Wealthy homebuyers are finding global cities less welcoming - even hostile - to their cash. Luxury property prices in 45 global cities rose an average of just 1.1 per cent in the third quarter from a year earlier, the weakest annual gain since the end of 2009, according to a report from Knight Frank. They fell 4.4 per cent in New York, 3.9 per cent in London, and 10 per cent in Vancouver. It's no...
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Sales of private homes by developers in Singapore fell 27 per cent in October from the previous month, official data released on Friday (Nov 15) showed. Data compiled by the Urban Redevelopment Authority (URA) showed developers sold 928 units last month, compared with 1,270 units in September. Including executive condominiums, 955 units were sold. Advertisement Compared to the year ago period, the...
Singapore Press Holdings (SPH) is diversifying its purpose-built student accommodation portfolio beyond the UK, with a 15.6 million euro (S$23.4 million) acquisition in Bremen, Germany. SPH’s wholly-owned subsidiary Straits Nine has entered into an asset purchase agreement with Liberty Living (Galileo Residenz) for the proposed acquisition, SPH, which publishes The Business Times, said early on...
Owners of The Arcade in Collyer Quay are making a second stab at a collective sale with an asking price of S$780 million, 10 per cent lower than the S$868 million price tag attempted in 2014. The new asking price translates to an estimated land rate of S$2,833 per square foot per plot ratio, said marketing agent Colliers International in a media release on Wednesday. The Arcade comprises 127 office...
Yanlord Land Group has raised its cash offer for United Engineers (UE) to S$2.70 per share, after scooping up 39.2 million shares or 6.15 per cent of UE in married trades done at the same price just before noon on Tuesday. The Business Times understands that the sellers are likely to be multiple accounts aggregated by a broker. Oxley Holdings, the only other shareholder in UE with a sizeable block of...
Rents for non-landed private homes slipped in October from the previous month, while those for HDB flats edged up, although they were both higher than a year ago. Overall condo rents declined 0.2 per cent from September, but rose 4.2 per cent year on year. However, they are still 16.9 per cent below their peak in January 2013. The core central region (CCR) was the hardest hit, with a 0.6 per cent...
Bridge+, an extension of CapitaLand's business space portfolio, on Wednesday said it will set up a fintech hub that will play host to Singapore's fintech community, with the group's upcoming development at 79 Robinson Road in the Republic's central business district (CBD). Slated to open in the third quarter next year, Bridge+ 79 Robinson Road will "facilitate collaborations through knowledge sharing...
The fortunes of two of Asia's hottest property markets are diverging. Singapore is now ranked No 1 for real estate investment prospects in terms of price increases in 2020. Hong Kong, buffeted by months of violent anti-government protests, has plunged to the bottom of the list from 14th place in 2019. That's according to an Urban Land Institute and PricewaterhouseCoopers LLP report released Tuesday into...
Resale prices for non-landed private residential properties in Singapore continued their rise in October following an increase in September, while volumes picked up from a slight dip, according to flash figures from real estate portal SRX Property on Tuesday. Condominium resale prices rose 0.8 per cent in October from the previous month, faster than the 0.4 per cent increase in September following three...
The Housing and Development Board (HDB) has launched 8,170 flats for sale under its latest Build-to-Order (BTO) and Sale of Balance Flats (SBF) exercise, it said in a press release on Tuesday (Nov 12). The launch includes 4,571 BTO flats in Tengah, Tampines and Ang Mo Kio as well as 3,599 SBF flats across various towns and estates. This brings the total number of BTO flats offered this year to...