The newly completed Kovan Residences saw an increase in transactions from Aug 1 to 8, with three units at the suburban condominium changing hands in that period. Prices achieved were in the range of $1,085 to $1,267 psf. The fully sold 512-unit Kovan Residences was developed jointly by Centurion Properties, the majority stakeholder, in collaboration with construction group Lian Beng, which held a 19%...
singapore property market
The NUS Singapore Residential Price Index (SRPI) has shown that Singapore private home prices in July were flat, as compared to the previous month. The overall index gained just 0.2 per cent from June, as the pace of price increase slowed. Colin Tan, head of Research and Consultancy for Chesterton Suntec International, said this is mainly due to the global uncertainty over the US economy and the eurozone...
The property market was quiet during the Lunar Seventh Month this year, according to real estate services company Colliers International. Only one property was sold, out of a total of 34 properties put up for auction sale, for S$1.66 million. This is comparable to the same period in 1998 - the year of the Asian Financial Crisis - which saw two properties sold for S$1.65 million out of the 29 properties...
Latitude, a high-end condominium located on Jalan Mutiara in the prime River Valley area, has seen a spike in transactions since late July. The 127-unit freehold condo by giant listed developer CapitaLand was completed late last year. Caveat data downloaded from URA for the period from July 26 to Aug 2 saw four caveats lodged for the sale of four four-bedroom units sized at 2,766 to 2,928 sq ft. The...
The consumer price index (CPI) grew to a seasonally adjusted 0.6 percent in July, an increase from 0.4 percent in June, according to the Department of Statistics. It added that housing costs, including utilities tariffs and imputed rentals, grew 9.5 percent in July, an increase from 8.8 percent in June. In addition, the department reported an increase in electricity tariffs this quarter, due to higher...
A new study by Savills Singapore has revealed that five projects on sites sold under the 2006 — 2010 state land sales programmes will fetch at least 50 percent more units than the numbers indicated in the Government Land Sales (GLS) programmes. Kovan Grandeur at Tampines Road comprised the highest percentage of “surplus units” over the GLS programme’s estimates. The project’s 74 apartments are...
During difficult economic times, rental properties are less profitable for landlords. However, there are still some condominiums where rental yields can hit 5.7 percent. Condos such as Blossoms@Woodleigh, Adam Park Condo, The Jade and Far Horizon Gardens, have yields higher than five percent. According to the latest study by Kim Eng Research, areas such as Choa Chu Kang, Sengkang and Woodlands have...
Luxury home prices in Singapore fell 1.7 per cent in the second quarter of the year from the first three months, the biggest drop in CBRE's list of cities in its Asia Luxury Residential report. CBRE said that no new luxury residential projects were launched in Singapore during the second quarter as existing projects continued to struggle to attract buyers. Luxury home rents fell by 1.9 per cent...
Rent of high-end homes might keep falling in the light of an increased supply and less generous housing packages for expatriates. Luxury home rents have dipped by about 2 per cent in six months, according to GPS Alliance associate agency head Jack Teo, while as an OrangeTee agent said, some of his clients have had to cut rents by about 5 to 7 per cent to land a tenant. Upscale projects such as The...
There was a spike in interest and transactions at the nine-year-old Compass Heights in mid-July, which property agents attribute to the upcoming launch of Keppel Land’s Sengkang Square condominium called The Luxurie. Keppel Land had announced last month that it is likely to launch the Sengkang Square condo development by year-end. The developer had purchased the 99-year leasehold, 194,000 sq ft site in...