The sun sets on not one, but two iconic housing estates in Singapore at the turn of the year, with residents at Rochor Centre and Dakota Crescent ordered to move out by end-December. Even though most of the affected 400 households in Dakota Crescent have relocated, some have chosen to move out in this last week before the eviction deadline, the Housing and Development Board (HDB) said. When Channel...
Pei Fu Industrial Building is your typical industrial building found all over Tai Seng. Located at the end of New Industrial Road, just off the busy intersection of Upper Paya Lebar Road and Bartley Road East, the old six-storey structure houses a hodge-podge of businesses ranging from safety equipment vendors to interior fitting firms. On the first floor, there is a food wholesaler, where trucks are...
PRIVATE residential prices slipped 0.4 per cent in the fourth quarter from a quarter ago, after a steeper 1.5 per cent decline in the third quarter. For the whole year, prices have fallen 3 per cent, a smaller magnitude compared to the 3.7 per cent drop in 2015, flash estimates from the Urban Redevelopment Authority (URA) released on Tuesday show. Non-landed properties marked a 0.7 per cent price...
It's been a banner year for big-ticket property transactions of at least S$10 million each. As at Dec 23, the tally stood at S$22.5 billion - up 31 per cent from 2015's S$17.2 billion, going by Savills Singapore's figures. CBRE and Cushman & Wakefield have similar numbers. This year's tally of property investment sales, as these transactions are also known, is the highest in three years and has...
The sale by tender of a mixed commercial and residential land parcel in the upcoming Bidadari housing estate has been deferred, it was announced yesterday. The site, which can yield 825 private homes and 15,000 sq m of commercial space, was due to be put on the market this month. It will now go up for tender by the end of the first quarter next year, said the Housing Board (HDB), which added that...
PRICES of completed private apartments and condominiums slipped 0.7 per cent in November from a month ago. This is based on the flash estimate by National University of Singapore (NUS) for its overall Singapore Residential Price Index (SRPI) released on Wednesday. Faring the worst during the month were completed units (excluding small units of 506 square feet or below) in the Central Region, which...
BROKERAGES are flagging more volatility for the Singapore real estate investment trust (S-Reit) sector, but they are also calling a "buy" on it. This is mostly because brokerages believe S-Reits still make a good defensive yield play amid growing global uncertainty and slowing growth in major economies. Yield plays gain traction as a safe haven in an unsafe world. S-Reits have also outperformed the...
THE Ministry of Trade and Industry (MTI) has launched its Industrial Government Land Sales (IGLS) Programme for the first half of 2017. There will be 6 sites in the confirmed list and 5 sites in the reserve list, with a total site area of 11.25 hectare (ha). The confirmed list of industrial sites will total 3.27 ha. These include plots in Tuas South Link 3, Tampines North Drive 3, Jalan Lam Huat and...
AS YET another sign of tough times facing businesses, new office leases this year - by companies that previously did not have a presence here or were not in the building where the new lease is inked - made up only 10 per cent of all office leases inked this year, down from 20 per cent in 2015. Relocation leases accounted for a significant 63 per cent of the leases, while the balance 27 per cent are...
The "flight-to-new projects" - a term used by the office leasing sector to describe the trend of tenants swarming into swanky new office projects - is set to continue next year as companies capitalise on softening rents to upgrade their working spaces. This merry-go-round, however, is causing pain to landlords of older buildings in the Central Business District (CBD). Based on analysts' projections,...