Prices of HDB resale flats have continued to rise. According to the Housing Development Board's (HDB's) flash estimates, prices rose 2.7 per cent in the first quarter of this year, compared to the last quarter of 2009. The rise was more moderate compared to the almost 4 per cent increase in the fourth quarter of 2009. It is the fourth consecutive quarter of price increase. Resale volume has, however,...
General
An executive maisonette in Bishan is on the verge of setting a new record for the most expensive HDB flat ever transacted. The flat is set to be sold for S$900,000, including an eye-popping cash premium of S$170,000. However, analysts say that such a sale would be an exception, rather than the norm. MediaCorp understands the owner had originally asked for S$950,000, but this was brought down to...
Another plot of land meant for Executive Condominiums (EC) will be put up for tender. The Housing and Development Board (HDB) said on Thursday that it will launch the tender of the land parcel at Sengkang East Avenue and Buangkok Drive in two weeks. The site, which was placed on the government's Reserve List System, has a 99-year-lease. It has an area of about 17,000 square metres, which can yield an...
Singapore's industrial and office property markets are showing signs of improvement. Property consultancy DTZ Research on Wednesday said that islandwide office occupancy improved in the first quarter of this year. The average islandwide office occupancy rate rose 0.7 percentage-point on-quarter to 92.4 per cent. DTZ said the improvement in occupancy rate was due to an increase in demand. There was also...
The Singapore Land Authority (SLA) has launched a tender for four sites at Lorong Chencharu in Yishun, for use as aquarium fish export centres. The four sites have a total land area of 17,189 square metres, which is equivalent to slightly more than two football fields in size. SLA said each site is offered on a 10-year lease, with an option to renew for a further 10 years. These four sites form part of...
Overcrowding has become a safety issue at Mustafa Centre, and the management has expanded its premises to accommodate more shoppers. This is in response to a possible Singapore Civil Defence Force (SCDF) court order. If confirmed, the first storey of the 24-hour shopping centre risks being temporarily closed. The centre, which sees up to 10,000 shoppers daily, has expanded certain areas in its premises...
Rents seen staying soft because of the substantial supply pipeline Office rents contracted for a sixth straight quarter in the first three months of this year - but the decline was marginal and rents appear to have stabilised on the back of positive occupier demand and the brighter economic outlook. According to CBRE Research, prime office rents eased 0.7 per cent to $6.70 per square foot per month (psf...
Average monthly gross rent for hi-tech industrial space up 1.6% in Q1 Better days may be ahead for landlords of industrial space, with rents having stopped falling for some properties and even rising slightly for others. According to DTZ, the average monthly gross rent for hi-tech industrial space, including that at business and science parks, was $3.15 per sq ft in the first quarter of 2010. This is a...
AN APPEAL to supermarket chain Sheng Siong to reconsider raising rent from today has been rejected. In response to a letter from stallholders from the Serangoon Avenue 3 wet market last week, Sheng Siong's management said the rental hike was 'a decision made by our board of directors, after considering all factors, such as long-term and short-term costs and sustainability of the business model'. It added...
POPULAR retailer Mustafa was fined $10,000 yesterday, after it pleaded guilty to illegally using its six-storey warehouse building in Kallang Pudding Road for retail sales. The fine caps a saga which began last November, when the Urban Redevelopment Authority (URA) served a writ of summons on Mustafa for converting the first two levels of its warehouse into a department store and a supermarket. These...