Singapore investors ploughed more capital into real estate in the Asia-Pacific last year than a year earlier, with land and offices topping their list of purchases, even as their acquisition fervour back home continued to ease. Outbound real estate investments in the region by Singapore investors rose 31.8 per cent to US$9.7 billion, while domestic investments slipped 20.7 per cent to US$4.8...
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A boutique prime freehold residential development site in District 10 will come on the market when the collective sale of One Tree Hill Garden is launched within the next week. BT understands that the reserve price in the collective sale agreement signed by the majority owners of the three-storey walk-up apartments is about S$70 million. This translates to S$1,792 per square foot based on the land area...
The five-storey Serangoon Plaza will soon be torn down to make way for a new commercial development, said property group Tong Eng on Tuesday (Jan 10). Tenants have been told to move out by the end of this month, Tong Eng said, adding that all tenants have said they will be able to meet the deadline. Mustafa, Singapore’s biggest 24-hour mall, has a branch at Serangoon Plaza and is the largest tenant...
RENTALS for private homes are taking a hit over the huge supply of condominiums and apartments available for rent and the business uncertainty among corporates. In December, rents fell by 1.3 per cent from the previous month, going by the SRX Property price index for non-landed private rentals released on Wednesday. This was driven by rental slides in the Core Central Region (city area) and Rest of...
BULLISH bids poured in for the first tender closing of 2017. But property consultants can't decide among themselves if it is a sign of market optimism or developers' need for work. Construction company Low Keng Huat beat 10 other competitors with its unexpectedly bullish bid for a residential site along Perumal Road which comes with first-storey commercial space. At a tendered sale price of S$174.08...
SINGAPORE'S property agency industry continues to shrink as more agents throw in the towel and smaller agencies close shop amid keen competition in a tepid market, with technological disruptions also nibbling at the transactions pie. Following the latest licence renewal exercise, the number of licensed property agencies fell to 1,286 as at Jan 1, 2017, a 6.1 per cent drop from 1,369 a year ago, and the...
For the second consecutive year, the prime area or Core Central Region (CCR) has outperformed the rest of the island in terms of resale prices for non-landed private homes, according to latest data from SRX Property. Moreover, the volume of resale transactions of private apartments and condos in CCR rose 52.5 per cent to 2,048 units last year - a faster clip than the increases of 24.2 per cent in the...
RESALE prices of non-landed private homes in Singapore rose 0.4 per cent month on month in December 2016 based on SRX Property's flash estimate. This follows a 0.5 per cent gain in November 2016. In December 2016, prices climbed 1.2 per cent in the suburbs or Outside Central Region (OCR) but eased 0.5 per cent in the city-fringe or Rest of Central Region (RCR). In the prime area or Core Central Region...
The land under the West Coast Viaduct is now available for short-term lease, announced the Singapore Land Authority (SLA) on Monday (Jan 9). “We are constantly looking into ways to creatively adapt state land and properties for interim use," said SLA's chief executive, Tan Boon Khai, adding that the space has been fitted with "electricity as well as modular structures to facilitate the piloting of new...
Maxwell Chambers, which houses the world's first integrated dispute resolution centre, will be tripled in size to bolster Singapore's position in this aspect of legal practice. A total of 120,000sqf will be added by taking over the adjacent Red Dot Traffic Building which is home to the Red Dot Design Museum, announced the Ministry of Law (MinLaw) on Thursday (Jan 5). The Singapore International...