Singapore has edged out Hong Kong in terms of living conditions deemed most desirable in the Asia Pacific region for mobile millionaires, according to a survey by RBC Wealth Management. The city-state was favoured by almost a third of US dollar millionaires who spend most of their time outside their home countries, while Hong Kong placed second with 24 percent, said RBC and The Economist Intelligence Unit...
real-estate
The Whitley Residences by Hoi Hup Realty sold 19 freehold cluster homes at around S$5 million each during a preview last Sunday. This translates to an average price of about S$850 psf, taking into account the 12 percent discount and absorption of the three percent buyer’s stamp duty, reported The Business Times. According to a spokeswoman for the developer, all the buyers were Singaporeans....
The Urban Redevelopment Authority (URA) closed the tender for the residential site at Alexandra View today. The 99-year leasehold site at Alexandra View was launched for public tender on 7 November 2012. It was originally made available for sale through the Reserve List system on 26 September 2012. The top bid was submitted by Singland Homes, a wholly-owned subsidiary of SGX-listed property developer...
A conservation shophouse in Dhoby Ghaut has been put up for tenancy by the Singapore Land Authority. Shophouses in Orchard Road are rare, especially the one up for tenancy at 38 Orchard Road which is 3-storey high shophouse with a floor area of 4,000 square feet. Channel NewsAsia understands that there are about 30 such shophouses in the area. These conservation shophouses have been gazetted for...
Singapore property investors are now moving across the Causeway in search for new opportunities. This has caused residential property prices in Johor's Iskandar region to climb almost four fold since they were launched some 5 years ago. A bungalow in Horizon Hills which cost about RM1 million (S$400,000) about 4 years ago now costs about RM5 million. Meanwhile, land plots for bungalow developments in...
DBS Group on Monday announced plans to acquire a stake in Marina Bay Financial Centre Tower 3 (MBFC), where the bank's headquarters is located. In a filing with the Singapore Exchange, the bank said it will pay S$1.035 billion for a 30 per cent share in Central Boulevard Development Pte Ltd - a joint venture of Cheung Kong (Holdings) Ltd and Hutchison Whampoa Ltd. DBS also has an option to take up...
Dual-key units in executive condominiums (ECs) are rising in demand among home-seekers. Developer MCC Land said its executive condominium project One Canberra sold out its 95 dual-key apartments within a month, from when the project was launched in April. The developer is now confident that its new project, the EC Forestville, will also do well. The number of dual-key apartments there is twice that of...
Resale home prices of both non-landed private residential units and HDB flats continued to climb to new highs in October and November against the third quarter 2012. But according to data released by the Singapore Real Estate Exchange (SRX), the rental market for private homes is showing signs of softening. As a result, overall gross rental yield dropped to a six-year historic low of 3.77 per cent in the...
The Republic's industrial sector is near a tipping point, and rents are expected to decline 7 to 10 per cent over the next two years on rising vacancy rates, DBS Vickers said in a research report yesterday. Lower completion of new industrial space over the last few years had resulted in record low vacancy levels and a strong surge in industrial capital values and rents since the start of this...
As more wealthy Singaporeans and other Asians seek to buy property in prime overseas locations such as London, whether for investment or residence, their private bankers are only too happy to help. The wealth management divisions of banks are reporting brisk business in setting up short-term revolving loans for property purchases. The term is usually five years, renewable annually after that, and the...