Archive for July 25th, 2008
Posted by luxuryasiahome on July 25, 2008
Urban Redevelopment Authority’s private home price index increased 0.2 per cent in second quarter 2008 over the preceding quarter, slower than the 3.7 per cent quarter-on-quarter increase posted in Q1 2008.
The official price index for offices increased 0.7 per cent quarter-on-quarter in Q2 2008 while shop and industrial property prices posted gains of 0.7 per cent and 4.1 per cent respectively.
URA also said that rentals of private residential, office, shop and industrial properties increased by 2.5 per cent, 6.3 per cent, 5.2 per cent and 2.3 per cent respectively in Q2 2008 over Q1 2008.
‘The rates of increase in the prices and rentals of private residential and office properties have moderated in Q2 2008 as compared to Q1 2008.
While the rate of increase in the prices of shop properties has also moderated in the Q2 2008, the rate of increase in the rentals of such properties has increased in the period as compared to Q1 2008.
For industrial properties, prices have increased at a faster pace in Q2 2008, while increase in rentals moderated in the period as compared to Q1 2008,’ URA said.
Source : Business Times – 25 Jul 2008
Posted in General, Market Reports | Tagged: Singapore Property, Singapore Property Market, Singapore Property Prices | Leave a Comment »
Posted by luxuryasiahome on July 25, 2008
Urban Redevelopment Authority’s private home price index increased 0.2 per cent in second quarter 2008 over the preceding quarter, slower than the 3.7 per cent quarter-on-quarter increase posted in Q1 2008.
The official price index for offices increased 0.7 per cent quarter-on-quarter in Q2 2008 while shop and industrial property prices posted gains of 0.7 per cent and 4.1 per cent respectively.
URA also said that rentals of private residential, office, shop and industrial properties increased by 2.5 per cent, 6.3 per cent, 5.2 per cent and 2.3 per cent respectively in Q2 2008 over Q1 2008.
‘The rates of increase in the prices and rentals of private residential and office properties have moderated in Q2 2008 as compared to Q1 2008.
While the rate of increase in the prices of shop properties has also moderated in the Q2 2008, the rate of increase in the rentals of such properties has increased in the period as compared to Q1 2008.
For industrial properties, prices have increased at a faster pace in Q2 2008, while increase in rentals moderated in the period as compared to Q1 2008,’ URA said.
Source : Business Times – 25 Jul 2008
Posted in General, Market Reports | Tagged: Singapore Property, Singapore Property Market, Singapore Property Prices | Leave a Comment »
Posted by luxuryasiahome on July 25, 2008
Housing & Development Board’s resale flat price index increased 4.5 per cent in Q2 2008 over the previous quarter, higher than the 3.7 per cent gain in Q1 2008.
Resale transactions increased by about 22 per cent, from about 6,360 cases in Q1 2008 to about 7,760 cases in Q2 2008.
The median cash-over-valuation (COV) amount of all resale transactions in Q2 2008 was $20,000, a slight dip compared with the COV of $21,000 in Q1 2008.
Source : Business Times – 25 Jul 2008
Posted in General, HDB News | Tagged: HDB, HDB News, HDB Prices, HDB Resale Flats | Leave a Comment »
Posted by luxuryasiahome on July 25, 2008
Housing & Development Board’s resale flat price index increased 4.5 per cent in Q2 2008 over the previous quarter, higher than the 3.7 per cent gain in Q1 2008.
Resale transactions increased by about 22 per cent, from about 6,360 cases in Q1 2008 to about 7,760 cases in Q2 2008.
The median cash-over-valuation (COV) amount of all resale transactions in Q2 2008 was $20,000, a slight dip compared with the COV of $21,000 in Q1 2008.
Source : Business Times – 25 Jul 2008
Posted in General, HDB News | Tagged: HDB, HDB News, HDB Prices, HDB Resale Flats | Leave a Comment »
Posted by luxuryasiahome on July 25, 2008
Ankerite Pte Ltd, the entity that purchased Gillman Heights Condominium, has filed a cross-appeal to the Court of Appeal.
Previously, the High Court has dismissed an appeal by minority owners of Gillman Heights to stop the $548 million (US$402 million) sale of the development to CapitaLand, Hotel Properties and two private funds.
The Strata Titles Board (STB) had approved the collective sale of the 607-unit, 99-year leasehold estate late last year. But a group of minority owners, had appealed that decision.
Ankerite, an indirect associated company of Capitaland, is 50 per cent owned by CRL Realty, with the balance shareholding held by HPL Orchard Place and two private funds.
Capitaland said yesterday that further details will be announced in due course.
The STB had approved the collective sale of the 607-unit, 99-year leasehold estate late last year.
Source : Business Times – 25 Jul 2008
Posted in Enbloc, General | Tagged: Ankerite, Collective Sales, Enbloc, Gilman Heights | Leave a Comment »
Posted by luxuryasiahome on July 25, 2008
Sanitary-ware distributors, Sim Siang Choon Ltd, said on Friday that it has entered into a binding Memorandum of Understanding (MOU) on Thursday with Empire Holdings Ltd to buy Chase Perdana.
Empire is the controlling shareholder of Chase Perdana Chase, which is currently engaged in diversified operations in the property development and investment, financial services and civil engineering sectors.
Sim Siang Choon will pay S$5 million cash as initial deposit for the purchase. It will also issue Sim Siang Choon shares at S$0.22 each, amounting to the net tangible assets or a value 8 times the net profit of Chase on Dec 31, 2008, whichever is higher, less the deposit.
