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Commonwealth Towers, Hong Leong Holdings' high-rise condominium project, took off on its first day of sales yesterday. As at 8pm yesterday, out of the 300 units initially launched, 175 units had been snapped up, with more than 100 buyers in the process of having options issued.
 
In view of the demand, developers extended yesterday's sales hours and added another 100 units to the launch, said Betsy Chng, head of sales and marketing at Hong Leong Holdings. The units are priced between $1,635 per square foot (psf) for a one-bedroom apartment to $1,690 psf for a four-bedroom unit. The strong sales followed the keen initial interest the project drew on its first-day preview on April 13. More than 1,500 people visited the showflat, prompting Hong Leong to extend the preview time by two hours.
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Fewer flat owners are jumping at the chance to sell their Housing Board unit once they can, as weak resale prices make it more worthwhile to hold on.
 
Two years ago, almost one in five of those who turned eligible to sell their flat - having stayed for the minimum five years - promptly did so within the year.
 
But last year, amid a cooling market, only 5.5 per cent who had met the minimum occupation period (MOP) did so.
Of 8,521 possible flats, 470 changed hands within a year of meeting MOP, HDB figures showed.
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SINGAPORE - Prime office rents are expected to rise this year thanks to improving economic sentiments, Cushman & Wakefield has said in its latest report.

The leasing market was active in the first quarter of this year with the number of enquiries in the market at a generally healthy level, the real estate firm said.

With the limited supply of prime grade A office space in the market, the average grade A overall rent was marginally higher at $9.90 per square foot per month (psf/mo) in the first quarter of 2014, up by 5.5 per cent from the previous quarter. Compared to the same quarter a year ago, the average grade A effective monthly rent was up by a firm 10.1 per cent.

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[SINGAPORE] Singapore's office rents are set to rise as much as 15 per cent this year on increased demand and a dearth of new developments, said Lynette Leong, chief executive officer of CapitaCommercial Trust Management Ltd.

Global companies including Cargill Inc, the biggest US agricultural firm, and Bordier & Cie, a Swiss private bank's local subsidiary, are driving the recovery as they set up offices in the central business district, said Ms Leong, whose company manages the biggest office trust in Asia outside Japan.

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Pricing tipped to be in the region of $2,340 psf of net lettable area

 

A CONSORTIUM that includes private equity group KOP is believed to be doing exclusive due diligence on a potential purchase of Keppel Reit's majority stake in Prudential Tower. 

Sources say the pricing could be in the region of $2,340 per square foot (psf) of net lettable area (NLA). Based on the 221,241 sq ft net lettable area or 92.8 per cent share of the building that Keppel Reit owns, the deal size would work out to nearly $520 million.

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SINGAPORE - CapitaGreen the newest 40-storey Grade A office building in Singapore's central business district (CBD), has secured its first three tenants.

Commodities trading giant Cargill has signed on for 51,000 sq ft, and the Singapore unit of Swiss private bank Bordier & Cie is leasing more than 12,000 sq ft.

The third tenant will be an international gym operator which plans to launch a new club and lifestyle concept at CapitaGreen with 18,000 sq ft, said the development's joint venture partners - CapitaLand, CapitaCommercial Trust and Mitsubishi Estate Asia - on Tuesday.

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Announced by Prime Minister Lee Hsien Loong in his National Day Rally speech in August last year, Project Jewel at Changi Airport will become another iconic international attraction when it opens in 2018. It will cement Singapore’s position as a top tourist destination and also better serve domestic consumers.

Project Jewel will also join other recent retail developments in Singapore, namely Westgate and Jem in Jurong East and Bedok Mall. With the iconic Orchard Road area and the many heartland malls already in existence, it begs the question: Does Singapore need so many malls? The answer is yes.

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THE government will make more factory and shop space available over the next three years to ensure there is enough supply for businesses as they plan for the long term.

Minister of State for Trade and Industry Teo Ser Luck said in Parliament yesterday that an average of 500,000 sq m of multiple-user factory space will come on-stream each year for the next three years.

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As the housing market moves into the peak rental season, the Core Central Region (CCR) continues to struggle to regain the rents it commanded before the global financial crisis.

