Property analysts expect resale prices of public housing flats to remain high this year, after trending up by 2.5 per cent in the fourth quarter of 2012. But they said prices could start to weaken in 2014 to 2016 as over 8,000 units of resale flats could be available in the market. G.Sharmene and her family are expecting to move into their new executive condominium (EC) unit at Austville Residences early...
real-estate
The Urban Redevelopment Authority received 12 bids at the close of tender for the residential site in Ang Mo Kio Avenue 2 on Tuesday. Pinehill Investments - a wholly-owned subsidiary of Wheelock Properties (Singapore) - was the highest bidder for the residential site for S$550 million, or S$790 per square feet per plot ratio (psf ppr). This was 2.6 per cent above the second highest bid of S$536 million...
Echelon, the highly anticipated residential development by City Developments Limited (CDL) and its joint venture partners Hong Leong Holdings Limited and Hong Realty (Private) Limited, continued with its strong sales when the project was officially launched over the first weekend of the New Year – 2013. Over 200 units were snapped up when the project previewed on 28 December 2012. As at Sunday, 6 January...
The eye-popping S$590 million collective sale of Thomson View Condominium faces opposition from 13 of its owners who claim the block is undervalued, The Straits Times reported. As a result, the Strata Titles Board has issued a stop order that takes effect on 14 January as three rounds of mediation for the condo have been unsuccessful. The main issue is reportedly the sale price. Those objecting feel they...
Prime shopping space in the central business district (CBD) has shrunk. As at end of September 2012, retail space - excluding that for drinking, eating and entertainment - has fallen by about 3 per cent, according to data by the Urban Redevelopment Authority (URA) which was analysed by real estate firm Colliers International. Prints, an upmarket stationery retailer, has been looking to expand in the...
The Alexandra area is set to become a hotspot for expatriates on the lookout for rental properties, noted a report in The Straits Times. According to Steven Tan, Managing Director of OrangeTee, the area has evolved in recent years. While housing used to be limited to HDB flats, more private properties have mushroomed within the area, including Alexis, Metropolitan and the newly-launched Echelon. Sited on...
National Development Minister Khaw Boon Wan has asked the Urban Redevelopment Authority (URA) to review and fix the policy allowing developers to sell off free spaces to make additional profit for themselves. He said this in a blog post, "Who Gets Short-Changed?", on Monday, on the heels of recent launches of executive condominium (EC) projects. Mr Khaw noted that in these projects, super-sized units...
Rising private home prices may spell further policy risks amid the hot property sector, noted Colliers International. Flash estimates by the Urban Redevelopment Authority (URA) show that private home prices increased 1.8 percent quarter-on-quarter in Q4 2012, capping the year which saw an overall 2.8 percent rise. This brings prices to an all-time high since the 2009 fiscal crisis. This is still slower...
Analysts expect the bumper supply of homes this year to provide more choices, especially for singles and families, reported The Straits Times. Aside from meeting demand, the government’s ramped up supply of about 20,000 new flats for 2013 aims to cool the resale market. Meanwhile, land sites marked for release could yield 14,000 private homes, including 3,100 executive condominium (EC) units in the...
Home prices in the United Kingdom declined last month and may fall "modestly" this year because of a weak economic recovery, Nationwide Building Society said yesterday, but the London market that is popular with Singaporean and other Asian investors stayed resilient. The average cost of a home slipped 0.1 per cent to £162,262 (S$ 321,900) in December from the previous month, the UK lender said. From a...