The number of Housing and Development Board (HDB) resale flats sold fell to an all-time low in the first quarter of this year, with 3,781 units transacted. This is the lowest figure recorded since HDB started releasing quarterly resale transaction volume data in 1997. Both public and private units have also registered price declines in the first quarter, with the private market seeing its largest...
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Property group CapitaLand has posted a first quarter net profit of S$182.8 million, down 1.7 per cent compared to a year ago. The lower profit was due to a S$58.7 million one-off gain recorded in the same quarter last year. Excluding the one-off gain, CapitaLand's operating net profit rose nearly 30 per cent to S$155.7 million from the first quarter of 2013. In a statement on Friday, CapitaLand...
United Industrial Corporation (UIC) and its concert partners have raised their stake in Singapore Land to 97.27 per cent at the close of its takeover offer on Friday. This means UIC can now take the mainboard-listed firm private. Under the regulations, UIC needs SingLand's public float to fall below 10 per cent before it can delist the company from the Singapore Exchange (SGX). In a late statement on...
Resale prices of Housing and Development Board (HDB) flats fell 1.6 per cent in the first three months of 2014 from the last quarter of 2013, while private home prices declined by 1.3 per cent, according to data released on Friday. The 1.6 per cent drop in the HDB resale price index was larger than the advance estimate of a 1.5 per cent decline made earlier this month. Singapore home prices have...
Rentals and sale prices of industrial space continued to climb at a moderate pace in the first quarter of the year, amid a marginal drop in occupancy rates during the same period, a quarterly report released by JTC yesterday showed. The report showed that rentals rose 0.4 per cent on-quarter during the January-to-March period, higher than the 0.2 per cent growth in the previous three months. On a...
Businesses looking to buy or rent industrial properties in Singapore will be able to make more-informed decisions on where to look and how much they should be paying, following JTC’s move to make available more-detailed information on current trends in a bid to introduce more transparency into the market. The move comes as concerns have been raised about the cost of commercial property in Singapore,...
Industrial property occupancy rates fell 0.3 percentage points on a quarter-on-quarter basis to 91.6 per cent, based on latest data from Singapore's lead industrial infrastructure developer JTC Corporation. JTC said the decline follows an increase in industrial land and space supply by the government in recent years. Prices of industrial space continued to moderate compared to previous years. In...
United Industrial Corp (UIC) has crossed the 90 per cent shareholding level needed to de-list Singapore Land (SingLand) from the Singapore Exchange, according to a disclosure statement late on Wednesday. UIC, a property and investment firm whose major shareholders include Singapore banker Wee Cho Yaw and Philippine tycoon John Gokongwei, now controls 90.15 per cent of SingLand. SingLand's properties...
Last week, a commercial site in Woodlands attracted strong interest from developers, including some of the biggest names in the business. Yesterday, the Government awarded the tender to a consortium of Far East Civil Engineering, Tannery Holdings and Sekisui House, which had beaten seven other bids with its offer of nearly S$634 million. That translates to about S$907 per square foot per plot ratio...
China’s slump in property sales and construction is spurring speculation that the government’s four-year-old campaign of real estate controls will start to crack. Citigroup analysts see “targeted easing” in curbs including home purchase restrictions, while Centaline Group, the parent of China’s biggest real estate brokerage, says some cities are inclined to adjust policies, such as the level...