A total of 4,170 flats in Bukit Batok, Sengkang and Bidadari were launched on Wednesday (Feb 24), the Housing and Development Board (HDB) announced in a press release. A wide range of flats, comprising two-room Flexi to Three-Generation (3Gen) flats will be launched during this exercise, said HDB. A total of 1,594 flats will be launched in Alkaff Oasis, situated in the mature estate of Bidadari in...
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A residential site at New Upper Changi Road/Bedok South Avenue 3 (Parcel B) has attracted eight bids at the close of tender, the Urban Redevelopment Authority (URA) said on Tuesday (Feb 23). The top bid came from Chip Eng Seng's CEL Residential Development, which offered S$419.38 million. This translates to about S$8,186.54 per square metre. The second highest bid of S$415.89 million was submitted by...
THE real estate market across all sectors in Singapore is in a correction phase, and "in a quirky way", the job of brokerages has become more important during the transitions. This is the time when clients - whether they are in office, retail, or industrial - will require even more of the support and advice of brokerages, CBRE managing director, brokerage (Singapore) Moray Armstrong said. Leasing...
New private home sales slumped 49 per cent last month from the previous month in the absence of fresh project launches during the traditionally lull year-end period, with property analysts projecting that sales will pick up in the months ahead, especially with prices expected to fall further. Developers here sold 384 private residential units last month, data from the Urban Redevelopment Authority (URA)...
After nearly a decade of lingering at low levels, interest rates have been on the rise for the past year, and economists had forecast continuing increases. Over the past several weeks, however, rates have belied those expectations and flattened or even declined. Since interest rates have a large impact on almost everyone’s pocketbook, it is timely to look at how to manage the impact of those rate...
After waiting more than one year for an opportune time to purchase a condominium to house his family of three, Mr Amrit took the plunge in early 2015 after coming across a resale unit in his choice location with a “reasonable” price tag. He had always intended to upgrade to a private home, and when prices for Housing and Development Board (HDB) flats started falling in 2013, he decided to cash out...
Singapore's first co-working space equipped with child-minding facilities officially opened on Wednesday (Feb 17). Trehaus, which is located on Orchard Road, aims to give working parents a chance to meet like-minded people and grow their business network, while staying close to their children. Here, parents conduct their business at the Workspace and have the option of dropping their kids off at the...
With developers facing potential charges for unsold private residential units that could amount to S$100 million, the Real Estate Developers’ Association of Singapore (REDAS) renewed its call on Thursday (Feb 18) for the Government to review the property cooling measures. “The real estate market is reeling from the compounding effects of an oversupply situation, rising vacancy rates, weak demand and...
Sales of private homes fell 16 per cent in January from the previous month as developers scaled back property launches. Excluding executive condominiums (ECs), developers sold 322 new units last month, down from the 384 units sold in December, data from the Urban Redevelopment Authority showed on Monday (Feb 15). Including ECs, 478 new units were sold last month, down from 508 units. The fall in...
CapitaLand, one of South-East Asia's largest property developers, said on Wednesday (Feb 17) its profit for the fourth quarter fell nearly 40 per cent from a year ago, hurt in part by the absence of gains recorded last year from the sale of an office tower. The group's profit after tax and minority interests for the quarter fell 39.5 per cent to S$247.7 million from S$409.4 million. Operating profit was...