According to the Singapore Real Estate Exchange’s (SRX) Rental Price Index for non-landed private homes, rents in the CCR are now down 1.9 per cent from their pre-crisis peak. The CCR consists of the city centre including high-end areas such as Orchard, River Valley, Bukit Timah, Holland Road, Harbourfront and Sentosa Cove. In contrast, rents in the Rest of Central Region (RCR), or city fringes, and the Outside Core Region (OCR), or suburbs, have exceeded their pre-crisis price peaks by more than 8 per cent.

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Singapore's non-oil exports rebounded strong in December, smashing consensus expectations. Economists told CNBC this jump could help propel the economy's recovery this year.

Non-oil domestic exports (Nodx), which include sectors such as electronics and pharmaceuticals, were up 6 percent in December from a year earlier, a sharp rebound on the 8.9 percent contraction in the previous month, and well above consensus expectations for a 1.7 percent rise.

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Recent alarmist commentary may have stirred up concerns about Singapore's economy, but in the midst of the emerging market rout, safe-haven seekers' faith appeared unshaken as they scooped up its currency.

"We have noted its safe-haven status within the Asian region is getting stronger in past years. So when you have a broad risk off, in general the Singapore dollar will outperform," said Ju Wang, senior foreign-exchange strategist at HSBC.

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The U.S. Federal Reserve's massive bond-buying program to stimulate the U.S. economy has long sparked fears that it was inflating property prices. But now the Fed has started to wind down its purchases, concerns are rising that "tapering" could generate new risks for global property markets.

The Fed's $85 billion of bond purchases every month had pumped extra liquidity into the world's financial system. All these extra funds encouraged investors to pile into riskier assets – such as property.

This in turn contributed to dramatic house price rises across a number of emerging markets. In 2013, Indonesian house prices rose by 13.5 percent, Turkey's increased by 12.5 percent and Brazil's were 11.9 percent higher, according to global property consultancy Knight Frank's Global House Price Index. 

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Singapore's famously efficient government faces a challenge that has stymied many a country before: safely guiding its toppish property market to a soft landing as interest rates rise.

Property prices in the city-state have surged over 60 percent since 2009, propelled by rock-bottom global interest rates and quantitative easing in developed economies, even as Singapore's government has enacted a series of cooling measures to prevent a bubble from forming.

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Singapore's property market has entered a standoff between bargain-seeking buyers and developers sticking to their pricing guns, with March's new home sales dropping 83 percent from a year earlier.

"Buyers think they can have their cake and eat it," said Alan Cheong, senior director for Singapore at Savills Research. "They are expecting the other side to lose money on their behalf. That idea doesn't work if you have an economy that's fully functioning," he said, citing the city-state's unemployment rate of only 1.5 percent.

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Prime residential development land prices in Singapore fell 1.4 percent over the period of December 2011 to December 2013, according to the Knight Frank Prime Asia Development Land Index, which was launched today. 

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Should local players be scared?

According to BNP Paribas, in the past few years, it has seen foreign developers, especially the Chinese developers, making an effort to gain market share, possibly for scale effect, and for beefing up their pipeline to sustain their business operations in Singapore.

Here's more:

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CapitaLand Ltd , Southeast Asia's biggest property developer, said it has offered S$3.06 billion (1.46 billion pounds) to buy out minority shareholders in its 65-percent owned CapitaMalls Asia Ltd business.

In a deal that would simplify its corporate structure and taking advantage of a discount valuation at the unit, CapitaLand said on Monday it's offering S$2.22 per share in CapitaMalls, a shopping malls operator. That represents a 23 percent premium to last Friday's CapitaMalls closing share price of S$1.80.

Trading in both CapitaMalls and CapitaLand, 39-percent-owned by Singapore sovereign investor Temasek Holdings , was halted from the start of trading on Monday pending an announcement.

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Despite headwinds in the market.

According to Knight Frank, more international investors are venturing into Singapore real estate market. The chart illustrates the estimated investment volume ploughed in by REITs as well as local and international investors in 2012 and 2013. Local investors continued to dominate the investment sales landscape in Singapore despite the growing trend of venturing into overseas markets.

Despite the headwinds in the market, there are still signs of optimism as shown by the growing number of overseas investors in Singapore. Overseas investments in Singapore surged by more than 90.2 per cent from $3.4 billion in 2012 to $6.4 billion in 2013.

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Bank of China giving up to 95% loan, UOB 70% and OCBC 50% of valuation

[SINGAPORE] Buying property in Japan used to be the preserve of high-net-worth individuals, who would plonk down $1.5 million for a chalet - complete with outdoor hot tub - in Niseko, a popular Hokkaido ski resort, if only to indulge their love for skiing.

