Property consultancy CB Richard Ellis (CBRE) is revising its rental forecasts for 2009, given better-than-expected average rentals in the second quarter. The firm now expects Orchard Road rents to fall between 10 and 12 per cent this year, a less drastic decrease than its earlier estimate of 15 to 20 per cent. Suburban mall rents are likely to contract between 5 and 6 per cent, down from its earlier...
General
Most economists expect Singapore to achieve a double-digit economic growth for the second quarter of 2009. This could range between 12 and 23 per cent on a seasonally-adjusted, quarter-on-quarter basis. They attribute the forecast to better industrial production and external trade numbers over the past months. In addition, observers said the financial services sector, stock market and property sector...
For the first time, opposition-held Potong Pasir and Hougang will be eligible for the Lift Upgrading Programme (LUP) for 65 precincts islandwide. Senior Minister of State for National Development Grace Fu revealed this to the media on Monday at a Home Improvement Programme (HIP) event. Residents received upgrades to their piping, laundry areas and electrical systems and 33,000 more households across...
Location: Tanah Merah Kecil Avenue (District 16) Tenure: 99-years leasehold from 09 Dec 2008 Year of Completion: 2012 Total Units: 297 (5 towers, 14 storeys) Site Area: 106,299.88 sqft Facilities: Full facilities condo with free form pools and tennis court Unit Types: 1 bedroom ~ 504 - 596 sqft 2 bedroom ~ 714 - 1400 sqft 2+1 ~ 948 - 1699 sqft 3 bedroom ~ 1211 - 2020 sqft 3+1 ~ 1288 - 2393 sqft 4...
Address: 1 Magazine Road Singapore 059567 Location: Located by the historic Singapore River and near the financial hub of Raffles Place and Shenton Way. Easily accessible via CTE Nearest MRT Station: Clarke Quay / Chinatown MRT Station Description: Central Mall is a 7-storey office building with ground floor retail units. Within the development are 2 and 3 storey conservation warehouses for retail,...
Private home buyers remain unfazed despite the global economic downturn and the government's recent proposal to tax speculators who sell more than one property within a four-year period. Freehold condominium "The Gale" in Loyang has certainly caused quite a storm. Prices average S$700 per square foot and so far, half its 330 units have been snapped up. It is an encouraging sign for developer Hong Leong...
It may be best to gather more public feedback before changing the tax policy on profits earned from property sales, say analysts. Analysts Channel NewsAsia spoke with said that it is because some are concerned the proposed amendment may hurt the property sector and Singapore banks. The Singapore residential property market is showing signs of picking up, but analysts say the proposed tax amendment may...
The delay in the opening of Marina Bay Sands integrated resort could potentially mean millions of dollars in losses. Analysts say that it is not just the integrated resort that stands to lose, but Singapore could potentially see lower tourism receipts as a result. The opening of Marina Bay Sands at year-end was seen as one of the highlights in Singapore's tourism calendar, in what has been a dismal year...
An indication of just how market confidence has turned in a span of just two months can be seen in the sale of the penthouse at Arcadia. The 7,503 sq ft unit was first put up for sale by auction at the end of April. The indicative price was $6 million then, but there were no bidders. However, according to a caveat lodged with URA Realis on June 8, the penthouse has been sold for $6.25 million. Also in...
Freehold modern luxury tucked away in an exclusive enclave at 8 Cairnhill Rise. Each aspect of the development is thoughtfully crafted, with exquisite attention to detail. Located in prestigious District 9, the luxurious 50-unit development is a short stroll from Orchard Road, Singapore's shopping and entertainment belt. Designed by world-renowned US architects Arquitectonica, Alba's unique and...