Chuin, Director of Research & Advisory at Colliers International, an additional 28 to 30 new residential sites will likely be added to the confirmed and reserve lists, which could yield up to 14,000 homes. “The government...
Hong Kong's property market faces great corrective pressure amid threats from the euro zone crisis and macroeconomic volatility, causing uncertainty for home buyers, Financial Secretary John Tsang said on Monday. Mainland China has seen the world's fastest-growing prices over the last five years, up 111 per cent through the end of last year, with Hong Kong in second place at 94 per cent, according to...
Sophia Mansions, a freehold development located along Adis Road (District 9), has been launched for sale by tender. The 19-unit, 20-year-old residential development sits on a freehold site with a The land area is approximately 17,545 square feet (sq ft). The marketing agent, Credo Real Estate said the owners are expecting offers in the region of S$42.5 million to S$45 million. This works out to land...