In a further sign that the high-end residential segment remains stuck in the doldrums, one developer is making the relatively bold move of offering all units in a District 10 condo in a bulk sale at a relatively cheap price, in an attempt to improve cash flow. Developed by Hiap Hoe, the 48-unit Treasure on Balmoral is being offered at a guide price of S$191.4 million, or S$1,850 per square foot (psf),...
General
Rents for prime warehouse space in Singapore weakened for the third straight quarter in the April-June period, according to the latest report by property services firm Colliers International on Friday (July 11). It estimates that the average monthly gross rents of ground-floor warehouse space fell 1.6 per cent quarter-on-quarter to S$2.54 per square foot per month. The average rent for upper-floor...
Leasing activity in Singapore's industrial property market continued to gain momentum in the second quarter of this year, but sales remained weak. This is according to the latest quarterly report by property consultant, Colliers International. It said that the outlook for the sector for the rest of the year is mixed. Colliers said the increase in the number of committed leasing deals was driven...
Leasing activity in Singapore's industrial property market continued to gain momentum in the second quarter of this year, but sales remained weak. This is according to the latest quarterly report by property consultant, Colliers International. It said that the outlook for the sector for the rest of the year is mixed. Colliers said the increase in the number of committed leasing deals was driven...
Property analysts are expecting prime office rents in the central business district (CBD) to rise by 10 per cent over the next 12 to 18 months. The increase will be driven largely by demand for Grade A office buildings in the CBD. But if rents there spike significantly, analysts warn that some tenants could move to the suburban areas. Market watchers have said that rent at Grade A office buildings...
There has been growing demand to convert land for use as new hotels, boarding houses and backpacker hostels. As such, the Urban Redevelopment Authority (URA) said it is tightening guidelines to ensure there is a good mix of commercial uses to meet the needs of visitors and residents. Earlier this week, the URA issued a circular to the industry, outlining new measures to curb the potential proliferation...
A residential site at Sembawang Avenue has received only four bids. A consortium comprising FCL Tampines Court and KH Capital submitted the highest bid of about S$214 million for the 22,189.7 square metre site. That translates to a unit price of about S$320 per square feet per plot ratio (psf ppr). The second highest bid for the site came from a consortium that includes Verwood Holdings and TID...
The resale prices for Housing and Development Board (HDB) flats fell to a two-year low after it slipped 0.6 per cent month-on-month in June - the fifth consecutive months of declines, according to the Singapore Real Estate Exchange. According to the SRX HDB flash report released on Thursday (July 10), the price drop affected 3-, 4- and 5-room flats, which saw a price decline of 0.6, 0.8 and 0.3 per...
Singapore's office market is recovering but central business district rents are unlikely to rise dramatically as much of the new demand is from tenants who are more price-sensitive, real estate services firm Chestertons said on Tuesday (July 8). According to Chestertons, firms in sectors such as energy, commodities and technology do not necessarily require prime CBD locations and will be among the first...
Singapore property giant Frasers Centrepoint Ltd (FCL) has got clearance from the Foreign Investment Review Board of Australia (FIRB) to go ahead with plans to buy Australand Property Group in a deal worth around A$2.6 billion. In a statement to the Singapore Exchange on Wednesday, FCL said it has received a "statement of no objections" from FIRB in relation to its proposed acquisition of up to 100...