HEETON Holdings has finally sold its entire interest in the completed iLiv@Grange project. This was through a sale of shares in a wholly-owned subsidiary of Heeton which in turn owns 100 per cent interest in the company that developed the 30-unit freehold project. The deal values the entire 16-storey project (on an en-bloc basis) at S$95 million, which works out to S$1,623 per square foot based on...

LIKE their non-landed counterparts, since the third quarter of 2013, or the immediate term after the implementation of the Total Debt Servicing Ratio (TDSR) regime, the landed property market has seen declining prices and transaction volumes. We will analyse this market by looking at some statistics for the period from the first quarter of 2013 to August 2016. From this analysis, we come to realise that...

ACCORDING to the Ministry of Trade and Industry, Singapore's economy grew 2.1 per cent year on year (y-o-y) in Q2 2016, the same rate of growth as the previous quarter. With looming concerns over the weaker global outlook and the impact of Britain's vote to leave the European Union, its economic growth forecast for 2016 also narrowed to 1 per cent to 2 per cent instead of the 1 per cent to 3 per cent...

ONE has to concede that Orchard Road is not the shopping belt it once was during its halcyon days. No longer do you see throngs lining the 2.2-kilometre boulevard, not even on weekends. Once regarded as the shopping and entertainment destination for Singaporeans and tourists alike, are Orchard Road's glory days dwindling? To better understand the wane of such a key shopping destination, it is worth...

Average industrial rents island-wide could fall 6-8 per cent year on year in the fourth quarter of 2016, as industrialists take bold consolidation and relocation steps to cope with challenging business conditions, said a Knight Frank report released on Friday. Rentals have fallen 4.4 per cent cumulatively for the first half of this year, according to official data from JTC. Tan Boon Leong, executive...

HDB resale prices were unchanged in the third quarter compared to the second quarter, based on flash estimates from the Housing & Development Board. This is the second straight quarter that HDB resale prices have stayed flat, in what is seen as a sign of continued stabilisation of the public housing market. The HDB resale price index is still 9.8 per cent below the peak in the second quarter of...

FLASH estimates released by the Urban Redevelopment Authority (URA) for the private residential property price index on Monday showed a 1.5 per cent decline for the third quarter of 2016. This compares with a 0.4 per cent decline in the second quarter. Prices of non-landed private residential properties declined by 1.8 per cent in the core central region (CCR), compared to the 0.3 per cent increase...

MCC Land, the Chinese developer of the 626-unit The Alps Residences in Tampines, sold 270 units on the project's launch day on Sunday, the company said in a media statement. The one-bedroom and two-bedroom units made up 88 per cent of the units sold. Prices of the one-bedroom units were between S$491,000 and S$538,000; those of two-bedroom units went for at least S$693,000, and for as much as...

LEE Rubber Company is selling a stand-alone block of 11 adjoining conservation shophouses in Lavender Street for nearly S$55.56 million. A fully-owned unit of Lee Rubber that owns the freehold interest in the property will carve out a 99-year leasehold interest for the buyer, Broadway Textile. Broadway is located at Textile Centre along Jalan Sultan nearby and is understood to have a part...

Five teams have been shortlisted to develop a concept master plan for the Jurong Lake District, billed as Singapore’s second Central Business District, the Urban Redevelopment Authority (URA) said on Tuesday (Sep 27). “This marks another important step towards realising the vision of Jurong Lake District as a ‘district of the future’ and our second Central Business District,” URA said in a...