With the residential property market remaining sluggish, analysts have said more homeowners are choosing to rent out their homes first, hoping to fetch a better selling price when the market recovers. However, this is putting downward pressure on rentals. Industry watchers said tenants are now signing shorter leases, expecting rentals to dip. Prices of private homes have been on the downward trend...
General
Increases in the price and rental of industrial space have "slowed sharply", according to data from JTC on Thursday (Apr 23). The slowdown follows the increase in supply of industrial land and space in recent years, and in tandem with moderation in occupancy rates, it said in a news release. The rental rate movement in for all industrial properties fell 2 per cent year-on-year in the first quarter of...
Genting Hotel Jurong is the latest among hotels that are sprouting up away from the city centre. While they are situated away from the tourist belt, analysts have said that these suburban hotels could appeal to a certain market segment, and build up their own clientele. Genting Hotel Jurong plans to open in phases, starting from Apr 30 until end-May. The 15-storey hotel at Jurong East has 557 rooms,...
With their colourful facade and distinctive five-foot way, shophouses are reminiscent of Singapore's past. But even in today's modern business environment, there is still a demand for them. At Amoy Street, such shophouses have been taken up by creative outfits, restaurants and even small businesses who are looking for cheaper office space. With office rents already going up by 9.8 per cent in the last...
CapitaMall Trust (CMT), Singapore's largest shopping mall landlord, reported a higher distribution per unit for the first quarter ended March as shopper traffic and tenants' sales rose amid a weak retail market. CMT said on Tuesday (Apr 21) that it made a higher distribution of 2.68 Singapore cents per unit for three months ended Mar 31, 2015, up 4.3 per cent over the same period in 2014. Its gross...
Cluny Park Residence is a boutique development situated along Cluny Park Road, adjacent to Singapore Botanic Gardens and a stone’s throw away from Botanic Gardens MRT station. Designed by SCDA, the award-winning world class architects, Cluny Park Residence is aimed to create breakthrough and visually exciting designs to home-owners and to set new benchmark of quality living in one of the most highly...
Located on Balmoral Road just minutes away from the bustling retail belt of Orchard Road, One Balmoral is a luxury development featuring breathtaking views and an exclusive lifestyle. With its iconic lines and lavish facilities, residents will be treated to a charming blend of extravagance and intimacy while having the city as their own backyard. One Balmoral is positioned just 3 minutes drive away from...
The benchmark three-month interest rate in Singapore fell for a third straight session on Thursday (Apr 16), dropping below the psychological 1 per cent level amid an improved outlook for the local dollar. At the latest fixing on Thursday, the three-month Singapore interbank offered rate (Sibor), which is used to set floating-rate mortgages, slipped to 0.94654 per cent from 1.01241 per cent on...
Catalist-listed Keong Hong Holdings on Thursday (Apr 16) said it has appointed French hotel giant Accor to manage its first two hotels in the Maldives. The two hotels are being developed by Pristine Islands Investments, a joint venture between Keong Hong Construction (a wholly-owned subsidiary of Keong Hong Holdings) and its partners. Accor will provide the full spectrum of hotel management services,...
Local mall VivoCity on Wednesday (Apr 15) announced that nine retailers, including two new to Singapore, will occupy the expanded space at Basement 1. The introduction of the two retailers - US apparel brand American Eagle Outfitters and Weekends, a multi-brand lifestyle retailer - and the expansion of Basement 1 by 15,000 square feet are part of the mall's efforts to keep it relevant to shoppers, its...