HDB's flash estimates showed that resale prices rose by 1.3 per cent in the second quarter of this year, reversing a trend of slow price growth in the previous two quarters. HDB resale prices have been softening since the second half of last year. Prices grew 3.8 per cent in the third quarter of 2011. This growth moderated further to 1.7% in the last quarter of last year, and fell to 0.6 per cent in the...
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Two property agents have become the first to be punished under the Council for Estate Agencies' (CEA's) disciplinary framework. Under the framework, sales persons who breach its Code of Ethics and Professional Client Care will face disciplinary action. The Disciplinary Committee may, upon determination of the breach, reprimand the sales person, revoke or suspend registration, impose a financial penalty...
Renting prime office spaces in the Central Business District (CBD) has been getting cheaper since the third quarter of 2011. However, landlords need not fret any further. Experts said the Grade A office market will soon reach its bottom by the end of 2012. Without new office space in the CBD being injected in the second quarter of 2012, landlords have much to cheer. Analysts said this will stem the...
Five industrial land sites at Mandai Link, Tuas South Street 7 and 8, and Plot 3 Tampines Industrial Crescent have been launched for public tender by JTC Corporation. In a statement on Friday, JTC said the 2.2 hectares (ha) Mandai Link site has a lease of 30 years and a maximum permissible gross plot ratio of 2.5. It is for Business-2 (B2) clean and light development. The three sites at Tuas South...
Prices of resale private homes in Singapore climbed 1.5 per cent on-month in May, according to flash estimates of the Singapore Residential Property Index (SRPI) by the National University of Singapore (NUS). This marked the third consecutive monthly increase in the overall private home market. While prices rose in all Singapore regions in May, those in the non-central area rose most sharply, by 2.2...
The land site for residential housing at Pheng Geck Avenue has attracted 13 bids at the close of tender on Thursday. Santarli Corporation placed the highest bid of S$114.8 million for the 4,850 square metre site. The site also has a maximum permissible gross floor area of 16,977 square metres. This translates the top bid to about S$6,762 per square metre, or S$628.23 per square foot per plot...
Keppel Land is expanding its commercial property business in Indonesia with a new office tower in Jakarta. After more than 20 years in Jakarta, Keppel Land has broke ground for a new office tower right next to its 18 storey development - The International Financial Centre. International Financial Centre was completed in 1985. The new International Financial Centre Tower 2 will feature green features....
Two industrial sites located at Bukit Batok Street 23 and Yishun Avenue 9 have been launched for public tender. In a statement on Wednesday, the Urban Redevelopment Authority (URA) said the two 30-year lease sites are part of the 16 industrial sites announced for sale under the Confirmed List of the 1st half 2012 Industrial Government Land Sales Programme. The land at Bukit Batok Street 23 has a site...
While home prices in the northeast district are expected to be stable in the coming year, analysts say the area may potentially see an oversupply of homes in the future. In the next few years, Punggol, Sengkang and Pasir Ris will continue to see intense construction activity, with market watchers expecting some 17,000 residential units to come onstream in the area over the next five to six years. Later...
The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Farrer Drive to Singland Development Pte. Ltd. The company submitted the highest bid in the tender for the site at S$113.2m with the tender attracting a total of 6 bids. The tender for the residential site was launched on 24 May 2012 and closed on 21 June 2012. The land parcel was offered for sale on a 99-year...