The Republic's real estate developers association (REDAS) has warned of record-high vacancies in the private residential property market, as supply continues to build while tighter mortgage curbs cools demand. In his welcome speech at a property seminar organised by the association on Tuesday (Jul 14), REDAS' president Augustine Tan cited analysts' estimates that more than 89,000 new private homes will...
General
The resale volume of non-landed private residential units was up 34 per cent year-on-year in June, with an estimated 552 units resold, the SRX Property said on Tuesday (Jul 14). However, compared to the previous month, resale volume was down 10 per cent from the 613 units resold in May. Resale prices inched up 0.4 per cent from May, driven by units in the Rest of Central Region and Outside of Central...
Serviced residence operator The Ascott has entered into a joint venture with Qatar Investment Authority (QIA) to set up a US$600 million (S$809 million) serviced residence fund. According to a press release by Ascott's parent company CapitaLand on Monday (Jul 13), the fund will have an initial focus on Asia Pacific and Europe regions for a term of 10 years with an investment period of three years....
Despite a significant ramping up in the Build-To-Order (BTO) programme over the last four years, the quality of the flats has not been compromised, Minister of State for National Development Desmond Lee said in Parliament on Monday (Jul 13). Responding to questions from several MPs on defects in BTO flats, Mr Lee said that an average of one-third of all new residents approach the Building Service Centre...
The latest Executive Condominium (EC) project, located in Canberra Drive in the northern part of Singapore, has received relatively strong response in its opening weekend. The Brownstone received about 300 e-applications over the weekend of Jul 11 and 12, with more than 2,000 visitors at its sales gallery. This was despite a highly competitive market with a number of new EC launches in recent...
When Singaporean Hidayu Mustaafa craves for retail therapy, she walks to a mall five minutes from her home in the eastern suburb of Tampines instead of bussing down to Orchard Road - the island-state's shopping Mecca. That is bad news for Orchard Road's glitzy malls, which showcase brands such as Inditex's Zara and H&M, as well as luxury names like Chanel and Prada. Increased competition from...
The easing of property cooling measures will depend on factors such as the state of the economy, wage growth, and the situation in the property market, said Law and Foreign Affairs Minister K Shanmugam. He was speaking at a real estate convention on Thursday (Jul 9), organised by property firm RE/MAX Singapore, in response to a question on a review of the cooling measures currently in place. The...
The glut in the Executive Condominium (EC) market is set to get worse with new launches adding a wave of supply into a housing segment where take-up has been generally lacklustre. On Thursday (Jul 9), developer City Developments (CDL) said applications for The Brownstone EC at Canberra Drive in Sembawang will open from Friday to Jul 20, with bookings to be conducted on Jul 25. CDL did not reveal...
The Housing and Development Board (HDB) resale market showed signs of recovery last month, with the number of units sold reaching a two-year high and prices inching up by 0.1 per cent, the Singapore Real Estate Exchange (SRX Property) said on Thursday (Jul 9). A total of 1,709 HDB resale flats were sold in June, an increase of 8.5 per cent from the previous month and up 30 per cent from a year ago. The...
Your home could eventually be part of a test-bed for solutions to enable smart living. Under Singapore's drive to become the world's first Smart Nation, existing public housing estates will participate in a technology trial to see how devices can be integrated into daily life. The Housing and Development Board (HDB) will conduct the trial, with more details to be provided at a later date. It will gather...