THE volume and value of transactions in Good Class Bungalow (GCB) Areas have risen so far this year, though prices continued to soften. Market views are mixed on whether transaction volumes will rise again or fall next year although there is a consensus that prices will keep on dipping at least in the first half. Agents cited a weakening economy and the rising interest rate scenario among other...
General
HDB resale prices rose a slight 0.2 per cent in November compared to October this year, driven by a 0.8 per cent price increase in mature estates, versus a 0.3 per cent dip in non-mature estates. But resale volume fell in November. According to HDB resale data compiled by SRX Property, some 1,585 flats were resold in November 2016, representing a 5.3 per cent drop from 1,673 transacted units in...
PWC Building at 8 Cross Street could be in the early stages of a potential sale. BT understands that insurer Manulife has been selected to do exclusive due diligence for the purchase of the 28-storey building, which has a net lettable area (NLA) of 355,704 sq ft. PWC Building, which is owned by DBS, is on a site with a balance lease term of 78.5 years. The price is expected to be more than S$700...
This paradox arises mainly from pent-up demand from buyers who have delayed their purchasing decision since the cooling measures of 2013, property consultants said. But the state of the economy and its impact on the labour market is a wild card. The uncertainty has clouded the reading on price directions for next year; analysts expect private home prices to slip further by as much as 3 per cent or to...
Despite seeing a challenging outlook ahead for the private residential market, many developers are still keen to replenish their land bank, albeit in a selective fashion. Sim Lian Group, which sold the most number of residential units among developers this year, is actively looking at both the government land sales (GLS) programme and enbloc properties to replenish its land bank, its executive director...
RESALE prices of Housing & Development Board (HDB) flats rose 0.2 per cent in November 2016 compared to a month ago, the SRX Property Price Index on Thursday showed. Prices for all HDB flats except executive units were up. From a year ago, prices have fallen 0.7 per cent. Prices are also down 11.3 per cent since the peak in April 2013. Resale volume fell 5.3 per cent in November 2016 from a month ago...
West Coast Vale, the newly released residential site under the government land sales (GLS) programme may see warm interest from developers on the back of improved sentiment and a lack of available development sites, some property consultants say. There are also others who believe that the slow take-up at nearby Parc Riviera condominium project by EL Development, which was launched last month, may serve...
MCL Land has emerged the top bidder for the residential land parcel at Margaret Drive with a bid price of S$238.39 million, pitting against 13 other bidders. This translates to S$997.85 per square foot per plot ratio (psf ppr) based on the maximum gross floor area of the site, which is big enough for 275 homes. The 99-year leasehold site is nestled within an established residential enclave near the...
OXLEY Holdings will invest A$32 million (S$33 million) for a 40 per cent stake in an Australian property and construction company. Announcing this in a filing to Singapore Exchange before market opened on Tuesday, the mainboard-listed real estate developer said it intends to purchase a 40 per cent stake in Pindan Group, a four-decade-old privately owned property and construction company based in Western...
Ascendas REIT (A-REIT) has proposed to acquire the leasehold interest in the property located at 12, 14 and 16 Science Park Drive from its sponsor. The property comprises three built-to-suit Science Park buildings held under a single land title. Two of the buildings are leased to DSO National Laboratories, Singapore’s national defence research & development organisation, while the third building is...