Hospitality deals in Singapore reached the highest level recorded on a quarterly basis, hitting S$2.8 billion in the third quarter, according to real estate firm Colliers International’s report on Thursday. This was six times that of the previous quarter and 19 times that of the previous year, and comes on the back of significant transactions such as Bay Hotel, Mandarin Orchard and Crowne Plaza Changi...
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A new research by the National University of Singapore (NUS) has found that the type of housing owned by Singaporean parents, along with the city-state's housing policies, can significantly influence the next generation's economic status. According to the study, children from low-income families, defined as those with parents in the bottom 60th percentile nationally, show upward mobility in housing...
Hotel Compass, a freehold hotel in Geylang, has been launched for sale by public tender at a guide price of S$23 million to S$25 million, marketing agent Knight Frank Singapore said on Thursday. The eight-storey hotel comprises a total of 49 rooms, and occupies a site area of 436.9 square metres (about 4,703 square feet). Under the Urban Redevelopment Authority's 2014 Master Plan, the site is zoned...
A two-storey conservation good class bungalow (GCB) located at 40 Nassim Road is up for sale via public tender with an indicative price in the region of S$175 million. The property, once occupied by the Royal Embassy of Saudi Arabia, has a total land area of around 58,784 square feet (sq ft). The buyer can redevelop the land to accommodate three GCBs, given that the site has a wide frontage of around...
Developers in Singapore moved 1,270 private homes in September 2019, up 13.1 per cent from the 1,123 units they sold in the previous month and also 36.3 per cent higher than the 932 units sold in September 2018. The latest figure is the best showing in 14 months. The above figures - which exclude executive condominium (EC) units - were released by the Urban Redevelopment Authority (URA) on Tuesday based...
Sales of private homes by developers in Singapore rose 36.3 per cent year-on-year in September, official data showed on Tuesday (Oct 15). Data compiled by the Urban Redevelopment Authority (URA) showed developers sold 1,270 units last month, excluding executive condominiums, compared with the 932 units sold in the same month a year earlier. This is the largest number of new homes sold in the month of...
A higher proportion of Singaporeans would like the Government to regulate prices of new private homes compared to six months ago, based on a survey by property portal PropertyGuru. Out of 794 respondents polled in the first half of this year, 58 per cent said that there should be more price regulation — up from 49 per cent in the second half of last year. The survey, which is conducted...
From luxury Singapore condos to Malaysian seafront apartments, Hong Kong investors are shifting cash into South-east Asian property, demoralised by increasingly violent protests as well as the China-US trade war. Millions have taken to the streets during four months of pro-democracy demonstrations in Hong Kong, hammering tourism while also forcing businesses to lay off staff - and the property sector is...
Real estate investment sales in the third quarter more than doubled to S$16.74 billion from S$6.7 billion in the previous quarter, on the back of a commercial sector surge from big ticket office transactions. This was also 49 per cent higher than the volume of the first and second quarter combined, said a Cushman & Wakefield report on Monday. The commercial sector led sales volumes with S$6.27...
It is likely to be another stable reporting season for Singapore's real estate investment trusts (Reits) with tourist arrivals in July and August giving a boost to retail and hospitality Reits while industrial Reits continue to be pressured by the bleak state of manufacturing activity. Given the cloudy outlook owing to macroeconomic uncertainty and recession fears, analysts have chosen a defensive...