Not any more.

 

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District 1
Marina Bay Condo | Shenton Way Commercial | Marina Bayfront Condo | Central Boulevard Condo | Central Boulevard Towers | Marina View | V on Shenton | Marina South Pier Condo | Marina One Residences | Shenton Way Condo |
District 2
Pearl Bank En Bloc | Outram Park MRT Condo | Silat Residences | Avenue South Residence | Sky Everton | Sky Everton Freehold Condo Prices | Outram Road Condo | One Pearl Bank | Excellent Connectivity from One Pearl Bank | One Pearl Bank Design and Layouts | Pearl Bank Apartments | Asia Gardens | Anson Road Condo | Tanjong Pagar Condo | Tanjong Pagar Commercial | Greater Southern Waterfront | Wallich Residence | Tanjong Pagar Centre |
District 3
Queenstown Condo | Queens Peak Condo | Dundee Road Condo | Margaret Ville | Margaret Drive Condo | Alexandra View Condo | Prince Charles Crescent Condo | Rest of Central Region Condo | Principal Garden | Silat Avenue Condo | Jalan Bukit Merah Condo | Kampong Bahru Road Condo | Stirling Road Condo | Stirling Residences | Commonwealth Avenue Condo | The Crest @ Prince Charles Crescent | Commonwealth Towers | Highline Residences | Alex Residences |
District 4
Corals at Keppel Bay | Skyline Residences | Reflections at Keppel Bay |
District 5
Park West Condominium En-Bloc | West Coast Vale Condo | Park West Condominium | Parc Clematis | Parc Riviera | The Trilinq | Bijou | West Coast Way Condo | One Normanton Park | Normanton Park Condo | Clementi Avenue 1 Condo | Jalan Lempeng Condo |
District 7
CityGate Condo | Selegie Road Condo | Sophia Road Condo | Tan Quee Lan Street Condo | The M | Middle Road Condo | South Beach Residences | Duo Residences | Beach Road Bugis Rochor Condo | Midtown Suite | Midtown Bay | Midtown Bay Floor Plans and Facilities | Beach Road Commercial | Golden Mile Complex | Textile Centre | Golden Mile Complex En Bloc | Textile Centre En Bloc | The Oasis |
District 8
Peace Centre Mansions En Bloc | Perumal Road Condo | Northumberland Road Condo | Uptown at Farrer | 1953 Condo | LYF | Tessensohn Residence |
District 9
Cairnhill Mansions En Bloc | Orchard Bel-Air En-Bloc | Pacific Mansions En Bloc | Robertson Quay Condo | Paterson Road Condo | Cavenagh Gardens En-Bloc | Cavenagh Gardens | Cavenagh Road Condo | Orchard Boulevard Road Condo | Orchard Road Condo | Scotts Road Condo | Cairnhill Road Condo | Riviera Point | The Iveria | The Iveria Condo Floor Plans | Cairnhill Mansions | One Tree Hill | River Valley Road Condo | Martin Place Condo | Martin Modern | Kim Seng Road Condo | Handy Road Condo | Haus on Handy | Jiak Kim Street Condo | Riviere Condo | Fraser Residence Promenade | Avenir Condo | Pacific Mansions | Great World MRT Station Condo | Martin Place Residences | The Rise at Oxley Residences | Orchard Paterson Cairnhill Road Condo | Core Central Region Condo | Robertson Quay Condo | Paterson Collection | St Thomas Walk | Leonie Hill Road Condo | Horizon Towers | Leonie Gardens | New Futura | Cairnhill Nine | 3 Orchard by the Park | Twin Peaks |
District 10
