In an era of cooling measures and loan curbs, sales transactions in the Singapore property market continue to languish. The action is in rentals, at least in terms of the number of deals. SRX Property data shows that rental deals represented about 67 percent of a total of 115,864 property transactions last year and are hovering at about the same percentage so far this year. In contrast, rentals...
General
Fairhaven, a 15-unit residential development along Sophia Road, has been launched for sale by public tender. This is the first time that the freehold property has been put up for collective sale, and more than 80 per cent of the owners, by share value and strata floor area, have consented to the move. The property has a land area of approximately 16,660 square feet, and the future developer can build...
A row of 11 strata units in Singapore Shopping Centre (SSC) along Orchard Road has been put for sale by expression of interest. The units cover 7,061 square feet (sq ft) of shop/office space and make up close to half of the third floor in the mall. SSC is a seven-storey commercial development with a basement carpark located at 190 Clemenceau Avenue. In a statement on Tuesday (Jun 2), its...
Tech giant Google is expanding its data centre footprint in the Republic, investing in a second “larger, multilevel” facility that will bump its long-term investment in Singapore to US$500 million (S$675 million). Mr Joe Kava, Vice President of Data Centers at Google Asia Pacific, said in a blogpost on Tuesday (Jun 2) that the new facility will be built on the same principles as the current one - it...
New flats in Clementi have emerged as the favourite in the Housing and Development Board’s (HDB) latest round of flat sales, despite being priced at a premium. The Build-To-Order (BTO) exercise closes at midnight but as at 5pm on Tuesday (Jun 2), there were about 13 applicants for each five-room unit in Clementi. ADVERTISING Altogether, there are about 4,000 BTO flats on sale, and about another...
The wheels have been set in motion for the first multi-strata private development in the Republic to be gazetted as a conserved building. On Sunday (May 31), 116 owners of Pearl Bank Apartments turned up for a general meeting to discuss the matter after its management committee said authorities would only agree to the conservation status request if a 100 per cent consent among owners was...
With growing internet connectivity, data centres are becoming an important facility. According to the Infocomm Development Authority of Singapore (IDA), Singapore now accounts for about half of the data centre capacity in the region. Industry players have said this is set to grow, and recent expansions in the sector in the Republic will further strengthen Singapore's position as a leading data...
Developers of the latest executive condominium (EC) project on the market sold about a quarter of the 480 units on the first day of booking. As of 7pm on Saturday (May 30), buyers picked up about 120 units at Westwood Residences, located at Jurong West. The project was opened for sale on Saturday morning, after developers received some 500 applications to book units over the past two weeks. Prices...
There are 2,446 vacant executive condominium (EC) units in the market, according to first-quarter figures from the Urban and Redevelopment Authority (URA). These are completed units which have not been sold, or units which are purchased but left unoccupied. This could be due to EC buyers needing more time to move in. However, analysts also said that there are buyers who do not intend to live in the...
Resale prices of private homes fell last month, according to Singapore Residential Price Index (SRPI) estimates, which were released on Thursday (May 28). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices declined 0.1 per cent in Apr from the previous month, when prices increased 0.3 per cent from a month earlier. Prices of homes in...