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Thread: Buyers snapping up homes in suburbs as luxury condo prices continue to climb

  1. #1
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    May 2006
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    Default Buyers snapping up homes in suburbs as luxury condo prices continue to climb

    Weekend, June 30, 2007

    Catching up with the Joneses

    Buyers snapping up homes in suburbs as luxury condo prices continue to climb

    Joseph yadao
    [email protected]


    The suburban residential market is finally catching up with the verve of the high-end luxury market, according to a report by real estate specialists CB Richard Ellis.

    "The strong take-up recorded for suburban projects is in part due to the limited supply of new homes within the price range of $600psf and $800psf," said Mr Joseph Tan, CB Richard Ellis' executive director (residential). "Most new launches in the past 12 months have been high-end projects."

    While luxury projects continued to break price records for the second quarter of the year, three major projects in the suburban areas sold out within weeks of their launch.

    The first batch of units at the 99-year leasehold, 556-unit Casa Merah near Tanah Merah MRT station averaged $590psf when it was launched in April. But these prices quickly rose to an average of $700psf, reflecting the demand for these units.

    The 140 units at Northwood in Jalan Mata Ayer sold for an average price of $620psf while over at Woodleigh Close, Parc Mondrian's 100 units averaged $680psf amid brisk sales.

    Prices of mid-tier projects climbed as well, with The Seafront On Meyer and Wing Tai's Riverine By The Park being offered to the primary market at prices between $1,400psf and $1,500psf.

    Keppel Land's Reflections at Keppel Bay set a new benchmark price for the Telok Blangah area with its launch price of $1,900psf.

    Speculation on the property market has also resulted in a jump in the sub-sale market, with CB Richard Ellis expecting the sub-sale market to hit over 4,000 transactions by the end of the second quarter. This will be a slight increase over the 3,866 sales registered in the first quarter.

    This hike, according to the property specialist, is because of the increase in the number of sub-sales of popular projects as well as a jump in collective sale numbers, resulting in an influx of buyers looking for replacement properties.

    "Moving on to the third quarter, we expect the current positive sentiment to continue," Mr Tan said.

    "The take-up of new homes is likely to exceed 3,000 units while home prices may continue to head up by another 3 per cent to 5 per cent in the next quarter," he added.

    Awaiting this next batch of homebuyers in the next quarter will be developers with a variety of offerings to cater to these diverse tastes.

    CB Richard Ellis expects Hilltops, Scotts Square and the 99-year leasehold condominium at the Marina Collection on Sentosa Cove to be launched for the high-end segment.

    For the prime and mid-tier segment, there is the expected launch of the 99-year leasehold condominium project on Sinaran Drive and the developments on the sites of the former Dragon View Park and Eastern Mansion.

    The suburban projects are also getting in on the act, with the possibility of the Versilia On Haig and the development on the former site of Westpeak in West Coast Walk being put on the market.

  2. #2
    J Wong
    Guest

    Default More Expats Buying Homes As Rents Jump 35% In First Half: Analysts

    Jeana Wong
    Channel NewsAsia
    9 July 2007 2126 hrs

    Rising rentals in Singapore have led to more expatriates buying properties here.

    Property market watchers say a growing number of foreign executives are choosing to trade off living in upscale locations for bigger properties outside the city area and home ownership.

    According to some calculations, average rents in Singapore went up by 35% in the first 6 months of this year over the same period last year.

    This is causing expatriates to move to cheaper districts.

    And anecdotal evidence is suggesting that of late, more are thinking of buying their flats.

    Nicholas Mak, Consultancy and Research Director, Knight Frank, said: "Another group of expatriate tenants are actually considering buying properties - either buying the apartments they are renting, ... or considering asking for their rental package - their housing accommodation package - to be paid as a lump sum so that they can use that to purchase a home, maybe even a landed property."

    Flats in prime districts now rent for an average of S$3.26 per square foot a month, while those just outside of the central areas are letting for $2.30 per square foot a month.

    The districts of 9, 10 and 11 may be rental hotspots for most higher-end expats.

    But analysts say those seeking to buy tend to go for the upper-mid level properties between 15 to 20 years old in outlying areas like Clementi, Toh Tuck and even Loyang and Pasir Ris.

    Such expats, some of whom are permanent residents, typically have a budget of just over a million dollars.

    Donald Han, Managing Director, Cushman and Wakefield, said: "We've actually started to see out of 10 expatriates that we serve, at least one will be looking into either leasing or potentially even buying. And quite a fair bit of those will ultimately decide to purchase rather than lease. Typically they'll look into the fringe of Districts 9, 10, and 11.

    "They will look into properties which are not the top end, more into the upper-mid level, potentially within the S$800 to as much as S$1,200 psf. And the units could be of the size of one- to two-bedroom kind of apartments. For landed property, typically perhaps a District 21, landed terrace houses which might go in the region of a million to S$1.2 million."

    Property market watchers say the upward pressure on rental prices is unlikely to let up over the next 12 months.