Empire will restructure Chase before the transaction, after which Chase will only hold its construction business and possibly some property development and investment operations.
Some of Chase’s projects include the development of 81 acres of industrial and commercial land in Alor Gajah, Melaka and the construction of an apartment block known as Seasons Square in Damansara Perdana, Kuala Lumpur; as well as the construction of a 33-storey twin tower building for the National Hotels Company in Bahrain.
Source : Business Times – 25 Jul 2008
Posted in General | Tagged: Chase Perdana, Empire Holdings, Sim Siang Choon | Leave a Comment »
Posted by luxuryasiahome on July 25, 2008
Parkway Life Real Estate Investment Trust (P-Reit) on Friday said that its distributable income for Q208 came to $10.0 million (US$7.3 million), exceeding the forecast of $9.4 million by 6.4 per cent.
Distribution per unit (DPU) for the three months ended June 30, 2008 was 1.66 cents. This was also 6.4 per cent higher than the forecast DPU of 1.56 cents.
There is no comparable period for 2007 as P-Reit was only listed on the Singapore Exchange in August last year.
Looking ahead, P-Reit said that the private healthcare sector remains robust even in the current volatile market conditions. The trust should enjoy strong growth and see attractive asset acquisition opportunities, it said.
Source : Business Times – 25 Jul 2008
Posted in General, REITS | Tagged: P-Reit, Parkway Life Real Estate Investment Trust, Parkway Life Reit, REITS, Singapore REITS | Leave a Comment »
Posted by luxuryasiahome on July 25, 2008
Prices for public housing on the resale market have risen, while those for private property have moderated for the second quarter of 2008.
According to latest official figures, there has also been little upward movement in the private property rental market.
Data for the HDB resale and rental markets based on transactions in Q2 saw HDB’s Resale Price Index (RPI) up 4.5 per cent, compared to the 3.7 per cent increase for the previous quarter.
Reflective of the interest in public housing was the rise in resale transactions, from about 6,360 cases in the first quarter to about 7,760 cases in the second quarter, an increase by about 22 per cent.
Meanwhile, subletting transactions in HDB flats increased by about 15 per cent to about 4,120 cases in the second quarter from about 3,580 cases in the first quarter.
In contrast, the private property market was a little more subdued, with home prices increasing 0.2 per cent, the third straight quarter of slower growth, signalling a definite slowing of the four-year housing boom.
Prices for non-landed properties saw a modest 0.1 per cent rise compared with 3.7 per cent in the previous quarter as prices for condominium and apartments in districts 9, 10, 11, downtown district and Sentosa fell 0.1 per cent compared to similar properties in areas outside of the region which rose between 0.7 and 0.9 per cent.
As for landed property, prices rose 0.6 per cent compared with 3.9 per cent in the previous quarter.
Indicative of the cooling in the property market are the 43,473 new units still unsold from a total supply of 67,569 uncompleted units from private housing projects.
This number includes more than 12,000 which developers have held back from launch and another 28,282 which are pending approval.
Source : Channel NewsAsia – 25 Jul 2008
Posted in General, HDB News, Market Reports | Tagged: HDB, HDB News, HDB Prices, Private Homes, Private Property, Public Housing, Singapore Property, Singapore Property Market, Singapore Property Prices | 1 Comment »
Posted by luxuryasiahome on July 25, 2008
Singapore’s Gardens by the Bay project is on track for completion by the end of 2010.
National Development Minister Mah Bow Tan said the project is unaffected by the government’s recent decision to defer S$1.7 billion worth of public-sector building projects – a move meant to ease the pressure on the construction industry in Singapore.
Mr Mah was speaking to the media at the official opening of the Singapore Garden Festival on Friday at the Suntec International Convention and Exhibition Centre.
One of the key highlights of the Singapore Garden Festival is the much-anticipated Singapore Orchid Show, which is jointly organised by the Orchid Society of Southeast Asia and the National Parks Board (NParks).
The exhibition – a teaser for the World Orchid Conference in 2011 – covers 3,000 square metres, with over 8,000 cut orchids and some 10,000 orchid plants on display.
Singapore’s Gardens by the Bay project is expected to be completed by the time the conference is held.
“The Marina Bay Gardens work has already started, so it is not possible to defer it. It is something that we would like to complete around 2010, 2011 because this is part of our longer term plans to develop the Marina Bay area, so it forms an important part of the Marina Bay development,” said Mr Mah.
Future garden festivals will be held at the Gardens by the Bay. But for now, visitors can visit this year’s festival at Suntec till August 1.
Source : Channel NewsAsia – 25 Jul 2008
Posted in Construction, General, Marina Bay / CBD | Tagged: Construction, Gardens by the Bay, marina bay, Marina Bay Gardens | 1 Comment »
Posted by luxuryasiahome on July 25, 2008
A “Sentosa Gateway Tunnel” is set to be built so that motorists can circumvent the busy traffic in the Harbourfront area to get into town.
The Land Transport Authority (LTA) said the tunnel will connect outbound traffic from Sentosa island directly to Kampong Bahru Road and Keppel Road.
It is part of plans to improve the road infrastructure to meet future demands of development in that area, which will also include Resorts World, due to open in 2010.
Source : Channel NewsAsia – 25 Jul 2008
Posted in General, Sentosa Property | Tagged: Sentosa, Sentosa Gateway Tunnel | Leave a Comment »
