Property consultancy Colliers International said the Singapore investment sales market experienced a surge of activity in the second quarter this year. Both the private and public sectors garnered investment sales transactions totalling S$1.35 billion from April to June, nearly four times higher than the previous quarter. Colliers said the renewed buzz in the investment market was supported mainly by...
singapore property market
One of Singapore’s leading property developers, Far East Organization, announced the launch of Silversea, its 383-unit mid-upper range condominium on Amber Road (on the former Amberville HUDC apartment site) at prices starting from $1,300 psf, with sea-facing units at $1,600 psf. The launch of Silversea is likely to bring the spotlight back on the Amber Road and Marine Parade neighbourhood, and stir...
Observers say more en-bloc sales are on the cards as a result of improved sentiment and rising demand for land. One market player, Credo Real Estate - a leader in the collective sales market - said at a seminar on Thursday that it expects five to 10 cases in the next few months, with more to follow in 2010. The seminar on en-bloc property sale was Credo's second in a week on the back of rising enquiries....
Speculators or upgraders behind June's record high THE last time figures were anywhere near as high was the peak of the property boom in Aug 2007. A surge in momentum in the stock and property market, already on an upward trend, last month saw private home sales by property developers hit a new high of 1,825 units. But is this an accelerating recovery based on real fundamentals, or a developing bubble...
Sales of uncompleted private homes continued to climb in June as improving sentiment in the market spurred homebuyers to snap up more units. 1,825 new private homes were sold last month – a 9.4 per cent rise from May. The strongest sales were seen at 8@Woodleigh, a condominium at Potong Pasir, where units were sold at a median price of S$804 per square foot. All 330 units at the property were snapped up...
About 65 per cent or 215 units of The Gale condominium development in Loyang were sold at a preview that started last Friday. The units were sold at an average price of S$650 to S$700 per square foot. Due to the strong demand, Hong Leong Holdings had decided to release more than the 80 units originally slated for release. The official launch of The Gale will be held this Saturday, July 18. Hong Leong...
Private home buyers remain unfazed despite the global economic downturn and the government's recent proposal to tax speculators who sell more than one property within a four-year period. Freehold condominium "The Gale" in Loyang has certainly caused quite a storm. Prices average S$700 per square foot and so far, half its 330 units have been snapped up. It is an encouraging sign for developer Hong Leong...
An indication of just how market confidence has turned in a span of just two months can be seen in the sale of the penthouse at Arcadia. The 7,503 sq ft unit was first put up for sale by auction at the end of April. The indicative price was $6 million then, but there were no bidders. However, according to a caveat lodged with URA Realis on June 8, the penthouse has been sold for $6.25 million. Also in...
40,000 new private homes will enter the property market in the next three to four years, according to the National Development Minister, Mah Bow Tan. He said on Thursday that more property information, such as transaction prices, would be published to keep the market efficient and ensure that home prices are based on fundamentals. Mr Mah said: "What we will do is put out complete information on how much...
The Singapore government says a proposed change to the tax policy on property transactions is not aimed at curbing speculation. It will instead give property owners some certainty. That is because property owners who do not sell properties frequently will have the assurance that they will not be taxed on the profits made from such sales. All properties, from public flats to industrial buildings, will be...