    Mr Mak said: "Private home rentals are still going to face a lot of upward pressure for the rest of this year and probably for the first half of next year. This year alone, we could easily see average rentals go up by anywhere from 15% to even as much as 25%."

    Mr Han said: "Rental will continue to rise by virtue that it's really a landlord's market. I suspect rental in the next 12 months will probably continue to rise between the range of about 20% to 25% from current levels."

    This comes as demand continues to grow and collective sales aggravate the already limited supply available.

  3. #3
    香 港
    Guest

    Default 二手樓業主提價封盤 & 港股漲769破三關

    二手樓業主提價封盤
    28/02/2008

    昨 日 公 布 的 財 政 預 算 案 , 有 多 項 利 好 樓 市 消 息 , 部 分 業 主 「 打 鐵 趁 熱 」 , 即 日提價、封 盤 , 紅 磡 半 島 豪 庭 有 放 盤 單 位 業 主 , 在 預 算 案 後 加 價 100 萬 至 700 萬 元 ,與此同 時, 有 買 家 伺 機 入 市 , 東 涌 藍 天 海 岸 水 藍 天 及 西 半 山 嘉 和 苑 即 時 錄 得 成 交 ,沙田第 一 城投 資 者 問 盤 量 較 之 前 增 加 25%。

    水 藍 天 雙 號 屋 1720 萬 易 手
    香 港 置 業 稱 , 半 島 豪 庭 2 座 高 層 C 室 , 業主 在 預 算 案 後 調 高 叫 價 17% 至 700 萬元, 同區 黃 埔 花 園 個 別 放 盤 單 位 , 也 提 價 10% 至 30% , 奧 運 站 柏 景 灣 8 座 低 層 G 室,業 主 更決 定 封 盤 。 該 行 稱 , 昨 日 天 水 圍 嘉 湖山 莊 、 鴨 洲 海 怡 半 島 及 茶 果 嶺 麗 港 城放 盤單 位 叫價 均 升 5% ; 美 聯 ( 1200 ) 稱 , 大 圍 區 個 別 放 盤 叫 價 增 約 3% 。

    部 分 買 家 為 免 「 遲 買 會 貴 」 , 於 預 算 案 公 布 後 入 市 。 利 嘉 閣 稱 , 藍 天 海 岸 水藍天 雙號屋 , 昨 日 以 1,720 萬 元 易 手 。 美 聯 稱 , 嘉 和 苑 中 層 B 室 , 於 預 算 案 後 以 1,280 萬元售 出 ; 屯 門 時 代 廣 場 B 座 高 層 7 室 , 以 呎 價 2,891 元 轉 售 , 高 市 價 10% 。

    利 嘉 閣 昨 日 訪 問 402 名 市 民 , 指 入 市 意 欲 上 升 佔 56% , 較 上 次 同 類 調 查 高 12 個 百分點 ; 美 聯 稱 , 沙 田 第 一 城 問 盤 較 之 前 增 25% , 料 該 盤 及 東 區 太 古 城 本 周 末 睇樓量將 上升 。 中 原 料 中 原 城 市 領 先 指 數 下 月 將 進 一 步 攀 升 。

    發 展 商 普 遍 認 為 預 算 案 有 利 樓 市 , 長 實 ( 0001 ) 料 減 稅 及 寬 免 差 餉 可 刺 激 樓 價 較 原 先 預 期 高 5% , 豪 宅 及 整 體 樓 價 今 年 料 升 25% 及 20%。

    代 理 則 認 為 , 收 租 業 主 最 受 惠 , 並 相 信 騰 出 灣 仔 3 幢 政 府 物 業 地 皮 有 助 紓 緩核心 區 甲級 商 廈 供 應 緊 張 情 況 。 釐 印 費 未 調 減 , 地 ( 0012 ) 營 業 部 總 經 理 謝 偉 銓略感 失 望 ,但 整 份 預 算 案 仍 利 好 樓 市 及 經 濟 。


    港股漲769破三關
    28/02/2008

    港 府 「 派 糖 」 適 逢 外 圍 股 市 顯 著 做 好 , 好 友 乘 勢 於 期 指 結 算 前 夕 大 反 攻 , 除 豐控 股( 0005 ) 及 中 資 金 融 股 外 , 部 分 受 惠 預 算 案 的 股 份 顯 著 做 好 , 包 括 地 產 股 、 酒店股 及零 售 股 , 當 中 地 產 股 更 是 好 友 反 攻 利 器 。

    對 於 財 政 司 司 長 在 新 一 年 度 財 政 預 算 案 當 中 , 大 幅 增 加 ○ 八 / ○ 九 年 度 勾 地表土 地數目 至 62 幅 , 中 銀 國 際 分 析 員 何 柱 認 為 , 無 助 紓 緩 今 、 明 兩 年 緊 絀 的 供 應 ,因為有 關 項目 最 快 要 到 二 ○ 一 ○ 年 才 「 出 籠 」 , 在 美 息 持 續 向 下 及 本 港 高 通 脹 情 況下,料 中 、 小型 住 宅 樓 價 今 年 上 升 20% 至 25% , 豪 宅 更 可 上 升 30% 至 35% , 所 以 地產股前 景 仍 然 看好 , 三 月 中 減 息 前 尚 有 上 升 空 間 。

