{"id":71705,"date":"2017-11-14T09:56:58","date_gmt":"2017-11-14T02:56:58","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/land-sales-to-hit-14b-a-sign-of-property-market-resurgence\/"},"modified":"2017-11-14T10:03:46","modified_gmt":"2017-11-14T03:03:46","slug":"land-sales-to-hit-14b-a-sign-of-property-market-resurgence","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/land-sales-to-hit-14b-a-sign-of-property-market-resurgence\/","title":{"rendered":"Land sales to hit $14b, a sign of property market resurgence"},"content":{"rendered":"


\nPearlbank Apartments in Outram is a 37-storey horse-shoe shaped building that comprises 280 apartments and eight commercial units. (Photo: Colliers International)
\nMore than $3.3 billion worth of land deals, including en bloc sales, are expected to be completed in Singapore during this quarter, boosting the total for the whole year to $14 billion, reported Bloomberg, citing data from Cushman & Wakefield Inc.
\nThis is the highest figure since 2011, said the property consultancy, adding that this indicates that the city-state\u2019s real estate sector is set to recover significantly by next year.
\n\u201cSingapore\u2019s residential and office market has passed its inflecion point, embarking on an exciting recovery journey,\u201d said Cushman & Wakefield\u2019s Research Director Christine Li.
\n\u201cWith brighter economic prospects and improved market sentiment in the next two to three years, developers are increasingly sourcing land sites to ride the wave of growth for the rest of the decade.\u201d
\nAmong the top land deals set to be closed in Q4 2017 is the \u2018Reserve List\u2019 site in Jiak Kim site formerly occupied by iconic nightclub Zouk. Zoned residential with first-storey commercial use, the site has a maximum gross floor area of 51,231 sq m and can yield 525 houses.
\nThe government is offering the land for a minimum bid price of $689.353 million, but Cushman & Wakefield estimates that it could fetch $870 million.
\nAnother is the anticipated collective sale of the 288-unit Pearlbank Apartments in Outram for a reserve price of $728 million. This translates to a land cost of $1,505 psf ppr after factoring in a $195 million premium for topping up the lease for the site with a GFA of around 57,000 sq m.
\nIn addition, the 33,358 sq m Reserve List site in Fourth Avenue is expected to yield about 445 homes. The state is selling it for at least $448.8 million, but Cushman & Wakefield believes that the winning buyer could get it for $505 million.
\nThe public tender for the Jiak Kim and Fourth Avenue sites will close on 5 December, while the Pearlbank Apartments en bloc sale is expected to be transacted by year-end.
\nMeanwhile, experts from BNP Paribas, Morgan Stanley and UOB Kay Hian forecast that residential prices here could increase by up to 10 percent in 2018.
\nJLL Singapore\u2019s Research Head Tay Huey Ying is also confident that residential units and Grade A office space in the city-state will remain sought-after by investors next year.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Land sales to hit b, a sign of property market resurgence<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Pearlbank Apartments in Outram is a 37-storey horse-shoe shaped building that comprises 280 apartments and...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-71705","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-iEx","jetpack-related-posts":[{"id":123818,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-property-investment-to-grow-by-20-per-cent-next-year-led-by-hotels-serviced-apartments-says-cushman\/","url_meta":{"origin":71705,"position":0},"title":"Hong Kong property investment to grow by 20 per cent next year, led by hotels, serviced apartments, says Cushman","date":"December 15, 2021","format":false,"excerpt":"\r Hong Kong will see property investment grow by a fifth in 2022, with hotels and serviced apartments set to become investors\u2019 main acquisition target, according to Cushman & Wakefield.There will be 200 major transactions next year valued at around HK$100 billion (US$12.81 billion), the highest since 2018, according to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101290,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fragrance-group-subsidiary-buys-waterloo-apartments-for-131-1m\/","url_meta":{"origin":71705,"position":1},"title":"Fragrance Group subsidiary buys Waterloo Apartments for $131.1m","date":"November 15, 2018","format":false,"excerpt":"\r Fragrance Group plans to develop the 14,369 sq ft site into a hotel. (Photo: Cushman & Wakefield) Waterloo Apartments, a 30-unit residential development at 64 Waterloo Street within the Bras Basah\/Bugis area, has been sold en bloc for $131.1 million to a fully-owned subsidiary of Fragrance Group, reported the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115604,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-sector-dominates-investment-sales-in-q1-2020\/","url_meta":{"origin":71705,"position":2},"title":"Residential sector dominates investment sales in Q1 2020","date":"April 14, 2020","format":false,"excerpt":"\r Cushman & Wakefield attributed the surge in volume to the award of various residential Government Land Sales sites in Q1 2020.\u00a0 Singapore saw property investment volume remain muted in the first quarter of 2020 at $3.02 billion, down 37% from the previous quarter, revealed Cushman & Wakefield. The residential\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120714,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/investment-in-hong-kong-non-residential-property-set-to-double-to-almost-us13-billion-this-year-cushman-says\/","url_meta":{"origin":71705,"position":3},"title":"Investment in Hong Kong non-residential property set to double to almost US$13 billion this year, Cushman says","date":"July 16, 2021","format":false,"excerpt":"\r Big-ticket investment in Hong Kong property is set to more than double this year and rise up to HK$100 billion (US$12.9 billion), the highest since 2018, as local investors and international funds make a beeline for non-residential properties.The number of non-residential sales worth more than HK$100 million each is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120012,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-residential-investment-volume-doubles-in-q4-2020\/","url_meta":{"origin":71705,"position":4},"title":"Singapore residential investment volume doubles in Q4 2020","date":"January 15, 2021","format":false,"excerpt":"\r Singapore residential investment volume doubles in Q4 2020Singapore\u2019s full-year property investment\u00a0tally stood at $23.7 billion in 2020, revealed a Cushman & Wakefield report. Singapore saw total property investment volume for the fourth quarter of 2020 hit $3.33 billion, while the full-year investment tally stood at $23.7 billion, revealed a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/singapore-prime-districts-1.jpg?fit=810%2C421&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":88231,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/goldhill-shopping-centre-in-novena-on-sale-for-425m\/","url_meta":{"origin":71705,"position":5},"title":"Goldhill Shopping Centre in Novena on sale for $425m","date":"May 15, 2018","format":false,"excerpt":"\r The asking price works out to a land rate of about $2,597 psf per plot ratio. (Photo: Cushman & Wakefield) Goldhill Shopping Centre in Novena has been put up for en bloc sale with a reserve price of $425 million \u2013 making it this year\u2019s first full commercial collective\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/71705"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=71705"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/71705\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=71705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=71705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=71705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}