Barclays Capital says market has peaked, rent to drop 5% this year and more in next 2 years Have home rentals peaked? With a looming rush of new supply, one bank is predicting that they could fall by as much as 25 per cent by 2010. That is good news for tenants, but not so good news for landlords, who saw private rentals surge an average of 41 per cent last year. This bold forecast comes in a report...
Should those who oppose an en bloc sale get more money for their flats than those who support it? Disgruntled owners of homes in Regent Garden don’t seem to think so. They are going to the Court of Appeal, after property developer Allgreen offered six owners more money than it had to the others so that the six would no longer hold up the sale. This, after a High Court decision last month that the en...
Developers have lowered asking price to bring in buyers Singapore’s much-anticipated property market slowdown is here. April saw a 58-per-cent dive in new property launches by developers as buyer sentiments soured. According to data released by the Urban Redevelopment Authority (URA) yesterday, developers put 271 new private homes on sale last month, down from 642 in March. Sales dropped by another...
CapitaLand has launched a new programme to encourage more people to adopt a green lifestyle. Called “Building a Greener Future”, the programme features a range of environmental-friendly initiatives. For a start, 100,000 re-usable shopping bags will be given out to shoppers through tenants at the 11 CapitaLand Malls. The bags come with a loyalty programme that rewards shoppers for using the bags,...
Sales in the private residential market have dipped in April after a mild recovery in March. According to the numbers of private home sales released by the Urban Redevelopment Authority (URA), only 274 units were sold last month – down from 301 units in March. Developers were also holding back, with only 271 units launched in April – the lowest number of units since market weakness surfaced in...
The US sub-prime crisis has begun to hurt Asian property markets, the real estate investment arm of the Government of Singapore Investment Corporation (GIC) said at the FT Asia Property Summit on Thursday. While Wall Street starts picking up the pieces from the sub-prime crisis, GIC said, the Asian property market has just started to feel the impact. The investor added the fallout would be even greater...
Several buildings have won silver and bronze in the Building and Construction Authority's (BCA’s) annual Universal Design (UD) Awards 2008. The office housing Xilinx's Asia Pacific headquarters which boasts natural sunlight, wide passageways and employee-friendly facilities clinched the silver award. Changi Airport Terminal 3 clinched the silver award However, the competition which has been held for...
The building boom in Singapore and the Middle East is proving to be a boon for engineering and construction company Yong Nam Holdings. Its net profit for the first quarter rose 267 percent to about S$6 million. Revenues increased 56 percent to S$47.4 million. Yong Nam saw increased activities from projects such as Orchard Turn, Marina Bay Sands Integrated Resort, Formula One and the Dubai Metro...
Following the S$13 million makeover of Anchorpoint Shopping Centre, Frasers Centrepoint Trust has plans to turn its attention to other suburban malls under its stable. Anchorpoint's new look appears to be getting the thumbs up from retailers. Lee Hsien Yang, chairman of Fraser & Neave, said: "Anchorpoint used to be occupied by furniture shops, but I think we felt there was a niche in the market for...
Mainboard listed Banyan Tree Holdings on Thursday announced it has booked a 38 per cent increase in first quarter earnings. Its net income for the three months ended March 31 came in at S$15.4 million, largely driven by growth in its hotel investment and hotel residence/property sales segments. Its revenue rose by 34 per cent to S$140.3 million. Banyan Tree said it is cautiously optimistic for the next...