Tag Archives: Madison Residences

Keppel Land’s Q3 profit up 70% to S$78.5m

Posted on 21 Oct 2009 | Comments Off on Keppel Land’s Q3 profit up 70% to S$78.5m

Mainboard-listed developer Keppel Land said its third quarter net profit surged 70 per cent to S$78.5 million as property markets across Asia strengthened amid signs of an economic recovery.

Sales rose 22.6 per cent to about S$228 million for the three months ended September.

Capitalising on the improving market sentiment, Keppel Land launched Madison Residences and Caribbean Residences as well as soft-launched the Promont in the third quarter.

It said all developments enjoyed a strong take-up. More than 80 per cent of the 56 units at Madison Residences and 92 per cent of the 118 units launched at Caribbean Residences were sold.

This brings the total number of homes that Keppel Land sold year-to-date in Singapore to 240. Continue reading →

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Luxury apartment sector feels the rush

Posted on 15 Oct 2009 | Comments Off on Luxury apartment sector feels the rush

More deals clinched as sentiment improves, foreign buyers sniff around

Luxury apartment deals picked up in the second and third quarters of this year as a more cheerful mood spread to the upper realms of the private residential market.

The number of apartments priced above $4 million changing hands rose rapidly from just 15 deals in the first quarter of this year to 87 in Q2 and 210 in Q3.

The total of 312 apartments in this price range sold in the first nine months of this year are 11 per cent more than the 280 transacted for the whole of 2008, which was generally a quiet year for the Singapore residential market following the global financial crisis, notes CB Richard Ellis (CBRE). It analysed caveats information from URA’s Realis system up to Oct 12.

During 2007 – the peak year for the luxury housing market – a total 1,740 apartments were sold at over $4 million each. Continue reading →

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Posted in Luxury Property, Property Market / Real Estate, Property Price, Sentosa Property

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