June 2018

SINGAPORE (EDGEPROP) – Tee Land, a boutique developer, announced on 28 June that it had entered into an option-to-purchase agreement to acquire the freehold interest in a plot of land located at 338 to 364 Upper East Coast Road, Singapore with a land area of approximately 3,928.8 square metre. The purchase consideration for the land on which Teck Guan Ville condo now sits, is S$60,000,000 and...

SINGAPORE (EDGEPROP) – Stirling Residences, a mega project of Logan Property (Singapore) Company and Nanshan Group Singapore (joint-venture) at Queenstown, is today (30 June) opening its showflat for preview. The joint-venture’s win of the tender for the site in Queenstown set a record in May for exceeding the price quantum for Government Land Sales (GLS) programme.The joint-venture submitted the...

SINGAPORE (EDGEPROP) – A report released by Edmund Tie & Co on 28 June said that there were more owners’ listings placed in the property auction market for Quarter 2 (Q2) but that there was a dip in mortgagee sales this quarter. While the number of units hammered down y-o-y has maintained at 10 units, the decrease in sales value from 2017 may also be due to the lack of high quantum properties being...

[SINGAPORE (EDGEPROP) – The government on 27 June announced the second half 2018 Government Land Sales (2H18 GLS) Programme, which comprised six Confirmed List sites and nine Reserve List sites to yield more private residential units.The bank noted that the 2H18 GLS of 8,040 residential units, is flat half-on-half (h-o-h) – (-0.1% h-oh; -1% year-on-year) – with a view that there is a healthy supply...

SINGAPORE (EDGEPROP) – The Government yesterday (27 June) announced the second half 2018 (2H2018) Government Land Sales (GLS) Programme, which comprised six Confirmed List sites and nine Reserve List sites to yield more private residential units. "These sites can yield up to 8,040 private residential units, 124,200 sqm gross floor area (GFA) of commercial space and 930 hotel rooms."The six Confirmed List...

SINGAPORE (EDGEPROP) – Strata Titles Board today blocked the collective sale of Goodluck Garden with a stop order after seven minority owners objected to the sale on the grounds of lack of good faith. Two rounds of mediation efforts were made before the stop order was issued.The Strata Titles Board will not approve an en bloc sale application if it was satisfied that the sale was not conducted in good...

SINGAPORE (EDGEPROP) – The uplift in economic and manufacturing sector performances and signs of an imminent bottoming of the industrial property market have not prompted the Government to up the IGLS industrial sites supply for the second half of 2018, said JLL. It noted that the IGLS supply for second half of 2018 has been kept relatively similar to that for first half of 2018. Specifically, the 2nd...

SINGAPORE (EDGEPROP) – Dalvey Court at 28 Dalvey Estate, a highly coveted and exclusive residential enclave in District 10 has been put up for collective sale. Completed in 1976, Dalvey Court is a nine-storey residential block comprising 32 apartment units of similar size. Cushman & Wakefield, the appointed marketing agent for the property has garnered the requisite 80 per cent consensus by share...

SINGAPORE (EDGEPROP) – Prime city-fringe commercial freehold sites in Jalan Besar changed hands from City Developments Limited (CDL) to Hwa Hong Corporation for $13.8 million. Hwa Hong used its indirectly wholly owned subsidiary Global Trade Investment Management Pte Ltd to exercise the option to purchase today.The commercial freehold sites at the entrance to the former New World Amusement Park went up...

SINGAPORE (EDGEPROP) – A British research suggests that first time home owners still find it very difficult to secure home loans. 89 per cent of first time home buyers find it difficult to get a mortgage loan said the study from Aldermore.The study which sampled British home buyers noted that raising a deposit is still the number one obstacle for four in ten of prospective first time buyers, up from 34...