DESMOND SIM says demand likely from financial, biomedical sectors THE leasing market for non-landed homes showed signs of recovery in the final quarter of 2009, going by Urban Redevelopment Authority numbers. Median rents saw their first quarter-on-quarter growth of 0.5 per cent following five quarters of continued decline from a peak in Q2 2008. The monthly median rent in Q4 2009 was $3.02 per sq ft....
singapore property market
Collective sales of such properties tend to be slow SINCE the phenomenon of collective sales started in 1994, there have been over 400 en bloc developments sold to date. Of these, only a handful, possibly about 10 or so, were mixed developments, that is, buildings with a variety of uses like shops, offices and apartments. Most of the successful en bloc sales were purely residential developments, or those...
THE Government has to shoulder some of the blame for the short supply of land and high property prices, said Mr Simon Cheong, president of the Real Estate Developers' Association of Singapore (Redas), yesterday. Mr Cheong told the audience at the launch of a new property price index that land values are largely determined by the Government's reserve price system that features in all state land tenders....
A NEW index that tracks the price of private non-landed homes month by month has been created to help owners, investors and other property watchers keep a handle on the fast-moving market. The Singapore Residential Price Index (SRPI), as it is called, has been formulated by the National University of Singapore (NUS) after two years of research. It functions much like the Straits Times Index for shares...
POSH property seems to be back in vogue, with one recent launch snapped up and new high-end developments slated for previews in the coming days. Home-hunters showed keen interest in Keppel Land's Reflections at Keppel Bay over the weekend, and projects in Sentosa, Nathan Road and Shenton Way are also apparently generating interest. But while prices are robust and tipped to move up, they are still below...
The market is likely to chalk up more than $200 million worth of transactions this year, says GRACE NG IT was a stellar year for auctions last year despite the unfavourable market conditions. About $168.4 million worth of properties were sold at auctions in 2009, doubling the $83.67 million done in 2008. The residential sector was the star performer, chalking up $88.4 million worth of transactions, or...
Redas chief says state intervention on supply side not always helpful The president of the Real Estate Developers' Association of Singapore (Redas), Simon Cheong, came out strongly yesterday to say the government should allow the property market here to operate fully as a free market. Mr Cheong, who was speaking at the launch of a new price index for private homes in Singapore, also asked if the state...
Emil Chau also buys one as showbiz stars dip into S'pore property market Hong Kong movie superstar Jackie Chan and his good friend singer/songwriter Emil Chau, who were in town recently for last Sunday's Thong Chai Charity Night, also picked up some properties in Singapore. The duo bought four apartments at Lippo Group's freehold Centennia Suites worth over $10 million last week. The four units are on...
77% of total sales of $4.4b came from private market THE investment sales market strengthened further in the first quarter of 2010, as robust sales of residential government land sale (GLS) sites showed developers' hunger for land. Total investment sales came up to $4.41 billion in the first quarter, 16 times more than the paltry $273.83 million in Q1 last year, a CB Richard Ellis report said...
The Real Estate Developers' Association of Singapore (REDAS) hopes that there will be fewer interventions in the private property market. Its president, Simon Cheong, said this would give a freer hand to market forces. Speaking at the launch of the National University of Singapore's national Residential Price Index, Mr Cheong said the recent measures to cool the market did not deter genuine home buyers...