Far East Organization (FEO) will likely raise at least S$500 million through the listing of some of its hotel and serviced residence assets in a real estate investment trust (Reit) next year, according to sources with direct knowledge of the deal. Singapore’s Reit market has been attracting listings at a time when investors are looking for stable yields in the midst of market volatility and...
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Mainboard-listed CapitaRetail China Trust (CRCT) announced yesterday net property income of 108.1 million yuan (S$20.6 million) for the second quarter, an increase of 11.3 per cent from the corresponding period last year. But CRCT's performance in Singapore dollar terms was much lower, rising only 4.1 per cent as a result of the strength of the local unit versus its Chinese counterpart. Gross revenue was...
The growing percentage of cash-rich Chinese home buyers is providing Singapore property agents a wealth of opportunities. While other real estate agents are holding roadshows in China, some are taking a more aggressive approach, bringing potential buyers from China to Singapore for tours of recent property launches. While most property agencies in Singapore recognise China as a key market, emerging...
Sales of private homes fell 25 per cent in June from a month earlier, according to data released on Friday by the Urban Redevelopment Authority (URA). A total of 1,182 private residential units were sold last month, down from 1,575 units in May. Private homes in the Outside Central Region (OCR) accounted for 833 of the units sold in June, compared with 227 units in the Rest of Central Region (RCR) and...
One quirk of the current recovery in Singapore's residential property market is the rising popularity of small-sized apartments, better known as "shoebox" units. Since early 2009, when the current home market up-cycle began, private property developers have sold a number of projects consisting mainly of "shoebox" units. These include The Alexis, which kicked off the "shoebox" trend and Suites@Guillemard,...
Home loan rates are back in the news. In the latest move to maintain loan volumes in an uncertain market, at least two Singapore banks have reportedly been dangling some of the lowest rates, currently pegged at about 0.2 per cent to market benchmarks, on selected properties. The offered mortgage rates are pegged against two commonly used benchmark interest rates. These are the Singapore interbank lending...
The Housing and Development Board (HDB) has launched seven Build-to-Order (BTO) projects offering 3,600 new flats. It has combined the BTO launches originally planned for June and July in Thursday's launch, giving flat buyers more housing options. These 3,600 new flats are located across various towns, in Sengkang, Punggol, Tampines, Jurong West, Yishun and (two BTOs in) Bukit Panjang. Most of the flats...
There is a possibility of a glut of new office space in the near future, and this will put pressure on rental reversion. However, this has not stopped Japan's Mitsubishi Estate Asia (MEA) from acquiring a 10 per cent stake in the redevelopment of Market Street Car Park. Together with CapitaLand and CapitaCommercial Trust (CCT), the Japanese real estate company will transform the car park into a Grade A...
Property consultant Colliers International has released research reports covering industrial, investment sales, office and the retail space in Singapore for the second quarter of the year. In the office space sector, Colliers said competition for tenants kept the rental growth of Grade A office space within the single-digit territory. In the Raffles Place and New Downtown micro-market, monthly gross...
Property consultant Colliers International has released research reports covering industrial, investment sales, office and retail space in Singapore for the second quarter of the year. In the industrial property market, the second quarter saw a pick-up after a temporary lull in the first quarter. Colliers added that both the sales and leasing markets experienced a flurry of activity. The average monthly...