Resale prices of non-landed private residential units inched up 0.6 per cent in January, compared to December 2012, according to flash estimates released by the Singapore Real Estate Exchange (SRX). SRX compiles data from 11 top property agencies in Singapore. A rush to buy properties to beat the latest round of cooling measures pushed demand higher and raised prices last month. Tough property cooling...
real-estate
Property giant United Industrial Corp (UIC) on Friday reported annual net profit doubled even as revenue fell, helped by a surge in fair value gains on the group’s investment properties. For the year ended Dec 31, UIC earned S$391.6 million, including a S$247.3 million revaluation gain, while revenue slumped 12 per cent to S$711.5 million. Turnover fell mainly due to lower revenue from hotel operations,...
Global Capital & Development (GCD), the lead investor of Medini in Iskandar Malaysia's Nusajaya development zone, says the region has attracted some S$2 billion in investments from Singapore since 2006. GCD says investment from Singapore in Iskandar Malaysia is set to soar; Singapore is already the single largest foreign investor in the region. Link (THM) Holdings, a Singapore developer, is the...
Developer says foreigners will be attracted to resort projects in places like Hua Hin, Phuket Thailand’s Sansiri Group, one of the country’s largest developers, is looking to sell more homes to Singaporeans and other foreigners as the Thai property market recovers from the devastating effects of last year’s floods. “Prices here are so much cheaper than in Singapore and we have a lifestyle here...
Shopping mall developer and operator CapitaMalls Asia announced on Thursday a 10 per cent on-year decline in its fourth-quarter net profit. The company attributed the drop mainly to lower fair value gains from investment properties in China and Singapore, as well as impairment losses in India and higher finance costs. Net profit for the quarter fell to S$184.8 million from S$205.4 million a year...
Housing undersupply could become a thing of the past as the government has pledged enough HDB flats for all Singaporeans, even as the population is projected to reach 6.5 to 6.9 million by 2030. In Parliament yesterday, National Development Minister Khaw Boon Wan stated that about 200,000 new units are currently being built and will likely be ready in four years. “We will continue to launch more BTO...
Singapore property developers will face tougher regulations if a proposed amendment to the Housing Developers (Control and Licensing) Act is enacted into law. The Bill aims to protect the interests of buyers purchasing uncompleted units, and will force developers to publish details of discounts, stamp duty reimbursements and incentives given to home buyers. It will also see greater regulation of show...
Pulau Seringat which forms part of Singapore’s southern islands has been zoned residential by the government under its new Land Use Plan, after being earmarked as a potential casino resort six years ago. Although some areas are still rustic, this tiny island south of Sentosa is showing signs of progress with paved roads, covered shelters and a visitors’ centre that welcomes boats docking at the jetty,...
The hype over shoebox property units seems to have cooled down. Sales transactions in these small private apartments have fallen by 46 per cent in the second half of 2012. In the second half of 2012, some 1372 units were transacted compared to 2539 units in the first half of last year. Experts cited fewer launches as developers focus on building bigger units to meet demand. Still, analysts said there...
A total of three bids were received by the Housing and Development Board (HDB) at the close of tender for a land parcel at Commonwealth Avenue. The land parcel is nestled in the Queenstown HDB estate, just across the street from Queenstown MRT Station. The site, which has a gross floor area of over 12,000 square metres or a maximum gross floor area of over 59,000 square metres, is planned for a private...