The property auction market in Singapore slowed to a crawl in the second quarter, with both sales volume and value transacted falling sharply from the previous three months, real estate consultancy Colliers International said on Friday. Only four properties worth a total of S$7.05 million were sold via auction in the April-to-June period, down 91.6 per cent from the S$83.44 million recorded in the...
General
The government has released a hotel site at Havelock Road for application from interested developers. In a statement, the Urban Redevelopment Authority (URA) said it has released the detailed sales conditions for the land parcel, which consists of three conserved warehouse buildings fronting the Singapore River. The plot is on the Reserve List for the first half 2013 Government Land Sales (GLS)...
Prospective home buyers can apply for a unit at Ecopolitan, a new executive condominium (EC) project in Punggol from June 28. But don't expect to see any private roof terraces or super-sized units. The 512-unit development is the first project that's affected by new EC guidelines introduced by the government in January this year. China-based property developer Qingjian Realty is set to roll out...
A freehold residential site at 1 Jalan Remaja, off Hillview Avenue, has been put for sale by tender. The site, which is located on elevated ground, has a land area of over 43,500 square feet. According to its marketing agent DTZ Debenham Tie Leung, the site can be developed into a 10-storey condominium with a maximum gross floor area (GFA) of about 83,600 square feet. It added that the new...
National Development Minister Khaw Boon Wan said the government is making progress in engineering a soft landing for the housing market. In his latest blog post, Mr Khaw said one key strategy is to ramp up the supply of flats and private residential units. On public housing, he said the contractors of the Housing and Development Board have completed 6,000 units as of May 31, and are confident of...
How can Singapore create new underground spaces and achieve high standards of liveability even in high-density towns? These are some of the initial research and development focus areas identified, as part of the Land and Liveability National Innovation Challenge (L2 NIC). Senior Minister of State for National Development Lee Yi-Shyan said: "We might ask for instance if we could move goods...
The Monetary Authority of Singapore (MAS) has set new home loan rules which discourage lenders from making property loans that result in individual borrowers using more than 60 per cent of their monthly incomes to service debt. The central bank said in a statement on Friday that the new rules will take effect from Saturday. "The TDSR (total debt servicing ratio) will apply to loans for the purchase...
The National Development Ministry (MND) said sites identified for the Government Land Sales (GLS) programme for the second half of 2013 will yield about 14,200 private residential units. This includes 3,300 Executive Condominium (EC) units. The sites can yield 268,000 square metre (sqm) gross floor area (GFA) of commercial space and 960 hotel rooms. MND said the supply from the GLS programme,...
The office space on the 18th floor of Samsung Hub has been put up for sale via an expression of interest exercise. In a statement on Monday, marketing agent CBRE said the guide price for the prime grade A 999-year strata office floor is S$43.3 million. Samsung Hub is a 30-storey office tower located in the Raffles Place central business district. CBRE said the entire 18th floor has a strata area...
Average rentals of prime retail space in Orchard/Scotts Road and suburban areas stayed constant in the second quarter of 2013, following a slight dip in the previous quarter. DTZ said prime retail rents in Orchard/Scotts Road are expected to fall marginally in the second half of the year as new developments in the area are completed. Together, the completion of Orchard Gateway and the addition and...