Rents for non-landed properties such as condominiums are rising at a slower pace. Latest data from the Urban Redevelopment Authority (URA) showed such rentals rose just 3.6 per cent in the third quarter, compared to 6 per cent in the preceding quarter and 4.8 per cent in the first quarter. Property analysts said the downward trend indicates that the market has reached a sustainable level and the growth is...
General
The Government's cooling measures on the property market have sharply cut Singapore home loan applications at DBS bank according to chief executive Piyush Gupta. He said local mortgage applications have slumped by 20 to 25 per cent since the measures were introduced on Aug 30. OCBC Bank CEO David Conner also indicated earlier this week that it has seen a 20 per cent fall in housing loan applications...
Far East Organization has lodged the top offer in a six-way bidding battle for a Woodlands site. The firm tendered $105.1 million or $333 per sq ft (psf) per plot ratio for the 99-year leasehold plot at the junction of Woodlands Avenue 1 and Rosewood Drive. EL Development is the next highest on $100.9 million. BS Capital, Sim Lian Land, TID Residential and Ecco Development, with the lowest bid of $73...
Residential collective sales gaining momentum, set to continue next year Collective sale transactions have totalled $975.6 million so far this year and over 90 per cent of this total is made up of residential transactions. Renewed confidence in the Singapore home market and an increasing number of residential transactions over the past months lead us to believe that the "en bloc" trend will continue to...
The year 2010 has been bittersweet for the Singapore retail property market. With the economic rebound, the slide in prime retail rentals has long since come to an end but the recovery of such rentals has so far been muted. As Singapore's recovery takes hold, one wonders if our retail sector will benefit. The prospects for the sector will be underpinned by several key long-term visions from stakeholders,...
En bloc sales in Singapore are gaining momentum as overall collective sales for this year have hit $975 million, according to property consulting firm Jones Lang LaSalle (JLL). About 90 per cent of these transactions came from the residential segment, the firm said. Improving fundamentals in Singapore's property market and the widening gap between new sale and resale prices for residential property are...
Property and hospitality group Roxy-Pacific Holdings Ltd. has announced that net profit in the third quarter jumped 42 percent to S$8.9 million from S$6.3 million in the previous quarter. The increase came on the back of a 41 percent increase in revenue to S$53.1 million in Q3, driven by a 44 percent surge in revenue to S$40.5 million from its property development segment. Overall, Roxy-Pacific achieved...
The Ascott has opened three new properties in China, targeting to operate 12,000 apartment units there by 2015. The 605 new units in three cities of Tianjin, Wuhan and Xi'an will bring to more than 6,300 the number of apartments Ascott has in 34 properties across 15 cities in China. Ascott said the expansion strategy is underlined by China's rapid development and high foreign investment, which are making...
Enbloc sales in Singapore are gaining momentum, according to property consulting firm Jones Lang LaSalle. It said overall collective sales have hit S$975 million year-to-date, with the residential segment contributing 90 per cent of the total. In the third quarter, there have been more than 10 collective sales with a residential component. This is almost double the previous quarter's number. There were...
Prime warehouse rents in Singapore are the seventh-most expensive in the world, according to a study by property consultants Colliers International. It said Singapore rents were US$13.38 per square foot per year in the first half of 2010. Singapore's current rank is a jump from the 9th spot it took in the second half of last year. In the first half of 2009, Singapore's prime warehouse rents were low enough...