    新 樓 渴 市   地 產 股 看 俏
    瑞 銀 亞 洲 地 產 聯 席 董 事 王 震 宇 認 為 , 無 論 政府 增 加 多 少 幅 土 地 , 若 維 持 高 地 價政策 ,不 放 寬 發 展 商 的 勾 地 價 , 只 會 令 本 港 住 宅供 求 繼 續 失 衡 。 他 又 說 , 現 時 外 圍經 濟環 境與 九 十 年 代 相 若 , 如 美 國 經 濟 衰 退 , 需要 持 續 減 息 , 但 現 時 本 港 內 需 強 勁, 內 地經 濟仍 然 向 好 , 情 況 比 當 年 更 佳 , 今 、 明兩 年 樓 價 或 有 機 會 超 過 升 50% 預 測, 地 產 股今 年續 有 雙 位 數 字 上 升 。

    摩 根 士 丹 利 亞 太 區 主 席 兼 署 理 行 政 總 裁 羅 奇 表 示 , 美 國 聯 儲 局 將 於 下 月 減 息四分 之一至 半 厘 , 但 減 稅 及 減 息 不 可 以 挽 救 經 濟 , 預 期 美 國 經 濟 將 經 歷 3 至 5 季 衰退, 現時 通脹 處 低 水 平 , 不 擔 心 會 有 滯 脹 問 題 。 他 又 認 為 , 亞 太 區 股 市 長 線 仍 處 牛市, 個別 市 場下 跌 20% 至 30% , 但 整 體 仍 有 15% 至 20% 升 幅 , 例 如 A 股 及 H 股 。

  4. #4
    Unregistered
    Guest

    Default Re: 二手樓業主提價封盤 & 港股漲769破三關

    Quote Originally Posted by 香 港
    二手樓業主提價封盤
    28/02/2008

    昨 日 公 布 的 財 政 預 算 案 , 有 多 項 利 好 樓 市 消 息 , 部 分 業 主 「 打 鐵 趁 熱 」 , 即 日提價、封 盤 , 紅 磡 半 島 豪 庭 有 放 盤 單 位 業 主 , 在 預 算 案 後 加 價 100 萬 至 700 萬 元 ,與此同 時, 有 買 家 伺 機 入 市 , 東 涌 藍 天 海 岸 水 藍 天 及 西 半 山 嘉 和 苑 即 時 錄 得 成 交 ,沙田第 一 城投 資 者 問 盤 量 較 之 前 增 加 25%。

    水 藍 天 雙 號 屋 1720 萬 易 手
    香 港 置 業 稱 , 半 島 豪 庭 2 座 高 層 C 室 , 業主 在 預 算 案 後 調 高 叫 價 17% 至 700 萬元, 同區 黃 埔 花 園 個 別 放 盤 單 位 , 也 提 價 10% 至 30% , 奧 運 站 柏 景 灣 8 座 低 層 G 室,業 主 更決 定 封 盤 。 該 行 稱 , 昨 日 天 水 圍 嘉 湖山 莊 、 鴨 洲 海 怡 半 島 及 茶 果 嶺 麗 港 城放 盤單 位 叫價 均 升 5% ; 美 聯 ( 1200 ) 稱 , 大 圍 區 個 別 放 盤 叫 價 增 約 3% 。

    部 分 買 家 為 免 「 遲 買 會 貴 」 , 於 預 算 案 公 布 後 入 市 。 利 嘉 閣 稱 , 藍 天 海 岸 水藍天 雙號屋 , 昨 日 以 1,720 萬 元 易 手 。 美 聯 稱 , 嘉 和 苑 中 層 B 室 , 於 預 算 案 後 以 1,280 萬元售 出 ; 屯 門 時 代 廣 場 B 座 高 層 7 室 , 以 呎 價 2,891 元 轉 售 , 高 市 價 10% 。

    利 嘉 閣 昨 日 訪 問 402 名 市 民 , 指 入 市 意 欲 上 升 佔 56% , 較 上 次 同 類 調 查 高 12 個 百分點 ; 美 聯 稱 , 沙 田 第 一 城 問 盤 較 之 前 增 25% , 料 該 盤 及 東 區 太 古 城 本 周 末 睇樓量將 上升 。 中 原 料 中 原 城 市 領 先 指 數 下 月 將 進 一 步 攀 升 。

    發 展 商 普 遍 認 為 預 算 案 有 利 樓 市 , 長 實 ( 0001 ) 料 減 稅 及 寬 免 差 餉 可 刺 激 樓 價 較 原 先 預 期 高 5% , 豪 宅 及 整 體 樓 價 今 年 料 升 25% 及 20%。

