The Ministry of Trade and Industry (MTI) today launched its Industrial Government Land Sales (IGLS) Programme for the second half of 2012. To continue to meet potential demand for industrial land, there are 16 sites in the Confirmed List and 3 sites in the Reserve List, with a total site area of 23.72 ha. The proposed land quantum for the second half of 2012 is comparable to that of the first half of...
General
Despite a lull in the property market, two freehold condo developments were launched over the weekend, which are expected to gauge buying interest. Both projects are relatively small, with less than 200 units in total between them. The upscale 1919 in Mount Sophia was launched by Aurum Land, a unit of Woh Hup. It comprises of 75 black-and-white apartments with average prices ranging between S$2,000 psf...
A refreshed destination with new and exciting dining and entertainment concepts awaits visitors to Clarke Quay later this year. The iconic hangout for both Singaporeans and tourists is undergoing a S$15.6 million asset enhancement programme to reinvigorate two of its five blocks. The works will be completed in the third quarter of 2012. Operations at Clarke Quay are not affected in the meantime. Under...
Resale prices for HDB flats are showing signs of picking up, with latest data pointing to a 2-per-cent rise in the last two months, according to the Singapore Real Estate Exchange (SRX). The median resale price for HDB flats islandwide increased to S$438,800 in the last two months from S$430,000 in the first quarter of the year, the SRX said yesterday. The SRX is a consortium of 11 leading property...
Preliminary price indices for completed non-landed properties released last week suggest that the resale market for private apartments has finally shaken off the dampening effects of the additional buyer's stamp duty (ABSD) imposed last December. The National University of Singapore's flash Singapore Residential Price Index for last month inched up 0.8 per cent, the second consecutive monthly rise...
The Urban Redevelopment Authority has approved 10 applications from shop-house owners to use their upper floors as offices and commercial schools. This follows the relaxation of rules to allow the premises to be used as offices and commercial schools. Property analysts said the take-up rate is encouraging. The use of shop-houses as business space is becoming popular, but the number of such units has not...
PropertyGuru, Asia's leading property portal group, today announced that it has secured a double digit million Singapore dollar strategic investment from ImmobilienScout24, Europe's top property portal group and a subsidiary of global company Deutsche Telekom. This is one of the biggest online deals in Asia this year, and re-enforces the rapidly emerging online media opportunity in South East Asia. The...
Sydney is Australia's most populous city and its housing sector offers investors unique opportunities with the security that comes with investing in a large and rapidly expanding market. Property prices in Sydney have increased 25 per cent in the last four years, during which many other housing markets around the world have stagnated or even gone backwards. The reason that Sydney's housing prices have...
En-bloc property sales have lost its shine so far this year. A total of nine en-bloc properties have been successfully transacted this year to date. This compares to 29 transactions in the same period last year. Although developers have turned cautious as cooling measures and requirements to build and sell out all the new units in five years start to bite, experts said interest in mixed-use en-bloc...
Real estate investment trusts (REITs) have outperformed the market despite the volatility in the first half of the year. They are also known for their relative resilience amid economic downturns. And industrial REITs appear to hold up better than the rest with total returns of 18 per cent in the first quarter. REITs have outperformed other assets like equities since the start of the year. The benchmark...