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D9 – Launching Soon! Devonshire Residences
Project Details PROJECT NAME: DEVONSHIRE RESIDENCES DISTRICT: 09 ADDRESS: 55 Devonshire Road TYPE OF DEVELOPMENT: Private Residential Apartment / Condominium DEVELOPER: Orchard Suites Residence Pte Ltd (Oxley Holdings Limited) TENURE: Freehold LAND AREA: 1,245sqm / 13,396sqft PLOT RATIO: 2.8 DATE OF T.O.P.: 31 December 2015 DATE OF LEGAL COMPLETION: 31 December 2018 TOTAL BLOCKS / … Read more
KNEE-JERK REACTION? NOT QUITE
When the most recent set of property cooling measures were announced in mid-January, many people expected a knee-jerk reaction even if a few felt the new rules were benign. Others feared the worst. It has been more than two months since the measures came into effect and we have had more statistics to mull over. … Read more
CAPITALAND AND MEA TO DEVELOP CONDOMINIUM IN BISHAN
A day after the Hong Leong Group put in a bid for a residential site in a consortium which included a Japanese partner, CapitaLand said yesterday that it will partner Mitsubishi Estate Asia (MEA), a wholly-owned subsidiary of Mitsubishi Estate (MEC), to jointly develop a 600-unit condominium in Bishan Central. With a track record of … Read more
‘MIXED SIGNALS’ IN RETAIL LEASING MARKET: CBRE
The retail leasing market gave mixed signals in Q1 2011, said property consultants CB Richard Ellis (CBRE). It said monthly rents for prime Orchard Road averaged S$30.10 psf per month in the first quarter, reflecting a decrease of 0.5 per cent from a quarter ago. Prime suburban rents remained at S$29.10 psf per month, unchanged … Read more
Property auction sales plummet in Q1
The property auction market has registered a sharp drop in the total number of transactions and sales in the first quarter, winding up a total of 17 deals worth S$27.9 million, according to new data released by Colliers International. The commercial brokerage firm said the significant decline in Q1 sales value can be attributed to dampened sentiment in the residential … Read more
HDB AWARDS CHOA CHU KANG EC SITE TO CAMBORNE DEVELOPMENTS
The Housing and Development Board has awarded the residential land parcel at Choa Chu Kang Drive to Camborne Developments. The developer had submitted the highest tender price of S$170.1 million out of the six bids for the site that is proposed for executive condominium (EC) housing. The 17,590 square metre site was launched for sale … Read more
Singapore’s mass market property prices hit record high
Singapore’s resale capital values rose in the first quarter of the year, although more upward pressure was seen outside the prime districts in the Central and East Coast areas, according to preliminary estimates released by Jones Lang LaSalle (JLL). According to the global real estate services firm, capital values in the Central and East Coast regions … Read more
PURCHASING TENANTED UNITS
DESPITE the Government’s cooling measures, some introduced last year and some this year, there is still a keen interest among property investors to park their dollars in residential units in Singapore. One option is to buy a unit that is already tenanted, which offers the investor an almost immediate rental return. A Far East Organization … Read more
COOLING MEASURES TAKING EFFECT, SAY ANALYSTS
Figures released yesterday appear to show that the Government’s property cooling measures, the last round announced in January, have started to take effect. The NUS Private Residential Price Index, which tracks month-on-month price movements of private, non-landed residential properties, fell 0.4 per cent compared with January, with prices in non-central areas falling 1.5 per cent. … Read more
Bungalow developer confident of robust demand
In Singapore, a Good Class Bungalow (GCBs) is uncommon but even less ordinary is the story of Mr. George Lim, who has become a prime developer of these high-class homes. Since 2006, Mr. Lim, 59, has redeveloped and sold seven bungalows, worth a total of S$145 million. Recently, he made the headlines after paying S$61.4 million for … Read more
FROM HOT SPOT TO CHILLY SENTOSA COVE
ONLY eight non-landed homes have been sold in the once property hot spot of Sentosa Cove in the first two months of the year. This is down from 17 transactions in the last three months of last year and well under the second quarter of last year when the 71 sales were recorded. Then, the … Read more
SINGAPORE’S HIGH HOME PRICES POSE RISKS AHEAD OF ELECTIONS
Wendy Cheng, 32, has been trying to buy a home for over two years but without success. Cheng and her American teacher husband cannot afford property on the open market where a government-built apartment can fetch as much as $700,000, and they have been unsuccessful in balloting for flats available from the state at a … Read more
Home Price Updates ‘could affect market’
PROPERTY insiders are warning that proposals to give buyers the latest prices of new home sales more quickly could cause exaggerated price rises and falls. But with that caveat, they are broadly in favour of the proposals unveiled by the Urban Redevelopment Authority (URA) last week. The moves include requiring developers to release the price … Read more
RESILIENT OR WANING MARKET?
Despite Government cooling measures, there has been respectable take-up and optimistic land bidding Whenever the Government imposes measures to cool the residential property market, there would be knee-jerk reactions resulting in potential buyers hesitating and adopting a wait-and-see attitude. This behaviour was obvious after the Aug 30 measures were announced but the short-lived patience of … Read more
MORE HOME BUYERS CHOOSING SMALLER UNITS
The last two rounds of the government’s property cooling measures may have driven more home buyers to opt for smaller and cheaper homes, according to new research. Property analysts attributed the trend to the tighter loan-to-value (LTV) ratio for home buyers with existing mortgages. The LTV ratio has been cut twice since last year, from … Read more
ROLL OF HONOUR OR DISHONOUR?
There were two good property reads this week. One was a perceptive commentary which had “ghost towns” in its headline but it was not images of vacant HDB flats that came to my mind. But more of that later as I first need to lay the foundation for that story with the other, which should … Read more
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