Sales of private homes last month more than doubled in March, rising by 178 per cent from the previous month as developers launched more units. Excluding executive condominiums (ECs), developers sold 843 new units in March, up from the 303 units sold the previous month, data from the Urban Redevelopment Authority showed on Friday (Apr 15). Including ECs, 1,328 new units were sold last month, up from 433...
General
There will be an upcoming network of therapeutic gardens, featuring contemplative spaces and activity zones, to support dementia and post-stroke patients, said Senior Minister of State for National Development Desmond Lee on Monday (Apr 11). Speaking at his ministry's Committee of Supply debate, Mr Lee said greenery will be used as therapy, especially for seniors. He cited a study conducted by...
Real estate company CapitaLand is calling for ideas for Funan DigitaLife Mall, which is set to close its doors for three years for redevelopment works from Jul 1. About 388,000 sq ft will be added to the mall’s current Gross Floor Area of 482,000 sq ft when the redevelopment is completed, according to CapitaLand. In a media release on Friday (Apr 15), CapitaLand said the public can submit their...
Already abuzz in recent months with the opening of the National Gallery Singapore and the introduction of car-free Sundays, the Civic District and the Bras Basah-Bugis area are set to get a S$3 million shot in the arm to raise the areas’ appeal with more cultural and lifestyle offerings. In place for the next three years, the funding will be used by the National Heritage Board (NHB) and the National...
A SERIES of cooling measures progressively introduced in the last six years has led to a patchwork quilt covering the property market that is now uncomfortably scratchy and somewhat suffocating. Calls to relax the cooling measures began to ring out two years ago. In recent months, developers, property agents and industry associations have repeated their calls, with some predicting that measures may be...
Resale transactions for non-landed private homes surged 47.6 per cent last month from the previous month, rebounding after four straight months of decline as prices inched higher, but analysts say it remains to be seen if the market has bottomed out. Resale volume jumped to 577 homes last month from the 391 units registered in February, flash estimates from SRX Property showed on Tuesday (April 12), the...
CANADIAN financial services group Manulife has started pre-marketing for an initial public offering (IPO) in Singapore of its US office Reit (real estate investment trust), a plan it had shelved for nine months due to market conditions. It is now said to be aiming for a May 20 listing. A report by FinanceAsia on Tuesday, which cited bankers familiar with the situation, said the deal could raise...
SHOPS and shophouses overtook residential properties in total sales value in auctions in the first quarter of this year, a report by Knight Frank released on Wednesday shows. Some S$5.5 million worth of shops and shophouses were sold in auctions in Q1, more than double the residential sector's S$2.5 million. This marked the first time since the second quarter of 2014 that the residential sector was...
SIM Lian Group's four-bedroom units at Wandervale - the first executive condominium to be launched this year - have been fully sold out. In addition, about 60 per cent of the 534-unit development in Choa Chu Kang has been booked as at April 19 despite a challenging economic environment, said Sim Lian in an announcement to the Singapore Exchange. Of the 320 units sold to date, approximately half were...
WHILE skyrocketing property prices in top Chinese cities have prompted China to rein in the rage, Singapore developers with substantial exposure to these cities remain unfazed. Many are still bullish about their prospects in China and are looking to raise their exposure further. Yet, they are keeping close tabs on market conditions when it comes to timing residential launches. CapitaLand China CEO...