CapitaCommercial Trust (CCT) has decided not to redevelop the Market Street Car Park into a commercial building. The redevelopment is estimated to cost up to S$1.5 billion. CCT said the decision was based on the uncertain market outlook and conditions like tight credit and high redevelopment costs. CapitaCommerical Trust Management CEO, Lynette Leong, said: "In line with our prudent approach to capital...
2009
PROPERTY hunters put aside the gloomy economic outlook last weekend and turned out in force to check out - and even buy - new flats. At Nova 88 in Balestier - likely to be the only new official launch so far this year - about 500 visitors thronged the showflat, said developer Roxy Homes. About 20 per cent of Nova 88's units were sold, with prices ranging from $900 to $990 per sq ft. Some 20 per cent...
A 30-per-cent fall in rental market expected this year TENANTS for office space are beginning to enjoy more bargaining power as increased supply for such commercial property and a weakening economy drive rents lower. This is good news for business owners such as Mr Hu Yinghan. Mr Hu, who runs an events company Apesnap in Chinatown, will be asking for much lower rent when his lease runs out at the end of...
Office occupancy in Singapore is down in the last quarter of 2008 due to deteriorating global financial situation. According to real estate adviser DTZ Research, office occupancy islandwide dropped by two percentage points to 95.6 per cent, compared to the same period last year. This is because of weaker demand as companies shelved expansion plans or relocated to more cost-effective premises. DTZ said...
PUBLIC housing resale prices have stubbornly continued to climb even as private home prices are accelerating downhill and pundits are betting on flat prices still holding firm this year if not seeing a modest single-digit growth, then staying level for the most part. Flash estimates from the Housing and Development Board (HDB) showed that its resale price index grew by 1.5 per cent in the fourth quarter,...
THE comparison rings with foreboding the last time private home prices took a bigger dive than this, it was exactly a decade ago, in the midst of the Asian financial crisis. In the last three months of 2008, the private resident property price index dropped 5.7 per cent, more than double the rate of decrease a quarter ago, according to flash estimates. The final tally due for unveiling in four weeks’...
Prices of private, non-landed residential properties in Singapore fell 5.7 per cent in the last quarter of 2008. The quarter-on-quarter drop in private home prices is more than double the 2.4 per cent decrease in the July-September quarter. Experts said the steep fall is fuelled by deteriorating sentiment. Market players are also matching prices to falling valuations. Nicholas Mak, consultancy and...
AN UGLY spat that has already resulted in a police report lodged against a homeowner is brewing between listed property giant Wing Tai and some foreign investors of its three-year-old luxury condo near Orchard Road. The development, which briefly set a record price of more than $2,000 per square foot when it was launched, has more than 130 units in all. At least 15 unit owners most of them foreigners who...
Location: Alexandra Road (District 3) Tenure: Freehold Year of Completion: 2012 Total Units: 293 Unit Types: 1 bedroom - 114 units (366 to 527 sqft) 1 + study - 43 units (474 to 764 sqft) 2 bedroom - 61 units (527 to 1,033 sqft) 2 + study - 17 units (657 to 1,055 sqft) Penthouse Types: 1 + study - 23 units (764 to 1,076 sqft) 2 bedroom - 9 units (657 to 969 sqft) 2 + study - 10 units (883 to 1,195...