Mortgagee listings in Singapore look set to hit a seven-year high by the end of 2015. According to property services firm Colliers International, 241 repossessed properties were put up for auction this year, up by almost 52 per cent from 159 in 2014. This is the highest since 2008. In a media release on Thursday (Dec 17), Colliers International said there were 555 owner listings in the property auction...
General
The Government has cut the amount of land it plans to sell in the first half of next year, the Ministry of National Development (MND) said, as property prices remain subdued. Its revised programme will comprise four sites on the confirmed list, which will be launched for sale on set dates, and 12 sites on the reserve list, which will be put up for tender when a developer has offered an acceptable...
There is a new hotelier in town and Mr Satinder Garcha, who is ranked 48th on the Forbes' Singapore rich list, plans to shake up the luxury boutique hotel sector in Singapore. Mr Garcha made his money in the new economy, in Silicon Valley, before moving on to develop luxury landed homes in Singapore such as The Green Collection in Sentosa Cove. A 1950s Art Deco building on Syed Alwi Road once housed...
IN the heyday of the retail-property market, many landlords were eager to slice retail spaces into smaller units to lease out at higher rents per square foot. Now in the face of softening rents and dwindling tenant sales, some landlords are changing tack to lure back the bigger tenants they were once inclined to shoo away. While this curating of tenant mix may lend support to mall occupancies and...
THE rental gap between prime spaces in suburban malls and Orchard malls has been narrowing - and this trend is slated to continue into 2016. Property consultants noted that the relative resilience of suburban malls stems from their larger local catchment and lower susceptibility to tourist spending, which has been dealt a blow from lacklustre tourist arrivals and competition from other global cities for...
THE Singapore Government Land Sales programme (GLS) for the first half of 2016 will comprise four sites on the Confirmed List and 12 sites on the Reserve List. In all, these sites can yield up to 7,420 private residential units, including 1,460 executive condominium (EC) units, and 272,600 square metres gross floor area (GFA) of commercial space, the Ministry of National Development said on...
THIS year's tally of investment sales of property - big-ticket transactions of at least S$10 million - is set to be the lowest in six years, preliminary numbers from CBRE and Savills Singapore show. Still, the tally will not be as bad as that for 2009, when transactions dived during the Global Crisis. Savills' numbers reflect S$16.7 billion of deals so far this year (up to Dec 16), - about 11 per...
Developers sold a total of 759 private residential units in November, a 39 per cent uptick from 548 units sold in October and representing a 79 per cent jump from a year ago. The top selling project last month was MCC Land's The Poiz Residences in Potong Pasir that was launched during the last weekend of November and sold 277 units at a median price of S$1,440 per square foot (psf). This was followed...
The Urban Redevelopment Authority (URA) released the detailed sales conditions for the White site at Central Boulevard today. The land parcel is available for application under the Reserve List of the second half 2015 Government Land Sales Programme. Located within the heart of the new growth area at Marina Bay, the future development on the White site will contribute to building up the critical mass of...
More than 150 motor workshops are expected to move out of Sin Ming Industrial Estate in the third quarter of 2016, to free up land for higher intensity development as part of the Housing and Development Board (HDB)'s Industrial Redevelopment Programme. HDB said that all affected tenants have already selected their replacement units in a new multi-storey complex, AutoCity, right next door. Those...