Industrial rents in Singapore fell 2.7 per cent quarter on quarter (q-o-q) and 5.1 per cent year on year (y-o-y) in the first quarter of 2016, JTC Corporation’s latest statistics released on Thursday show. Industrial property prices have also fallen 2.5 per cent q-o-q and 4.8 per cent y-o-y in Q1 2016. Vacancy rates island-wide also rose by 0.5 percentage point to 9.9 per cent. However, despite higher...
General
A RARE District 9 private housing site being offered at a state tender is generating much buzz in the market. The developer of the nearly 1.6-hectare site located at the corner of Martin Place and River Valley Close may build 450 units at most - subject to a maximum gross floor area of 480,306.75 square feet. Part of the site has a 20-storey height restriction, while the rest of the plot has a...
KEPPEL Land (KepLand) is launching its Highline Residences on April 30, with a new block which has 60 units released for sale. The developer had previously sold about 86 per cent of the 210 released units at private events held for registered prospects. In September last year, KepLand said home buyers had picked up more than 80 per cent of the first 160 units released at its closed-door sales at an...
Speculation in the private property market is at its lowest in years, as the number of sub-sale transactions for private homes in the first three months of the year fell to its lowest level in nearly 11 years, signalling the market’s continued slowdown. There were 88 sub-sale transactions in the first quarter of this year, compared with 132 units transacted in the previous quarter, data released by...
Resale prices of private homes fell in March, after a marginal increase the previous month, according to flash estimates from the Singapore Residential Price Index (SRPI) released on Thursday (Apr 28). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices declined 1 per cent in March from the previous month. In February, prices rose 0.4 per...
A S$4.3 million loss on the sale of a property would be a terrifying prospect for most people. But that eye-watering amount is what the owner of a three-bedroom apartment at The Ritz-Carlton Residences Singapore Cairnhill saw disappear down the sink when the property was sold earlier this year. The seller, a Chinese national who was a permanent resident here, had purchased the unit at S$3,815 per...
Prices and rentals for industrial space in Singapore fell further in the first quarter of 2016, declining by about 5 per cent compared to the same period a year ago, according to figures released by JTC. Occupancy rates fell in tandem during the quarter, declining 0.6 per cent from the previous quarter. The national principal developer and manager of industrial estates said on Thursday (Apr 28) that...
The Urban Redevelopment Authority (URA) has launched a residential site at Martin Place for sale by public tender today under the Confirmed List of 1st Half 2016 Government Land Sales (GLS) Programme. This site can potentially yield about 450 residential units. The 99-year lease, 15,936.1 square metre site is located within a well-established residential area, with existing condominiums such as Martin...
PRIVATE equity giant Blackstone is understood to be stitching a deal to buy a majority interest in three Singapore properties owned by Sime Darby. It is expected to take a stake of about 75 per cent in entities owning the properties; the deal values the properties at about S$300 million. The yield, on an ungeared basis, is estimated at 6 per cent. Sime Darby, the listed Malaysian plantation-based...
AMARA Holdings' shopping mall in Tanjong Pagar, 100 AM, will soon be home to Parco, after the group inked a lease agreement with the Singapore subsidiary of the Japanese department store operator. Parco (Singapore) Pte Ltd agreed to take up some 14,000 square feet of food and beverage (F&B) space at the mall. It plans to open a new restaurant zone named itadakimasu by Parco, housing a variety of...