Good news for Singaporean holiday makers and local businessmen travelling abroad. According to the latest Hotel Price Index from Hotels.com, the average price of a hotel room around the world fell by 17 per cent in the first six months of 2009. The survey found that in major destinations across the Asia Pacific, Singaporeans are now able to enjoy lower hotel rates for regional travel. Beijing saw hotel...
General
Location: 6 & 8 Keng Chin Road (District 10) Tenure: Freehold Site Area: approx. 163,000sqft Carpark Lots: 320 Facilities: Full condo Total Units: 278 (2 towers, 24 storeys) Unit Types: 1 bedroom ~ 679 - 710 sqft 2 bedroom ~ 1016 - 1165 sqft 3 bedroom ~ 1480 - 1573 sqft 4 bedroom ~ 1722 - 2003 sqft 2 bedroom loft ~ 1343 - 1395 sqft 3 bedroom loft ~ 2159 sqft 4 bedroom penthouse ~ 2453 - 2691...
Measures to pre-empt any speculative bubble from forming in the private property market have been outlined in Parliament by the National Development Minister. Mr Mah Bow Tan said one of the steps to "temper the exuberance" of the market will be the immediate withdrawal of the interest absorption scheme and interest-only loans being offered for purchases of uncompleted property developments. Under the...
The topic of the affordability of HDB flats was raised in Parliament on Monday during question time. In his reply, National Development Minister Mah Bow Tan has again emphasised that they remained affordable. He explained the public housing body caters to eight out of ten Singaporeans earning from S$1,500 a month to S$8,000 a month with different types of flats, needs and tastes. And the HDB is putting...
Property consultancy CB Richard Ellis said on Monday that prime Orchard Road rents averaged S$32.90 per square foot in the third quarter, down three per cent from the second quarter. For the full year, CBRE said it expects Orchard Road rents to fall between 10 and 12 per cent, and a further decline is not expected to exceed five per cent next year. This means the eventual rental trough should not be less...
Billionaire Bhupendra Kumar Modi, who made his fortune from mobile-phone services in India, is planning to invest US$100 million ($142.5 million) in distressed assets including the island resorts on Batam and Bintan neighboring Singapore. Modi, chairman of Singapore-based Spice Global with interests from telecommunications to financial services, said he is in talks to buy stakes in all the resorts on the...
Experts have said there is room for another two to five real estate investment trusts (REITs) in Singapore in the next two years. These are likely to be large cap domestic REITs similar to listed ones like CapitaMall Trust and A-Reit. While not giving any specifics, experts attending the annual CapitaLand International Forum also said there may also be more obstacles in creating these REITs. Anthony...
Mapletree Investments is looking to list a real estate investment trust in Singapore, with as much as S$4 billion in assets. Its CEO Hiew Yoon Khong told Reuters in an interview that Mapletree will launch the initial public offering (IPO) when market conditions are more favourable, such as when yield rates fall to 5 per cent from the current 8 per cent. The proposed Mapletree Commercial Trust will cover...
The encouraging response to the launch of City Developments’ 85-unit high-end Volari (the former Garden Hotel) at an average price exceeding $2,000 psf and improved sentiment in the property market have lifted prices of condominiums in the Balmoral neighbourhood. Adjacent to Volari is the 40-unit Sui Generis, jointly developed by Kajima Overseas Asia and United Engineers, and which set a benchmark for...
Where Urban Living meets Nature… The Best of Both World The Interlace is one of the largest and most ambitious residential developments in Singapore. It will present a radically new approach to contemporary living in a lush tropical environment. The site is located at the junction of Alexandra Road and Depot Road and is bounded by the Ayer Rajah Expressway to the north. To the south, the Southern...