Caution in the local property market

SINGAPORE - The drop in the number of bids for land sale sites appears to indicate that a degree of caution has settled in the property market.

A recent Urban Redevelopment Authority land tender for a commercial site along Robinson Road and Cecil Street closed with only three bidders.

According to a report by DBS Group Research, the "response was lukewarm" on the back of the global uncertainties and potential knock-on impact on the office rental market.

The winning bid for the commercial site was S$311.8 million, or S$882 per square feet per plot ratio (psf ppr). Still, DBS said the winning bid was "fair despite being below at the lower end of earlier market expectations of S$995 psf ppr.

Meanwhile, bids by developers for residential government land sales have also moderated.
 
More details at http://www.todayonline.com

Source : MediaCorp Press Ltd  by Linette Lim

Comments

Post a Comment

Popular posts from this blog

Singapore property developers cautious about market outlook

SINGAPORE : Property developers seem pessimistic about the outlook for Singapore's real estate market in 2012, with some analysts foreseeing a five to ten percent drop in property prices this year. But market watchers also say the strong interest in recent property launches could defy these forecasts and even lead to more cooling measures. Celebrations continue but property developers are still in the dark about the outlook for Singapore's property market in 2012. Mr Wong Heang Fine, President, Real Estate Developer's Association of Singapore, said: "We are cautious. On the market going forward, it all depends on how the global economy goes in the next eleven months. So it's really anybody's guess." URA data shows the rate of price increase for private residential properties moderating for the ninth consecutive quarter with rentals also tapering off.  More details at  http://www.channelnewsasia.com Source : MediaCorp Pte Ltd by Yvon
Read more

Condos Future Launches

Project Name Street District Till Units Marina Bay Suites Central Boulevard 01 99 221 Unnamed Spottiswoode Park Road 02 FH 348 Sentosa Quayside Ocean Way 04 99 228 Unnamed West Coast Crescent 05 99 295 RV Residences River Valley Close 09 999 220 Paterson Suites Paterson Road 09 FH 102 The Vermont on Cairnhill Cairnhill Road 09 FH 123 Urban Suites Hullet Road 09 FH 165 Urban Resort Condominium Cairnhill Road 09 FH 64 Vivace Tong Watt Road 09 999 85 Waterscape @ Cavenagh Cavenagh Road 09 FH 200 Espada St Thomas Walk 09 FH 232 Nathan Suites Nathan Road 09 FH 65 Helios Residences Cairnhill Road 09 FH 140 Parvis Holland Road 10 FH 248 Trilight Newton Road
Read more

Condo Reviews : Trevista

As posted in www.h88.com.sg on 2 Sep 2009 by John H88.com.sg Condo Reviews Condo Review: Trevista Condo Review: Trevista About Trevista The Trevista is a 99-year leasehold, District 12 condo consisting of 590 units in three 39-storey blocks. Developed by NTUC Choice Homes, Trevista has a unit mix of studio, 1+1, 2, 2+1, 3 and 4 BR apartments. Expected to TOP in late 2012, this is Toa Payoh’s first condominium in more than a decade. In fact, Trevista is Toa Payoh’s third condo after Oleander Towers and Trellis Towers. This project comes with ‘full condo facilities’. Notable ones include a tennis court, a 50m lap pool and a rock climbing wall. Parking lots are underground. Unfortunately there are only about 590 lots available so your guests will have to find somewhere else to park. There’s a HDB MSCP right across the street in case they want to pay you a visit. Trevista is without doubt a mass market condo, with 590 units sharing a 50m lap pool and a single tennis court, this place is as
Read more