The number of mortgagee sales at property auctions in Singapore jumped sharply during the first three months of this year -- a sign that owners in financial difficulty are finding it harder to dispose of their properties. Figures compiled by real estate consultancy Colliers International showed 22 mortgagee listings during the first quarter, far higher than the average of eight mortgagee listings per...
General
Areas around the Cashin House, near the Sungei Buloh Wetland Reserve, have the potentials for further development, according to an analyst. The house is uniquely built on a pier, hence nicknamed "The Pier", located at the coast of Lim Chu Kang. It is visible from the Lim Chu Kang Jetty, and has a panoramic view of the Johor Strait in the southern state of Malaysia. Cashin House is set to be a new...
The Housing and Development Board (HDB) launched four Build-To-Order (BTO) projects on Wednesday, offering 3,497 new flats in the non-mature towns of Sembawang, Sengkang and Yishun. The new flats comprise 2-room to 5-room flats, and Three-Generation (3Gen) flats. In a statement on Wednesday, HDB said the new flats are meant to meet the diverse housing needs of first-time buyers, second-timers,...
Ascendas Hospitality Trust has agreed to buy the Osaka Namba Washington Hotel Plaza in Osaka, Japan for 8.9 billion yen (S$110.8 million) in a deal that would diversify its portfolio and boost returns. The purchase price that will be paid to Ainodake Godo Kaisha is 3.3 per cent below the independent property valuation of 9.2 billion yen made by Savills Japan. The hotel will continue to be leased to...
Some analysts expect rentals of private homes in Singapore to fall for the second straight quarter ending in March this year, as a higher supply of new projects is expected to come on stream. Chesterton Singapore estimates that overall rentals could fall by 0.5 to 1 per cent in the first quarter. This comes after rentals slipped 0.5 per cent in the last quarter of 2013, the first decline in four...
The Housing and Development Board (HDB) said on Tuesday that another 399 units in Eunos Industrial Estate will have to move out to facilitate the future redevelopment of the area. The affected units are located in 26 blocks at Eunos Road and Eunos Avenue 3, 4, 5, 5A, 6, 7 and 8. They are the fourth batch of units in Eunos Industrial Estate to be affected by HDB's Industrial Redevelopment Programme...
US casino giant Las Vegas Sands may be keen to build more hotel rooms in Singapore, but the company has not made any formal proposal to authorities here. The world's biggest casino operator plans to add 1,500 rooms to its Marina Bay Sands integrated resort in Singapore, the firm's billionaire founder Sheldon Adelson said last week. A news report had quoted Mr Adelson as saying that Las Vegas Sands...
Minority shareholders of Singapore property group SingLand should accept the S$8.40 a share offer by United Industrial Corporation (UIC) as the price is fair and there is a risk that they could end up holding shares in an unlisted firm, independent financial adviser ANZ said on Monday. They can, alternatively, sell their SingLand shares on the open market since the shares are currently trading well...
Las Vegas Sands has asked the Singapore authorities for more land to increase rooms at its Marina Bay Sands resort by about 60 per cent after facing almost full occupancy, billionaire Chairman Sheldon Adelson said yesterday. The world’s biggest casino operator plans to add 1,500 rooms to the 2,563-room resort, Mr Adelson said at a briefing here. It will also add meeting rooms, ballrooms and exhibition...
Cash-strapped Chinese are scrambling to sell their luxury homes in Hong Kong and some are knocking up to a fifth off the price for a quick sale as a liquidity crunch looms on the mainland. Wealthy Chinese were blamed for pushing up property prices in Hong Kong, where they accounted for 43 per cent of new luxury home purchases in the third quarter of 2012, before a tax hike on foreign buyers was...