Grange Road Condo | Farrer Road Condo | Tulip Gardens En Bloc | Tulip Garden Residences | Leedon Green | Leedon Green Floor Plans | Tulip Garden Residences Floor Plans | Tulip Garden | Tanglin Road Condo | Jervois Gardens | Crystal Towers | Juniper Hill Condo by AllGreen Properties | Juniper Hill | The Hyde at Balmoral | The Hyde | Balmoral Road Condo | Jervois Road Condo | Petit Jervois | Jervois Prive Exclusive Condo | Jervois Prive | Jervois Treasures Condo Floor Plans | Jervois Treasures | Tanglin Shopping Centre En Bloc | Tanglin Shopping Centre | Jervois Gardens En Bloc | Spring Grove En Bloc | Spring Grove | Hallmark Residences | Wilshire Residences | Sloane Residences | Ewe Boon Road Condo | Bukit Timah Road Condo | Bukit Timah Collection | Cluny Park Residence | Cuscaden Road Condo | Petit Cuscaden | Cuscaden Reserve | Cuscaden Reserve Condo Floor Plans | Boulevard 88 | Pollen and Bleu | Leedon Residence | Gramercy Park | Ardmore Three 3 | Sculptura Ardmore | RV Residences | Robin Residences | 18 Nouvel@ Anderson Road | Holland Road Condo | The Estoril | The Estoril En Bloc | Hollandia En Bloc | Hyll at Holland | Hollandia | TwentyOne Angullia Park | D'Leedon | Mon Jervois | Holland Village Residences | One Holland Village | One Holland Village A Mixed Development Design | Holland Village Condo | Van Holland | Van Holland Floor Plans | 15 Holland Hill | 15 Holland Hill Floor Plans |
District 11
Chancery Court En Bloc | Chancery Court Condo | Thomson Road Condo | Novena Condo | Newton Road Condo | Pullman Residences | Pullman Residences Floor Plans | Dunearn Road Condo | 386 Dunearn | Dunearn Court Condo | Derby Court | Fyve Derbyshire | Derbyshire Road Condo | Kampong Java Road |
District 12
Balestier Road Condo | Toa Payoh Condo | Neem Tree | Riverbay | Boon Teck Towers | Eight Riversuites | Boon Teck Towers En Bloc | Gem Residences | Kallang Riverside Condo |
District 13
Woodleigh Residences | Upper Serangoon Road Condo | Park Colonial | Woodleigh Lane Condo | Mattar Residences | Woodleigh MRT Condo | Woodleigh Condo | Woodleigh Link Condo | Bidadari New Estate Condo | Upper Aljunied Road Condo | Tre Ver | Raintree Gardens | Potong Pasir Avenue 1 Condo | Potong Pasir Condo | The Maisons | The Quinn | Mattar Road Condo | The Poiz Residences | The Venue Residences | Sant Ritz |
District 14
Eunos Condo | Eunos MRT Condo | Sims Avenue Condo | Changi Road Condo | Parc Esta | Eunosville | Eunosville En Bloc | City Plaza | City Plaza En Bloc | Paya Lebar Road Condo | Sims Drive Condo | Park Place Residences | Paya Lebar Quarters | Sims Avenue Condo | Paya Lebar Central |
District 15
Dunman Road Condo | Coastline Residences | Amber Sea | One Meyer | Albracca | Siglap MRT Station Condo | Marine Parade Road Condo | Casa Meyfort Condo | Meyer Mansion Floor Plans | Meyer Mansion | Meyer Modern | Nanak Mansions | Meyerhouse Exclusive Condominium | Meyerhouse | Meyerbank | Nyon | Rebirth of Amber Park Condo | Amber Park Condo Seafront Living | Amber Park | The Opus | Parkway Mansion | Amber Park En Bloc | Hawaii Tower En Bloc | Parkway Mansion En Bloc | Albracca En Bloc | Laguna Park | Laguna Park En Bloc | Tanjong Katong MRT Station Condo | Meyer Road Condo | Hawaii Tower | Katong Park MRT Condo | Katong Park Residences | Katong Park Towers | Amber Gardens Condo | Amber Road Condo | Neptune Court | Neptune Court En Bloc | Lagoon View | Lagoon View En Bloc | East Coast Marine Parade Condo | Katong Shopping Centre | Katong Shopping Centre En Bloc | Mountbatten Road Condo |
District 16
Siglap Road Condo | Mandarin Gardens | Mandarin Gardens En Bloc | New Upper Changi Road Condo | The Glades | Bedok South Condo |
District 17
The Inflora |
District 18
Tampines Court | Treasure at Tampines | Tampines Court En Bloc | Tampines Street 11 Condo | Tampines Avenue 10 Condo | Coco Palms |
District 19
