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Recent blog posts

Posted by on in Residential
From being more of a residential area with private housing and condominiums, Novena has transformed into a medical hub in the past few years.

And with the private medical centres and malls that have sprouted up near the Tan Tock Seng Hospital (TTSH), which has been there since 1909, and Novena MRT station, business is booming.
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Posted by on in Residential
Shoppers in the north-east will have one more thing to celebrate at Christmas time next year.

The new Seletar Mall will open by December next year, in time for the festive season, said developers Singapore Press Holdings and United Engineers yesterday.
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Posted by on in Uncategorized
Roxy-pacific Holdings began sales at its Jade Residences condo in the Lorong Lew Lian area yesterday, and had moved close to 60 units by 6pm.

Located about 400 metres from Serangoon MRT Station, the five-storey freehold development will have 171 apartments and two shop units. As of yesterday, the group had released 80 apartments and the average price after discounts (inclusive of a 3 per cent early bird discount) works out to $1,416 per square foot (psf), Roxy-Pacific executive chairman Teo Hong Lim told The Business Times.
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Posted by on in Residential
New projects usually debut with a bang, but few last year have been completely sold out.

A Straits Times check of the private homes and executive condominium (EC) projects launched since January last year shows that most are above 90 per cent sold.
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News that the Spring Grove condominium in Grange Road could undergo a $1.045 billion collective sale has put the spotlight on other residential blocks in the same street.

The high-end sector has been down in the dumps for months, so the prospect of a big payday for Spring Grove owners has raised eyebrows among property experts.
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Posted by on in Uncategorized
Several upcoming property launches will feature mixed developments rather than being purely residential, a sign of changing lifestyles.

Younger people now want homes near shops, and developers are responding, say real estate agents.
This could mark a shift from the first three months of the year, when purely residential projects drew a strong response when they were launched.
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Cash premiums that buyers pay for Housing Board flats have fallen in the first three months of this year, on the back of a lower volume of transactions.

The largest drop came from areas such as Punggol, Tampines and Pasir Ris, where the premiums went down by 21 per cent, 13 per cent and 12 per cent respectively.
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A key indicator of private home prices is being reviewed to ensure that it continues to accurately reflect values in Singapore.

The study, which The Straits Times understands began last year, could involve revising the way the Urban Redevelopment Authority's (URA) quarterly index is computed. It is believed that no concrete decisions have yet been made to overhaul the methodology.
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The office leasing market in the Central Business District (CBD) slowed slightly in the first quarter of this year.

Average gross monthly rents for both Premium and Grade A office spaces dipped 0.7 per cent from the previous quarter to $8.41 psf.
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Resales and subsales of strata retail units in the past couple of years have been predominantly profitable.

Those who buy and then sell such properties have largely ridden on a crest created by price appreciation amid strong demand from investors and speculators flush with liquidity and put off by the cooling measures imposed on the residential sector.
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The proportion of strata retail units changing hands within three years in the resale market is on the rise - pointing to increased speculation in the sector.

Similarly, the proportion of resale deals involving units bought less than a year earlier is also up, according to analysis of URA Realis caveats data. Correspondingly, the average holding period in resale transactions has fallen.
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Posted by on in Residential
Empty shop spaces greet shoppers at Thomson V, a mixed development in Upper Thomson.
Only 25 of the strata-titled development's 78 retail spaces were occupied yesterday, even though it opened in the middle of last year, a check by The Straits Times found.

Tenants spoke of dismal trade and poor traffic. So far, at least seven - including dessert shops My Garden Cafe and The Ice Shop, as well as salon Ez Cut - have shut.
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The government is moving to prevent a proliferation of small units at malls that may not serve their intended purpose and can cause disamenities, but said that this should not be read as an attempt to cool the strata retail market.

The Urban Redevelopment Authority (URA) yesterday introduced a minimum average size for retail units of 50 square metres (538 square feet) that takes effect today. This is comparable to a typical Housing and Development Board shop unit.
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Kismis Lodge, a development comprising a pair of freehold, walk-up apartments near Toh Tuck Road, has been sold through a collective sale to a consortium of private investors.

Newfort Alliance (Cairnhill) paid $84.18 million, slightly under the $90 million the mixed landed site was expected to fetch when it was put up for sale earlier this year.
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The seventh and eighth floors of One Sims Lane have been put up for sale by expressions of interest.
One Sims Lane is a freehold Business 1 zoned development. The eight-storey building is located along Lorong 23 Geylang off Sims Avenue.
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Older Singaporeans who want to age in place, or live near their children, will get more priority under a new scheme for studio apartments.

From May's Build-to-Order (BTO) exercise onwards, half the supply will be reserved for seniors applying for a studio apartment near their current flat, or near where their children live.
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Home prices are determined by the market and heavily influenced by sentiment, and everyone plays a part in keeping the market in check, National Development Minister Khaw Boon Wan stressed yesterday.

He said that efforts to tame the market, which has seen prices surge more than 50 per cent since the start of 2009, are "a collective exercise". "Nobody wants the property market to continue to escalate, building up a possible bubble. I think nobody will benefit... All of us are in the same boat together; we want to calm down the property market," he said.
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Posted by on in Uncategorized
City fringe rental yields have softened but landlords in areas like Balestier, Thomson and Outram are still reaping good returns.
These areas are home to many shoebox apartments, which are popular with tenants looking for a more affordable place to live in.

This has resulted in rental yields of around 5 per cent, while overall yields for city fringe homes dipped to 3.6 per cent in the fourth quarter of last year - down from 3.8 per cent at the start of that year.
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Posted by on in Uncategorized
Average resale prices for suburban condominiums exceeded $1,000 psf last month, the first time they have passed what for many buyers is a daunting level.

Prices rose 5.1 per cent to a record $1,046 psf in February compared with January, said the Singapore Real Estate Exchange (SRX) yesterday.
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Posted by on in Uncategorized
A spate of new developments in Tanah Merah has turned the area into a popular hunting ground for buyers. There have been three new projects in the past years, with developers focusing on the site surrounding the MRT station.

Tanah Merah's housing stock received a major boost in 2009 when Casa Merah, a 556-unit condominium jointly developed by NTUC Choice Homes and Wing Tai Holdings, was completed.
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