In a bid to attract more buyers, some property developers are lowering the prices of their residential projects by about 5 to 10 per cent after the latest round of cooling measures took effect on July 6. Daintree Residence, a 99-year leasehold condominium which opened for sale on July 28, was selling at an average price of S$1,710 psf, which is 5 per cent lower than the earlier announced price of...
Tekka Place, a redevelopment of the former The Verge shopping mall in Little India, is set to open in late 2019. The integrated mall is developed by Singapore-listed construction and property development company, Lum Chang Holdings, and a fund managed by LaSalle Investment Management Asia. The new development will comprise a 10-storey main block and a seven-storey annex block with rooftop deck....
Owners of Kingsley Mansion are launching an en bloc sale by tender for the 18-unit condominium in the Balestier area with a reserve price of S$45.5 million. The reserve price for the 14,350 square foot freehold site translates to a land rate of S$1,132 per sq ft per plot ratio (psf ppr), with no development charge payable on its gross plot ratio of 2.8 times or the maximum permissible gross floor area...
JadeScape is proudly designed by Paul Noritaka Tange of Tange Associates who is an Award Winning and World-Renowned Architect. This nature-inspired development will comprise of 7 residential towers of 21 to 23 storey high and offers a broad selection of unit mix ranging from one bedroom to five bedrooms. All layouts are meticulously planned and designed to ensure efficiency and functionality, Home...
Golden Mile Complex, a familiar landmark with its eye-catching stepped terraced design, is going en bloc. As 724 owners of 550 units have signed the collective sale agreement – representing 80.83 per cent of the total share value of the development – the required approval of 80 per cent has been met. The notice of the proposed collective sale was dated Aug 3. The neighbouring Golden Mile Tower,...
With less than a third of collective sale sites sold so far this year and no deal inked since property cooling measures took effect more than a month ago, one property analyst has declared the current cycle of en bloc fever to be over. More than 30 collective sale sites have failed to secure a buyer since January, according to data from real estate agencies Huttons Asia, Savills and Colliers. "This...
Rentals for condominiums and private apartments continued to stabilize in July while the more volatile rents for HDB flats reversed direction and rose, with both markets enjoying a pickup in activity, according to SRX yesterday. Flash estimates from SRX real estate portal show rents for non-landed private homes saw no month-on-month change in July after inching down 0.1 per cent in June. Private...
The group chief executive of City Developments Ltd (CDL), Sherman Kwek, says the impact of the property cooling measures rolled out last month will be rather different from that in the 2010-to-early-2013 period. Despite successive rounds of cooling measures being rolled out during those years, private home buyers managed to get round the negativity and continue pushing on, he recalled. Developers...
City Developments Limited’s (CDL) second-quarter net profit soared 79.5 per cent from a year ago, on the back of strong sales. The property developer on Wednesday (Aug 8) posted a net profit of S$204.8 million, up from S$114.1 million in the same period a year ago. The rise came alongside an almost 60 per cent increase in revenue for the quarter to S$1.36 billion, compared with S$854 million last...
Singapore developer CapitaLand's second-quarter net profit rose 4.4 per cent from a year ago to S$605 million, boosted by contributions from newly acquired investment properties in Singapore, China and Germany as well as revaluation gains. These were partially offset by lower portfolio gains and contribution from the group's residential business, CapitaLand said in a statement on Wednesday (Aug 8)...
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