The Monetary Authority of Singapore’s recent fine-tuning of refinancing rules relating to the total debt servicing ratio (TDSR) governing property loans is a strong nudge towards deleveraging. Stretched borrowers who hold investment properties will have to think about actively managing down their debt, especially as rental income is under pressure and economic growth is easing. Far from stimulating...
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A sprawling GCB, situated on one of the highest points of the Leedon Park GCB Area, has just been lauched for sale by tender by sole marketing agent JLL. Built in the early 1990s, 17 Leedon Park comprises a 2-storey bungalow with a built-up area of approximately 9,000 sq.ft equipped with a 21 m long in-ground swimming pool and a lavish garden. Said Mr Karamjit Singh, International Director and...
Never mind that Singapore is experiencing one of the worst property slumps in its history, demand for luxury housing is suddenly coming from an unexpected group: wealthy Indonesians. This year's purchases by Indonesian nationals of homes valued at S$5 million or more have already nearly quadrupled from last year's total. The stepped-up buying coincides with the passage of a law in Jakarta aimed at...
RESALE prices of non-landed private homes in Singapore eased 0.8 per cent in August 2016 over the previous month, based on SRX Property's flash estimate for last month released on Tuesday. This follows a revised 0.7 per cent month-on-month decline in the index for July 2016. SRX Property had earlier indicated a 0.4 per cent drop for July based on its flash estimate for that month. Giving a...
A bundle of three smallish freehold apartment developments in prime districts 9 and 10 may be put on the market soon, The Business Times understands. Estimated to be worth "a couple of hundred million Singapore dollars", the portfolio comprises 120 Grange Road, Cuscaden Mansions at 3 Cuscaden Walk, and 8 Hullet Road. The developments house 47 units in total. The owner is said to be a trust operated...
A bundle of three smallish freehold apartment developments in prime districts 9 and 10 may be put on the market soon, The Business Times understands. Estimated to be worth "a couple of hundred million Singapore dollars", the portfolio comprises 120 Grange Road, Cuscaden Mansions at 3 Cuscaden Walk, and 8 Hullet Road. The developments house 47 units in total. The owner is said to be a trust operated...
TWO more Starwood brands - The Luxury Collection and Tribute Portfolio - will make their debut in Singapore this year and next, taking the number of Starwood properties in Singapore to eight. The luxury Duxton Club will consist of two pre-war colonial heritage buildings offering guests different experiences. The 50-room Duxton House is slated to open in early 2017 while the 138-room Duxton Terrace, 200...
SINGAPORE'S latest Housing & Development Board (HDB) town, Tengah, will feature a car-free town centre, lush greenery and community farms. Located between Jurong East, Choa Chu Kang and Bukit Batok, Tengah will be equivalent to Bishan in size, at some 700 hectares. The new town's masterplan was unveiled by National Development Minister Lawrence Wong at the HDB Awards Ceremony on Thursday. "The key...
HDB resale transactions in August rose 19.5 per cent to about 1,879 flats, compared to a month ago as prices slipped 0.7 per cent, according to estimates by SRX Property. The price dip reversed a 0.7 per cent month-on-month increase in HDB resale prices in July in a continued streak of monthly fluctuations seen this year. R'ST Research director Ong Kah Seng noted that the month-on-month price rebound...
THE new Funan mall, when ready in the fourth quarter of 2019, will be a platform that "inspires retail innovation" and offers a "new paradigm" for living, work and play, said CapitaLand Mall Trust. The developer will unveil at the groundbreaking ceremony on Wednesday that the new mall will simply be called "Funan" - it was originally Funan DigitaLife Mall - as a tribute to the site's legacy and an...