Another group of owners in Singapore is hoping to cash in on the current red-hot property by launching an en bloc sale. Toh Tuck Apartment, located off Upper Bukit Timah Road, has been put up for sale by tender. The asking price is around S$35.5 million. The freehold residential site comprises 13 apartment units with sizes averaging 223 square metres. Each owner is expected to get an average S$2.73...
General
Property consultant CB Richard Ellis said the pace of prime Orchard Road rental decline slowed in the first quarter this year. In a research report, it noted that prime Orchard Road rents averaged S$32.20 per square foot per month in the first quarter, down by just 0.7 per cent on-quarter. Rents had declined between 1.5 per cent and 3.3 per cent in the previous four quarters. Prime suburban rents,...
Property developer Keppel Land said almost all the rental space available under the first phase at the Marina Bay Financial Centre (MBFC) has been taken up ahead of completion. The space was nearly fully utilised after investment bank, Barclays Capital, committed to leasing ten additional floors at MBFC Commercial Tower Two. This brings the total amount of space it leased to about 350,000 square feet,...
According to an HDB survey, over 98 per cent of residents said they developed a sense of belonging to their estate. Neighbourliness is also strong amongst those polled. Over 94 per cent said they do have casual conversations with neighbours. This is an improvement from the 82 per cent seen in the last survey. While most neighbours are comfortable with exchanging a greeting or two, the comfort level...
The Housing and Development Board (HDB) has assured residents that it will ensure that their marketing needs are met in the wake of the recent rent hike at five wet markets operated by Sheng Siong. The HDB said it has received feedback from local advisors and residents, expressing concerns over the rent hike. HDB said: "Besides these wet markets, there are also other markets and supermarkets...
WITH prices of public housing busting records in recent months and concerns escalating over supply and affordability, the man overseeing Singapore's red-hot property market has found himself in the hot seat. But the ever unflappable National Development Minister refuses to be unnerved by the emotionally charged debate now playing out online and in newspaper forums. Rather, in his first full interview...
THE Government is concerned about home owners cashing out from their flats prematurely and is considering ways to discourage them from doing so, said National Development Minister Mah Bow Tan. The review comes amid concerns over a growing number of home owners who sell their Housing Board (HDB) flats to pay off debts or buy luxury items - and then return to the HDB to seek help with housing. Mr Mah told...
A small percentage of space is reserved for existing tenants' expansion MARINA Bay Financial Centre (MBFC) Tower 2 is close to being fully leased, after a new tenant came on board and an existing one took on more space. Prudential Asset Management (Singapore) will be leasing one and a half floors at the building, which works out to around 37,000 square feet of space. It will move in next year on a...
AFTER three consecutive quarters of growth, the value of property investment transactions in Q1 2010 fell 8.5 per cent quarter-on-quarter to $2.64 billion. The figures, compiled by DTZ Research, also showed that in contrast to last year when residential sales dominated the investment market, investments in the industrial segment stood out in Q1 2010. Industrial property investments accounted for $1.02...
Singapore PR Piegaia Gabriele in top bid of $79,251 per month NINE parties have submitted bids in a state tender to lease the former Alkaff Mansion, with the majority proposing food & beverage use for the landmark property. They have offered to pay monthly rentals ranging from $3,009 to $79,251 for the property at Telok Blangah Hill. The top bidder is LES Pte Ltd. A search with the Accounting and...