    代 理 則 認 為 , 收 租 業 主 最 受 惠 , 並 相 信 騰 出 灣 仔 3 幢 政 府 物 業 地 皮 有 助 紓 緩核心 區 甲級 商 廈 供 應 緊 張 情 況 。 釐 印 費 未 調 減 , 地 ( 0012 ) 營 業 部 總 經 理 謝 偉 銓略感 失 望 ,但 整 份 預 算 案 仍 利 好 樓 市 及 經 濟 。


    港股漲769破三關
    28/02/2008

    港 府 「 派 糖 」 適 逢 外 圍 股 市 顯 著 做 好 , 好 友 乘 勢 於 期 指 結 算 前 夕 大 反 攻 , 除 豐控 股( 0005 ) 及 中 資 金 融 股 外 , 部 分 受 惠 預 算 案 的 股 份 顯 著 做 好 , 包 括 地 產 股 、 酒店股 及零 售 股 , 當 中 地 產 股 更 是 好 友 反 攻 利 器 。

    對 於 財 政 司 司 長 在 新 一 年 度 財 政 預 算 案 當 中 , 大 幅 增 加 ○ 八 / ○ 九 年 度 勾 地表土 地數目 至 62 幅 , 中 銀 國 際 分 析 員 何 柱 認 為 , 無 助 紓 緩 今 、 明 兩 年 緊 絀 的 供 應 ,因為有 關 項目 最 快 要 到 二 ○ 一 ○ 年 才 「 出 籠 」 , 在 美 息 持 續 向 下 及 本 港 高 通 脹 情 況下,料 中 、 小型 住 宅 樓 價 今 年 上 升 20% 至 25% , 豪 宅 更 可 上 升 30% 至 35% , 所 以 地產股前 景 仍 然 看好 , 三 月 中 減 息 前 尚 有 上 升 空 間 。

    新 樓 渴 市   地 產 股 看 俏
    瑞 銀 亞 洲 地 產 聯 席 董 事 王 震 宇 認 為 , 無 論 政府 增 加 多 少 幅 土 地 , 若 維 持 高 地 價政策 ,不 放 寬 發 展 商 的 勾 地 價 , 只 會 令 本 港 住 宅供 求 繼 續 失 衡 。 他 又 說 , 現 時 外 圍經 濟環 境與 九 十 年 代 相 若 , 如 美 國 經 濟 衰 退 , 需要 持 續 減 息 , 但 現 時 本 港 內 需 強 勁, 內 地經 濟仍 然 向 好 , 情 況 比 當 年 更 佳 , 今 、 明兩 年 樓 價 或 有 機 會 超 過 升 50% 預 測, 地 產 股今 年續 有 雙 位 數 字 上 升 。

    摩 根 士 丹 利 亞 太 區 主 席 兼 署 理 行 政 總 裁 羅 奇 表 示 , 美 國 聯 儲 局 將 於 下 月 減 息四分 之一至 半 厘 , 但 減 稅 及 減 息 不 可 以 挽 救 經 濟 , 預 期 美 國 經 濟 將 經 歷 3 至 5 季 衰退, 現時 通脹 處 低 水 平 , 不 擔 心 會 有 滯 脹 問 題 。 他 又 認 為 , 亞 太 區 股 市 長 線 仍 處 牛市, 個別 市 場下 跌 20% 至 30% , 但 整 體 仍 有 15% 至 20% 升 幅 , 例 如 A 股 及 H 股 。
    Look at HK, property price up & transaction surge recently.
    We always follow HK in stock & property market.

  5. #5
    Unregistered
    Guest

    Default Re: 二手樓業主提價封盤 & 港股漲769破三關

    Quote Originally Posted by 香 港
    二手樓業主提價封盤
    28/02/2008

    昨 日 公 布 的 財 政 預 算 案 , 有 多 項 利 好 樓 市 消 息 , 部 分 業 主 「 打 鐵 趁 熱 」 , 即 日提價、封 盤 , 紅 磡 半 島 豪 庭 有 放 盤 單 位 業 主 , 在 預 算 案 後 加 價 100 萬 至 700 萬 元 ,與此同 時, 有 買 家 伺 機 入 市 , 東 涌 藍 天 海 岸 水 藍 天 及 西 半 山 嘉 和 苑 即 時 錄 得 成 交 ,沙田第 一 城投 資 者 問 盤 量 較 之 前 增 加 25%

    水 藍 天 雙 號 屋 1720 萬 易 手
    香 港 置 業 稱 , 半 島 豪 庭 2 座 高 層 C 室 , 業主 在 預 算 案 後 調 高 叫 價 17% 至 700 萬元, 同區 黃 埔 花 園 個 別 放 盤 單 位 , 也 提 價 10% 至 30% , 奧 運 站 柏 景 灣 8 座 低 層 G 室,業 主 更決 定 封 盤 。 該 行 稱 , 昨 日 天 水 圍 嘉 湖山 莊 、 鴨 洲 海 怡 半 島 及 茶 果 嶺 麗 港 城放 盤單 位 叫價 均 升 5% ; 美 聯 ( 1200 ) 稱 , 大 圍 區 個 別 放 盤 叫 價 增 約 3% 。

