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Recent blog posts

Posted by on in Uncategorized
For anyone with the cash and inclination to live in a penthouse, now might be the time to buy.

Several property developers are offering discounts on these swanky apartments - the cream of any condominium.

With the property market slowing, developers realise that the number of buyers for these spacious units, usually on the top floor, is limited.

And with fewer expatriates with big housing allowances, rental demand is weak too.
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Posted by on in Uncategorized
Buyers are drawn to the central location, convenience and accessibility to amenities in District 11, which covers the Chancery, Bukit Timah, Dunearn Road and Newton areas.

The Newton MRT station on the North-South Line is one stop away from the Orchard Road station, right in the heart of Singapore's most famous shopping belt.
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Posted by on in Uncategorized
Gone are the days when condominium owners could each park two or three cars in the estate, and not have to pay a cent for the privilege.

With newer condominiums in land-scarce Singapore cutting back on parking spaces - many now providing just one a unit - developments are getting strict with their car-owning residents.

But the issue of parking is a potential headache not just for up-and-coming condos but for older ones too.
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Posted by on in Uncategorized
A group of Singaporeans who bought units in a Johor Bahru condominium have faced repeated construction delays, changes to the plans and confusing information about when the complex will be ready.

The developer says some of the delays stem from labour shortages and problems sourcing materials. It also says some buyers did not fully understand the terms of the contract.
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Posted by on in Uncategorized
It took just two hours for buyers to snap up half of the units for sale in a condominium in Upper Thomson Road.

the development Three 11’s 33 units out of 65 for sale were sold within two hours to eager buyers on Saturday at a preview launch. By yesterday, a total of 48 units, or 74 per cent of the development, were sold.
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Posted by on in Residential
The strata office market could see prices rise by 5 to 8 per cent as the buying momentum continues into this year.
Transaction volumes crossed a third of last year's levels in the first five months of 2013, in what is shaping up to be a year when sales volumes are unlikely to match 2012's peak.

Last year, sales of new and resale strata-titled offices reached an all-time high of $2.29 billion, 81 per cent more than the $1.27 billion in 2011. The number of deals last year - 1,059 - were more than double the 508 in 2011.
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The tender for a plum 99-year private housing site along Fernvale Close in Sengkang West has drawn nine bids, with the top bid at 9 per cent above what the next-door plot had fetched in April.

The April tender drew eight bids.
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The proportion of private housing loan applicants without any outstanding mortgages continued to rise in the first quarter of this year, according to latest figures from Credit Bureau (Singapore). This suggests that the January cooling package, with measures that discouraged multiple property ownership, is starting to bite, analysts say.
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A freehold bungalow site at 16 Tudor Close has been put on the market, and is expected to fetch in excess of $38 million.

Based on its land area of 22,534 square feet (sq ft), it will cost $1,686 per square foot (psf).?
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The proportion of private home transactions involving foreign buyers (including Singapore permanent residents, or PRs) slipped to 20.8 per cent in April, after recovering to 26.7 per cent in March.

In February, their share dived to 23.3 per cent following the seventh round of property cooling measures that took effect on Jan 12.

In January, foreigners had accounted for 28 per cent of caveats lodged for private homes purchased in Singapore.
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Buyers made a beeline for recently launched mass-market projects over the weekend.

The new projects high on the shopping list included Stratum in Pasir Ris, Whitehaven in Pasir Panjang and Corals at Keppel Bay, which were all launched or previewed last week.
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At least 50 units may have been sold at Corals at Keppel Bay yesterday, the first day of the project's preview. The developer has released about 100 of the condo's 366 units for the preview. Buyers are believed to be mostly Singaporeans.

Prices reportedly range from $1,800 psf to $3,000 psf. The development will have 11 blocks of between five and 10 storeys.
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Posted by on in Uncategorized
Home hunters will have plenty to choose from with an array of upcoming launches planned across the island.

Those keen on the city centre can focus on Corals at Keppel Bay near HarbourFront MRT station and Liv on Sophia near Dhoby Ghaut MRT station.
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Hougang is predominantly a public housing estate but the mature town is undergoing a transformation with the sprouting of private developments there in recent years.

New projects under construction are expected to add 2,319 homes to the 12,457 private properties and 496 executive condominium (EC) units there, experts said. These include recently launched projects like Boathouse Residences, Riversails, Parc Vera and the EC Heron Bay.
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A quiet corner in a Hougang neighbourhood came to life last weekend after an unusual three-storey corner terrace house was put up for sale.

There was a giant balloon in the garden. Then a swarm of property agents - 30 at one point - suddenly descended on the place. There were people pacing up and down with placards announcing a going rate of $470 per sq ft (psf).
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Posted by on in Residential
Demand for retail space in Orchard Road and suburban areas is likely to remain healthy as more international retail brands seek to establish a Singapore presence, consultants said.

Though rising business costs and a manpower crunch have put a dent in rents and occupancy rates in the short to medium term, Singapore is gaining more recognition as a global city, they added.
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Far East Organization is today launching 30 units of its 104-unit luxury condominium project, Ferra, for sale.

Prices for the 22-storey development at 1 Leonie Hill start from $2.3 million for a 732 sq ft unit, or $3,160 psf.

Unit sizes will range from 732 to 893 sq ft. There will be two additional 2,013 sq ft penthouses, but these have not yet been launched for sale.
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JTC Corporation has launched three plots of land at Tuas South Street 6 for sale by public tender.

The three sites, ranging from 0.30 to 0.45 hectare, have a lease term of 22 years each and a maximum permissible gross plot ratio of 1.0.
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In a landmark decision yesterday, Singapore's Court of Appeal has ruled that the annual value of vacant land here ought to be assessed according to full development potential, at current market prices, and not be limited by the pre-sales of any units which the developer of the land may have made.

This ruling overturns a High Court decision in February, which cut the annual land value assessed in 2007 and 2008 for The Sail@Marina Bay site from $51.4 million to $27 million - a move which would have saved the developer Glengary more than $2 million in taxes.
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Private home prices in the first quarter rose just 0.6 per cent from the previous quarter, compared with the 1.8 per cent increase in Q4 2012. However, it was the opposite story for prices of industrial, office and shop space, which spurted ahead.

Analysts say the slower pace of increase in private home prices attests to the efficacy of the January cooling package. This helped to divert investor interest to the non-residential sectors, particularly the office and retail property markets, which were left untouched by the January measures. This explains the acceleration in these segments in Q1, going by latest data from Urban Redevelopment Authority (URA).
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