Daily Archives: 17 Aug 2009

S’pore July private home sales soar to record high

Posted on 17 Aug 2009 | Comments Off on S’pore July private home sales soar to record high

Private home sales in Singapore soared to a record high for the second straight month in July, indicating increased confidence and speculation in the city-state’s property market, government data showed on Monday.

The Urban Redevelopment Authority (URA) website showed developers sold 2,767 private homes in July, smashing the previous monthly record of 1,825 units that was set in June.

Mohamed Ismail, CEO of PropNex, a real estate broker, noted that over 40 per cent of sales involved mid- to higher-tier homes costing above S$1,000 ($692) per square foot, indicating the boom was no longer restricted to cheaper apartments.

The higher selling prices were also ‘a result of developers reacting to consumers’ demand and raising the prices’, he added.

The URA data showed that City Developments, Fraser & Neave’s property arm Frasers Centrepoint and banker Wee Cho Yaw’s UOL Group were Continue reading →

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Posted in Property Market / Real Estate

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Kaki Bukit industrial site sold for S$12.1m to Kng Development

Posted on 17 Aug 2009 | Comments Off on Kaki Bukit industrial site sold for S$12.1m to Kng Development

An industrial site at Kaki Bukit which attracted a record number of bids has been sold to highest bidder, Kng Development Pte Ltd, for S$12.1 million.

The 115,342 square foot plot in Kaki Bukit Road 2 was launched for public tender on July 14, after an application bid of S$5 million was submitted.

Eighteen offers were made by the end of the bidding period – the most ever received for an industrial site.

The site, which has a 30-year lease, is zoned as a Business 2 development which allows clean, light and general industrial uses.

Analysts said sites for such uses in the Kaki Bukit area are rarer as they are usually found in Tuas or Changi.

Source : Channel NewsAsia – 17 Aug 2009

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Posted in Developers, Office / Retail / Industrial

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