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Recent blog posts
Capitaland is pricing its new condo project in Bishan lower than its earlier next-door launch, Sky Habitat. It is also minting smaller units, and a higher proportion of smaller units, in a strategy seen as keeping lumpsum prices within reach of a bigger pool of buyers.

The two 99-year leasehold projects are near Bishan MRT Station.
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The serenity of Sentosa Cove, a playground for Singapore's super rich, has been broken again by a claim of shoddy building work at a second property.

Earlier this week, the management corporation of The Coast at Sentosa Cove sued developer Ho Bee Investment and three contractors, alleging defects such as termite infestations and staircase flooding. Ho Bee denies the claim.
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The landmark Suntec City Mall reopened yesterday after completion of the first phase of a $410 million facelift that began just over a year ago.

The mall had been partially closed since June last year when owner Suntec Reit started the ambitious revamp that will eventually transform the complex 17 years after it first opened.
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The head of the property developers' body yesterday said the future shines bright with exciting possibilities, even as the property market takes its course through the cycle of business.

Speaking at the Real Estate Developers' Association of Singapore's (Redas) mid-autumn celebration, its president, Chia Boon Kuah, also said Redas planned to increase its public engagement in several areas including offering ideas to the authorities on new plans for Tanjong Pagar and Paya Lebar.
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Versailles, a 55-unit freehold condominium along Guillemard Road, has been relaunched for a collective sale by tender - with a lower price tag than before.

The owners of the four-storey, District 15 development are now asking for offers "in excess of $96 million", down from the previous $105 to $110 million asked for in April, when the property was first put up for sale.
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A consortium comprising Hoi Hup Realty, Sunway Developments and SC Wong Holdings has narrowly emerged as the top bidder of a plum, 99-year leasehold residential site at Mount Sophia. It drew as many as nine bidders, on the higher end of consultants' expectations.

The trio's bid of $442.3 million - or $1,156.53 per square foot per plot ratio (psf ppr) - was just 0.06 per cent higher than that put in by a unit of China-based developer Fantasia Holdings Group and private equity firm F&H Fund Management. They offered $442 million, or $1,155.80 psf ppr.
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The developer of The Coast at Sentosa Cove has criticised construction defect claims brought by more than 100 home owners of the oceanfront luxury development as "frivolous", and their estimates of repair costs "grossly inflated".

Ho Bee Investment, in a statement to Singapore Exchange (SGX) yesterday, said that lawyers for the Management Corporation Strata Title (MCST) sent its unit Ho Bee Cove a letter on Feb 26 demanding that it rectify defects in the common areas of the 249-unit development, which were estimated by the MCST's building expert to cost more than $2 million.
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The property market is supposed to be cooling down, following the multiple rounds of curbs - but someone obviously forgot to pass the script to local developer Frasers Centrepoint (FCL).
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The firm, a wholly owned unit of conglomerate Fraser & Neave (F&N), has raised many eyebrows with its recent aggressive bidding for land sites.
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While the volume of shophouse transactions has slowed since the Total Debt Servicing Ratio (TDSR) framework was introduced in late June, prices seem to be holding up for now.
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Based on the analysis of URA Realis caveats data as at Sept 9, the number of caveats lodged for shophouses eased from 34 in May to 22 in June and 11 in July. Only 10 caveats were lodged for shophouse purchases in August, though more caveats for last month's transactions are expected in the next few weeks.
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Private homes costing under $1 million may now draw keener interest among Singapore permanent residents (PRs) who have held their residency status for less than three years, and who are now blocked from buying HDB resale flats, property consultants say.

They added, however, that the shift to the private property segment by this group of buyers is unlikely to raise the number of private-home transactions significantly.
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Prices of small completed private apartments and condos in Singapore recovered in July after slipping for two consecutive months, latest flash estimates from the National University of Singapore (NUS) show.

Market watchers suggest the Total Debt Servicing Ratio (TDSR) framework, which took effect from June 29, could be driving buyers to the small-unit segment.
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The new housing subsidies to help first-timers buy bigger homes will cost the Government at least $150 million a year, National Development Minister Khaw Boon Wan revealed yesterday.

This raises the amount to be spent on grants for new flats from about $290 million to over $440 million a year, a sum which includes both the Additional Housing Grant and the Special Housing Grant (SHG).
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The price of larger resale flats and the number of resale deals might dip by about 10 per cent as a result of the Housing Board's latest measures, say experts.

Cash premiums paid for them could also decline, as news of the changes starts sinking in.

On Tuesday, National Development Minister Khaw Boon Wan unveiled policy changes, including tighter mortgage terms and shorter loan tenures, that aimed to encourage financial prudence and to stabilise the market.
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Developers are giving home-seekers a lot more leeway when it comes to choosing a unit following the tough lending rules that came in at the end of June.

As well as lengthening the preview periods for new launches so people have more time to decide and get their finances sorted out, some projects let some buyers reserve a unit without having to deposit a cheque.
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New rules governing permanent residents (PRs) buying HDB resale flats could send ripple effects through the markets for private homes and executive condominiums (ECs), say analysts.

As the rules announced on Tuesday make it harder for PRs to buy resale flats, they may seek mass-market condos instead.
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Heeton Holdings is said to be looking for a buyer to pick up all 30 units in its iLiv@Grange project, which is expected to receive Temporary Occupation Permit (TOP) in October.
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Talk in the market is that it is seeking $2,200-$2,300 psf for an en bloc sale of the 16-storey tower, which would work out to $129 million to $135 million based on the freehold District 10 development's total saleable area of about 58,500 sq ft.
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From lush spaces for neighbourly bonding to cycling trails for healthy living, National Development Minister Khaw Boon Wan promised that each new Housing Board project would be a cut above the rest.

"Every new town must be better than the previous one," he said as he unveiled plans for the upcoming Bidadari, Tampines North and Punggol Matilda districts yesterday.
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At least 150 property deals have hit the skids due to a sudden Housing Board policy change which requires new permanent residents (PRs) to wait three years before they can buy a resale flat.

The figure is an early estimate by property agents, who say that similar cases are streaming in, with PRs having been caught out by Tuesday night's surprise announcement, which took effect immediately.
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Office rents inched up in the second quarter - the first time they have risen from one three-month period to the next since 2011.

Net effective rents of Grade A space in the Raffles Place area eked out a 0.6 per cent increase in the quarter from the first three months of the year.
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Posted by on in Residential
A freehold hotel development site at Lavender has been put up for sale with a guide price of about $28 million to $30 million.

The "regularly shaped" plot has an area of about 3,516 square feet and an allowable plot ratio of three. The site has been granted provisional permission for the development of a six-storey hotel comprising 60 rooms.
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