Flash estimates of the Resale Price Index for the first quarter of 2015 showed a 1 per cent decline in the prices of Housing and Development Board flats over the previous quarter, HDB announced on Wednesday (Apr 1). The flash estimate for the index is 135.6, HDB said, down from 137.0 in the previous quarter. It added that the RPI for the full quarter will be released on Apr 24, along with more detailed...
General
A land parcel at Paya Lebar Road/Sims Avenue for commercial development has attracted six bids at the close of its tender on Tuesday (Mar 31). The top bid of S$1.67 billion was submitted jointly by Roma Central Pte Ltd, Milano Central Pte Ltd and Verona Central Pte Ltd. This works out to S$10,145.65 per square metre of the gross floor area (GFA). Meanwhile, the lowest bid of S$889.18 million was placed...
New and existing tenants will not be allowed to sublet their industrial properties from Jun 1 this year, the Housing and Development Board said in a press release on Monday (Mar 30). However, to facilitate business adjustments, HDB said tenants with existing approved subletting arrangements will be allowed to renew their subletting agreements until Dec 31, 2017. According to the HDB website, some of...
Singapore mortgage rates have risen on average by at least a third within the past month, amid an increase in Singapore's benchmark interest rate. Market analysts have said mortgage rates are expected to climb further in the coming months and more home owners are reviewing their financial position. Mortgage rates for home owners on floating rate loan packages are estimated to have risen on average from...
Hotel Properties Limited (HPL) has invested in a 30 per cent stake in a venture that is buying two prime properties in Southbank, central London, for £308 million (S$627 million), as the Singapore-listed hotel landlord and property developer expands its footprint in the British capital. In a regulatory filing with the Singapore Exchange on Saturday, HPL said its indirect wholly-owned subsidiary, HPL...
A key benchmark lending rate rose above the 1 per cent level for the first time in more than six years, indicating that mortgage rates will increase further in coming weeks. The three-month Singapore interbank offered rate (SIBOR) was fixed at 1.00129 per cent on Tuesday (March 24), according to Association of Banks in Singapore (ABS) data posted on Bloomberg, up 0.9 per cent from Monday's fixing of...
Singapore’s sovereign wealth fund GIC has set up a €300 million (S$447 million) partnership with Exeter Property Group. The partnership aims to invest in logistics properties in Europe, which offer easy access to motorways, water ports, airports and rail nodes. Exeter is a specialist in logistics, light industrial and business park properties. The company said it will use its skills to acquire and...
Private home sales have been moving relatively slowly recently - with less than 400 units sold in each of the last two months. Despite this, developer UOL Group is going ahead with its 797-unit condominium, Botanique at Bartley, citing encouraging signs in recent weeks. "Beginning this year, the launches were a little bit more muted but of late, the last few weeks we can see a lot more traction in other...
Prices of executive condominium (EC) units in some non-mature estates are likely to weaken going ahead, according to property analysts. They said this is due to the large volume of units currently available and in the pipeline. The EC scheme was introduced in the late 1990s, and since then, as many as 40 projects have been launched for sale. Official figures from the Urban Redevelopment Authority’s new...
Four shophouses at Boat Quay - a single shophouse and a row of three shophouse units - have been put up for sale, according to sole marketing agent DTZ Debenham Tie Leung on Wednesday (Mar 18). The single shophouse has a site area of 1,360 square feet (sq ft) and a gross floor area of 4,321 sq ft, while the three adjoining shophouses have a combined site area of 4,058 sq ft and a combined gross floor...