Home prices in Singapore fall as cooling measures take effect

The price of homes in Singapore are still climbing but the rate of growth has slowed, according to the latest data from the Urban Redevelopment Authority. The figures show that prices increased by 0.4% in the third quarter of 2013, down from 1% in the previous quarter. And in some real estate sectors prices are […]

Discounted penthouses for sale in Singapore

Amid another round of cooling measures, Singaporean developers are luring buyers with discounts on their completed penthouse units. Savills Singapore reported that City Developments Limited has offered five percent discount on some of its completed penthouses including units at Shelford Suites, a 77 unit exclusive freehold condominium development on Shelford Road; Wilkie Studio, a contemporary […]

Weekly market round up

 Malaysia The local government in Johor will impose a new property tax on some 130,000 foreigners owning properties in the state, local news papers have reported. State chief Mohamed Khaled Nordin said he believed most locals will be in agreement with the new policy, which is done to increase state returns. The new tax rates […]

GuocoLand announces development of Singapore’s tallest building

GuocoLand recently announced plans to develop Tanjong Pagar Centre, a 290-metre high project, which upon completion is set to be the Lion State’s tallest building. Tanjong Pagar Centre, which spans over 157,935 sqm, is slated for completion in 2016 and has been designed by architectural firm Skidmore, Owings & Merrill. In the main tower, there […]

Singapore property set to be sold for a staggering US$242 million

An elevated 7,900 sq m plot, located on Singapore’s coveted Nassim Road, was recently put on the market for a record US$242 million. Situated close to the island-state’s prime shopping district Orchard Road, the plot comprises a two-storey property, tennis court and swimming, according to sole marketing agent Jones Lang LaSalle. “The sale would set […]

Jem® by Lend Lease is 100% Leased Ahead of Opening

Jem® by Lend Lease, Singapore’s 3rd largest suburban mall located in Jurong East, achieved 100% leased status for its 241 shops last week. The mall boasts a stellar line-up of fashion, beauty, food & beverage and lifestyle tenants which have chosen to locate their first suburban outlet in Jem®. These include international and homegrown brands such […]

Market Review; Thailand Malaysia Singapore

The HDB released its Resale Price Index (RPI) for the first quarter of 2013, this week. The RPI went up 1.2 percent to 205.4 points over the last quarter, the lowest quarter-on-quarter RPI growth since the first quarter of 2012. Commenting on the news, Mohamed Ismail, CEO of PropNex Realty said, “The HDB resale prices […]

Kismis Lodge sells to Newfort Alliance for S$84.18 million

Kismis Lodge, a landed residential development in Singapore, has been successfully sold to Newfort Alliance (Cairnhill) Pte Ltd. Kismis Lodge is situated at Lorong Kismis within the landed housing estates of Upper Bukit Timah. This sale marks the third collective deal done this year by sale brokers, property consultancy firm Jones Lang LaSalle. Kismis Lodge […]

Lend Lease Officially Begins Construction Work on INSEAD’s S$50 million Global Leadership Development Centre in Asia campus

Lend Lease last week officially began construction work of the new Leadership Development Centre for INSEAD, the leading international business school, on the school’s Asia campus in Singapore. The design of this new centre was conceptualised by Lend Lease, one of the world’s leading fully integrated property solution providers, who is also spearheading the construction. […]

Govt open to extending singles’ housing policy to more people

SINGAPORE: National Development Minister Khaw Boon Wan says the government is open to raising the income ceiling to allow more singles to buy new HDB flats. But this will depend on how manageable application rates are for the new scheme, which was announced on Friday during the Committee of Supply debate for the Ministry for […]

Property prices yet to reach acceptable level: Tharman

SINGAPORE: Singapore property prices still have “some ways to go” before reaching an acceptable level, according to Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam. Speaking in a Bloomberg Television interview, Mr Tharman said Singapore’s property is now in a wrong part of the cycle, and prices would become acceptable through a combination of income […]

Singapore’s Housing Tax Hits Home

An increased surcharge the Singaporean government has assessed on most foreign buyers to try to tamp down soaring property prices threatens to rattle Singapore’s uneasy relationship with many of its rich foreigners while giving Americans an edge in one of Asia’s hottest property markets. This month, the government boosted to 15% from 10% the fee […]

Singapore’s latest measures good for UK developers

London properties continued to sell well in Singapore last weekend, with the number of individual developments showcasing their investment opportunities during January hitting double digits, says Andrew Batt from Singapore. Perennial Singapore exhibitor Berkeley Homes attracted strong interest for its prestigious One Tower Bridge development. Piers Clanford, Managing Director of Berkeley Homes:“We’ve had an excellent response and […]

Credit Suisse Singapore sells 2.36% stake in Housing Development and Infrastructure

