AS expected, the Singapore dollar fell and local interest rates rose on Thursday following the interest rate hike by the US Federal Reserve. The Fed raised the target range for its federal funds by 25 basis points to 0.5 per cent to 0.75 per cent during its Dec 14 meeting. At 8.30am on Thursday, one US dollar was worth S$1.4432, up 1.4 per cent from its close on Wednesday of S$1.4237, said Reuters....
General
Developers have already sold more new, private residential units and executive condominiums (ECs) so far this year than the whole of last year, thanks to the momentum sustained in November when two new projects were launched. This means 2016 will mark the highest number of new sales by developers in three years. A total of 7,769 private residential units were sold by developers in the first 11 months,...
Ride-hailing giant Uber Technologies Inc is expanding its footprint in a big way in Singapore. BT understands that it has leased about 55,000 sq ft on Levels 35 and 36 of Guoco Tower. This is more than double the 20,000 sq ft that Uber is currently leasing at the nearby Mapletree Anson, where Uber's Asia-Pacific regional office is based. Sources say that for the past month or so, Uber has been...
The Housing & Development Board (HDB) will launch about 17,000 new flats for sale to Singaporeans in 2017, about 5 per cent fewer than the 17,900 build-to-order (BTO) flats launched in 2016. National Development Minister Lawrence Wong said in his blog post on Wednesday: "We are gradually tapering supply but still ensuring a healthy pipeline to meet demand. Once again, we will offer a good spread across...
SINGAPORE residential sales clocked by developers in November were stronger than a year ago but weaker compared to October, according to statistics released by the Urban Redevelopment Authority (URA) on Friday. Last month, developers sold 860 private residential units, 31.4 per cent lower than October, but 13.3 per cent higher than a year ago. Including executive condominiums (ECs), they sold a...
THE Core Central Region (CCR) looks set to be the outperformer again this year for resale prices of private apartments and condos. Based on flash estimates for November 2016 released by SRX Property on Tuesday, its price index for resale transactions of non-landed private homes in CCR is up 1.8 per cent from December last year. In contrast, over the same period, SRX's price indices eased 0.6 per cent...
SINGAPORE'S Housing & Development Board (HDB) will launch about 17,000 new flats for sale to Singaporeans in 2017, about 5.6 per cent fewer than the 18,000 build-to-order (BTO) flats launched in 2016. National Development Minister Lawrence Wong said in his blog post on Wednesday: "We are gradually tapering supply but still ensuring a healthy pipeline to meet demand. Once again, we will offer a good...
THE residential leasing market remained soft last month, with both private home rents and HDB flat rents continuing their downward drift. Private rents slipped 0.8 per cent in November from a month ago, according to flash estimates by SRX Property. HDB flat rents fell 0.9 per cent during the same period. The rental drag in the private segment came from all regions, with the prime or Core Central...
THE managers of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Reit) are proposing to acquire a light industrial property on 107 Eunos Avenue 3 for S$34.5 million. There is 24 years left on the lease of the property, a newly completed building between Paya Lebar and Eunos MRT stations. The vendor, General Cars Fleet Management, will also provide income support for five years if...
FIVE office floors in Suntec Tower One are changing hands for a total sum of S$129.3 million, which works out to S$2,400 per square foot on strata area of 53,863 sq ft, based on caveats data. The five floors - Levels 24, 25, 34, 35 and 36 - are being sold by BASF South East Asia, a part of German chemicals giant BASF, which currently occupies the space. The floors are being bought by companies which...