RENTALS for private homes are taking a hit over the huge supply of condominiums and apartments available for rent and the business uncertainty among corporates. In December, rents fell by 1.3 per cent from the previous month, going by the SRX Property price index for non-landed private rentals released on Wednesday. This was driven by rental slides in the Core Central Region (city area) and Rest of...

BULLISH bids poured in for the first tender closing of 2017. But property consultants can't decide among themselves if it is a sign of market optimism or developers' need for work. Construction company Low Keng Huat beat 10 other competitors with its unexpectedly bullish bid for a residential site along Perumal Road which comes with first-storey commercial space. At a tendered sale price of S$174.08...

SINGAPORE'S property agency industry continues to shrink as more agents throw in the towel and smaller agencies close shop amid keen competition in a tepid market, with technological disruptions also nibbling at the transactions pie. Following the latest licence renewal exercise, the number of licensed property agencies fell to 1,286 as at Jan 1, 2017, a 6.1 per cent drop from 1,369 a year ago, and the...

For the second consecutive year, the prime area or Core Central Region (CCR) has outperformed the rest of the island in terms of resale prices for non-landed private homes, according to latest data from SRX Property. Moreover, the volume of resale transactions of private apartments and condos in CCR rose 52.5 per cent to 2,048 units last year - a faster clip than the increases of 24.2 per cent in the...

RESALE prices of non-landed private homes in Singapore rose 0.4 per cent month on month in December 2016 based on SRX Property's flash estimate. This follows a 0.5 per cent gain in November 2016. In December 2016, prices climbed 1.2 per cent in the suburbs or Outside Central Region (OCR) but eased 0.5 per cent in the city-fringe or Rest of Central Region (RCR). In the prime area or Core Central Region...

The land under the West Coast Viaduct is now available for short-term lease, announced the Singapore Land Authority (SLA) on Monday (Jan 9). “We are constantly looking into ways to creatively adapt state land and properties for interim use," said SLA's chief executive, Tan Boon Khai, adding that the space has been fitted with "electricity as well as modular structures to facilitate the piloting of new...

Maxwell Chambers, which houses the world's first integrated dispute resolution centre, will be tripled in size to bolster Singapore's position in this aspect of legal practice. A total of 120,000sqf will be added by taking over the adjacent Red Dot Traffic Building which is home to the Red Dot Design Museum, announced the Ministry of Law (MinLaw) on Thursday (Jan 5). The Singapore International...

AccorHotels , Europe's largest hotel group, is creating a new lifestyle division to pool its fast-growing "boutique" hotel brands, the company said on Monday. From Feb. 1, Cedric Gobilliard will head the division, which comprises the Jo&Joe youth hostel brand and AccorHotels' stakes in Germany's 25hours Hotels and France's MamaShelter brands. Boutique hotels are usually small, stylishly-designed,...

The 143-hectare Raffles Country Club site in Tuas will be acquired by authorities to make way for the Kuala Lumpur-Singapore High-Speed Rail project. The club announced the move on its website on Wednesday (Jan 4). The announcement included a letter from the Singapore Land Authority informing the club of the acquisition. According to the announcement, the land is also needed for the Cross Island...

THE developer of Gemini@Sims, a freehold industrial project in Kallang, is looking to sell the entire ground floor of 13 strata units via an expression of interest. JLL, the appointed marketing agent, said Wenul Assets (Industrial) Pte Ltd is expecting offers above S$900 per square foot (psf) over the strata floor area. "The vendors are open to selling all the units to a single buyer or to multiple...