11th December, Tuesday
Residential
Whitley Residences, The Village previewed Source: Business Times At least two freehold residential projects were rolled out last week. Hoi Hup sold 19 freehold cluster homes at The Whitley Residences at about $5 million each during a preview on Sunday. The average price is about $850 per sq ft (psf) on strata area - after a 12 per cent discount and absorption of the standard 3 per cent buyer's stamp duty. A Hoi Hup spokeswoman said all buyers of the 19 units sold in The Whitley Residences were Singaporeans. The units sold comprise a corner terrace and 18 semi-detached houses. The semi-Ds fetched $4.9 million (for a unit with a strata area of 6,125 sq ft) to $5.12 million (for a 6,071 sq ft unit). The 6,620 sq ft corner terrace sold for $4.85 million. The project comprises 58 semi-Ds and three terrace homes - all with five bedrooms. Strata areas of the semi-Ds are 5,156 sq ft to 7,190 sq ft. Strata area includes car parking area, private enclosed space lift, void areas and roof terrace. For its preview, Hoi Hup released 27 semi-Ds and all three terrace units. Selangor Dredging is said to have moved 40-plus units at its 148-unit five-storey condo, Village at Pasir Panjang. The average price is understood to be around $1,650 psf for typical apartments, which do not have private enclosed space or roof terrace. In the executive condo (EC) segment, Kheng Leong has sold 230 units at The Topiary in the Seletar location. The average price is said to be around $720 psf. All 16 penthouses in the development were snapped up in the first one- and-a-half hours. Priced at between $1.3 million and $1.5 million, the penthouses range from 1,970 sq ft to 2,476 sq ft. From 21 to 26 December, Hao Yuan Investment is expected to accept e-applications for Forestville EC at Woodlands Avenue 5 - next to the completed La Casa EC. The average price is expected to be above $700 psf. Forestville will have two to five-bedroom apartments. Dual-key units will make up 30 per cent of the 653 units. In addition, there will be 29 penthouses - ranging from 1,550 sq ft to 2,756 sq ft. Hao Yuan is offering "a holiday bonanza" package to draw buyers. It will absorb the first-year maintenance fees. It has also tied up with StarHub to offer fibre-optic broadband service, a basic cable TV package and a fixed-line service - all free for the first three years.
Link to the story: http://www.businesstimes.com.sg/print/360605
S'pore property investors move across Causeway for new opportunities Source: Channelnewsasia Singapore property investors are now moving across the Causeway in search for new opportunities. This has caused residential property prices in Johor's Iskandar region to climb almost four fold since they were launched some 5 years ago. With more attractions coming up in the area, experts say demand for properties there are going to jump higher. Rising property prices in Singapore is another push factor. Some analysts say Singapore investors would be better off investing in landed properties in Iskandar than buying a shoebox apartment here. Data from the Iskandar Regional Development Authority shows that total foreign investments in the area rose to RM37 billion (S$14.8 billion) as at September 2012, from RM22 billion (S$8.8 billion) in 2008. Singapore is also the largest single foreign investor in Iskandar with more than RM5 billion in investments since its inception in 2006.
Link to the story: http://www.channelnewsasia.com/stories/singaporebusinessnews/print/1242069/1/.html
Investment Sales
DBS spending $1b for stake in new home Source: Business Times DBS Group Holdings is buying a 30 per cent stake in the building which houses its headquarters for over $1 billion to help manage its rental cost. In a statement Monday, the bank said it is buying the 30 per cent interest in Marina Bay Financial Centre Tower 3 from a joint venture of Hong Kong's Hutchison Whampoa and Cheung Kong groups for $1.035 billion. The Hong Kong companies are controlled by Li Ka Shing, Asia's richest man. MBFC Tower 3 is an award-winning 46-storey international Grade A office building with about 1.35 million square feet of net lettable area. DBS is the anchor tenant, occupying more than 600,000 sq ft across 18 floors. The building is owned by Central Boulevard Development Pte Ltd (CBDPL), a private company which is owned in equal one-third shares by the vendor, an indirect unit of Hongkong Land and a subsidiary of Keppel Land Properties Pte Ltd, the statement said.
Links to the story: http://www.businesstimes.com.sg/print/360383 http://www.straitstimes.com/st/print/664526 http://www.todayonline.com/Print/Business/EDC121211-0000031/DBS-buys-Marina-Bay-tower-stake-for-S$1b http://www.channelnewsasia.com/stories/singaporebusinessnews/print/1241975/1/.html
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