General

The luxury end of Singapore's residential market is hot, and according to Colliers International Group, it's because of increased interest from mainland Chinese nationals. While some market watchers have speculated the turmoil in Hong Kong may lead people there to buy property in Singapore, it seems that isn't necessarily the case. "The increase in luxury home sales could be due to more China buyers...

Office-sharing startup WeWork on Thursday (Oct 10) said it will open two new locations in Singapore this year, even as its seeks a US$1 billion lifeline from its biggest-backer Softbank Group to progress a major restructuring. The New York-based startup, which had to abandon an initial public offering last week because of investor concerns about how it was valued and its business model, will open new...

Rental prices in Singapore fell in September for both non-landed private homes and HDB flats as compared to August, though the rents increased on a year-on-year basis. This is according to SRX flash data released on Wednesday. Meanwhile, rental volumes fell for private condominiums, but rose for HDB flats on a month-on-month basis. Overall rents for condos declined 0.4 per cent from August, but...

The national joint venture between Malaysia and Singapore, M+S Pte Ltd, on Tuesday announced it will sell the luxury hotel component of the signature Duo mixed-use project for S$475 million to Hoi Hup Realty. M+S said it agreed to the sale of all shares of its wholly-owned subsidiary, Ophir-Rochor Hotel (ORH), the developer and owner of Andaz Singapore, to the Singapore property developer. The...

Property listing portal 99.co said on Tuesday (Oct 8) it has signed a deal to "assume full control" of REA Group's iProperty.com.sg in Singapore and Rumah123.com in Indonesia in a joint venture. 99.co has entered into a binding agreement with REA Group, which will also invest US$$8 million into the joint venture, it said in a news release. The investment will be used as working capital to accelerate...

Resale prices of Singapore non-landed private residential properties picked up slightly in September after a previous tepid month, while volume of sales inched down further from August, according to monthly figures from real estate portal SRX Property released on Tuesday. Overall condominium resale prices rose 0.8 per cent in September from a year ago. All regions also saw higher prices year on year....

A good class bungalow (GCB) in Kilburn Estate in District 21 will be put on the market again at an unchanged guide price of S$23 million, marketing agent Knight Frank Singapore said on Tuesday. The guide price works out to about S$1,216 per square foot, based on a land area of 18,911 sq ft. It is an owner’s sale. A public auction for the bungalow will be held on Oct 16 at 2.30pm at Amara Hotel, Level...

South-East Asian real estate portal PropertyGuru, which counts buyout firms TPG Capital and KKR among its backers, has announced its intention to list on the Australian Securities Exchange (ASX), which will fund potential expansion plans such as an online mortgage marketplace and data offerings. In a prospectus lodged on Monday, the Singapore-based property technology (proptech) firm gave an indicative...

Bugis Cube has been put up for collective sale via a public tender exercise at a reserve price of S$230 million, marketing agent Cushman & Wakefield said on Monday. Located at 470 North Bridge Road, Bugis Cube is a six-storey commercial building with a basement floor car park. It has 119 strata-titled retail shops, including food and beverage (F&B) outlets; beauty, hair and nail salons; and a family...

It took a matter of three days for the proposed S$1.2 billion merger between Ascott Residence Trust (ART) and Ascendas Hospitality Trust (A-HTrust) to be approved and unveiled to the public. The merger of the two Reits had been subject to much speculation since January after ART's parent, CapitaLand - one of Asia's largest real estate companies - announced its S$11 billion acquisition of...