JTC Corporation on Tuesday (July 29) launched two industrial sites at Tuas for sale under the second half 2014 Industrial Government Land Sales (IGLS) programme. The two sites - at Tuas Bay Close and Tuas South Street 7 - were launched as part of the Government's efforts to provide industrial space and offer more choices for industrial development, the company said in its statement. For the Tuas Bay...
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Keppel Land has made its maiden investment in the United States by taking a stake in a prime New York City residential development. Keppel Land, one of Singapore's largest developers, said on Monday it will invest about US$70 million (S$87 million) in a residential property located on the Upper East Side in Manhattan. It will also comprise a retail component, and is a five-minute walk from office...
The office rental market continues to grow ahead of the retail and industrial property segments. Latest data from the Urban Redevelopment Authority (URA) on Friday (July 25) shows that rentals of office space rose 2.8 per cent in the second quarter of 2014, compared with a 2.4 per cent increase in the first quarter. Analysts say they could climb by another 5 per cent in the second half of this...
Prices have continued to fall in the private home and HDB resale markets in the second quarter of this year. But more units were sold in both markets, according to the Housing Development Board (HDB) and the Urban Redevelopment Authority (URA). This is the fourth consecutive quarter that HDB resale prices have fallen. Despite that, more transactions were made with about 4,389 resale flats sold. This is...
The Hungry Ghost Month begins on Sunday (July 27) and observers say the private residential market will likely see fewer launches during that period compared to previous years, in light of current weak buying sentiments. However, they also say some launches may still take place if developers are confident in their pricing and product offerings. The seventh month of the lunar calendar, better known as...
Prices of private residential properties in the second quarter fell by 1 per cent from the previous quarter – the third consecutive quarter of decline, the Urban Redevelopment Authority (URA) said on Friday (July 25). 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...
Prices of office space were flat in the second quarter after a 0.5 per cent increase in the first quarter, while prices of retail space fell 0.3 per cent after remaining unchanged in the previous quarter, the Urban Redevelopment Authority (URA) said on Friday (July 25). Rental prices of office space in the second quarter rose 2.8 per cent from the previous three months, following the 2.4 per cent...
While the number of transactions for HDB flats rose by 16 per cent in the second quarter of the year from the previous three months, resale prices for public housing fell by 1.4 per cent over the same period, the Housing and Development Board said on Friday (July 25). The Resale Price Index slipped to 195.7 in the second quarter, down from 198.5 in the January-March period, but resale transactions...
Prices and rentals of industrial space continued to moderate in the second quarter, as industrial occupancy rates continued to fall, according to a quarterly report by JTC. Released on Thursday (July 24), the report said industrial occupancy rates in the second quarter fell by 0.9 percentage point from the previous quarter to 90.7 per cent – the lowest level since late 2007. For multiple-user factory...
The property market may be stabilising but it is still "too early" to ease the cooling measures that were introduced in recent years, the Monetary Authority of Singapore (MAS) said on Thursday (July 24). This is because home prices remain elevated while global interest rates are at historical lows, MAS Managing Director Ravi Menon said. Speaking at the release of MAS' annual report for the 2013/14...