Investors should sell their residential investments in Singapore. The property market, which has been gradually declining, does not need any new action to tip it over. Just the sheer number of new homes being supplied both in Singapore and Iskandar will drive prices lower. New private home sales in Singapore have plunged in the past three months to about 40 per cent of the monthly average of the past...
General
There has been a positive response to the JTC LaunchPad initiative. The first startup hub at Block 71 Ayer Rajah Crescent is already oversubscribed, said Minister of State for Trade and Industry Mr Teo Ser Luck on Monday (Sep 22) while touring local engineering startup Hope Technik. Mr Teo added that more than 90 per cent of available space will be occupied by the time the hub is ready. "We are very...
Citimac Industrial Complex at the junction of Macpherson Road and Paya Lebar Road has been put up for collective sale, with the owners seeking bids of S$550 million and above. Cushman & Wakefield, which is handling the en-bloc sale, described the complex as a rare developable site near the Paya Lebar iPark vicinity and the Paya Lebar Regional Centre. According to Cushman, Citimac occupies a land area...
Far East Hospitality Trust will take a 30 per cent stake in a S$443.8 million hotel project being developed by its parent organisation on the resort island of Sentosa, the hotel real estate investment trust said on Monday. In March this year, Sentosa Development Corporation awarded a tender for a heritage hotel site at Artillery Avenue, Sentosa to a unit of Far East Organization, the Singapore-based...
The Republic’s private housing market was once again stagnant in August with new home sales falling to the lowest level seen this year, partly owing to developers who held back offering during the inauspicious Hungry Ghost Festival. A total of 432 new private homes were sold last month, compared with the 509 units transacted in July and the weakest sales volume since December last year when only 259...
A property agent with Huttons Asia will be charged with breaching the Do Not Call (DNC) requirements under the Personal Data Protection Act (PDPA). In a news release issued on Monday (Sep 22), the Personal Data Protection Commission (PDPC) said it had received complaints of unsolicited telemarketing messages allegedly sent by the property agent advertising various residential developments in Singapore....
The private housing market remained in the doldrums in August, with sales of homes falling 15 per cent from the previous month as developers continued to scale back new launches. Excluding executive condominiums (ECs), developers sold 432 new units last month, down from the 509 units sold in July, data from the Urban Redevelopment Authority showed on Monday (Sep 15). Including ECs, 490 new units were...
Keppel REIT will buy a one-third stake in Marina Bay Financial Centre (MBFC) Tower 3 for S$1.25 billion from Keppel Land, in one of the largest property market deals this year. The price, which works out to around S$2,790 per square foot, is based on independent valuations by property consultancies Cushman & Wakefield and Savills. Keppel REIT will pay for the property through a mix of cash and new units...
Developers of executive condominiums (ECs) had been enjoying roaring business, up until measures introduced by the Government last year curbed demand and eased the pace of new project launches. The measures included a rule that restricts developers from selling units until 15 months from the award of the sites or after foundation works are completed. In addition, the Mortgage Servicing Ratio (MSR) for...
The owner of BIG hotel, located at 208 Middle Road, is looking for buyers, announced commercial real estate company Jones Lang LaSalle (JLL) on Wednesday (Sep 17). Formerly the Prime Centre commercial building, the 308-room boutique hotel first opened in May 2013 after extensive renovations. The 16-storey property includes facilities such as a multi-storey car park, three retail and food & beverage...