Singapore Property News This Week #141

Residential Developers more cautious in EC bidding Analysts say that developers are now showing more caution in bidding for executive condominium (EC) sites after the tender for a 99-year leasehold site at Canberra Drive. The highest bid out of six bidders was $226 million, or $350.04psfppr, from a joint venture between Verwood Holdings, a unit…

Are the Effects of 7 Rounds of Property Cooling Measures Wearing Off?

By Mr. Propwise It’s been almost five months since the announcement of the seventh round of property cooling measures by the government, which imposed steeper stamp duties and lower loan-to-valuations for mortgages. Have the measures had their intended effect to curb the rapid rise of property prices in Singapore? 2013Q1 URA PPI moderated, but prices…

Singapore Property News This Week #97

Residential Freehold Kismis Lodge sold for $84m Kismis Lodge located near Toh Tuck Road has been sold collectively at $84.18 million, or $1,198 psf based on its 70,283 sq ft land area. Zoned for a three-storey mixed landed development, it has can potentially be redeveloped into 43 terrace houses or 32 semi-detached houses, subject to…

Singapore Property News This Week #89

Residential NUS SPRI: Prices of completed condos slipped 0.3% in December In December, the NUS’s Singapore Residential Price Index (SRPI) series reflected a 1.3% fall in prices in the Central Region sub-index (excluding small units) in December, a 0.5% increase in the Non-Central Region,  and no change in prices of small units (up to 506…

Singapore Property News This Week #67

Residential Foreign buyers active in the property market again After the decline in foreign buyers following the ABSD, there are signs that foreign buyers are becoming active in the property market again, with the four largest nationalities in Q2 being Malaysians (6.3%), Indonesians (4.7%), mainland Chinese (4.4%) and Indian nationals (3.0%). The largest increase came…

Singapore Property News This Week #63

Residential Busy week for developers the last week Developers had been enjoying a busy week with sales coming in. Freehold 107-unit The Line@Tanjong Rhu has also sold 15 units at an average price of $2,100 psf. 54-storey 510-unit 99-year V on Shenton has sold almost 50 units in the last week, bringing the total transacted…

Singapore Property News This Week #54

Residential Latest CBS figures reflects effective cooling measures 58.3% of the 15,410 Singaporeans/PRs granted private home mortgages (including refinancing cases) in Q1 2012 did not have any outstanding home loans either for a HDB flat or private residential property, compared to the 56.4% and 53% for the whole of 2011 and 2010 respectively. This may…

Singapore Property News This Week #50

Residential ABSD reimbursing may be a cause for concern To prevent the ABSD from affecting sales, developers have been offering discounts, rebates and even reimbursing the ABSD. This may potentially distort property and loan values and obscure transparency in the market especially since these discounts are given only after the transaction, meaning that the prices…

Singapore Property News This Week #37

Residential Strong sales at Parc Rosewood 99-year leasehold five-storey 689-unit Parc Rosewood located along Woodlands Avenue 2/Rosewood Drive had sold 165 of its 236 released units. A good 120 of them (mainly one- and two-bedroom units with a few three-bedroom units and penthouses) were sold during the first four hours of the preview launch, and…

Singapore Property News This Week #19

Residential More Singapore houses are opening up to short-term rentals A growing number of Singaporeans are catching up with the short-term home rental trend and opening up and renting their houses to strangers. The rent for a shared room in a HDB flat starts from US$15 per night and the sole use of a 2,250…