Florence Regency En-Bloc | Florence Residences Condo Club | Florence Regency | Rio Casa | Kensington Park En-Bloc | Kensington Park | Serangoon Ville | Serangoon Ville En Bloc | Forestwood Residences | Hougang Avenue 2 Condo | Hougang Central Condo | Hougang Condo | Riverfront Residences | Hougang Avenue 7 Condo | Affinity | Serangoon North Avenue 1 Condo | The Garden Residences | New Condo | Serangoon Gardens Condo | Serangoon Central Condo | Lorong Lew Lian Condo | Riverbank Sengkang West Way Condominium | Yio Chu Kang Road Condo | Toho Green | Rivertrees Residences | Parc Botannia | Fernvale Road Condo | High Park Residences | Sengkang West Condo | New Tampines Road Condo | Kingsford Waterbay | Botanique at Bartley | Buangkok Condo | Buangkok MRT Station Condo | Sengkang Central Condo | Sengkang Grand Residences | Sengkang Central Residences | Sengkang Central Residences Floor Plans | Sengkang Grand Residences Floor Plans | Sengkang Central Residences Prices | Sengkang Grand Residences Prices |
District 20
Marymount Road Condo | Braddell View En Bloc | Lentor Hill Road Condo | Lentor Central Condo | Braddell View | Shunfu Road Condo | Jade Scape | Far Horizon Gardens | Far Horizon Gardens En Bloc | Ang Mo Kio Avenue 9 Condo | Faber Gardens | New Lorong Puntong Condo | Thomson Impressions Condo | Adana | Panorama | Upper Thomson Road Condo | Yio Chu Kang Road Condo | Lentor Road Condo | Caldecott Condo | Bishan Central Condo | Lentor Drive Condo |
District 21
Jalan Anak Bukit Condo | Beauty World Condo | Goh & Goh Building En Bloc | Pine Grove | Pine Grove Condo | Pandan Valley Condo | Ridgewood Condo | Ridgewood Condo En Bloc | Mayfair Collection | Mayfair Gardens Condo | Mayfair Modern | King Albert Park MRT Station Condo | Mount Sinai Condo | Ulu Pandan Road Condo | Pine Grove En Bloc |
District 22
Jurong Condo | Lake Grande Condo | Lakeville | J Gateway |
District 23
Toh Tuck Road Condo | Kismis View | Dairy Farm Road Condo | Dairy Farm Residences | Dairy Farm Residences Floor Plans | Foresque Residences | The Lanai | Hillion Residences | Bukit Batok Condo | Hillview Rise Condo | Dairy Farm Residences Prices |
District 25
Woodlands Square Condo | Woodlands Square Commercial | Woodlands Central Condo |
District 26
Springside Road Condo |
District 27
NorthPark Residences | Canberra Drive Condo Sembawang | Canberra Link Condo Sembawang | New Yishun Ave 4 Condo | The Wisteria | Condominium Yishun Central | Symphony Suites | Yishun Avenue 9 Condo | Sembawang Road Condo |
District 28
Jalan Kandis Condo | Kandis Residence |
Executive Condo
Parc Life EC | Choa Chu Kang Drive EC | Sol Acres EC | The Vales EC | Tampines Avenue 10 EC | Tampines Street 62 EC | Fernvale Lane EC | Tampines EC | Signature at Yishun | Choa Chu Kang Grove EC | Bukit Batok EC | Tengah EC | Choa Chu Kang Avenue 5 EC | Woodlands Avenue 12 EC | Sembawang Avenue EC | The Visionaire | New EC at Canberra Link | Canberra Link EC Sembawang | Parc Canberra | Yishun Avenue 9 EC | Yishun Street 51 EC | The Criterion EC Yishun | Yio Chu Kang Road EC | New EC | Serangoon North EC | Yishun Avenue 1 EC | The Terrace EC Punggol | The Amore EC Punggol | Westwood Residences EC | Anchorvale Lane EC Sengkang | Sungei Punggol Reservoir EC Sengkang | Anchorvale Street EC Sengkang | Ola EC | Ola EC Prices and Floor Plans | Westwood Avenue EC | Choa Chu Kang Way EC | Canberra Drive EC Sembawang | BrownStone EC | Choa Chu Kang EC | LakeLife EC Jurong | Jurong EC Jurong | Punggol Drive EC Punggol | Woodlands Avenue 5 EC Woodlands | Parc Canberra Floor Plans | Sumang Walk EC Punggol | Piermont Grand | Piermont Grand EC Prices | Punggol Central EC Punggol |
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