Six in 10 existing owners of 900,000 Housing and Development Board (HDB) flats in Singapore continue to live in their first flat, which is "remarkably high", said National Development Minister Khaw Boon Wan in a blogpost on Wednesday (Dec 31). Of the 26 HDB towns and estates, Tanjong Pagar/Chinatown/Bugis had the highest percentage of owners still living in their first flat, at 77 per cent. Other high...
General
The Government is tightening the supply of industrial land. A total of 14 sites have been placed under the Industrial Government Land Sales (IGLS) Programme for first half of 2015 - one fewer than for the preceding six months. Of the 14, nine sites have been placed on the Confirmed List. Of these, three are located at Tampines Industrial Drive, four at Tuas South, and one each at Woodlands Avenue 10 and...
Resale prices of private homes dipped slightly last month, according to Singapore Residential Price Index (SRPI) flash estimates, which were released on Monday (Dec 29). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices decreased 0.3 per cent in November from the previous month. In October, overall prices rose 0.4 per cent from a month...
South Beach Tower at Beach Road has yet to open its doors to corporate tenants, but analysts have said it has already had an impact on office rents in the vicinity. Over the next 10 years, the Bugis-Beach Road office submarket could become a preferred choice of location for cost-conscious businesses. The S$3 billion South Beach project has some 500,000 square feet of office space, and tenants are...
Rentals of shoebox units could fall by five to ten per cent in the coming years due to an expected increase in supply, said property analysts. Shoebox units are small apartments - they include one-bedroom or studio units and are often bought as investments. About 6,200 shoebox units will be completed in the next two years. Property consultant SLP International said this is a record number - compared...
With new shopping malls coming up along Orchard and new retailers entering the scene, change is afoot at Singapore's prime shopping belt. Just recently, book retailer Kinokuniya moved to small premises within Ngee Ann City, allowing the landlord to carve out the space once occupied by the bookshop into smaller units - for various tenants. At Wisma Atria next door, Japanese retailer Isetan is also...
Prices for Housing and Development Board (HDB) flats have been moderating and the market shifting from a seller's to a buyer's market in 2014, but the shift is not yet complete, National Development Minister Khaw Boon Wan wrote on his blogpost on Monday (Dec 29). Mr Khaw wrote: "The shift is not yet complete and 2015 should see greater stability. We are scaling down the pace of construction but remain...
Property prices in the Republic have been moderating and National Development Minister Khaw Boon Wan expects this to continue into 2015. He was speaking to reporters after witnessing the handover of a completed Build-To-Order (BTO) project at Punggol on Monday (Dec 29). The event also marked the completion of 28,000 new flats this year - a record in recent years. The minister outlined his ministry's...
Parkway Life Real Estate Investment Trust (PLife REIT) has sold seven nursing homes in Japan for ¥7.95 billion (S$88.3 million) as part of a plan to divest assets of less strategic value. PLife REIT said in a statement on Friday (26 Dec) it expects to recognise an estimated divestment gain of approximately S$12.3 million. "The proceeds received from the divestment will further strengthen PLife...
Perennial Real Estate Holdings, whose properties include Capitol and CHIJMES, made a weak debut on the main board of the Singapore Exchange (SGX) on Friday (Dec 26), opening more than 20 per cent below the notional value of its shares. Perennial Real Estate - which achieved its stock market listing via a reverse takeover of nightclub operator St James Holdings - recently took over Perennial China Real...