|
4th July,
Wednesday
Residential
Private home owners gain from
property rebound
Source: Business
Times
The recovery of
Singapore's property market since 2009 has been a welcome fillip for the
wallets of private home owners.
Based on caveats
lodged, private residential home owners pocketed at least $20.3 billion in
gross profit since the sector recovered in late 2009, explaining robust
developer sales of around $60.1 billion in the period, according to a report.
The report also
noted that actual profit figures would have been higher as gains from
collective sales were not factored into the profit calculations, among
various things.
But overall
profitability has fallen since the first half of last year - when home owners
pocketed more than $4 billion in profit - to $3.2 billion in the second half
of 2011 and $2.7 billion in the first half of this year.
Similarly, the
percentage of unprofitable transactions in the secondary market has also
crept up slightly from one per cent in the latter half of 2011 to 2 per cent
during the first half of this year.
Notably, the top
five most profitable secondary market projects in the first six months of
this year comprised the likes of Serangoon Garden Estate (most profitable
with $59 million in profit realised), The Quintet, Frankel Estate, Seletar
Hills Estate and Trevista, according to data from URA and Square Foot
Research.
On the flip side,
the five most unprofitable projects in the same period included developments
such as Reflections at Keppel Bay (the most unprofitable project, where a
total loss of $7.4 million was realised), St Regis Residences, Latitude,
CityVista Residences and Duchess Residences.
Link to the story:
http://www.businesstimes.com.sg/print/111688
Investment Sales
Landmark Tower up for public
tender
Source: Business
Times
A prime 99-year
leasehold residential site was launched for public tender Tuesday.
Landmark Tower,
located on Chin Swee Road, has a site area of about 60,821 sq ft and is zoned
"residential" under the 2008 Master Plan. The development,
comprising 38 floors and a 360-degree view of the Singapore skyline, also
boasts a plot ratio of around 4.014 based on the property's existing gross
floor area (GFA).
Consultants say
the property is likely to be warmly received at an indicative price range of
$280-288 million, though that excludes a $42 million cost to top up the lease
to 99 years.
Factoring that
in, the indicative prices for the plot would translate to around $1,315-1,355
per sq ft per plot ratio (psf ppr), or $1,252-1,286 psf ppr should a
developer choose to tap the 10 per cent bonus GFA for balcony space.
The tender closes
at 3pm on 7 August.
Link to the story:
http://www.businesstimes.com.sg/print/111689
Industrial
Capital values of industrial
space rising
Source: The
Straits Times
The capital
values of industrial space rose in the last quarter but rents eased as firms
turned cautious about taking on more commitments, according to a new report.
The report said
prices have edged up partly because cooling measures in the residential
sector have diverted some investors to the once unglamorous market of industrial
real estate.
Benchmark prices
have also been set in new project launches.
The freehold
project AZ@Paya Lebar, for example, has units priced above $1,000 per sq ft,
more expensive than even some residential developments.
Prices in the
secondary market for first-storey industrial space increased 4 per cent to
$577 psf in the three months to 30 June, compared with the first quarter,
while upper-storey prices rose 4.9 per cent to $430 psf.
Rents tended to
go in the other direction, with rates falling for business park and high-tech
industrial space although they held firm for conventional industrial sites.
Average rents for
business parks and high-tech space dipped 0.7 per cent quarter-on-quarter to
$4.35 psf per month while conventional industrial rents on upper storeys were
unchanged at $1.75 psf per month.
Rents are tipped
to keep falling, given the slowdown in economic growth, which will only
compress yields further.
Links to the story:
http://www.straitstimes.com/print/Money/Story/STIStory_818169.html
http://www.businesstimes.com.sg/print/111712
|