Category: Singapore Property Market News

Teo Hong Lim, the executive chairman of Singapore-listed property giant Roxy-Pacific Holdings, grew up in the Geylang neighborhood in the 1970s. Teo Kok Leong, the company’s founder, has been a real estate developer since 1958. The older Teo used to run his company from the ground floor of a three-story building in Geylang’s Lorong 12 while his family lived above.

CanningHill Piers’ joint developers, CapitaLand Development and City Developments Ltd (CDL) , revealed today that 538 of the project’s 696 flats have been sold as of 6 p.m. today. With total sales of almost $1.18 billion, this takes the sales rate to 77 percent. The average selling price per square foot attained was roughly $3,000 per square foot.

The Ministry of National Development (MND) in Parliament on Tuesday noted that new Housing and Development Board (HDB) units and resale flats remain cheap since Singaporeans’ wages have typically kept pace with their costs over the last several years.

According to the Urban Redevelopment Authority’s statistics, 7,169 of these purchasers purchased resale and new condos in the first three quarters of 2021, up more than 21% over the same time the previous year.

During the third quarter of 2021, the sale of a 6,577 sq ft apartment at Yong An Park in District...