Meyer Road condo sold en bloc for $69m

The Albracca condominium in Meyer Road has been sold for $69.12 million in an en bloc deal – the fifth done this year.

The owners had hoped for a price from $62 million to $65 million when the tender opened last month.

So the deal they secured from developer Sustained Land, after several bids were lodged, is up to 11.5 per cent above expectations. Continue reading

Dalvey Road freehold condo put up for collective sale at $96m

SINGAPORE – Home owners at Villa D’Este condominium in Dalvey Road are the latest to leap into the resurgent collective sale market.

Owners of the condo in the prime District 10 area have put it on the market for $96 million.

Marketing agent CBRE told The Straits Times yesterday that the asking price works out to about $1,730 psf on the land area of 55,480 sq ft. There is no development charge. Continue reading

Property-bound Singapore capital now prefers home turf

THE capital flight to greener pastures abroad from Singapore has slowed to a trickle, amid a turnaround in the property market at home.

Data compiled by Real Capital Analytics and Knight Frank Research shows that the number of outbound investment deals dwindled to 34 in the first half of 2017. The figure was 144 for last year, and 503 in 2015.

The transaction value of deals done in the first half of the year also slid – to S$6.7 billion, from S$14.6 billion last year and S$37.7 billion in 2015. Continue reading

Eye on Bukit Batok: A green oasis

Other neighbourhoods in the west of Singapore have become very crowded, but Bukit Batok remains a haven of peace.

By Joanne Poh

A stroll around Bukit Batok Central or one of the area’s subzones such as Guilin or Hillview reveals a peaceful residential area swathed in greenery.

With easy access to some of Singapore’s most luxuriant natural spaces, residents enjoy an escape from the hustle and bustle of daily life while still being within easy reach of the lively Jurong East commercial hub. Continue reading

Residential en bloc market picking up steam, but developers cautious: Analysts

Singapore’s residential en bloc market is picking up steam, with this year’s deals already exceeding the combined value of last year’s en bloc transactions. But analysts say developers are still cautious.

SINGAPORE: The residential en bloc market is picking up steam, according to experts – with four successful deals conducted so far this year to the tune of around S$1.5 billion.

This exceeds the combined value of en bloc deals reached in 2016, which saw three en bloc deals valued at more than S$1 billion.

Residential properties that have gone on the en bloc market recently include Pearl Bank Apartments on Jul 8 and former Housing and Urban Development Company (HUDC) estate Serangoon Ville on Jun 21.

Projects that have clinched en bloc deals include other former HUDC estates Rio Casa in Hougang, which was sold in May for S$575 million, as well as Eunosville in Sims Avenue, which was sold for S$765 million – the second-highest price for a privatised HUDC project, after Farrer Court sold for around $1.34 billion in 2007. Both projects were sold above the owners’ asking prices. Continue reading

Woodleigh site draws 15 bids

SINGAPORE – A unit of Chip Eng Seng Corp and Unique Real Estate have put in the top bid for a plum site near Serangoon.

The government land sales site tender attracted 15 bidders, similar to what was expected.

The Woodleigh Lane plot launched on May 30 under the confirmed list for the first half of this year drew a top bid of $700.7 million from CEL Unique Development – 60 per cent owned by Chip Eng Seng Corp and 40 per cent by Unique Real Estate. Continue reading

Pearl Bank Apartments making 4th attempt for collective sale

After seeing a string of collective sales this year, owners at Pearl Bank Apartments are jumping on the bandwagon – for the fourth time.

Owners at the iconic building in Outram have formed a collective sale committee and are asking for a reserve price of $728 million for the 288-unit building.

But the question of whether the distinctive tower will be conserved is still up in the air. Continue reading