While the latest round of property market cooling measures is likely to hit housing demand significantly, developers are expected to bid actively for the sites on the Government Land Sales programme (GLS) for the first half of this year, as most are situated in good locations. Two days before the Jan 11 announcement of property curbs, the Urban Redevelopment Authority awarded the first GLS site for this...
singapore property
Colliers International said private home prices are expected to remain relatively stable with marginal downside this year, thanks to the government's latest cooling measures imposed in January 2013. In the face of mounting supply, rents are also expected to weaken this year. According to a report by Colliers International, average monthly gross rents of luxury/super-luxury homes are expected to decline...
The tender for a mixed commercial and residential site at Yishun Ring Road/Yishun Avenue 9 has attracted 13 bids. According to the Housing and Development Board (HDB), the highest bid of S$212.1 million was submitted by CEL Property - subsidiary of Singapore-listed Chip Eng Seng Corporation. This translates into about S$8,551 per square metre of gross floor area. The second highest bid was jointly...
They should be more calibrated, rather than one-size-fits-all: Developer Property developer GuocoLand, the Singapore-listed firm controlled by Malaysian billionaire Quek Leng Chan, would like to see a more calibrated approach to property cooling measures by the Government rather than a one-size-fits-all approach. Said its newly-appointed Chief Operating Officer, Mr Cheng Hsing Yao: “In a global...
It's all quiet on the industrial property front more than a week after Singapore's first cooling measure on the sector kicked in. Most market experts are confident that industrial property prices will hold steady and may even increase by up to 15 per cent this year. But there're others who believe the sector is set for a correction. For the first time, Singapore is imposing a Sellers' Stamp Duty on...
Q Bay Residences at Tampines has sold 312 out of its 510 launched units as of Monday, after its launch last weekend. The project is jointly developed by Fraser and Neave (F&N), Far East Organization and Sekisui House. It is the first private residential project to be launched since the latest round of property cooling measures introduced by the government. According to a statement released by...
Property analysts said developers will probably have to get more creative in order to move sales after the introduction of new cooling measures recently. One developer told Channel NewsAsia that it is planning to complete its condominium project a year ahead of schedule to entice buyers. To date, 380 of the 500 units launched at La Fiesta at Sengkang have been sold. There are 810 units at La Fiesta in...
National Development Minister Khaw Boon Wan says "plenty" of housing units are coming on stream, with about 200,000 units to be built by 2016. Of these, about 80,000 are private properties, 10,000 are Executive Condominiums and 110,000 are HDB units. Mr Khaw said this is equivalent to the building of four new Ang Mo Kio towns by 2016. He made the comments in a blog post, "Enough Homes for All", on...
Channel NewsAsia understands authorities are conducting spot checks on at least seven property developers to find out if they have backdated their documents. It has been about a week since the latest round of property cooling measures kicked in. Among the changes is an increase in Additional Buyer's Stamp Duty of five to seven percentage points across the board. In a bid to help buyers avoid paying the...
Asking prices of private resale homes appear to be holding up right after the new cooling measures kicked in over the weekend. But some analysts said sellers may be forced to lower their expectations if sales volume stays thin and developers cut prices of new units in the market. Following the implementation of new cooling measures, some analysts have said the resale property market will be "quiet" or...