Category Archives: Luxury Property

Rents on luxury property to slip 5%

Posted on 26 Jul 2013 | Comments Off on Rents on luxury property to slip 5%

Average monthly gross rents of luxury and super-luxury homes are expected to drop by up to five percent this year, according to Colliers International.

This could be due to heightened competition for tenants in completed and upcoming projects, which could put some downward pressure on rents.

Meanwhile, developers who acquired land at high prices are not expected to significantly slash pricing due to low profit margins.

“In light of the revised forecast tally which remains healthy, the above factors are expected to still provide support for prices of newly launched homes,” said Colliers International.

“Taking into account the possible effects on the secondary market as well, overall private residential home prices are expected to flat line with marginal downsides if any, apparent nearer the end of the year.”

Source – PropertyGuru – 25 Jul 2013

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Tudor Close bungalow on sale for $38m

Posted on 22 May 2013 | Comments Off on Tudor Close bungalow on sale for $38m

A two-storey freehold bungalow at Tudor Close in District 11 is up for sale by tender with a price tag of over S$38 million, said the property’s marketing agent Savills Singapore.

Located on a 22,534 sq ft site, the plot has been approved for subdivision into four lots. It lies near the Camden Park and Chee Hoon Avenue good class bungalow (GCB) areas and is accessible via Dunearn Road and Kheam Hock Road.

Commenting on the sale, Steven Ming, Deputy Managing Director of Savills Singapore, said: “Such (a) prime site is rare and would appeal to boutique developers and extended families who wish to stay close together.”

Derrick Tan, Associate Director for Investment Sales, added: “The property is expected to be well-received as it has attractive attributes for a dream home such as being well-elevated, regular shaped and a north-south orientation.”

The tender for the site closes on June 28.

Source – PropGuru – 22 May 2013

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