New Jurong buzz triggers red-hot response at condo launch

In an unusual occurrence in today’s lacklustre private residential market, a condominium launch over the weekend drew a red-hot response.

Lake Grande, a 710-unit condo along Jurong West Street that is being developed by MCL Land, released 500 units for sale on Saturday. About 87 per cent of these apartments – or 436 in total – were sold at an average price of $1,368 per sq ft. Continue reading

Ailing property market starting to find its feet?

Amid a slew of property market data released by the Urban Redevelopment Authority (URA) yesterday, one number stood out: the vacancy rate, which hit a 16-year peak of 8.9 per cent in the second quarter. This represents a formidable 30,310 vacant private residential units across the island.

But while high vacancy rates do not bode well for the rental market, this seems to be the one rare area of negativity in a market that is gaining some healthy colour. Continue reading

Prime property market warming up

More activity is afoot in the prime residential market after a recent rise in sales amid competitive pricing and various purchase schemes giving buyers more options.

Developer CapitaLand is testing the strength of the high-end market segment with Victoria Park Villas, at the junction of Coronation and Victoria Park Roads, which goes on VIP preview from today. Continue reading

72% of units at Treasure Crest EC sold at weekend

Sales were brisk at the Treasure Crest executive condominium (EC) showflat over the weekend with nearly 72 per cent of the units snapped up.

Developer Sim Lian Group said 362 out of the 504 homes at the project in Anchorvale Crescent found buyers over the two days, with all 56 four-bedroom units selling out. It said in a statement that most of the buyers are living in the north-east region, mainly Punggol, Sengkang and Hougang. Continue reading

Tee Land unit buys Geylang site for S$20 million

SINGAPORE – Property developer Tee Land announced that Development 35, a unit which it owns 51 per cent of, completed the acquisition of a property at 20 Lorong 35 in Geylang on Monday (July 11).

The site was bought for S$20 million and has an area of about 1,115 sq m.

Development 35 plans to build a block of residential flats and this is subject to approval from the relevant authorities.

The acquisition is not expected to have any material impact on the net tangible assets per share and earnings per share of the group for the current financial year ending May 31 next year.