The shrinking size of public flats does not necessarily mean a lower quality of living, Housing and Development Board (HDB) chief executive Cheong Koon Hean said last week. She said residents could use good interior design and arrange their furniture to create better storage options that will give that feeling of space. She said that while HDB flats had become smaller, Singapore's average household size...
General
The housing market in Singapore is heading for a prolonged downturn and overall private home prices are forecast to fall between 22 and 26 per cent in the next three years, Daiwa Research said. "We believe the residential property market could remain depressed for several years, triggered initially by a likely forthcoming gross domestic product slowdown (in 2012) and lingering global economic uncertainty,"...
The president and chief executive of CapitaLand, South-east Asia's largest listed developer, said yesterday that demand for residential properties in China remains strong, although prices might drop slightly in certain regions. Mr Liew Mun Leong also said the group intends to expand its shopping mall portfolio in China to capitalise on strong consumer demand. China's efforts to cool its property market...
The Urban Redevelopment Authority (URA) has received five bids for the tender of an industrial site at Gambas Avenue / Gambas Crescent. The top bid for the 21,426.7 square metre (230,635 square foot) site of S$78.17 million was from HLS Development. The tender for the 60-year leasehold industrial site was launched for tender on 18 October after an unnamed party committed to bid at least S$57 million --...
CapitaLand's joint venture with CapitaCommercial Trust and Mitsubishi Estate Asia has secured a loan facility with OCBC Bank for up to S$890 million to fund the purchase and redevelopment of the Market Street Car Park site. The loan has a five-year tenure and will be due in November 2016. It is secured by, among other things, a mortgage over the Market Street Car Park development. The site will be...
The en bloc bid of Dragon Mansion has gone through and has been sold for S$130 million to Spottiswoode Development, a joint venture by Lian Beng Group and Centurion Properties. The selling price translates to about S$1,093 per square foot per plot ratio (psf ppr) including a 10 per cent bonus gross floor area (GFA) for balconies, said property consulting firm Jones Lang LaSalle. Each owner of the...
Some housing analysts are predicting that HDB flats in Rochor Centre could become hot property now that they have been slated to make way for the North-South Expressway (NSE). Residents have been offered a relocation package that includes priority for a new flat in Kallang. This may appeal to those looking for a quicker way of buying into the Kallang area. Such practices are not uncommon. Housing...
Residents of the Rochor Centre HDB flats have been cautioned against cashing out in the resale market. Member of Parliament for Moulmein-Kallang GRC Denise Phua has urged them to consider taking up the relocation package to Kallang, following Tuesday's announcement on the North-South Expressway (NSE). Four blocks at Rochor Centre will be making way for the NSE. Affected residents have been assured of a...
Mapletree Logistics reported a slowdown in activity in the construction and industrial sectors. Mapletree is a real estate trust that specialises in logistics and industrial property. At the release of the logistic report on Wednesday, Mapletree's chief executive, Richard Lai, said high consumption rates in Singapore and around the region had kept demand for industrial space high, but the global economic...
Coronation Grove in District 10 is going back on the collective sale market with a lower indicative price. The owners now say they will consider offers over S$81 million. This is lower than the earlier indicative asking price of between S$86 million and S$90 million. Marketing agents Credo Real Estate said after the last unsuccessful tender exercise in March 2011, the owners agreed to lower their price...