In a blogpost on Monday (Aug 11), National Development Minister Khaw Boon Wan said the National Parks Board (NParks) will work to reopen the Bukit Timah Nature Reserve as soon as possible, and promised the restoration works will offer a "whole new experience for Singaporeans". It was announced in June that the Nature Reserve will be closed from Sep 15, 2014, for six months to repair affected slopes and...
General
Prices of HDB resale flats have continued to fall for the sixth straight month, dipping 0.9 per cent in July compared to June. That is also a 29-month low since February 2012. This is according to the Singapore Real Estate Exchange (SRX), which released its monthly flash report on Thursday (Aug 7). As for resale volume, SRX data showed there was a slight month-on-month increase, with about 1,341 HDB...
Two sites in Sengkang put up for sale under the Government Land Sales (GLS) programme have received lower-than-expected bids in yet another sign of a softening private residential market. The 178,723 sq ft Fernvale Road Parcel A received four bids, with CEL Development and Unique Residence jointly putting in the top bid of S$234.9 million, or around S$438.20 per square foot per plot ratio (psfppr),...
The resale prices of Housing and Development Board (HDB) flats continue its downward spiral in July, slipping 0.9 per cent from June to mark a 29-month low since Febuary 2012, the Singapore Real Estate Exchange (SRX) said on Thursday (Aug 7). Prices for 3-, 4-, and 5-room flats declined by 1 per cent, 1.8 per cent and 0.4 per cent, respectively, last month, but executive flats saw a slight 0.1 per cent...
Amid a more competitive retail landscape in Singapore, more shopping malls have been undergoing asset enhancements. According to property analysts, the number of such initiatives has nearly doubled in the last five years, with landlords and mall developers expected to continue with improvement works to their retail properties in order to attract more shoppers and retain tenants. One of the many shopping...
Far East Hospitality Trust, a Singapore-focused hotel and serviced residence property trust, will pay 13.3 per cent less in distribution per stapled security as occupancy at its hotels fell amid a plunge in visitor arrivals from China. Far East Hospitality, whose properties include Rendezvous Hotel and Village Hotel Albert Court, will pay 1.24 Singapore cents per stapled security for the quarter ended...
International real estate services firm JLL has bought a 20 per cent stake in home-grown PropNex International in a bid to grow its Singapore residential property business. PropNex International - the project marketing arm of PropNex - specialises in marketing new property developments. Its current projects include City Gate at Beach Road, Commonwealth Towers at Alexandra and Thomson Grand. JLL had...
Chinese property developers wary of poor sales amid the country’s industry downturn are giving expensive government land auctions the cold shoulder, with plots in the capital going unsold for the first time since April 2011. The poor reception highlights the persistent mismatch in price expectations between developers and local governments. Cash-tight developers are seeking lower prices while local...
Existing concessions are already in place for those looking to upgrade their properties, and these are "reasonable and sufficient", said Minister for National Development Khaw Boon Wan on Monday (Aug 4). MP Foo Mee Har asked in Parliament on Monday if the Government will consider relaxing some property cooling measure such as those relating to Additional Buyer's Stamp Duty so Singaporeans who meet the...
Moody's Investors Service says that a healthy operating environment and manageable refinancing risk continue to support the stable outlook for the Singapore Real Estate Investment Trust (S-REIT) sector. Moody's rates 17 S-REITs, of which 16 carry stable outlooks. The exception is Mapletree Commercial Trust, whose Baa2 rating carries a positive outlook. Jacintha Poh, a Moody's assistant vice president...