    部 分 買 家 為 免 「 遲 買 會 貴 」 , 於 預 算 案 公 布 後 入 市 。 利 嘉 閣 稱 , 藍 天 海 岸 水藍天 雙號屋 , 昨 日 以 1,720 萬 元 易 手 。 美 聯 稱 , 嘉 和 苑 中 層 B 室 , 於 預 算 案 後 以 1,280 萬元售 出 ; 屯 門 時 代 廣 場 B 座 高 層 7 室 , 以 呎 價 2,891 元 轉 售 , 高 市 價 10% 。

    利 嘉 閣 昨 日 訪 問 402 名 市 民 , 指 入 市 意 欲 上 升 佔 56% , 較 上 次 同 類 調 查 高 12 個 百分點 ; 美 聯 稱 , 沙 田 第 一 城 問 盤 較 之 前 增 25% , 料 該 盤 及 東 區 太 古 城 本 周 末 睇樓量將 上升 。 中 原 料 中 原 城 市 領 先 指 數 下 月 將 進 一 步 攀 升 。

    發 展 商 普 遍 認 為 預 算 案 有 利 樓 市 , 長 實 ( 0001 ) 料 減 稅 及 寬 免 差 餉 可 刺 激 樓 價 較 原 先 預 期 高 5% , 豪 宅 及 整 體 樓 價 今 年 料 升 25% 及 20%。

    代 理 則 認 為 , 收 租 業 主 最 受 惠 , 並 相 信 騰 出 灣 仔 3 幢 政 府 物 業 地 皮 有 助 紓 緩核心 區 甲級 商 廈 供 應 緊 張 情 況 。 釐 印 費 未 調 減 , 地 ( 0012 ) 營 業 部 總 經 理 謝 偉 銓略感 失 望 ,但 整 份 預 算 案 仍 利 好 樓 市 及 經 濟 。


    港股漲769破三關
    28/02/2008

    港 府 「 派 糖 」 適 逢 外 圍 股 市 顯 著 做 好 , 好 友 乘 勢 於 期 指 結 算 前 夕 大 反 攻 , 除 豐控 股( 0005 ) 及 中 資 金 融 股 外 , 部 分 受 惠 預 算 案 的 股 份 顯 著 做 好 , 包 括 地 產 股 、 酒店股 及零 售 股 , 當 中 地 產 股 更 是 好 友 反 攻 利 器 。

    對 於 財 政 司 司 長 在 新 一 年 度 財 政 預 算 案 當 中 , 大 幅 增 加 ○ 八 / ○ 九 年 度 勾 地表土 地數目 至 62 幅 , 中 銀 國 際 分 析 員 何 柱 認 為 , 無 助 紓 緩 今 、 明 兩 年 緊 絀 的 供 應 ,因為有 關 項目 最 快 要 到 二 ○ 一 ○ 年 才 「 出 籠 」 , 在 美 息 持 續 向 下 及 本 港 高 通 脹 情 況下,料 中 、 小型 住 宅 樓 價 今 年 上 升 20% 至 25% , 豪 宅 更 可 上 升 30% 至 35% , 所 以 地產股前 景 仍 然 看好 , 三 月 中 減 息 前 尚 有 上 升 空 間 。

    新 樓 渴 市   地 產 股 看 俏
    瑞 銀 亞 洲 地 產 聯 席 董 事 王 震 宇 認 為 , 無 論 政府 增 加 多 少 幅 土 地 , 若 維 持 高 地 價政策 ,不 放 寬 發 展 商 的 勾 地 價 , 只 會 令 本 港 住 宅供 求 繼 續 失 衡 。 他 又 說 , 現 時 外 圍經 濟環 境與 九 十 年 代 相 若 , 如 美 國 經 濟 衰 退 , 需要 持 續 減 息 , 但 現 時 本 港 內 需 強 勁, 內 地經 濟仍 然 向 好 , 情 況 比 當 年 更 佳 , 今 、 明兩 年 樓 價 或 有 機 會 超 過 升 50% 預 測, 地 產 股今 年續 有 雙 位 數 字 上 升 。

    摩 根 士 丹 利 亞 太 區 主 席 兼 署 理 行 政 總 裁 羅 奇 表 示 , 美 國 聯 儲 局 將 於 下 月 減 息四分 之一至 半 厘 , 但 減 稅 及 減 息 不 可 以 挽 救 經 濟 , 預 期 美 國 經 濟 將 經 歷 3 至 5 季 衰退, 現時 通脹 處 低 水 平 , 不 擔 心 會 有 滯 脹 問 題 。 他 又 認 為 , 亞 太 區 股 市 長 線 仍 處 牛市, 個別 市 場下 跌 20% 至 30% , 但 整 體 仍 有 15% 至 20% 升 幅 , 例 如 A 股 及 H 股 。
    Quote Originally Posted by Unregistered
    Look at HK, property price up & transaction surge recently.
    We always follow HK in stock & property market.
    Wow!
    1. Price increased by 25%!
    2. Price increased by HK$7M!
    3. Market will move up by 30-35% this year!
    4. Growth over the next 2 years will over-exceed the 50% target!

