More than one year after the penny stock scandal in October 2013, Singapore's stock market continues to suffer from the fallout. Trading volumes have been weak in 2014, with the average daily value of stocks falling year-on-year for about 13 straight months. The daily value of securities traded are currently holding at S$1.037 billion. While returns are not particularly high, the Singapore Exchange...
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Keppel DC real estate investment trust (REIT) made a strong debut on the Singapore Exchange (SGX) on Friday (Dec 12), opening at 98 cents per share after the initial public offering (IPO) was oversubscribed by 9.6 times at the closing of the offer. It closed the session at 96.5 cents. Keppel DC REIT is the first data centre REIT to be listed in Asia. It is also the largest REIT IPO in Singapore this...
The Republic's sovereign wealth fund GIC on Friday (Dec 12) announced an agreement to acquire Eco Sapucai in the Brazilian city of Rio de Janeiro - marking its first wholly-owned investment in Latin America. The 86,060sqm AAA office is currently being developed by Hemisfério Sul Investimentos (HSI), and construction is expected to be completed in the first quarter of 2015, according to GIC's press...
The number of homes put up for mortgagee sale at auctions surged seven-fold this year, property agency Colliers International said yesterday, warning that the worst had yet to come. Of 529 properties put up for auction this year, 159, or 30 per cent, were mortgagee sales, five times the 32 properties put up by lenders in 2013. Of the mortgagee sales, 123 or 77 per cent were for housing, more than...
Rental prices for both non-landed private units and Housing and Development Board (HDB) flats fell in the month of November, according to flash estimates released by the Singapore Real Estate Exchange (SRX). In a report issued on Wednesday (Dec 10), rentals for private homes dipped 0.8 per cent month-on-month in November - representing the 10th consecutive month of falling prices. Rents in all three...
Thong Sia Building, a 26-storey residential and commercial building off Orchard Road, has been put up for sale with the owners expecting between S$400 million and S$420 million. The building, located along Bideford Road near the Paragon shopping mall, sits on a freehold site with a land area of around 21,602 square feet. The building currently comprises seven levels of commercial space and a 19-level...
With the Government cutting the supply of commercial space, analysts said they expect two commercial sites to be triggered for tender next year. They have been placed for sale on the Reserve List under the Government Land Sales (GLS) Programme for first half of 2015. The two sites comprise the mixed-use site at Woodlands Square and a white site located at Marina View/Union Street. Under the Reserve...
The number of real estate transactions in Asia will grow substantially next year, according to Collier International's Asia Property Outlook 2015. This is because pent-up demand from investors will be gradually satisfied by a growing volume of new supply anticipated in 2015, said Mr Dennis Yeo, Interim Chief Executive Officer (Asia) of Colliers International. Besides new stock, there will also be...
The Republic fell out of an annual global ranking of top 30 markets for property sales volumes, as a slew of cooling measures dampened investor sentiment, said a report released yesterday. No figure was given for Singapore’s performance over the six-month period ended June this year in the Emerging Trends in Real Estate Asia Pacific 2015 report published by the Urban Land Institute and...
Resale prices for non-landed private residences slid 1.1 per cent on-month in November, pushing it beneath the support level established since July 2014, the Singapore Real Estate Report (SRX) stated on Tuesday (Dec 9). Based on year-on-year comparisons, the November prices dropped 3.4 per cent. Compared with the recent peak in January 2014, prices have declined 6.3 per cent, SRX said. Resale prices...