‘Old money’ props rise in luxury home sales
Prices hold firm surprisingly; investment climate may have stabilised, analysts say Developer sales of new homes jumped to 441 units in May from 284 units in April, with some property consultants already calling it a ‘sharp rebound’. While May sales were still relatively low compared to 2007 levels, several launches in prime and city-fringe locations … Read more
New private home sales up 55%
Highest monthly figure so far this year follows softening of prices, surge in total units launched SINGAPORE’S private residential property market has started showing some signs of life after several months in the doldrums, thanks in part to an easing of prices. Last month, developers sold 441 new homes, excluding executive condominiums, a sharp 55 … Read more
One North: A place to dine, drink and rock
The 5,000-seat entertainment centre to come up at one-north will be a world-class venue for big performances, writes CLARISSA TAN FIVE thousand people yelling their heads off. Fists pumping the air. There will be a lot to shout about when Singapore gets another large entertainment centre in 2011, and concert and theatre fans troop in … Read more
4 Ascott projects opened this month
THE Ascott Group said yesterday that it opened four new serviced residence projects – one each in Australia, Vietnam, Thailand and Qatar – in the first two weeks of June. The properties are Somerset St Georges Terrace in Perth, Somerset Hoa Binh in Hanoi, Citadines Sukhumvit 8 in Bangkok, and Somerset West Bay in Doha. … Read more
NY skyscrapers may go to foreign investors
The weak US dollar has made the landmarks attractive to overseas buyers The iconic Chrysler and Flatiron skycrapers may soon join New York’s GM Building as landmarks sold in part to Arab or European investors as the weak US dollar spurs property grabs in the Big Apple, reports said last Friday. On the block: The … Read more
Dismal private property sales despite lower prices
PRIVATE property sales by developers remained weak last month, with 441 units sold. That may be up 55 per cent from the 284 units sold in April, but over 3,000 new units remained unsold. That was despite developers cutting their prices for homes in 18 developments last month. Median prices for The Verve along Jalan … Read more
Phoenix Park draws ‘arts village’ bid
But $165,000 bid way below top bid of $368,888 A SINGAPORE Land Authority tender for the former Ministry of Home Affairs complex off Tanglin Road has attracted 11 bids, one of which is a proposal for an ‘arts village’. The so-called ‘creative commune’ proposal – submitted by the Spa Esprit Group – is meant to … Read more
Strong home sales lift demand for property issues
PROPERTY counters rebounded yesterday following the positive news about private home sales – and took warrants on the shares along in their wake. Sales hit 441 units last month, up 55 per cent from the 284 in April, as buyers took advantage of easing prices. Last Friday, CapitaLand was down about 8 per cent for … Read more
Subletting illegally not right way to help
I REFER to the letter by Ms Subha Rajaiya, ‘Don’t penalise desperate ones who sublet illegally’ (June 7). HDB rental flats are heavily subsidised and meant as a last resort for low-income and needy families without other housing option. Illegal subletting of these flats is an abuse of government subsidies meant to help such households. … Read more
Valuation the culprit in artificially inflating HDB flat prices
OVER the past 18 to 24 months, HDB resale property prices have shot through the roof and many lower-income families have been priced out of the market. Although this is partly driven by the shortage of HDB flats and increased demand, what is not apparent to many people is the manner in which valuations have … Read more
