The Prices of freehold landed housing outside the prime districts have hit a new high, according to property consultant DTZ. But DTZ notes that the pace of price increase for the entire residential sector is losing steam. In its report, it says price growth across all housing segments slowed in the third quarter of this year compared to the previous period. DTZ said prices of freehold landed homes...
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The Government of Singapore Investment Corporation (GIC) has said its logistics arm could seek to raise as much as S$3.9 billion in its initial public offering. This would make it the country's second-biggest IPO. Global Logistic Properties has set an indicative price range of S$1.78 to S$1.96 per share. According to its prospectus, the IPO will comprise up to nearly two billion shares, including for...
Prices of landed freehold units outside the prime districts have hit a new high in the third quarter of this year. Property consultant DTZ said prices of homes outside the prime areas inched up 1.7 per cent quarter-on-quarter to S$952 per square foot, surpassing for the first time the high of S$943 per square foot recorded during the 1996 boom. Meanwhile, landed freehold units in the prime districts of...
Singapore, which boasts the world's highest density of millionaires, has been attracting foreign entrepreneurs. Yanlord Land Group founder and CEO Zhong Sheng Jian, originally from China, said coming to Singapore was the best decision he has ever made. Yanlord Land Group is the biggest China-based property developer listed in Singapore. "I can say that my success is built on the experience I've acquired...
The ongoing economic recovery will likely drive Grade A office rentals to rise by more than 25 per cent in two years. This is according to the latest property report by Swiss-based investment bank Credit Suisse. The bank said that it expects rent to hit $12 per square foot (psf) for super prime office space, such as the Marina Bay Financial Centre, by 2012. Meanwhile, rentals for Grade A office space and...
A record price has been set on Sentosa Cove. This time a prime seafronting bungalow along Ocean Drive on a 7,690 sq ft plot area has been sold for $2,536 per square foot (psf) on land area. This exceeded the earlier record of $2,403 psf posted just in May this year for a bungalow on Paradise Island which has a bigger land area of about 14,983 sq ft reflecting in a much higher price of $36 million. The...
Homes near MRT stations generally enjoy strong demand. For homes in mature estates with shopping centres and other amenities, demand is well supported — even in a quiet market. One such development is Queens, located a short walk from the Queenstown MRT station. The 722- unit, 99-year leasehold condominium comprises three 39-storey towers. The eight-year-old condo along Stirling Road is near good...
Chevron House at Raffles Place has been sold for $547 million to a fund management Deka Immobilien of Germany, taking the total value of Singapore office investment sales deals this year to around $3 billion. The price works out to around $2,083 per square foot based on the net lettable area (NLA) of 262,650 sq ft. Formerly known as Caltex House, Chevron House is a 33-storey building on a site with a...
A prime Pasir Panjang site has been sold for S$33 million in a collective sale exercise to boutique developer Link (THM) Greenleaf. The 16-unit walk-up development located at 252 to 258 Pasir Panjang Road, attracted ten bids. The block of flats built in the 1960s, was put up for sale by tender with an indicative price range of S$26 million to S$30 million. "The tender closed with several parties...
The real worth of the railway land to Singapore is not the market value of the sites itself but the value it can unlock for the surrounding areas Politically it is a win-win deal. However, since the governments of Singapore and Malaysian announced on Monday their agreement to a land swap to end a two-decade long stalemate over the Malayan Railway (KTM) land issue, many have been asking which country...