S’poreans love affair with London to continue

London property will continue to remain an attractive proposition for Singaporean buyers and investors during 2012, according to UK-based agents and developers. The number of local buyers in the market has been increasing throughout 2011, although in recent months the actual percentage of overseas investors as a whole has declined because more Middle Eastern, North
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URA releases 3 residential sites for sale

The Urban Redevelopment Authority (URA) has released three residential sites at Bedok South Avenue 3, Boon Lay Way and Jervois Road for sale this month, providing more private housing choices to both developers and home buyers. The land parcels at Jervois Road and Bedok South Avenue 3 are under the Confirmed List, while the Boon Lay Way
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Singapore developers dominate in Australia

Foreign property developers are now responsible for more than 30 percent of Australia’s apartment market, with Singapore companies leading the way. Research from CBRE found that overseas investors are behind 13,000 apartments in 37 projects across the country. The consultancy noted that about 40 percent of these units are under construction, with the rest at
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Archipelago hit by sales slowdown

Archipelago, a 577-unit residential development at Bedok Reservoir, which was launched last week, is underperforming due to the latest property cooling measures, according to Singapore Business Review. In a report, OCBC revealed that the project’s foreign and PR (permanent resident) markets, which comprise over 20 percent of its total buyers, are now burdened with the
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Unit at The Marq sets S$6,850 psf record

The recent cooling measures which require foreigners buying private property in Singapore to fork out an additional 10 percent stamp duty, is expected to curb skyrocketing property prices. And if recent transacted prices at certain luxury developments are anything to go by, the new measures could not have come at a better time. A prime example
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Analyst says new measures to stay for good

The additional buyer’s stamp duty could become a permanent fixture in the residential property market even after prices cool, according to Bank of America Merrill Lynch. Chua Hak Bin, an economist at the bank, said cooling measures implemented in 1996 to differentiate between local and foreign buyers were eventually repealed but this new measure is
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Foreigners still snapping up luxury property

Foreign buyers continue to purchase high-end homes in Singapore’s prime central districts. In the first 11 months of 2011, they contributed to 28.7 percent of home transactions in the Core Central Region (CCR). A CBRE analysis of caveats data by the Urban Redevelopment Authority (URA) also indicated that foreigners accounted for 20.2 percent of home
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Far East still confident in property market

  Far East Organization remains optimistic in the long-term prospects of the property market despite the recent government cooling measures. At a seminar held last night at The Scotts Tower (TST) showflat, the developer told a packed audience that it expects Singapore’s housing market to remain robust as the number of new launches coming onstream is slower
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Private home sales rise 13 percent in November

Despite fears that Singapore’s property market could slide after the government launched a harsh round of cooling measures last week, data from the Urban Redevelopment Authority (URA) shows that the market is still very robust. In November, the total number of private housing units transacted climbed to 1,854, a 13 percent rise from 1,638 in October. Excluding
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Home sales trickle in despite curbs

Although property buying may have slowed after the implementation of heavier stamp duties last week, sales are still trickling in. As of Sunday, developer SingXpress Land had sold 17 of the 21 units at the cluster housing development Charlton Residences, located near Kovan MRT station. According to Chan Tung Moe, Executive Director of SingXpress, none of the
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