The freehold 72-unit Flynn Park, off Pasir Panjang Road, has a minimum price of S$363.8 million. Following the July cooling measures, owners have been collecting signatures to get an 80 per cent mandate to lower the reserve price to S$325 million; they are at 75 per cent now. After factoring in an estimated development charge of about S$24.5 million, the original reserve price translates to S$1,331...
Private home prices may have risen by close to 8 per cent last year according to flash estimates from the Urban Redevelopment Authority (URA), but analysts say that this increase will not be sustained in 2019. Private home prices in Singapore rose 7.9 per cent in 2018, said the URA on Wednesday (Jan 2), a 6.8 percentage point increase from the year before. However, the growth appeared to have slowed...
Prices of completed private apartments and condominiums in Singapore fell again by 0.4 per cent in November from the previous month, after a 0.6 per cent month-on-month decline in October. This is according to the National University of Singapore's (NUS) flash estimates released on Friday for its Singapore Residential Price Index (SRPI), which tracks prices of completed non-landed private homes. The...
Sales of private homes by developers in Singapore surged 52 per cent in November from a year earlier after asharp increase in the number of new projects launched, official data showed on Monday (Dec 17). The robust sales come - which follow government measures in July to cool the property market - at a time of the year when demand usually begins to wind down due to the start of the year-end holidays, an...
More than 30 collective sales sites have failed to find successful bidders at the close of tender, following the latest round of cooling measures introduced in July. In a bid to entice developers, around 15 en bloc projects have sought to lower their asking prices, according to Huttons Asia. One of them is Park View Mansions in Jurong, which relaunched its tender for a second time on Wednesday (Dec...
The government cannot take a hands-off approach to the property cycle and allow bubbles to develop, said National Development Minister Lawrence Wong as he explained the rationale behind July's cooling measures at the anniversary dinner of the developers’ body on Thursday. He also reasoned that had the authorities not intervened, private home prices this year are very likely to have exceeded a 10 per...
A 3.8 hectare white site at Pasir Ris Central saw three bids from developers at the close of the tender on Friday. Among the bidders was Far East Organization, while Singapore Press Holdings and Kajima Development submitted a joint bid. The third bid was from Phoenix Residential and Phoenix Commercial; both companies are owned by Allgreen Properties and Kerry Properties, which are in turn linked to...
Resale prices of private non-landed homes in Singapore increased in November, after three straight months of declines after property cooling measures were introduced in July, flash estimates by real estate portal SRX Property has shown on Tuesday. Condominiums and private apartment resale prices strengthened by 0.2 per cent last month from October. This follows the 0.3 per cent drop in October, a figure...
Park View Mansions will relaunch on Wednesday its collective sale tender with a 22 per cent lower reserve price than before, making it the latest case of owners dialling down their expectations amid a quieter en bloc market. More than 80 per cent of the owners at the 191,974 square feet (sq ft) development right by Jurong Lake Gardens have agreed to a reserve price of S$250 million, down from S$320...
The Government today announced the first half 2019 (1H2019) Government Land Sales (GLS) Programme, which comprises five Confirmed List sites and nine Reserve List sites. These sites can yield about 6,475 private residential units, 86,000 sqm gross floor area (GFA) of commercial space and 1,115 hotel rooms (see Appendices 1 & 2). The five Confirmed List sites are private residential sites which can...
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