THE Prospex, a nine-storey retail and office building next to Bugis+, is back on the market, this time with an indicative guide price "in excess of S$70 million". This appears to be lower than the S$80 million asking price when the building was previously put up for sale on an en bloc basis through an expression of interest (EOI) exercise that closed in October 2015. The big difference this time...
General
THE first month of 2017 saw a continued momentum in the high-end residential property segment, with resale prices in the Core Central Region (CCR) making a 1.9 per cent rise from a month ago and 2.7 per cent increase from a year ago, based on SRX Property estimates. This helped to lift SRX Property's overall resale index for the private residential market by 1.1 per cent month on month in January...
THE Real Estate Developers' Association of Singapore (Redas) is urging the government to review property tax for vacant private land, and exempt property tax for land under or slated for development or buildings undergoing renovations. Among other key suggestions, it is asking the government to offer more transparency in valuation when it comes to computing development charges to top up lease tenures as...
HATTEN Land Limited said on Friday that it has entered into a non-binding memorandum of understanding (MOU) with the founding Tan brothers to acquire four land parcels and a company that owns development rights in Malaysia. Those targeted four plots of leasehold land in Melaka range from 2.05 acres to 66 acres (0.83 hectare to 26.7 hectares), of which two have obtained development order approval. The...
THE Real Estate Developers' Association of Singapore (Redas) is urging the government to review property tax, improve transparency in the property valuation process, and reduce business costs and regulatory fees. It is also asking for special training grants to enhance maintenance skills and technical expertise among building maintenance engineers and technicians. The association's president,...
HDB resale prices fell 0.3 per cent in January compared to December, while transactions fell 13.9 per cent to about 1,174 flats resold, according to data from SRX Property released on Thursday. Consultants called the drop a blip and believe that prices of HDB resale flats are still continuing to stabilise. As for the double-digit drop in transaction volume, it could be due to the large supply of...
Cel Development on Thursday announced that it will be launching a 720-unit residential condominium that's just a minute's walk from Tanah Merah MRT station via a linkway, hoping to draw buyers at an average pricing of S$1,350 per square foot (psf). The property development arm of listed Chip Eng Seng Corporation said that Grandeur Park Residences, which will sit on 24,394 sq m of land, comprises 96...
A 99-YEAR leasehold private housing site along West Coast Vale has attracted nine bids at a state tender that closed on Thursday. The top bid of S$291.99 million or S$591.51 per square foot of potential gross floor area came from China Construction (South Pacific) Development Co. It was just 0.7 per cent above the second highest bid of S$289.9 million or S$587.28 psf ppr by MCC Land...
RESALE prices and volume of Housing and Development Board (HDB) flats decreased in January compared to December 2016, according to a SRX flash report released on Thursday. HDB resale prices fell 0.3 per cent month-on-month. The resale prices of HDB 3-room and 4-room flats went down by 0.6 and 0.5 per cents, respectively. Those of HDB 5-rooms and HDB executive flats went up by 0.4 and 0.9 per cent,...
The team led by KCAP Architects&Planners is to develop the detailed master plan for Jurong Lake District, the Urban Redevelopment Authority (URA) announced on Wednesday (Feb 8). The team's proposal received the highest score among those of the five teams shortlisted for stage 2 of the Jurong Lake District request for proposal (RFP) exercise, the agency added in its press release. URA said KCAP's...