The Housing and Development Board (HDB) will be sharing more details about a revised computation methodology for the Resale Price Index (RPI), as the existing one may not adequately reflect the resale market, said National Development Minister Khaw Boon Wan on Wednesday (Dec 3). In a blogpost, Mr Khaw said HDB has been working with a consultant from the NUS Department of Real Estate to review the RPI...
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The mixed-use development South Beach saw the “topping out” of its South Tower on Tuesday (Dec 2). The 45-storey tower along Beach Road is the taller of two buildings within the development. Jointly developed by City Developments and Malaysia's IOI Group, the project blends four historic conserved buildings with contemporary design. The South Tower will house a luxury hotel called The South Beach,...
Resale prices of private homes rose slightly last month, according to Singapore Residential Price Index (SRPI) flash estimates, which were released on Friday (Nov 28). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices increased 0.3 per cent in October from the previous month. In September, prices fell 0.7 per cent from a month...
A mixed development site at Holland Village will be put up for sale next month. Usually, tenders are awarded to the highest bidder. But for this site, authorities are exploring various sales mechanisms. They could include asking developers to submit their plans for the site before accepting their bids. The Urban Redevelopment Authority (URA) said details such as the method of sale are still being firmed...
OUE Hospitality Trust (OUE H-Trust), which owns Mandarin Orchard Singapore and the adjoining Mandarin Gallery, will buy Crowne Plaza Changi Airport and the Crowne Plaza Changi Airport Extension for a total of S$495 million. It said on Friday (Nov 28) that conditional agreements have been made to acquire Crowne Plaza Changi Airport for S$290 million, as well as the extension for another S$205 million...
China's housing prices fell on a monthly basis for the seventh straight month in November, a survey showed on Sunday (Nov 30), with the market yet to feel the full impact of an interest rate cut. The average price of a new home in China's 100 major cities was 10,589 yuan (US$1,736) per square metre in November, down 0.38 per cent from October, the independent China Index Academy said in a statement. The...
The Urban Redevelopment Authority (URA) has released a two-hectare commercial site at Beach Road for sale, under the Reserve List of the second half of the Government Land Sales (GLS) Programme. The site fronts Beach Road, Rochor Road and Nicoll Highway, and has a 99-year lease period. In a press release issued on Wednesday (Nov 26), URA said the future development on the land parcel can go up to 45...
The real estate industry has urged the Government to be prepared to take "supportive measures" to prevent a tipping point, if the property market turns volatile and worsens further. Speaking at the Real Estate Developers' Association of Singapore's (REDAS) 55th anniversary dinner on Wednesday evening (Nov 26), the association's president Mr Chia Boon Kuah added that the looming supply of 68,000...
City Developments’ (CDL) deputy chairman, Kwek Leng Joo, has said the property developer reaped a total savings in energy consumption of US$16 million (S$21 million) from its 37 Green Mark Gold-rated buildings from 2008 to 2011. He was speaking on sustainability at the 2014 Annual Asia Competitiveness Institute conference on Wednesday (Nov 26). CDL's sustainability efforts include the adoption of more...
JTC Corporation has launched three land parcels for sale under the Industrial Government Land Sales (IGLS) programme: Two Confirmed List sites at Tuas South Street 11 and Tampines Industrial Drive, and one Reserve List site at Tampines Industrial Drive. In a news release on Tuesday (Nov 25), JTC said all three are zoned for Business-2 development. The 1-ha site at Tuas South Street 11 has a 20-year...