The Henley Industrial Building was put up for collective sale on Tuesday. The four-storey industrial building at Upper Paya Lebar Road has an area of approximately 27,161 square feet with 17 existing units. Marketing agent CBRE said the building has a reserve price of S$37 million. This works out to S$545 per square foot (psf) per plot ratio and a breakeven cost of about S$792 psf. No...
General
Resale prices of private homes in Singapore rose at a faster rate of 1.9 per cent in April, compared to the previous month's 1.1 per cent price increase. The Singapore Residential Price Index (SRPI) flash estimates were published by the Institute of Real Estate Studies at the National University of Singapore on Tuesday. The price increase was led by private homes outside the central region, which...
The number of returned condominiums is at its highest in about a year, according to property research firm Square Foot Research. Data shows there were 152 units returned in April. This slightly pips the previous high of 150 units returned in May 2012. It also brings the total number of units returned for the first four months of this year to 415, about 10 per cent higher than the same period in 2012...
The HDB resale market may be showing signs of cooling -- according to the Singapore Real Estate Exchange (SRX), the overall median cash-over-valuation (COV) for HDB resale flats reached a peak of S$35,000 in January. But it has come down to about S$27,000 in May. This is the lowest since April 2012. Some analysts said this could be a sign that January's property cooling measures are biting. Nicholas...
Some executive condominium developers said they have seen an increase in sales since National Development Minister Khaw Boon Wan hinted at changes to the scheme in April. Developers of the Watercolours EC project in Pasir Ris have sold 21 units in the last two weeks alone -- it sold only 29 units in the whole of April. The project was launched in June 2012. As for One Canberra in Yishun, its sales...
Singapore-based Pacific Star Development has invested in a prime 339,800 sq ft waterfront freehold site in Puteri Harbour, Iskandar Malaysia, to develop an integrated mixed-use project with a gross floor area of about 1.3 million sq ft. Acquired for RM93.3 million (S$38.8 million) from UEM Land, the master developer of Puteri Harbour, Pacific Star plans to develop apartments, SOHO units and a lifestyle...
There’s expensive and then there’s Hong Kong. The Asian shopping haven in the first quarter kept its crown as having the world’s highest rent for prime retail properties, at nearly 50 per cent more than for similar districts such as upper Fifth Avenue in Manhattan. Rents were more than four times the rate in similar areas in London and Paris, according to a report by global property advisor CBRE...
Raffles Quay Asset Management said it is confident of filling up the rest of the office space at Marina Bay Financial Centre Tower 3, as well as sell the remaining units of luxury apartments at Marina Bay Suites -- despite uncertainties in the global economy and the property cooling measures announced in January 2013. About 88 per cent of the 221 units at Marina Bay Suites have been sold so far. While...
Resale prices of private homes declined marginally by 0.4 per cent in April compared to March. Resale volumes also remained low, with 572 non-landed units transacted compared to 614 in the previous month. On a year-on-year basis, the resale volume recorded in April represented a more than 50 per cent drop from the same period last year. This is according to data from major property agencies compiled...
Singapore's resale property market continues to slow as buyers remained on the sidelines after the government's latest round of property cooling measures. Flash figures from the Singapore Real Estate Exchange (SRX) revealed that transaction volumes in both private and HDB resale markets fell last month. Prices stayed fairly resilient as the overall median price of resale HDB flats inched up, while...