Tag Archives: Jones Lang LaSalle

New private home sales jump in March

Posted on 11 Apr 2013 | Comments Off on New private home sales jump in March

Sales of new private homes jumped by four times in March, compared to February.

Latest figures released by the Urban Redevelopment Authority showed that developers sold 2,793 new units (excluding executive condominiums) in March

This is the highest monthly sale volume since June 2007, surpassing the previous high of 2,772 units in July 2009, according to Dennis Wee Group.

This is also in sharp contrast to the 712 new private homes sold by private developers in February.

March’s strong sales volume came despite the government’s latest round of cooling measures introduced in January this year to curb the Singapore property market.

Analysts said developers’ decisions to hold back property launches in February in view of the festive season and the cooling measures had paid off.

Popular new launches include D’Nest, Bartley Ridge, Urban Vista, Senette Residence and Hillion Residences.

Ong Teck Hui, national director of Research & Consultancy at Jones Lang LaSalle said, “By keeping new supply off the market in February, developers have benefited from a strong demand rebound in March as well as the resultant positive impact on the market. It tells us that notwithstanding the latest measures, underlying demand remains healthy.”

Eugene Lim, key executive officer of ERA Realty Network said more home buyers are flocking to new launches as developers offer promotions and discounts to offset the higher additional buyers’ stamp duties.

“The latest March numbers show that well located projects that are priced competitively will continue to sell well,” he said.

Meanwhile, URA data showed that 1,814 units of new private homes located in the suburbs were sold in March, while developers moved 822 units in the fringes.

But the number of new private homes sold in the city dipped slightly to 157 units.

Mohd Ismail, CEO of PropNex, said, “Moving forward, the private property market is expected to remain subdued as the full impact of the property cooling measures is yet to be seen. Sales volumes are likely to stabilise. Transactional volumes are expected to be around 1,400-1,600 units per month on average for the first half of 2013 as the incentives and discounts are still being offered by developers.”

Source : Channel NewsAsia – 11 Apr 2013

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Jones Lang acquires Credo Real Estate

Posted on 26 Jul 2012 | Comments Off on Jones Lang acquires Credo Real Estate

Property consultancy Jones Lang LaSalle (JLL) today announced its acquisition of property advisory firm Credo Real Estate.

Karamjit Singh, Credo’s Managing Director, said he hopes the move will help his company increase market share both locally and overseas.

“The key driver behind this deal was the culture and values that we share with Credo; we are a people business and our success is based around skills and relationships,” added Chris Fossick, Managing Director of JLL Singapore and South East Asia.

“The coming together of Credo Real Estate and Jones Lang LaSalle strengthens our already strong and established teams, by providing us with even greater talent and the ability to successfully serve our clients,” he noted.

Moving forward, Singh will head the Singapore Capital Markets and Collective Sales teams and will be responsible for JLL’s Singapore residential sales.

The integration of the business lines and teams, along with a full rebranding of all business activities is expected to start on 1 September 2012.

Source PropertyGuru – 2012 Jul 26

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