Credit Suisse (Singapore) Ltd has sold nearly one crore shares, equivalent to 2.36 per cent stake, in the Housing Development and Infrastructure Ltd (HDIL) through open market transactions. In a filing to the BSE, HDIL said that Credit Suisse Singapore has sold 30,15,356 shares in the Mumbai-based firm between November 23, 2012 and January 23, […]

Singapore books record investment commitments

The Economic Development Board (EDB) says Singapore booked record investment commitments in 2012 as investor interest and confidence in Asia remained strong. EDB’s Fixed Asset Investments (FAI), which refers to capital investment in facilities, equipment and machinery, came in at better-than-expected S$16 billion last year. That’s up from S$13.7 billion in 2011. The growth was […]

Home prices rose 1.8% in the fourth quarter of 2012

Private home prices rose 1.8% in the fourth quarter of 2012, compared to a 0.6% increase in the previous quarter. But for the whole year of 2012, prices of private residential properties increased by 2.8%, a smaller rise compared to the 5.9% growth recorded in 2011. The Urban Redevelopment Authority (URA) on Friday said that […]

Thai tycoon set for Fraser and Neave takeover

A Thai tycoon on Monday moved closer to taking over Singapore conglomerate Fraser and Neave (F&N) after his Indonesian rival pulled out of a rare auction. TCC Assets, controlled by billionaire Charoen Sirivadhanabhakdi, formalised its bid to F&N shareholders late Monday, saying in a statement the offer is open until February 4. Property firm Overseas […]

Singapore second in globalisation index

Singapore has been ranked second on Ernst & Young’s Globalisation Index 2012, after Hong Kong. The index surveyed 750 senior business executives worldwide in late 2012. It measured 60 of the world’s largest economies according to openness to trade, capital flows, exchange of technology and ideas, labour movements and cultural integration. Singapore achieved an overall […]

Falling property prices – Singapore

Singapore: Private property prices could go down by five to seven per cent, predicted property analyst Mohamed Ismail of PropNex, as new property cooling measures took effect on Saturday. The measures, aimed at ensuring a sustainable and stable property market, include tightening property ownership for investment. At La Fiesta condominium’s sales site in Sengkang on […]

Top choices for Singaporeans investing overseas

Singapore’s location has always been one of her biggest assets – starting as far back as the days when she started as a fishing village. Flash forward to today: Singapore’s vibrant east-meets west city status, as well as her currency strength, have all come together to provide property investors here the best choices of international […]

Forestville EC developer admits technical problems

    SINGAPORE: Property developer Hao Yuan Investment has admitted that the botched proposed sale of its Forestville executive condominium (EC) was due to “some technical issues.” In a statement on Wednesday, Hao Yuan said it acknowledged that “there were some technical issues with regards to Forestville Executive Condominium.” It added that its “architects are […]

Hong Kong Housing Troubles Unlikely To Impact Singapore

The recent property cooling measures introduced in Hong Kong are unlikely to have an impact on Singapore property prices. Experts said foreign property investors would not switch their portfolio from Hong Kong to Singapore. Besides being leading international financial centres, both Singapore and Hong Kong hold some of the world’s most expensive homes. Hong Kong […]

November home sales drop 44% in Singapore, school holidays to blame

According to an online report, home buyers snapped up 1,087 new private homes last month. This is 44% down from the close to 2,000 homes sold in October as the school holiday period dampened sales momentum. Including executive condominiums (ECs), 1,266 homes were sold. Last month, the figure was 2,624 units. Top selling projects for […]

Singapore to be world’s richest country by 2050

Singapore, Hong Kong, Taiwan and South Korea are projected to be the world’s richest economies on a per capita basis by 2050, a study showed. The survey by property giant Knight Frank and Citi Private Bank, reported in Singapore media Wednesday, also showed multi-millionaires in Asia will continue to outnumber those in North America and Western Europe by 2050. […]

World Cities Review 2012

The fourth edition of Savills World Cities Review takes a closer look at ten world class players in the global property market. Where does your city rank? Read the World Cities global research report and discover which ten cities are shaping global real estate. Read exclusive comparisons of the mainstream and leisure property prices between ten cities across the world. Discover the […]

Singaporean HDB Resale flats – COV up

Are more HDB flat owners hoping to get more out of their flats as the property market heats up once more? It may seem that way as COV prices on again on the rise. Up $3000 from $30,000 in Q3, COV prices in Q4 prove to be climbing, according to data from the Singapore Real Estate Exchange (SRX). The decreasing […]

New project sales status: Singapore’s eCO & Sky Green

According to a Channel News Asia report, 515 units out of the 603 units released at eCOcondominium project have been sold within a month. They were launched for sale on September 22. The 748-unit development, located at Bedok South is a joint venture between Far East Organization, Frasers Centrepoint and Sekisui House. The developers said all […]

