Singapore-listed conglomerate Straits Trading Co quietly released 10 units at its Gallop Green project for sale last month. The 53-unit, low-rise development on Wollerton Park, off Holland Road, comprises a mix of 13 townhouses and 40 apartments. Since completion of the freehold Gallop Green in 2002, all units had been held by the developer for investment and were fully leased. The apartments are large...
The most coveted address among the traditional prime residential districts is district 9, in the neighbourhood of Claymore Road and Claymore Hill, Ard more Park and Draycott Park and in the vicinity of the American Club and Tanglin Club, just off Orchard Road. Luxury condominiums in both existing and new developments in that area have soared above $2,000 psf in the last two months — which is pretty much...
With the opening of the $6 billion Resorts World at Sentosa fast approaching, there is a buzz of excitement as investors anticipate the influx of visitors expected in 1Q2010. To cater for a surge in tourists and locals to the island, a 620m $70 million walkway is being constructed and is expected to be completed in November 2010. As development at the upcoming casino gain traction, interest in properties...
Land prices in Singapore have slumped by up to 50 per cent since the property boom in 2007, according to market watchers. Weaker prices, coupled with recent strong demand for homes, could lure developers to replenish their land bank. As home buyers have been flocking to project launches over the past few months, analysts said developers are showing more interest in good residential sites. More than 7,200...
There was a flurry of transactions for condominiums in the neighbourhood of Bayshore Road and Upper East Coast Road, with at least half a dozen apartments changing hands in the week of June 26 to July 3, according to the URA Realis database of caveats lodged. Property agents say the heightened activity is partly due to the euphoria surrounding URA’s new home sales figures for June, which, at 1,825...
Private home prices in Singapore fell 4.7 per cent in the second quarter of this year, compared with the previous three months. Although that marked the fourth straight quarter of falls, the pace of the decline appeared to be moderating. Prices fell a record 14.1 per cent on quarter in the January to March period. The second quarter decline was also better than 5.9 per cent fall predicted in the advance...
More homeowners at Horizon Towers are putting their units up for sale after the proposed $500 million en-bloc sale to a joint venture led by Hotel Properties Ltd fell through in April. The 99-year leasehold property near Orchard saw a total of eight transactions from June 1 to 26 versus only one deal in May. There were four units sold at an average of $848 psf, from June 19 to 26, according to caveats...
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...
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...
Singapore’s property sales increased in the second quarter, according to a report by property consulting firm DTZ released today. Homes in the city’s so-called core central area, known as districts nine, 10 and 11, rose 11.3% to $1,247 per square foot, DTZ said. Last quarter, prices fell 3.7%. Outside of those districts, average home prices increased 3.2% to $573 per square foot in the second...
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