CapitaLand, CapitaMalls Asia and CapitaMall Trust have signed an option to sell Westgate Tower for S$579.4 million. In a filing with the Singapore Exchange, CapitaLand said the option was granted to a consortium comprising Sun Venture Homes and Low Keng Huat (Singapore), which has up to January 24 to exercise it. Located at Jurong Gateway, Westgate Tower is the office component of the Westgate...
General
The Changi Village area is on track to be developed into a sports and recreational centre. And analysts said the recently completed Changi Cove hotel near Hendon Road could be part of the government's plan to develop the entire area into a resort and corporate retreat site. Some of the colonial buildings around Changi Village are currently undergoing upgrading. There are plans to redevelop them...
Two private residential projects are expected to be launched for viewing on Saturday. But property agents said booking of units will only start mid-January. First off the block is The Panorama at Ang Mo Kio by Wheelock Properties. Prospective buyers can visit the showflat on Saturday to find out more about the 698-unit project. Property analysts estimated the units could go for between S$1350...
Singapore's bid to tame the red-hot property market is showing signs of cooling. Private home prices fell in the fourth quarter of 2013 from the previous three months, its first decline in nearly two years. Preliminary data by the Urban Redevelopment Authority showed the private residential property price index fell 0.8 per cent in the October-December period to 214.5 points. This ended six...
Prices of resale HDB flats fell 1.3 per cent — its sharpest drop since 2005 — in the fourth quarter of last year, according to flash estimates released by the Housing and Development Board (HDB) on Thursday. Last year’s fourth quarter Resale Price Index (RPI) is 202.1, according to HDB in an update released Thursday morning. It is the second consecutive drop for the index, which provides...
The private home rental market is expected to face headwinds in the year ahead, given the large supply of new homes and slower demand due to tighter foreign worker policies. Analysts say rentals, as measured by the Urban Redevelopment Authority’s (URA) Private Residential Rental Index, may plateau and even fall in 2014 - potentially the first drop in four years. The URA’s Private Residential...
The Housing and Development Board (HDB) will reduce the supply of new three-room and larger flats by 18 per cent, from 22,600 units in 2013 to about 18,600 in 2014. In a statement on Monday, it said the adjustment is timely as a better balance has already been struck between the supply of Build-To-Order (BTO) flats and the demand from families for them. At the same time, HDB will increase the supply...
Cooling measures, loan curbs and changes to public housing policies. Property analysts said 2013 has plenty of them and the measures are likely to ensure a more stable real estate market next year. They added that private home prices and demand could continue to moderate in 2014. Over 14,600 units of new private homes, excluding executive condominiums (ECs), were sold in the first 11 months of...
Singapore has been the largest initial public offering (IPO) market across Southeast Asia, raising S$6.2 billion year-to-date. Looking ahead, analysts expect a healthy pipeline of Business Trusts and real estate investment trusts (REITs) to list in Singapore in 2014, despite concerns over rising interest rates. Listing activity in other ASEAN markets such as Indonesia, Malaysia and Thailand is also...
JTC Corporation (JTC) has launched four plots of land at Tuas South for sale by public tender on Friday. The four land parcels are located at Tuas South Streets 6, 11 and 13, and are zoned for Business-2 development with a lease of 21 years and five months. The sites, with land areas ranging from 4,551.4 square metres to 7,447.4 square metres, have maximum permissible gross plot ratios of 1.0. The...