MCL Land is a leading developer with Singapore and has an extensive array of properties under its belt. A member of the Jardine Matheson Group under Hongkong Land Holdings, MCL Land has continue to develop quality homes in Singapore and Malaysia over the past 40 years.
MCL Land Lake Grande
Its extensive knowledge of developing properties in Singapore also means that MCL Group is also not new in developing prime residential properties in Singapore. Some of the landmark projects by MCL Land beside Lake Grande include the neighbouring Lakeville which is due for completion in 2018.
According to a consultancy specialist, as quantitative easing begins to be relaxed and the US Fed rate increase approaches, prime properties will continue to attract shareholders and high net worth investors.So, the main area of uncertainty lies not with the fate of the Eurozone or Greece, but with the decline of the Chinese economy.
There is evidence to believe that eminent condo properties are being offloaded at prices which are much more similar to the average market figures for ultra-luxury residential lots. Thus, there can be seen a small increase in the index on last quarter.On the other hand, these exchanges are still few, because focus on luxury residential lots remains small as a result of ABSD (additional buyer stamp duty) and turbulent market performance.
The perpetual price dips for luxury homes in Singapore are in line with dips in prices for non-landed residential lots within the Core Central Region. Here, prices dropped for the tenth quarter in a row, according to Urban Redevelopment Authority figures.At the close of the third quarter, luxury property prices stood at around 34.1% beyond the lull of 2009. However, the annual rate of expansion fell by 7% to 91%, over a two year period.
There has been a lot of debate over whether or not the time is right to remove the Additional Buyer’s Stamp Duty, with one common argument against this being a fear that to do so would undo all of the stabilization that has been the effect of property cooling measures. The worst case scenario that is feared is that speculators from overseas would flood into the property market causing home prices to be driven to levels that would then be unaffordable.
Jurong West Street 41 New Condo
MCL Land continues to streamline its operations in an effort to bring in more equality for its stakeholders as well as its investors.