General

Singapore is unlikely to ease property cooling measures as it heads into a high-stakes election that could take place in the first half of next year. Although several developers, including second-largest City Developments, have called upon the government to loosen curbs to help fix an apartment glut, such a move could cost the ruling People's Action Party votes. Relaxing property curbs risks sending...

Prices of private homes in Singapore are expected to show modest growth over the next two years, riding on macro-prudential measures and stable mortgage performance, anchored by strong household finances. This is according to the latest findings from Fitch Ratings' Global Housing and Mortgage Outlook report. Overall, the rating agency expects nominal home price growth to remain at about 2 per cent in...

Sales of new private homes rose 23 per cent in November from the previous month, boosted by demand for projects launched during the last two years. Developers sold 1,147 homes, excluding executive condominiums, in November, compared with 931 homes in October, according to data compiled by the Urban Redevelopment Authority (URA). Year-on-year, however, sales were 4.5 per cent lower than the 1,201...

More flats will be built next year to meet greater demand for public housing, National Development Minister Lawrence Wong said on Monday (Dec 16). Between 16,000 and 17,000 Build-to-Order (BTO) flats will be launched next year, up from 14,600 flats this year, he said. In a post on his ministry's blog, Mr Wong said that the Government was "doubling down on our efforts to build affordable flats and...

Colliers International has extended the tender submission date for the en bloc sale of The Arcade in Raffles Place by two months till March 5, 2020, at 3pm. This is because developers had asked for more time to assess the site, Colliers said in a press statement on Monday. The original deadline was Jan 8, 2020. Meanwhile, Colliers has also increased the land rate for the site after receiving the...

Singapore's private housing market is poised for modest price growth next year, amid a resilient leasing market. However, developers are expected to continue being challenged by the significant supply of unsold private housing units in the pipeline although, by some estimates, the oversupply could ease by the end of 2021. Data from the Urban Redevelopment Authority (URA) shows that as at the end of the...

Singapore real estate agency and advisory group OrangeTee Holdings has changed its name to OT Group (OTG), it announced in a press statement on Monday. The rebranding is meant to reflect a "unified identity" for the group, following the merger of its real estate agency arm with the agency arm of real estate consulting firm Edmund Tie & Co in 2017, OTG said. Its existing real estate agency will...

Sim Lim Square retail mall is up for collective sale under a second tender, following the discovery of an extra 27 per cent built-up space. SLP International Property Consultants Pte Ltd said the mall, located at the apex of the Ophir-Rochor corridor, will be put up for collective sale via public tender on Dec 16, 2019. Built in 1985, the strata titled retail mall is a 99-year leasehold site sitting...

Around 16,000 to 17,000 Build-To-Order (BTO) flats will be launched in 2020 to meet additional demand following key policy changes this year, National Development Minister Lawrence Wong announced in a blog post on Monday morning. New flats will be available in Sembawang and Toa Payoh next February and in May, new flats will be launched in Choa Chu Kang, Tengah, Pasir Ris and Tampines. The Ministry...

Singapore's sovereign wealth fund said it had signed a deal to buy a logistics real estate portfolio from funds managed by private-equity firm Apollo Global Management's affiliates for about €950 million (US$1 billion). The portfolio comprises 28 logistics assets across Europe, including in Germany, Poland, Slovakia, Netherlands, Belgium and Austria, GIC said in a statement on Friday (Dec 13). It...