Take a peek at the S$8 million showflat. (PropertyGuru)

High prices for private homes in Singapore are nothing new. But with an S$8 million showflat and an average unit price of S$1,330 psf, we felt compelled to ask the developer of Thomson Grand: Why?

Located in the Upper Thomson area, Thomson Grand is Hong Kong property developer, Cheung Kong Holdings Pte Ltd's (CKH) latest Singapore project and since its launch, the response has been overwhelming. PropertyGuru reporter Cheryl Tay sat down with Cannas Ho, sales manager of CKH, and got her to spill the beans on Thomson Grand's unique features, buyer profile and more.

Q. There's been a lot of talk about Thomson Grand's S$8 million show flat. Why spend so much and what's the feedback been like from the public?

A. When we first saw this piece of land, we felt that it was very unique. It has open views of Singapore Island Country Club (SICC) and a lot of greenery. From the beginning, we'd planned to build a luxurious residence here. In order to achieve that, we needed to present it such that

Property seekers are increasingly concerned about 'affordability', and want the government to take further action, says PropertyGuru CEO Steve Melhuish.

By Romesh Navaratnarajah

Home buyers and property investors are less optimistic about Singapore's property affordability in the second quarter as compared with the previous quarter, according to a survey conducted by PropertyGuru, the country's leading property site.

79 percent of the total respondents observed that Singapore property in all categories are expensive, up from 75 percent in last quarter's survey.

"Our latest quarterly survey gives an interesting insight into current sentiment towards the property market. Whilst consumers remain bullish about rising market prices, they are increasingly concerned about 'affordability', adopting a 'wait and see' approach and want the government to take further action," said PropertyGuru CEO Steve Melhuish on Thursday during a presentation of the survey results.

First-time buyers

The survey was conducted last month and included more than 2,200 respondents. For the first time, the survey had a separate analysis on first-time home buyers,

The Danish Seamen's Church. (iProperty)

By Daniel Seifert

One of Singapore's many historic mansions recently celebrated its 100th birthday. Constructed in 1909 and finished in 1910, the Danish Seamen's Church, located on Mount Faber, is recognisable by its red-and-white façade and unusual combination of styles.

The two-storey bungalow has been known as the Seamen's Church since 1985, but when it was first built it was known as Golden Bell Mansion, a sumptuous private residence owned by Tan Boo Liat. He named the house after his grandfather, Tan Kim Ching, whose name translates to Golden Bell. Boo Liat was the great-grandson of Tan Tock Seng, one of Singapore's richest men and earliest philanthropists. Much of the family's wealth was based on Tan Tock Seng's shrewd business dealings, which saw him owning prime areas of land on the island, including orchards, plantations and shophouses.

Tan Boo Liat was equally successful. An equestrian enthusiast, he owned a stable of racehorses. In 1898, one of the horses, Vanitas, took top

Costly affair for DBSS flat buyer after his wedding was cancelled. (Getty Images)

By Khalil Adis (courtesy of PropertyGuru)

Following the story of a couple who had to pay a hefty penalty for their Design Build and Sell Scheme (DBSS) unit after they broke up, PropertyGuru received an email from a reader who is undergoing a similar experience.

John (not his real name), had bought a DBSS unit for $660,000 in 2008 from a developer under the Fiancé/Fiancée Scheme.

John was supposed to submit his marriage certificate by 20 April 2011.

However, due to unforeseen circumstances, he is now unable to continue with the purchase as he has since broken up with his fiancée, who is a foreigner.

With the marriage now cancelled, he is ineligible for the scheme.

In addition, he will now have to pay a penalty of 20 percent of the purchase price.

The amount works out to $132,000.

Despite his appeals to the developer and seeing his MP twice, he was told to get married, failing which the developer will proceed to forfeit his deposit.

John is now harbouring suicidal thoughts as it

The main cause of noise pollution in Singapore is MRT trains. Image courtesy of Calvin Teo.

By Daniel Seifert

While air and water contamination regularly fill media headlines, there is another kind that is affecting cities around the world: noise pollution. As an industrialised, urbanised and economically successful state, Singapore is no exception.

The main culprit is noise from MRT lines that lie close to residences. Developments within the transportation system have focused on putting more trains on the ground, and many residents resent growing noise levels.

In many ways, Singapore is a victim of its own success — the sheer number of skyscrapers means more sound is reflected off them. The taller a building is, the louder a noise will be, as sound travels upwards. Up until roughly 15 storeys, noise levels increase level by level. To combat this, noise barriers can be erected (there is already one built in Jurong). Countries such as Japan, Germany and Australia have installed many in their cities.

While authorities have built walls (such as that in Toa Payoh Lorong 1,

If given the opportunity to own the HDB home of your dreams, with ideal location and facilities, how much COV (cash-over-valuation) are you willing to offer to ensure you secure that property?

By Tracy Chua

Singapore property website iProperty.com.sg revealed in a recent Quick Poll in July that a significant proportion of home buyers were willing to secure their dream property even if it meant paying more than $25,000 in cash-over-valuation (COV) to seal the deal.

Key findings from the survey revealed that:

1. Most survey respondents (63.3 percent) are willing to offer between S$10,000 to S$25,000 in COV to ensure they secure their dream HDB homes.
2. The remaining respondents are willing to offer higher COV for their dream homes, with 16.8 percent willing to offer between S$25,001 to S$35,000, and 6.7 percent are willing to offer between S$35,001 to S$45,000.
3. 13.2 percent of respondents are willing to offer S$45,001 and above.

A total of 327 respondents took part in this online survey from 28 June 2011 to 19 July 2011.

This comes on the heels of recent reports of a Tampines unit at Block 151 of Tampines Street 12 which sold at $150,000 COV, further reinforcing current market

Should we let demand and supply determine property prices or should the authorities step in to dictate it? Image courtesy of Singapore Tourism Board.

By Lisa-Ann Lee

As Singapore's population continues to grow and the amount of land available for property development remains finite, the prospect of demand far outstripping supply (or to be specific, the supply of affordable housing) is becoming a hot-button issue for many Singaporeans concerned with rapidly-rising property prices and the shrinking sizes of flats.

Hot on the heels of the DBSS fiasco comes the news that the owner of a 1,528 sq ft HDB flat in Pasir Ris is putting it on the market for $900,000. This is not the first time that a public housing flat has found itself with such a huge price tag. Last year, an HDB executive maisonette in Bishan was sold for the same amount of money. The 18-year old, 1,860 sq ft flat had a roof terrace, and although it was valued at $730,000, the owner went ahead with an asking price of $950,000. Previously, the record for Singapore's most expensive flat had gone to a 1,614 sq ft flat in Queenstown, which was sold for $890,000 in 2008.

What

Cash-over-valuations are expected to continue increasing despite new supply of Build-to-Order flats. (PropertyGuru)

Following our breaking story on the asking price of $900,000 for an executive apartment in Pasir Ris, PropertyGuru received an exclusive tip-off from a property agent representing Knight Frank.

The agent, who only wants to be identified as Ravin, said he sold an executive mansionette flat at Block 151 Tampines Street 12 in March this year for $772,500.

According to the valuation report, the flat had a market value of $625,000 in December last year.

It was sold above valuation at $147,500 in March this year.

"We were marketing this property over two Sundays and had about 50 plus buyers come for the viewing. Almost half were able to offer COV of more than $100,000," said Ravin.

According to Ravin, the profiles of the potential buyers were Singaporeans in their late 30s to late 50s.

About five were able to offer a COV of more than $125,000.

"These buyers had the cash as most had sold off their landed property, private apartments, or HDB flats with good profits. Most were business