Sales of new private homes plummeted 65 per cent in February from the previous month, a drop which analysts ascribed to a “knee-jerk” reaction to the latest round of cooling measures and a lull in the market because of the Chinese New Year holiday. However, they said they expected volumes to rebound sharply this month as developers launch new projects with sweeteners to woo buyers — and, indeed,...
real-estate
Sales of new private homes in Singapore fell sharply in February, due to the Lunar New Year holidays, fewer launches and the government's latest round of cooling measures. However, analysts said it is still too early to gauge the effectiveness of the cooling measures introduced earlier this year. According to data from the Urban Redevelopment Authority, 708 new units were sold during the month, down by...
A new condominium, D'Nest, located at Pasir Ris Grove will be launched for preview sales on Friday. The 912-unit project is jointly developed by City Development Limited (CDL), Hong Leong Holdings and Hong Realty. In a statement, CDL said it is planning to sell the units at an average price of S$990 per square foot. However, it will be offering an early bird discount of 7 per cent on the launch price in...
The land tender for a commercial site at Venture Avenue in Jurong East has attracted nine bids. According to the Urban Redevelopment Authority (URA), Sim Lian JV (Vision) placed the top bid at about S$701 million for the 99-year leasehold site. It is about nine per cent higher than the second highest bid of S$643 million from Victory One Pte Ltd. Sim Lian JV (Vision) is jointly incorporated by Sim Lian...
The new mixed-use commercial development SBF Centre at Robinson Road has seen strong take-up. In a statement, Far East Organization said 75 per cent of the 186 units released have been sold during the preview sales period from 25 February. The SBF Centre, a joint venture between Far East Organization and Far East Orchard Limited, will launch on 14 March. Far East Organization said 138 office units were...
A scheme that gives priority allocation for new HDB flats to first-timer married couples with a citizen child below the age of 16, will be extended to pregnant mothers from May this year. The Parenthood Priority Scheme will also be extended to couples who are married but without children, sometime next year. National Development Minister Khaw Boon Wan, who announced the new housing measures in Parliament...
Resale prices of private non-landed homes increased 2.7 per cent in February when compared with January 2013, according to flash estimates put out by the Singapore Real Estate Exchange (SRX). SRX compiles data from 11 top property agencies in Singapore. Leading the rise were properties in the suburbs. Resale prices of non-landed private homes in those areas rose surged 5.1 per cent on-month to an average...
New home sales in January were robust despite the introduction of yet another round of property market cooling measures that month, with developers selling a total of 2,013 private residential units, excluding executive condominiums (ECs), representing a hefty 43 per cent surge from the previous month. The strong sales performance was due partly to attractive pricing and other incentives in the aftermath...
Iskandar Malaysia in Johor has been attracting wide media attention of late, with interest peaking in the middle of last month, when the Prime Ministers of Singapore and Malaysia officiated at the launch of several joint projects undertaken by the private sector of both countries. After seven long years and several false starts since it was launched in 2006, is Iskandar finally taking off? Many Singapore...
Big institutional investors have been actively buying up properties across the region. Property investments by pension, insurance and sovereign wealth funds have doubled over the last two years. And some of these investments have spilled over into the Singapore property market. Property sales for investment purposes hit S$31.45 billion in Singapore last year. These include purchases of government land,...