General

Two shophouses located in the central business district (CBD) and three adjoining shophouses in Jalan Besar have been put up for sale by tender, marketing agents PropNex and Edmund Tie said separately on Tuesday. The three-story shophouse with an attic at 35 Kreta Ayer Road has a S$12 million guide price, or S$2,181 per square foot (psf) based on a total floor area of about 5,500 square feet (sq ft)....

Adjoining condominiums Fairhaven and Sophia Ville at Sophia Road will be launched for collective sale by tender on Aug 3 with a combined indicative price of S$64 million. The majority owners of both developments agreed to band together so that the sites may be offered to a developer who can redevelop them into a larger residential project, sole marketing agent JLL said on Thursday. Over 80 per cent...

Net absorption of office space in Singapore shrank by a record 55,000 square metres of net lettable area in the second quarter of this year. Meanwhile, the island-wide office vacancy rate climbed to 12.1 per cent from 11 per cent at the end of Q1 2020, according to data from the Urban Redevelopment Authority. There is no denying that office demand has weakened amid the recession triggered by...

Rentals of retail space in Singapore's central region shrank 3.5 per cent in the second quarter of 2020 over the previous three months, after easing 2.3 per cent in the first quarter of 2020. Data released by the Urban Redevelopment Authority (URA) on Friday also showed that prices of retail space in the central region fell 1.5 per cent in Q2 2020, although this was a smaller drop than the 3.1 per cent...

Private home prices in Singapore in the second quarter edged up 0.3 per cent from the previous quarter, while transactions fell to its lowest in more than two years amid the COVID-19 pandemic, updated data from the Urban Redevelopment Authority (URA) showed on Friday (Jul 24). The private residential property price index increased to 152.6 points in the second quarter, up from 152.1 points in the first...

The number of Housing and Development Board (HDB) flats sold in the resale market in the second quarter plunged 41.9 per cent amid the COVID-19 "circuit breaker" period. Official figures released on Friday (Jul 24) showed a total of 3,426 flats were sold from April to June, falling from the 5,893 sold in the first quarter. On a year-on-year basis, the number of transactions was down 45.4 per cent,...

Prices and rentals of industrial space fell year on year in the second quarter and will continue to be under downward pressure in coming quarters due to the pandemic, said industrial land and infrastructure agency JTC Corp. Prices of industrial space declined by 1.7 per cent year on year and 1.1 per cent quarter on quarter. Rents came down by 0.8 per cent year on year and 0.7 per cent quarter on...

A portfolio of 11 shops at Sim Lim Square is up for sale again via expression of interest (EOI) with a guide price of S$21 million, exclusive marketing agent Knight Frank Singapore said on Thursday. The indicative price works out to about S$4,134 per square foot (psf). The shops are central podium facing units on the fifth floor of Sim Lim Square, a complex catered for electronics and IT...

Three shophouses at Ann Siang Road and Keong Saik Road is up for sale by expression of interest at a total guide price of S$30.5 million. The properties can be bought individually or as a portfolio. A trust company has appointed property consultancy Knight Frank Singapore to offer the portfolio for sale, Knight Frank said on Wednesday. All three shophouses are zoned "Commercial" under Master Plan...

PIL Building in Cecil Street - ultimately fully owned by the same entity that controls struggling Pacific International Lines (PIL) - has been quietly put on the market through an expression of interest (EOI) exercise that closed last Friday. The exercise has drawn strong response; according to the grapevine, interest from eight parties was received. The guide price for PIL Building has been set at...