Resale prices of public and private housing recorded slowdown in the first quarter of this year. Resale prices of HDB flats are up 1.6 per cent in the first quarter, a slowdown from the previous quarter which saw prices increase by 2.5 per cent. This is according to estimates released by the Housing & Development Board. It added that it will offer 22,000 new Build-to-Order or BTO flats this year if...
General
The Singapore property auction market registered a significant drop in total sales value and number of transactions in the first quarter of the year, chalking up a total of 17 transactions worth only S$27.87 million, property consultants Colliers International said. Colliers said that it was the lowest sales value garnered since the auction market rebounded in the first quarter of 2009, after the global...
When the most recent set of property cooling measures were announced in mid-January, many people expected a knee-jerk reaction even if a few felt the new rules were benign. Others feared the worst. It has been more than two months since the measures came into effect and we have had more statistics to mull over. The NUS recently released its February estimates. Prices for completed apartments recorded a...
Total bank lending in Singapore rose 17.3 per cent in February to S$334 billion from a year earlier, data released by the Monetary Authority of Singapore showed. Month-on-month lending rose 1.6 per cent - lower than the 1.8 per cent rise in January. Higher housing loans to consumers were among the big contributors to last month's rise in total bank lending. But analysts expect this segment to slow down...
A day after the Hong Leong Group put in a bid for a residential site in a consortium which included a Japanese partner, CapitaLand said yesterday that it will partner Mitsubishi Estate Asia (MEA), a wholly-owned subsidiary of Mitsubishi Estate (MEC), to jointly develop a 600-unit condominium in Bishan Central. With a track record of developing quality residential projects in Japan, MEC is one of Japan's...
The retail leasing market gave mixed signals in Q1 2011, said property consultants CB Richard Ellis (CBRE). It said monthly rents for prime Orchard Road averaged S$30.10 psf per month in the first quarter, reflecting a decrease of 0.5 per cent from a quarter ago. Prime suburban rents remained at S$29.10 psf per month, unchanged from the previous quarter. A few major leasing deals were concluded in the...
When Macarena Chiriboga came to Bali in 2009, she had just finished a master's degree in architecture in the United States, doing her thesis on the use of bamboo as a building material. The trip was meant to be a vacation. But drawn by the unusual architecture of a school on the island - the Green School, whose buildings are all made from bamboo - she was soon back, and is now designing buildings for the...
The Housing and Development Board has awarded the residential land parcel at Choa Chu Kang Drive to Camborne Developments. The developer had submitted the highest tender price of S$170.1 million out of the six bids for the site that is proposed for executive condominium (EC) housing. The 17,590 square metre site was launched for sale on January 21 and closed on March 22. The 99-year leasehold site has a...
The Urban Redevelopment Authority (URA) has awarded the tender for the industrial site at Ang Mo Kio Street 62 to Sim Lian Development. The developer submitted the highest bid of about S$128.1 million out of 13 bids received by URA for the 27,950 square metre land parcel. The industrial site was offered for sale on a 60-year lease term, with a maximum permissible gross plot ratio is 2.5. The land is...
Mainboard-listed Ascendas Reit or A-Reit has acquired Neuros & Immunos, a science park property at Biopolis for S$125.6 million. A-REIT said the acquisition will strengthen its leadership position in the business & science park segment while providing a stable stream of income as the properties enjoy 100 per cent occupancy. Strategically located at Biopolis, the bio-medical research hub at...