Frasers Centrepoint Trust (FCT) will be acquiring Bedok Point from Woodlands Complex for S$127 million. Woodlands Complex is a wholly owned subsidiary of Frasers Centrepoint Limited. Frasers Centrepoint Limited is a subsidiary of Fraser & Neave Limited (F&N). In statement released Thursday, F&N said the divestment is in line with its strategy of unlocking value from its commercial properties...
General
A 41-year-old man, believed to be involved in at least five rental scams has surrendered himself to the police and arrested. On Tuesday, the police had appealed for information on the man, identified as Dennis Ang Beng Kiat to assist with investigations. In all these cases, the victims responded to flat rental advertisements placed in the newspapers. The suspect, who was the owner of the flat, arranged...
The threat of further Government intervention in the residential property market has been hanging like the Sword of Damocles over the last one year, resulting in a sense of unease for both buyers and sellers. During that period, we saw two rounds of measures imposed by the Government to cool the residential property market - one in August last year and the other in January this year. However, recent...
Recent news reports quoted a Hong Kong developer as saying that prices in the territory's secondary home market may continue to drop as a result of discounts offered by owners, although the price cuts are mainly in the New Territories and have not yet spread to Kowloon and Hong Kong Island. The price falls also occur after a June 10 government announcement of a hike in downpayment for both local and...
More prospective home buyers are concerned about rising prices and many believe properties in Singapore are too expensive. Real estate portal PropertyGuru.com.sg's consumer property sentiment index fell to 2.6 (from a scale of 5) in the second quarter, compared to 2.8 in the previous quarter. "What it says is that buyers expect the transactions and prices to carry on going up and so the expectation is...
In response to feedback from the business community, the Monetary Authority of Singapore has decided to do away with a regulatory loan-to-value (LTV) limit for non-individuals seeking to borrow money secured on a residential property. This means businesses - starting from yesterday - will not be subjected to a 50 per cent limit for a loan obtained from the equity value of their existing property...
The National University of Singapore's Institute of Real Estate Studies (IRES) will introduce a separate index - apart from its main Singapore Residential Price Index (SRPI) - to measure the prices of "shoe box" units, saying their price volatility has a significant impact on overall housing prices. "Our analysis presents evidence that small units increase house price volatility. Further, price changes of...
Mainboard-listed Mapletree Industrial Trust (MIT) has priced an offering of new units at S$1.09 a unit, in relation to the private placement of 48.5 million new units in the company. This was a discount of 2.2 per cent to the adjusted volume weighted average price of S$1.115 a unit on July 27, MIT said. It has also priced its preferential offering at S$1.06 a unit. Citigroup and DBS Bank were the joint...
The Real Estate Developers' Association of Singapore (REDAS) said that prices of private homes should be left to market forces without any intervention from the government. This is according to recently appointed REDAS president Wong Heang Fine. Mr Wong, the CEO of CapitaLand Residential, replaced outgoing president Simon Cheong this February. Mr Cheong is the chairman of SC Global Developments. This is...
From January to May last year, prices of small apartment and condominium units rose 11.1 per cent compared to apartments and condominium units (or non-landed homes) in the prime and non-prime regions which saw lower gains of 5.4 per cent and 6.2 per cent respectively. According to data from the Institute of Real Estate Studies (IRES) at the National University of Singapore, prices of small units grew 6.9...