General

Private home prices in Singapore rose for the third consecutive quarter in 2019, as the Urban Redevelopment Authority's (URA) flash estimate for the fourth quarter of 2019 shows that its overall price index for private homes rose 0.3 per cent over the prior quarter. For 2019 as a whole, prices are up 2.5 per cent, versus the 7.9 per cent rise seen in 2018, according to the URA flash data released on...

The prices of Housing Board (HDB) resale flats rose by 0.4 per cent in the last three months of 2019 as compared with the third quarter, in what was the largest quarter-on-quarter increase last year, latest public housing figures show. Based on flash estimates, there was no change in resale flat prices for the whole of last year, according to HDB, which released the data on Thursday. As for upcoming...

Following the cooling measures in 2018, commercial collective sales surpassed residential en bloc sales by value this year, a trend which is expected to continue into 2020. According to data by JLL, approximately 40 sites were launched for collective sale this year, as at Dec 13. Five sites totalling some S$461 million were sold, of which only one is a wholly residential site - apartment block Sophia...

The Robinson Centre building has been sold to a private fund managed by ARA Asset Management Limited, according to Sakal Real Estate Partners, which managed the transaction. The 20-storey office building at 61 Robinson Road is located in the Central Business District and has a net leasable area of over 130,000 sq ft. When contacted, Sakal said both buyer and seller agreed not to disclose the...

The Housing and Development Board on Monday released two executive condominium (EC) sites, one along Fernvale Lane and the other on Tampines Street 62. Both 99-year leasehold land parcels can yield up to a total of 1,100 residential units. The Fernvale site was launched for sale by public tender, under the confirmed list of the H2 2019 government land sales (GLS) programme. It spans some 17,130...

United Engineers (UE) on Friday morning said it has lost its free float and will be delisted after the close of Chinese developer Yanlord Land Group's mandatory conditional cash offer. As at 5pm on Thursday, Yanlord owned, controlled or has agreed to acquire about 90.27 per cent of UE's ordinary shares. That means that less than 10 per cent of UE shares are now held by the public. The...

The government has once again trimmed industrial land supply for the first half of 2020 under its Industrial Government Land Sales (IGLS) programme. Industrial land supply fell to 7.11 hectares (ha) in total site area. The number of sites in the confirmed and reserve lists were also reduced. The Ministry of Trade and Industry (MTI) announced on Friday that there are three sites in the confirmed list...

A property agent has been fined S$27,000 for altering lease agreements to collect additional commissions, the Council for Estate Agencies (CEA) said in a statement on Monday (Dec 23). George Peh Meng Woon of KF Property Network has also had his CEA registration suspended for 10 months. The 45-year-old committed the breaches several years ago, when he was a property agent with DTZ Property...

Singapore's property market has been nothing but resilient in 2019. In particular, the residential primary sales market stood out as demand strengthened in the second half of the year even as trade tensions between the United States and China escalated, and the 2019 economic outlook for Singapore dimmed. Developers sold 29 per cent more new homes in the five months between July and November 2019,...

Singapore's total real estate investment volume fell 31.8 per cent to S$22.83 billion as at Dec 13, the lowest volume since 2016, according to CBRE on Thursday. This was due to a slower collective sales market this year compared with a year ago. The previous year saw a few large collective sale sites being transacted, along with the award of two Government Land Sale (GLS) sites worth over a billion...