    OMG!
    Over-exceed 50% growth target over the next 2 years!!!!!

  6. #6
    Business Times
    Guest

    Default HDB Will Cater To Buyers With Different Income Levels: Mah


    HDB will cater to buyers with different income levels: Mah
    Business Times
    Friday, 29 Feburary 2008

    The Housing & Development Board (HDB) will continue to provide a range of housing options to cater to buyers of differing income levels and aspirations, Minister for National Development Mah Bow Tan told Parliament yesterday.

    He was responding to concerns that the price gain in the HDB market is putting flats out of the reach of many. HDB resale prices rose by about 17 per cent last year. In addition, reports said that buyers forked out up to $727,000 for a five-room flat in a private-developer built, condo-style project offered under the Design, Build and Sell Scheme (DBSS).

    The price gain for resale homes should slow this year. Mr Mah said: ‘The HDB resale price index grew by only one per cent in January, and I expect prices to grow at a more moderate pace in 2008.’

    The HDB plans to release three more DBSS sites to build up a ‘reasonable stock’ of DBSS flats, Mr Mah said. Together with the four sites already released, the new sites will yield about 4,000 flats.

    He said HDB will continue to cater to buyers with different aspirations and means by providing a range of housing options.

    However, Mr Mah said that flats built by HDB will continue to be the mainstay of new supply.

    ‘Similar to executive condominiums, DBSS flats serve a small niche market of buyers that can afford to pay higher prices for public housing with different designs and features,’ he said.

    Mr Mah also unveiled details of HDB’s new Lease Buyback Scheme, which aims to help low-income and elderly households.

    Under the scheme, which will be implemented next year, the HDB will purchase the tail-end of the flat lease from an elderly household. The occupants will continue to stay in the flat, which will be left with a 30-year lease. On top of the housing equity unlocked, it will provide an additional $10,000 subsidy.

    Of the total amount, $5,000 will be given to the household as an upfront lump sum, while the remainder will be used to purchase a CPF Life Plan to provide the owner with a monthly stream of income for life. If the flat is jointly owned by an elderly couple, they will get individual CPF Life Plans.

  7. #7
    The Straits Times
    Guest

    Default CDL Boss Prepared To Delay Launches In Subdued Market


    CDL boss prepared to delay launches in subdued market
    Some projects can be held off till 2009, he says, as full-year gain swells to $725m

    Fiona Chan
    The Straits Times
    Friday, 29 Feburary 2008



    The property market may have stalled for now, but City Developments (CDL) executive chairman Kwek Leng Beng is not too worried.

    He said that if necessary, he can hold off launches of new developments until next year.

    ‘Rather than launch today when the market is subdued, I would rather start construction on some projects first’ and launch them when demand picks up, Mr Kwek said yesterday.

    ‘If today there are not many buyers, this means that pent-up demand is building up, which can be very powerful.’

    CDL plans to launch more than 400 units in four projects by June, assuming market conditions do not worsen.

    It will release the 77 units at Shelford Suites in Bukit Timah, which is said to have been ready for launch for some time.

    The group also intends to launch 100 units of the 228-unit Quayside Isle @ Sentosa Cove, and another 100 at a new development on the former Lock Cho Apartments in Thomson Road, which will have 336 units.

    The fourth project is a joint venture at Pasir Ris Drive 1. About 150 of its 724 units are targeted for release by June.

    Even if the launches end up delayed, CDL may first start construction on Shelford Suites and the Thomson Road project, said Mr Kwek.

    This could also bring in more upfront cash for the group when it does sell the homes. Buyers have to pay 30% in cash after foundation work is done, compared with only 20% if no construction has started.

    Mr Kwek’s comments yesterday came on the back of a sterling year for CDL last year.

    The developer, Singapore’s second-largest, said full-year net profit more than doubled to a record $725 million. Revenue rose 22% to $3.11 billion.

    Earnings per share more than doubled to 78.3 cents for the year. Net asset value per share rose to $5.72 as at Dec 31, from $5.21 a year ago.

    Last year, CDL booked profits from projects such as St Regis Residences, Tribeca and The Sail @ Marina Bay.

    But it has yet to recognise any profits from One Shenton, The Solitaire, Cliveden at Grange and Wilkie Studio - which account for about $1.7 billion of sales. In all, the group sold 1,655 homes last year for a record $3.4 billion.

    CDL’s hotel and office properties are also enjoying high occupancy rates in the buoyant market. Its offices are almost 96% occupied, compared with a market average of 92%.

