General

Property prices for HDB flats around the 12 remaining Circle Line stations, due to open this Saturday, have risen, according to property agents. They said a three-room flat around Holland Village station now costs 10 per cent more compared to last year, going as high as S$440,000. Over at Telok Blangah, a five-room high-floor unit recently transacted at S$810,000. A similar unit further away from the...

The global economic turmoil is translating into a slower increase in tourist arrivals. In fact, a rise of 12 per cent forecast for this year is almost half the pace of last year's 20 per cent increase. That is likely to slow further next year as economic uncertainty keeps travellers at home, although for now, the Asian tourist dollar is holding the industry up, against economic problems in Europe and the...

Nine units at Hijauan on Cavenagh have been sold over the past two weeks, at an average price of between S$2,200 psf and S$2,500 psf, said its developer Selangor Dredging Berhad (SDB). According to a Business Times report, eight units were sold to Malaysian buyers while the other unit was bought by a Singaporean. Listed on Bursa Malaysia, SDB is developing the project on the former Cavenagh Mansions site...

A developer of business space, Ascendas, is helping to spread the "green message" with an eco-friendly office. It is showcasing its newly-renovated office at the Singapore Science Park as a next-generation office during its very own Green Month. The premises in The Galen have an open concept to tap maximum daylight, which in turn helps to save energy. Chief Development Planning Officer of Ascendas,...

The Urban Redevelopment Authority (URA) has launched the hotel site at Jalan Bukit Merah / Alexandra Road for sale via public tender today. The land parcel was made available for sale through the Reserve List system on 16 August 2007. On 22 September 2011, URA announced that it had received an application from a developer to put up the land parcel for tender. The developer has committed to bid at a price...

Location, location and location is the mantra for anyone looking to buy a property. And traditionally, homes in the right neighbourhoods have always maintained their values better. According to Cushman and Wakefield, median prices of high-end homes have dipped just five percent from the peak of 2008's prices to between S$3,400 and S$3,500 per square foot. The lower-end markets, however, are still down by...

Prime rents in Orchard Road have rebounded for the first time in nearly three years. That is according to a study by real estate consultancy CB Richard Ellis. Rents rose 5 per cent from the second quarter of 2011, to average S$31.60 per square foot per month. Rents were S$30.11 per square foot per month in the last quarter. The upturn follows a series of dips since 2008, when rents peaked at more than...

Paramount Hotel will be renamed as East Village Hotel, following the completion of its sale to Far East Organisation. Far East Hospitality had bought the building together with the adjoining shopping centre for S$214 million in a collective sale. The sale was first announced last November. Far East said it is expected to take official ownership of the hotel and shopping arcade in February...

Property watchers said a shortage of resale flats amidst strong demand is accelerating price growth. While some said more time is needed for new flats to be built, others think it is time to review the property cooling measures. Resale flat prices, which are already at an all-time high, rose 3.8 per cent in the third quarter this year - higher than the 3.1 per cent recorded in the second quarter. Since...

The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the industrial site at Gambas Avenue / Gambas Crescent for sale via public tender. The land parcel was made available for sale through the Reserve List system on 24 June 2011. URA has received an application from a developer for the site to be put up for public tender. The developer has...