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
