Prices of private residential properties increased by 1.0 per cent in the second quarter of 2013. The increase in Q2 prices was higher than the flash estimate of a 0.8-per cent rise. In the first quarter, the price growth was 0.6 per cent. This is according to the latest figures released by the Urban Redevelopment Authority (URA). Prices of non-landed properties in the core central region dipped...
General
The Resale Price Index (RPI) for HDB flats rose slightly by 0.5 per cent from 205.5 in the first quarter of 2013 to 206.6 in the second quarter of 2013. This is lower than the 1.3-per cent growth in the previous quarter and is the lowest quarterly growth since first quarter of 2009. Resale transactions increased by 21 per cent from 4,335 cases in the first quarter of 2013 to 5,235 cases in the second...
Singapore's central bank said rising household debt in the city-state is worrying, and that it is "important to act now to limit build-up of leverage". Housing loans account for 45 per cent of GDP, up from 35 per cent three years ago. The rising levels of borrowings in the local real estate sector is a concern, said the Monetary Authority of Singapore (MAS). Ravi Menon, managing director of the MAS,...
BIG Hotel, a newly opened 16-storey hotel located at 200 Middle Road, has been put up for sale. The hotel sits on a freehold site of about 20,162 square feet. The development has 308 rooms, 3 retail shops and 40 car parking lots, occupying a total gross floor area of 94,657 sq ft. Marketing agent Colliers International said the sale is subject to the retention of the existing brand name and hotel...
An industrial site at Woodlands Industrial Park E9 has attracted 10 bids, according to the Urban Redevelopment Authority (URA). Incorporated Woodlands, a subsidiary of Incoporated Builder, was the top bidder for the 30-year lease land parcel with a bid of S$72.69 million. This works out to be approximately S$161 per square foot per plot ratio. The top bid was about 50 per cent more than the second...
CapitaMalls Asia reported a profit after tax and minority interest (PATMI) of S$245.6 million in the second quarter of 2013. This marked a 5.9 per cent growth over the previous year. According to CapitaMalls Asia, its improved profitability was due to contributions from new malls, asset enhancement initiatives and acquisitions of stakes in four Japan malls in 2012, as well as profit recognition for...
Demand for executive condominiums (ECs) has remained buoyant, with another such private-public housing development receiving a robust response at its opening weekend. The 380-unit Lush Acres in Sengkang by City Developments was oversubscribed by about 1.6 times as of Sunday, the developer said yesterday. The announcement followed the launch a week earlier of Ecopolitan in Punggol by Qingjian Realty,...
Singapore Press Holdings (SPH) will be raising S$504 million in an initial public offering of its retail-focused real-estate investment trust. According to its prospectus, SPH REIT plans to sell its units at 90 Singapore cents each, representing the top-end of the indicative price range of 85 Singapore cents to 90 cents. The trust is selling 308.9 million units to institutional and public investors....
CapitaCommercial Trust (CCT) said higher revenue and lower interest expenses have pushed its second quarter distributable income up 1.9 per cent on-year to S$59.6 million. Meanwhile, CCT's distribution per unit (DPU) rose 0.5 per cent on-year to 2.07 cents per unit. The real estate trust's gross revenue also grew in Q2, up 1.8 per cent on-year to S$97.5 million. CCT's new and renewed Grade A...
A residential site in Tampines had attracted 10 bids at the close of its tender on Tuesday, according to the Urban Redevelopment Authority (URA). MCC Land (Singapore) Pte Ltd is the highest bidder at S$289.7 million for the 184,000 square feet land parcel. This works out to S$562 per square foot per plot ratio. The top bid is 7.6 per cent higher than the second-highest bid of S$269.2 million...