Private property market prices in Singapore may be levelling off at a new support level after five years of cooling measures that have been very effective at stalling the market. However, it appears the effectiveness of the measures has levelled off. Barring major catastrophes such as war, epidemics or financial crises, private property prices are expected to hold up, unless more resale supply is...
General
Singapore's largest condominium project d'Leedon, near Farrer Road, marked its completion on Saturday (Oct 25). But the 1,715-unit development, which was launched for sale two years ago, still has 254 unsold units - comprising mostly four-bedroom units - as of last month. And to move sales, its developer CapitaLand Singapore said it will be refurbishing 30 units with additional designer furnishings....
A 300-room luxury hotel that Singapore's Oxley Holdings will build in Phnom Penh is slated to be the first Shangri-la hotel in Cambodia. This was revealed at the signing of a Memorandum of Understanding (MOU) between Oxley Gem (Cambodia) and Shangri-La International Hotel on Thursday (Oct 23), whereby the luxury hotel operator will get a 60-day exclusivity period to negotiate the management of the...
Prices of private residential properties in the third quarter fell by 0.7 per cent from the previous quarter – the fourth consecutive quarter of decline, the Urban Redevelopment Authority (URA) said on Friday (Oct 24). The price decline was observed across all segments of the private residential property market, URA said. Prices of non-landed properties in the Core Central Region (CCR) declined by 0.8...
Prices of office space increased by 1.6 per cent in the third quarter of the year, while rental prices of office space rose 2.6 per cent in the same period, the Urban Redevelopment Authority (URA) said on Friday (Oct 24). In the same period, vacancy rate of office space fell to 8.4 per cent, compared to 9.6 per cent at the end of the second quarter. The URA said that this was in part due to a 47,000sqm...
Prices of resale flats fell by 1.7 per cent on-quarter in the third quarter of 2014, while the number of resale transactions rose 2.8 per cent, according to the Housing and Development Board (HDB). HDB on Friday (Oct 24) announced that the Resale Price Index (RPI) fell from 195.7 in the second quarter to 192.4 in the third quarter. Resale transactions increased from 4,389 cases in the second quarter to...
On Monday (Oct 20), National Development Minister Khaw Boon Wan said that there will be a 25 per cent drop in the number of Build-to-Order (BTO) flats launched next year. However, real estate analysts believe that a lower number of BTO flats next year will not have a significant impact on the resale market. Analysts Channel NewsAsia spoke to said that while first-time home buyers may consider resale...
Industrial land prices and rentals have continued to moderate in the third quarter of this year, according to the latest quarterly report on industrial properties by JTC. Industrial land prices in the third quarter fell 0.9 per cent from the previous quarter, following a 0.7 per cent rise in the previous quarter. However, on a year-on-year basis, prices edged up 0.2 per cent. In the multi-user...
To prevent a glut in the public and private housing markets, the Government will further reduce the supply of Build-to-Order (BTO) flats and land sales for private properties. Minister for National Development Khaw Boon Wan announced the reduction in BTO supply during his appearance on Channel 8’s Hello Singapore programme yesterday. The supply of BTO flats for this year was reduced to 22,400...
GIC has acquired the office component of Pacific Century Place Marunouchi in Tokyo, Singapore's sovereign wealth fund announced in a press release on Tuesday (Oct 21). While GIC did not announce the cost, Reuters had earlier quoted sources as saying that the office tower was valued in the region of ¥170 billion (S$2 billion). The 32-storey mixed-use development was acquired through a GIC affiliate,...