Businesses at the sports and recreational development Raintree Cove — home to the popular Long Beach Main Seafood Restaurant, a fixture at East Coast Park — will be putting up their shutters by next February. TODAY has learnt that the lease for the space lapses on Feb 28 next year, and tenants are expected to make way for the land’s development. Master tenant Raintree Cove was granted a final...
General
SOON after completing its acquisition of property agency Global Alliance Property (GAP) Pte Ltd, Asia-Pacific Strategic Investments Ltd (APSIL) is shoring up its agent strength by acquiring another firm - this time, Century 21 (AsPac) Pte Ltd. In a regulatory filing with the Singapore Exchange on Friday, APSIL said that its wholly owned subsidiary GAP has inked a non-binding memorandum of understanding...
Office buildings in the city fringes may be increasingly left vacant as tenants seek the opportunity to move into Grade A premises in the Central Business District (CBD) with rents weakening amid an onslaught of incoming supply. Pundits, such as Bloomberg columnist Andy Mukherjee, have blamed the weak office market here on a “fundamental miscalculation” on the part of some Singapore developers that...
Residential property developers have been holding back on property launches, with a few opting to delay by one or two months, according to property watchers. They attribute this to developers being conscious of poor market sentiment amid economic uncertainty. The first residential property launch for 2016 is expected to be WanderVale, an executive condominium (EC) in Choa Chu Kang with 534...
Shunfu Ville has been put up for en bloc sale again. Marketing agent JLL said the owners want at least S$688 million, which translates to S$791 per square foot per plot ratio. Located in the Bishan/Thomson area, Shunfu Ville is made up of three 16-storey apartment blocks and three low-rise blocks of masionettes. The 358-unit residential development occupies a land area of around 410,000 square...
Resale prices of private homes fell for the second month in a row in December, according to the Singapore Residential Price Index (SRPI) estimates, which were released on Thursday (Jan 28). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices decreased 0.4 per cent month-on-month in December, after falling 0.7 per cent in...
Home owners looking to refinance their properties are finding it increasingly difficult to do so against the backdrop of falling property prices, stringent definitions of what constitutes income and the tedious paperwork involved. Conservative property valuations also mean that only smaller loan amounts can be refinanced. With rising interest rates, more home owners are opting to switch from floating to...
Steve Melhuish knew practically nothing about the real estate market in Singapore when the condo he was renting was put up for sale in 2006. Now he dominates the industry. The British-born Melhuish and his wife had just moved to the city-state 18 months earlier and they were surprised at how difficult it was to find new housing. Decade-old sites like Realtor.com, popular in the US, hadn't reached...
The upcoming supply of industrial space this year is expected to exert further downward pressure on occupancy rates, said JTC on Thursday. In a market report on industrial space, JTC pointed out that prices and rents of industrial space continued to fall in tandem with occupancy rates, slipping 1.5 per cent and 1.1 per cent respectively in the fourth quarter from the preceding quarter. This...
Prices of completed condominium units and apartments fell 0.4 per cent in December, following a 0.7 per cent decline in November last year. This was based on the latest flash estimates from the National University of Singapore (NUS) for its Singapore Residential Price Index (SRPI) series, reflective of transactions tracked within a basket of units as at Jan 21. The main drag came from homes in the...