Savills Singapore Property Digest 16 February 2011

[Keegan Aw @ Savills, SG]

Hi Mates

 

Fyi

 

Regards

Keegan Awyang

Division Head

(K-Group)

Savills Residential Pte Ltd

CEA Reg. No.: R029192J

Mobile: 8382-6838

 

---

From: Savills Singapore Newsletter [newsl...@savills-asia.com]
Sent: Wednesday, February 16, 2011 11:47 AM
To: Keegan Aw @ Savills, SG
Subject: Savills Singapore Property Digest 16 February 2011

Singapore Property Press Digest 16 February 2011 Property Search Property Showcase Services Research News About Savills Press Digest SINGAPORE STOCK MARKET: STRAITS TIMES INDEX CLOSE: SINGAPORE INTEREST RATE: PRIME RATE: 3-MTH SIBOR: 15 February 2011 3,080.66 (-23.76) 15 February 2011 5.38% 0.44%       Private home sales down 11% in January - BT (Pg 2), ST (Pg A6), Today (Pg 1), Zaobao (Pg 2) The latest numbers released by the URA yesterday showed that developers here sold a total of 1,189 private homes in January – down 11% from 1,332 units in December – as measures to cool the property market rained on the home-buying parade. Some market watchers expect the new rules to continue exerting pressure on sale. It was reported that some 52 units across more than 10 projects did not go through in January. The brakes might be applied when interest rates start to rise and an increase in supply enters the market in the next few quarters from the recent government land sales, said Ms Christine Sun, senior manager at Savills Research & Consultancy. 'As it stands, the cumulative units launched but unsold have been increasing over the past few months, indicating that supply has already started to outstrip demand.Therefore, some downward pressure on mass-market home prices could be expected in the months ahead,' she said.       Top bid of S$1.02 billion for Punggol mixed used site - BT (Pg 10), ST (Pg B25), Zaobao (Pg 1) It was reported Frasers Centrepoint, Far East Organization and Japan’s Sekisui House, jointly submitted the highest bid of S$1.02 billion or S$753 per sq ft per plot ratio (psf ppr) for a mixed use site in Punggol. They plan to build a waterfront development with around 680 homes and a 365,000 sq ft retail mall if the site is awarded to them.       More are living in bigger homes - BT (Pg 10), ST (Pg A4), Today (Pg 4), Zaobao (Pg 4) According to the latest Census of Population in 2010, the proportion of resident households in Singapore living in condominiums and private flats climbed to 11% in 2010 from 6.3% in 2010. 25% were living in HDB three-room or smaller flats in 2010 down from 31% in 2000. HDB four-room flats remained the most common housing type at 32%. In the meantime, the average household size declined from 3.7 persons in 2000 to 3.5 persons in 2010. Households with 3 or fewer persons constituted a growing share of resident households. The median monthly household income from work increased from S$3,638 in 2000 to S$5,000 in 2010 at an average annual rate of 3.2 per cent (1.6 per cent in real terms).       Singapore fifth most expensive in expat rentals - BT (Pg 10), Zaobao (Pg 26) The latest ECA International report has ranked Singapore as the fifth most expensive location in the world for expat accommodation. The report was based on rents for 2-bedroom apartments that are commonly preferred by expats. Rentals rose by 15% to US$2,810 in 2010.       Fusionopolis Phase 2A starts - BT (Pg 10), ST (Pg B25), Zaobao (Pg 26) JTC Corporation has started the development of phase 2A of its Fusionopolis at One North, which will house several research institutes as well as private companies within the complex. Located at the junction of Fusionopolis Way and Ayer Rajah Avenue, Towers A and B in phase 2A will comprise 18 storeys and 11 storeys respectively. Fusionopolis Phase 2A will include a multi-storey business park, wet/dry laboratories and office areas built on a 1.04ha site with an approximate gross floor area of 904,168 sq ft. For further information please contact: Jessie Yeo Michael Lim   Executive Director Consultancy & Valuation Savills (Singapore) Pte Ltd +65 6415 7580   Contact   Corporate Communications Manager Central Management Savills (Singapore) Pte Ltd +65 6415 7579  Contact     You are receiving this email because you have given your consent to receive email communications from Savills plc and its group of companies about new products and services we offer. If you wish to unsubscribe from future editions of this email bulletin please use the unsubscribe functionality below. Alternatively, if you wish to unsubscribe from all future Savills email communications please send an email to newsl...@savills-asia.com All content © copyright 2010 Savills. All rights reserved.

********************************************************************** Any views expressed in this message are those of the individual sender, except where specifically stated to be the view of Savills plc, its subsidiaries or associates. When addressed to our clients, any opinions or advice contained in this eMail are subject to the relevant Savills terms of business. Such electronically transmitted opinions or advice should not be relied upon unless subsequently confirmed by fax or letter. NOTICE: This eMail is intended solely for the named recipient only. It may contain privileged and/or confidential information. If you are not one of the intended recipients, please notify the sender immediately, and destroy this eMail; you must not copy, distribute or take any action in reliance upon it. Whilst all efforts are made to safeguard Inbound and Outbound eMails, Savills cannot guarantee that attachments are Virus-free or compatible with your systems and does not accept any liability in respect of viruses or computer problems experienced. **********************************************************************