    The group has also not adopted the same approach to revaluing its properties as some of its competitors, which have reported huge revaluation gains. With these gains, its profit would have surged to $2.8 billion, it said.

    The group is recommending a final cash dividend, tax-exempt, of 20 cents a share in total.

    Latent Demand

    ‘If today there are not many buyers, this means that pent-up demand is building up, which can be very powerful.’

    Mr Kwek, on why he would rather begin construction on some projects, and launch them later on when demand picked up.

  8. #8
    CNA
    Guest

    Default Area Around Singapore River To Be Revamped For F1 Night Race


    Area around Singapore River to be revamped for F1 night race
    Wong MunWai
    Channel NewsAsia
    Friday, 29 February 2008, 1906 hrs


    Singapore River

    The area around the Singapore River is getting a new look to give it a night-time buzz, and lighting will be a key feature in the makeover.

    The Read and Cavenagh bridges will be fitted with programmable lights that produce different colours and patterns. There will also be lights under the Clemenceau, Coleman and Elgin bridges.

    Even the underpasses at Boat Quay, Empress Place and Clarke Quay will be fitted with programmable lights.

    The river steps outside Central Mall and UOB Plaza will light up as well.

    Floating lights in the shape of jellyfish will be making a splash on the river outside Empress Place. There will also be new street lamps and lights on the trees along the riverfront.

    Work on the makeover starts in April and the Singapore Tourism Board is aiming to finish the first phase in time for the Formula One night race in September.

    The first phase of infrastructure work stretches from the mouth of the Singapore River to the Cavenagh Bridge and Clarke Quay – about 2km out of the total 3km of works.

    The second phase – from Robertson Quay to Kim Seng Bridge – will start in October 2008, and is scheduled to be completed in March 2009.

  9. #9
    The Straits Times
    Guest

    Default Singapore Will Be 'Important Node' In Arab Network


    Singapore will be 'important node' in Arab network
    The Straits Times
    Friday, 29 Feburary 2008

    Singapore has always been an 'important node' in the international Arab network, and Foreign Minister George Yeo is confident that the country will become one again in the 21st century.

    With the Middle East fast becoming a 'new frontier' for Singapore, he told the House yesterday that the region is 'full of opportunities, though not without risks'.

    In the last few years, relations between Singapore and the Arab nations have seen a 'sea change' and high-level bilateral visits are so common, it is happening almost every month.

    Mr Yeo was responding to Dr Mohamad Maliki Osman and Mr Hawazi Daipi (both Sembawang GRC), who asked about Singapore's ties with the Middle East.

    Relations with the six countries of the Gulf Cooperation Council (GCC) have been stepped up, said Mr Yeo, and negotiations on a free-trade agreement between Singapore and the GCC were successfully concluded last month.

    The GCC members are Bahrain, Kuwait, Qatar, Oman, Saudi Arabia and the United Arab Emirates.

    It is estimated that about 35 million people live in these GCC states.

    Beyond the GCC, Singapore's ties with Libya have also 'begun to flower', said Mr Yeo, since the establishment of relations last year.

    Senior Minister Goh Chok Tong will be making an official visit to Libyan capital, Tripoli, later this year.

    Mr Yeo also revealed that Shell's Singapore chairman Lee Tzu Yang has been appointed to chair the new Middle East Institute. An international search for a director is ongoing.

  10. #10
    The Sunday Times
    Guest

    Default Charmed Circle


    Charmed Circle
    The Sunday Times
    Sunday, 2 March 2008

    The Circle Line will open from next year, starting with Stage Three, which links the Bishan station on the North-South Line to the Serangoon station on the North-East Line. Experts say this added accessibility will boost property values in the areas around each station. Which are some of the notable stations and residential developments to look out for now?

    Bartley Road - Steep price jump likely

    Current prices

    At the end of last year, homes in the Bartley area averaged $543 per sq ft (psf) in price.

    While there are too few projects in the area to allow an accurate comparison of average prices over time, those projects with more transactions showed steady price rises last year.

    These include Casa Rosa at Lorong Ong Lye and Sun Rosier at How Sun Drive, which went up in price by 20 per cent to 30 per cent last year.

    Potential growth

    Home prices are likely to jump by up to 30 per cent after the completion of the Circle Line MRT Station in front of the Maris Stella schools, said Mr Ku Swee Yong, the director of marketing and business development at Savills Singapore.

    He said this is one of the locations that will see the biggest rises in value as prices in the area are fairly low right now.

    The construction around the area seems to be more extensive than usual, he noted.

    ‘I would expect a significant price jump once the station is operational. Residents will then reap the benefits after suffering years of disruption from the road works.’

    New launches

    A new 35-unit freehold project, Evania at Bartley Road, was recently launched right in front of the future station.

    Prices start from more than $800,000 for a two-bedroom unit and go up to just above $1.1 million for a 3+1 bedroom unit. There is also a penthouse.

