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
$36m Sentosa home sale still valid
RUMOURS that a buyer walked away from his $500,000 deposit for a posh bungalow after he got cold feet over the $36 million price tag appear unfounded. The title deed shows that Mr Shen Bin – a Chinese national and a Singapore permanent resident – remains the owner of the 14,983 sq ft plot on … Read more
Property prices have stabilised
Home prices have stabilised after four rounds of measures aimed at cooling the real estate market, according to a senior government official. Peter Ong, Permanent Secretary at the Ministry of Finance, said that property prices “have sort of stabilised”, during a conference on East Asian development. His remarks indicate government authorities may not introduce new property measures anytime … Read more
More foreigners buy resale exec condos
INCREASING numbers of foreigners are snapping up executive condominiums in the resale market and helping to push prices to record levels. Foreigners, including permanent residents (PRs), bought 321 ECs or 33 per cent of all resale homes last year, said Savills research and consultancy, with Indian nationals by far the biggest segment. This is up … Read more
Couple sue developer over home defects
A COUPLE have sued a unit of property developer Kheng Leong, claiming the apartment the firm delivered to them was unfit for occupation. Mr Benson Tan and his wife Amelia, who bought a unit at Oasis Garden condominium, have sued Peak Homes Development, seeking compensation for various costs, such as the rental for another house … Read more
PRIME ORCHARD SITE PUT UP FOR TENDER
A prime Orchard Road site, situated next to International Building and near Orchard MRT, has been put up for tender. It is zoned for commercial use and has a potential gross floor area of about 16,000 square metres. Notable buildings in the vicinity include Claymore Plaza, Pacific Plaza, Shaw House, Shaw Centre and the Royal … Read more
S’PORE HOTEL ROOM RATES RECORDS HIGHEST INCREASE WORLDWIDE
Singapore recorded the highest percentage jump worldwide for hotel room prices last year – a 29 per cent increase over 2009 – according to a local study by hotels.com. This was based on bookings through its Singapore site, and does not take into account the bookings made overseas. Singaporeans paid an average of S$244 for … Read more
