General

Even as Singapore is experiencing its worst economic downturn, eight government-built flats still sold for above S$1 million in the resale market in September. A report by real estate portal SRX on Thursday (Oct 8) showed that this includes one five-room Housing and Development Board (HDB) flat at The Pinnacle@Duxton in Tanjong Pagar, which sold for S$1.258 million. It is believed to be a record...

Prices of Housing Board (HDB) resale flats increased for the third consecutive month in September, with demand remaining elevated after the nearly two-month-long circuit breaker period. HDB resale prices rose by 0.8 per cent in September compared with August, and was 3.1 per cent higher than the previous year. However, they are still 11.4 per cent lower than their peak in April 2013. In all, 2,489...

A Good Class Bungalow (GCB) within the Caldecott Hill Estate has been put on the market via an expression of interest (EOI) exercise. Exclusive marketing agent SRI told The Business Times (BT) that the indicative price stands at S$27 million. This is a trustee sale - a tender on behalf of the trustees of the estate. Located at 204 Lornie Road in District 11, the freehold property sits on a land area...

A freehold residential redevelopment site at 1C Evelyn Road in District 11 is up for sale via expression of interest with a guide price of S$20 million, sole marketing agent JLL said on Wednesday. This translates to about S$1,467 per square foot (sq ft) per plot ratio based on a 9,873 sq ft site with a gross plot ratio of 2.8, inclusive of development charge. The land plot is zoned for residential...

A freehold strata-titled storage facility at 50 Tagore Lane has been put on the market via expression of interest with an indicative price of S$100 million, marketing agent Cushman & Wakefield said on Wednesday. The property comprises individual units with separate strata titles. It is being offered for sale together with an opportunity to buy the self-storage business of the seller, EBC Lifestyle...

Leasing activity for Grade A offices in Singapore came to a halt during the "circuit-breaker" period and remained sluggish during the third quarter this year, according to a press statement by Cushman & Wakefield (C&W) on Tuesday. In the face of business uncertainty, tenants with immediate lease expiries are seeking short-term renewals. And with office space underutilised as work from home remains the...

Leasing volume for multiple-user factory spaces in Singapore dropped 34.4 per cent on the year to 1,577 transactions in July and August, amounting to S$5.7 million, Knight Frank said on Tuesday. This comes as strong challenges faced during the Singapore "circuit breaker" period and economic uncertainties continue to subdue substantial movements in the leasing market, the real estate consultancy said in...

Flat owners may have their flats seized by the Housing Board (HDB) if they intentionally make misleading or false statements when transferring flat ownership, following changes to a law that Parliament passed on Tuesday (Oct 6). Currently, such compulsory acquisition is allowed only when flat owners deliberately make a misleading or false statements for the purchase of flats, and not for the transfer of...

The Lim Chu Kang area is set to be transformed into a high-tech agri-food cluster, in a move that will strengthen Singapore’s food security and also create jobs for Singaporeans. The Singapore Food Agency (SFA) announced the master plan exercise on Friday (Oct 2), saying that the redeveloped Lim Chu Kang agri-food cluster should be able to produce more than three times its current food production when...

Private home prices in Singapore rose by 0.8 per cent in the third quarter from the previous quarter, according to flash estimates released by the Urban Redevelopment Authority (URA) on Thursday (Oct 1). The private residential property index rose by 1.2 points, from 152.6 points in the second quarter to 153.8 points in the third quarter. The increase is slightly more than the 0.3 per cent rise...