    Lorong Chuan - Richly valued haven

    Current prices

    Prices in the area around Lorong Chuan and Serangoon Avenue 3 climbed almost 50% on average last year, according to data from Savills Singapore.

    They are now about $710 per sq ft (psf), from $480 psf the year before. But prices vary hugely depending on the project’s age.

    Chuan Park at Lorong Chuan, built in the mid-1980s, goes for about $600 psf. In contrast, The Chuan, a recent launch, has seen transactions go over $1,000 psf.

    At Amaranda Gardens at Serangoon Avenue 3 and Goldenhill Park Condo at Mei Hwan Drive, both fairly new projects, units have sold for $743 to $914 psf since the year started.

    Potential growth

    The quiet residential area is popular with locals and expatriates alike, partly because of the schools there, which include Nanyang Junior College and St Gabriel’s Primary School.

    Home prices, however, have already gone up significantly in the last 12 months, so not much upside is likely, said Savills’ Mr Ku Swee Yong. He expects a 10 to 15% rise this year.

    New launches

    No future launches are known at this time. Apart from The Chuan, recent launches include two cluster housing projects, Dunsfold 18 and Milford Villas, which came on the market last year.

    Dunsfold 18 bungalows sold for between $3 million and $3.6 million each.

    The terrace houses at Milford Villas went for $1.2 million to $1.63 million each.

    Marymount - Moderate price increase

    Current prices

    Condominiums around the future Marymount MRT Station saw an average price increase of 35% last year.

    Prices rose from about $576 per sq ft (psf) to $777 psf last year, according todata from Savills Singapore.

    Thomson 800 at Thomson Road is among the developments that command the highest prices in the area. Its most recent transactions, in October last year, went above $1,000 psf.

    Elsewhere, at Seasons View in Pemimpin Drive and Lakeview Estate in Upper Thomson Road, homes are fetching less than $700 psf.

    Potential growth

    The spillover from nearby Bishan - as well as the cluster of office and industrial buildings near the new MRT station - could boost prices in the area by up to 15%, said Savills.

    The proximity to Raffles Junior College and Raffles Institution will further enhance property values near the station.

    New launches

    A new project is set to be built at Bishan Street 22, courtesy of Sim Lian Land, which bought the land last year from the Housing Board (HDB).

    Last year, Sim Lian’s managing director, Mr Kuik Sing Beng, said he expected to launch a 600-unit development on the plot by this June.

    He said it would be a 99-year leasehold, entry-level condo aimed at HDB upgraders. He estimated the homes could sell for between $700 and $750 psf.

    Mountbatten - Boost expected from Sports Hub

    Current prices

    Located near the former Kallang Stadium site and the interim campus for the School of the Arts, Mountbatten is an up-and-coming estate, but it has few condominiums.

    Apartments at nearby Tanjong Rhu and Meyer Road, however, are going for between $1,000 and $1,500 per sq ft (psf) on average.

    Potential growth

    Property watchers said with so few private housing projects in the vicinity, it would be hard to track price growth around the station. Once the nearby Sports Hub is completed, however, property values around the area could rise by at least 10 per cent, they said.

    New launches

    A small project launched in the area last Saturday quietly sold more than 80 per cent of its 45 units within a week.

    The freehold Cosmo, located 400m from the upcoming Mountbatten MRT Station, fetched average prices of $1,050 to $1,100 psf.

    As at Friday, a few two-bedroom and duplex units were still available, priced at between $700,000 and $925,000.

    Mr Melvin Poh, the managing director of Cosmo developer Fission Development, describes the area as ‘quite exciting’, as there are so many billion-dollar projects sprouting up nearby.

    He expects home rentals in the area to hold steady, given its proximity to the city and a future MRT station.

    Dakota - Values to swing up on HDB turf

    Current prices

    The site for the upcoming Dakota MRT Station lies smack in the middle of an HDB estate, with few private homes immediately nearby.

    The Government, though, may be trying to further develop private housing in the area, given the release of a plot at Dakota Crescent last year.

    Few HDB resale transactions have taken place there in recent months. A single four-room flat sold for $440,000 last month.

    Further down the Dunman Road/Tanjong Katong Road side, prices of private condominiums have shot up by some 40 per cent in the last year to an average of between $700 and $1,000 per sq ft (psf).

    Potential growth

    Home prices at Dakota are not expected to rise by that much, since they have already gone up a fair bit in the last year.

    With a new station opening in the area, however, values could go up by at least 20%, once construction is finished and the roads are cleaned up, said Savills Singapore’s Mr Ku Swee Yong.

    The presence of many schools in the area, including Broadrick Secondary School and Chung Cheng High School, should also boost demand and rentals.

    New launches

    Boutique developer Ho Bee, which bought the government plot released last year, has a widely anticipated project coming up on the site.

    The new units are likely to be launched at an average of $1,000 to $1,100 psf, Ho Bee said last year.

    About 380 homes can be built on the 99-year leasehold site.

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