March sees 0.9% increase in non-landed private home prices

According to NUS’s overall Singapore Residential Price Index (SRPI), the prices of completed non-landed private homes excluding ECs saw a 0.9% rise in March, compared to a 1.2% fall in February. This was largely due to the Central Region sub-index (excluding small units), which saw a 2.2% increase in March, after a 3.7% fall in February. Nevertheless, there is still a large supply of unsold units in the Central Region (both completed and under-construction). The Non-Central Region sub-index (excluding small units) remained stable with a slight 0.1% decline in March, after a 0.1% gain in February.  Meanwhile, the sub-index for prices of completed shoebox units (up to 506 sq ft) islandwide saw a 0.7% gain in March, after a 0.9% fall in February.

(Source: Business Times)

Non-landed private home owners made $107 million profit from resales

According to OrangeTee, non-landed private home owners made a total of $107 million in gross profit from quick resales in the period of Q1 2012 to Q1 2013. This is attributed to the high property prices. In addition, it was also noted that only newly completed homes that were resold after receiving the TOP yielded good profits. There were 348 transactions which were sold within one quarter from which the TOP was obtained, of which only one was unprofitable. Each unit offered a 33% average gain in profit, with the most profitable being units in the OCR, which offered a 41% gain, compared to 31% and 25% gains for the RCR and CCR, respectively. Generally, shoebox units (no more than 50 sq m) were less profitable than non-shoebox units in all regions, with an average profitability per unit of $132,000 or 25%. The highest average gross profitability of 43% per unit in the period studied was in Q3 2012; this has fallen since given the cooling measures.

(Source: Business Times)

30% of 99-year Eden Residences Capitol sold

12 of the 39 residential units at Eden Residences Capitol, the residential component of the mixed development at the junction of Stamford and North Bridge roads, have been sold at an average of $3,000 psf. Unit sizes in the residential component range from 2,100 sq ft to over 6,500 sq ft. The project also features an 800-seat Capitol Theatre which will offer both movies and performing arts, Capitol Building and Stamford House, a four-level retail component and 157-room The Patina, Capitol Singapore hotel. Rooms in the hotel will range from 45 to 65 sq m.

(Source: Business Times)

30 units of 103-year leasehold Ferra launched for sale

30 units of the 104-unit 22-storey Ferra, a luxury condominium development at 1 Leonie Hill have been launched for sale, at prices from $2.3 million for a 732 sq ft unit, or $3,160 psf. Units in the development ranges from 732 to 893 sq ft, in addition to two 2,013 sq ft penthouses which have yet to be launched. Buyers can customise their unit layout or choose from a selection of pre-designed layouts. It is expected to draw some interest given the smaller and therefore more affordable units, its design and the small number of units released.

(Source: Business Times)


Three 22-year industrial sites at Tuas South St 6launched for sale

The three sites include a 0.45 ha corner plot (Plot 1) and two other 0.30 ha plots. All three sires have a maximum GPR of 1.0 and are zoned for Business 2 development. They will likely attract industrialists, given the zoning, the short lease term and the size of the plots. The first plot is expected to attract seven to 11 bidders with bids of $75-$90 psf ppr while the other two plots are likely to attract five to nine bidders with bids of $70-$80 psf ppr. The tender for the sites will close on June 11 at 11.00am.

(Source: Business Times)

Plans for Tanjong Pagar Centre revealed

Plans for Tanjong Pagar Centre, an integrated mixed-use development located above the Tanjong Pagar MRT station, have been released by its developer, GuocoLand. It will consist of Guoco Tower, a 38-storey Grade A office block, six levels of retail and F&B space, a luxury business hotel, a sheltered event space in Tanjong Pagar City Park and residential units in a 1.7 million sq ft floor space. The offices block will offer large floor plate and column-free spaces of 25,000-29,000 sq ft while the 100,000 sq ft retail mall will offer largely F&B outlets. There will also be 200 one- to four-bedroom units and penthouses in TP180, the residential component.

(Source: Business Times)

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