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...
General
Private residential property sales slumped again in June after a burst of activity in the previous month, with developers scaling back new launches in the expectation that the school holidays and the World Cup would further sideline potential buyers in an already cautious market. Sales of new private homes plunged 68 per cent from May’s 1,488 units to 482 homes, data released by the Urban...
Sellers of Housing and Development Board (HDB) flats will be able to negotiate with their buyers for a temporary extension of stay in their flats, allowing them to stay in their former homes for up to three months, the HDB said on Tuesday (July 22). The new rule, which takes immediate effect, will facilitate sellers who are transiting to their next homes, including those who may need more time for...
Spring Grove, a condominium along Grange Road, has been put up for sale by tender. According to its marketing agent Knight Frank Singapore, the owners are expecting offers in excess of S$1.39 billion. This includes a lease top-up premium for a fresh 103-year lease. That will make it the the largest ever enbloc sale in Singapore, in terms of value. Spring Grove sits on a site with a land area of about...
With growing internet connectivity, there is increasing demand for data centres which house hardware servers to support networks and databases. Industry observers say demand in Singapore is also driven by its status as a regional hub. Keppel T&T already owns two data centres in Singapore and it is building a third. It says growth in internet and mobile usage, as well as cloud computing, is driving...
More than 90 per cent of the outlets at the new food and beverage cluster at Punggol Point have been taken up; three months after the site received its Temporary Occupation Permit in April 2014. Tenants at Punggol Settlement hope it will become the next go-to seafood dining location after East Coast. With a growing population in the area and more recreational facilities coming up, some tenants say...
Singapore's Centurion Corp, which is best known for its worker dormitories, is diversifying into student accommodation in the United Kingdom with the proposed acquisition of four properties for £77 million (S$164.5 million). The four properties -- Manchester Student Village, Manchester Student Village South, The Grafton in Manchester and Cathedral Campus in Liverpool -- have a total of 1,906...
Resale prices for non-landed private residential homes continued to fall in June, reaching a 1.5-year low, according to the latest report by the Singapore Real Estate Exchange (SRX) on Monday (July 14). Overall resale prices fell 1.4 per cent month-on-month to hit an 18-month low, with prices at their lowest since December 2012, according to the SRX Flash Report. Compared to the price peak in January...
The Housing and Development Board (HDB) and Singapore Land Authority (SLA) has earmarked a 1.23-hectare plot of land at the junction of Syed Alwi Road and King George's Avenue for public housing development. In a joint statement on Monday (July 14), the agencies said the land is zoned for residential use in the Master Plan and comprises mainly of vacant State land and a private industrial property at...
China’s financial centre, Shanghai, is allowing a developer to seek the highest-ever home prices in the city, in an effort to boost its sluggish luxury home market. Shenzhen Overseas Chinese Town can set prices as high as 298,000 yuan (S$59,700) per square metre for its high-end residential properties, said the website of the city’s real estate trading centre. This is a record asking price for the...