Experts have said that commercial and industrial property will continue to outperform the office market this year. This comes after Urban Redevelopment Authority (URA) figures showed higher quarterly prices for industrial (4 per cent quarter-on-quarter) and commercial assets (13.8 per cent quarter-on-quarter). Meanwhile, city rentals have slowed. The trend of cooling office rents is clear. While URA's...
General
Large crowds turned up at the launch of the latest executive condominium (EC) on Friday. Property developer Sim Lian Group said it hopes Tampines Trilliant, which is located in a mature estate, will attract couples who want to live near their parents. But with prices as high as S$971,000 for a four-room unit, will home-buyers be turned away? The launch of Tampines Trilliant saw a large lunch-time crowd...
Shares of CapitaRetail China Trust rose 3.9 per cent on Friday after the company posted a near-10 per cent hike in income for the fourth quarter. The shopping mall owner said it is aiming to at least match the result this year and it is on the lookout for acquisitions. CapitaRetail China Trust owns nine shopping malls in China, which it estimates will become the world's second biggest consumer market by...
The rate of increase in property prices has continued to moderate, with private home prices rising just 0.2 percent in Q4, lower than the 1.3 percent increase seen in the previous quarter, according to latest figures released by the Urban Redevelopment Authority (URA). “This moderation in private property prices can be attributed to the multiple rounds of cooling measures implemented by the government...
The Urban Redevelopment Authority (URA) has awarded the tender for a 16,994.1 sq m residential site at Kovan Road to a consortium comprising Hoi Hup Realty Pte Ltd, Investment Focus Pte Ltd and Oriental Worldwide Investments Inc, after submitting the top bid of S$194.6 million. Located at the junction of Kovan Road and Simon Road, the site has a maximum permissible gross floor area (GFA) of 35,688 sq m...
Fewer flats changed hands last year. Latest data from the Housing and Development Board (HDB) showed a sharp fall in the number of resale transactions - at 24,633, down 24 per cent from 2010. PropNex CEO Mohd Ismail said the various cooling measures introduced by the government have dampened demand and supply. He said the lowering of the Loan-To-Value (LTV) ratio to 60 per cent for a second loan means...
Several potential en bloc deals have been launched recently as homeowners in these developments attempt to capitalise on the current record-high residential property prices. However, I believe they are likely to be disappointed as this year's outlook for the en bloc market looks pretty dim. In a typical en bloc deal, homeowners of a residential building agree to sell their units collectively to an...
National Development Minister Khaw Boon Wan said the local construction industry needs to raise productivity through standardisation and prefabrication. In his latest blog entry, he said Singapore can try to build more flats with fewer foreign workers, if construction productivity is raised. Singapore is adding another 25,000 public flats this year through the Build-to-Order scheme, and needs some 30,000...
Mainboard-listed developer Sim Lian Group has launched a new executive condominium project in Tampines Central 7. The Tampines Trilliant will open for application from Friday till next Tuesday (January 27 to 31). The booking date is on February 4. Sim Lian said prices for the 670-unit development start from S$682,000 for a three-bedroom unit, and from S$971,000 for a four-bedroom unit. The project,...
Mapletree Industrial Trust (MIT) has reported a 5.4 per cent increase in its distribution per unit (DPU) to 2.16 Singapore cents for the third quarter ended 31 December. The higher DPU is due to higher rental income which lifted the trust's net property income by 25 percent to S$45.6 million. Its chief executive officer, Mr Tham Kuo Wei, said in a statement: "MIT continued to deliver strong performance...