Superstition prevents home buyers from purchasing in Singapore

The number of private home sales in Singapore’s Q3 2012 was 5,934. This is sharply down from the 10,780 transactions recorded in Q2. Experts in the Singapore market suggest that the lunar seventh month is again being blamed as the ‘culprit’. It is said that superstitious home seekers avoid buying homes during the inauspicious lunar […]

Singapore 5th in the world for home price rise

On top of news that Asia tops the global charts in terms of home price rise, Singapore races to the top five, putting residential property prices in this red dot at 5th place across anywhere in the world. Singapore came in fifth in the latest Knight Frank Global House Price Index, registering a 10.5 per cent growth […]

Singapore September private home sales up 84%

Demand for new private homes jumped by 84% in September from August, led mainly by a strong rebound in the mass market segment. According to the Urban Redevelopment Authority (URA), 2,621 new private homes, excluding executive condominiums, were sold in September. The number is the second highest since 2,772 units were sold in July 2009. […]

Singapore developer ‘cheeky’ for selling unapproved Melbourne CBD high-rise project off the plan

A Singapore developer has been called “a bit cheeky” and “a little bit arrogant” by Melbourne lord mayor Robert Doyle for selling apartments in proposed CBD skyscraper Melbourne Tower to Asian investors, despite not yet receiving planning approval from Victorian Planning Minister Matthew Guy. CEL Australia, a subsidiary of Singapore-based developer Chip Eng Seng Corporation, […]

MAS Restricts Loan Tenure for Residential Properties

The Monetary Authority of Singapore (MAS) will restrict the tenure of loans granted by financial institutions for the purchase of residential properties. MAS’ move is part of the Government’s broader aim of avoiding a price bubble and fostering long term stability in the property market. The maximum tenure of all new residential property loans will […]

Pasir Ris, Punggol. Next stop… Hillview?

Sales of new private homes have been brisk in the past year for projects in neighbourhoods like Pasir Ris and Punggol. And some industry players said the Hillview area, located in the western part of Singapore, could be the next up-and-coming spot with more projects lined up. The Hillier – a mixed development project at Hillview […]

Local architects build a global reputation

A strong Australian presence was felt at the World Architecture Festival in Singapore last week, with local firms shortlisted in 24 of the 33 categories. There were 50 Australian-designed projects considered for 301 prizes, the most successful being Hassell, which took home three first places. Winning prizes in the “future projections” section, Hassell was the […]

Singapore new project sales status update

Riversails  Allgreen Properties has sold slightly over 200 units at Riversails at Upper Serangoon View since Friday. The average price is $827psf. The 99-year project has 920 units. Kovan Regency Hoi Hup moved close to 370 units or 94% of its 393-unit Kovan Regency over the weekend. The average price of the 99-year project at Simon Road/Kovan Rise is […]

Luxury segment stirring again in Singapore

The luxury segment of the market is starting to see a return of investor interest. Mr Seah, an avid Singaporean property investor and the owner of a freight forwarding business, recently signed the option to purchase a four-bedroom unit on the 62nd level of the 66-storey Marina Bay Suites. He paid close to $6.7 million ($3,258psf) […]

Mirvac sells part of Old Treasury stake to K-REIT

Mirvac Group has inked a second partnership with Singapore-listed K-REIT Asia, selling the group a half-share in its Old Treasury Tower project in Perth for $165 million. The project wil be a new A grade commercial tower on the site of Perth’s Old Treasury. It is scheduled for completion in financial 2015. The 30,800 square-metre […]

Bishan Park in Singapore

Architecture: Atelier Dreiseitl Photographer: Patrick Bingham-Hall In this ambitious infrastructure project in Singapore, Atelier Dreiseitl has repurposed a concrete water canal into a peaceful, meandering creek, producing an absorbing and welcoming public space, refreshingly free of architectural heroics. Elizabeth Barlow Rogers, Landscape Design: A Cultural and Architectural History, 2001: “The park’s real purpose was the creation of […]

Gina Rinehart splashes out in Singapore

The mining tycoon Gina Rinehart has reportedly secured two luxury Singapore apartments – getaways rather than permanent abodes – with Singapore’s Business Times newspaper suggesting the purchases were in the Seven Palms Sentosa Cove condominium. The 41 apartment complex, scheduled for completion this year, has been designed by the Perth-born architect Kerry Hill. It’s an upmarket waterfront residential district […]

KINETIC RAIN SINGAPORE AIRPORT

German design studio ART+COM have completed the Kinetic Rain art installation for the departure hall of Terminal 1 at Changi Airport in Singapore. “Kinetic Rain” is composed of two parts, each consisting of 608 rain droplets made of lightweight aluminum covered with copper. Suspended from thin steel ropes above the two opposing escalators, each droplet […]