IN a move seen as boosting the transparency of the property market, the Urban Redevelopment Authority (URA) will from this month require developers of delicensed projects to submit the net prices of units sold. The URA will use this data to compute its widely-watched private home price index from this quarter. This will align the price information for developers' sales in delicensed projects with the...
AMID a lack of new residential project launches in August, executive condominiums (ECs) turned out to be best sellers. Developers sold a total of 805 private residential units and EC units in August, down from July's 1,921 units - with ECs taking up 41 per cent of the sales volumes in August. Excluding ECs, some 473 private residential units were moved in August, about 8 per cent fewer than a year...
ARA Asset Management Ltd has won the bid for a stake in Singapore's Capital Square office tower in the city's central business district, according to people familiar with the matter. ARA, which is listed in Singapore, is buying the 50 per cent stake in the building that was put up for sale last year by Alpha Investment Partners, said the people, who asked not to be identified because the process is...
Singapore landlords are paying the penalty for a slowing economy. Alone among the world's major cities, the cost of renting an office with panoramic views is falling as supply outstrips demand. Annual rents on the upper floors of Singapore's skyscrapers fell 7 per cent to about US$775 a square metre in the first six months, according to a 23-city index compiled by Knight Frank LLP. The biggest...
ROXY-PACIFIC Holdings has agreed to acquire a freehold residential site at Jalan Eunos for S$10.978 million, the developer announced on Wednesday after the market closed. The site, which comprises lots at 180, 182 and 184 Jalan Eunos, has an estimated total land area of 7,685 square feet and an existing gross plot ratio of 1.4 under the 2014 Master Plan. Roxy-Pacific, through wholly owned subsidiary RH...
The court fight between Takashimaya and its landlord Ngee Ann Development (NAD) over calculation of rent has concluded in favour of the department store. The High Court, in a written judgment on Wednesday (Sept 14), agreed with Takashimaya's contention that rental rate for the next five years should be valued based on the existing space configuration. NAD had sued Takashimaya last year after both...
THE Urban Redevelopment Authority (URA) will include sale transactions of delicensed residential projects in the computation of its quarterly private-home price index. This was announced by Real Estate Developers Association of Singapore (Redas) president Augustine Tan in his speech at the association's mid-autumn festival lunch on Wednesday. "I am pleased to note that through dialogue with Redas,...
FRAGRANCE Foodstuff, which sells traditional Chinese snacks and bak kwa (barbecued meat), is buying two prime adjoining New Bridge Road shophouses where it has been leasing the ground-floor space for its flagship outlet for about a dozen years. It is paying S$20.5 million for the two properties, at the corner of New Bridge Road and Pagoda Street and near the Pagoda Street entrance of the Chinatown MRT...
The Monetary Authority of Singapore’s recent fine-tuning of refinancing rules relating to the total debt servicing ratio (TDSR) governing property loans is a strong nudge towards deleveraging. Stretched borrowers who hold investment properties will have to think about actively managing down their debt, especially as rental income is under pressure and economic growth is easing. Far from stimulating...
A sprawling GCB, situated on one of the highest points of the Leedon Park GCB Area, has just been lauched for sale by tender by sole marketing agent JLL. Built in the early 1990s, 17 Leedon Park comprises a 2-storey bungalow with a built-up area of approximately 9,000 sq.ft equipped with a 21 m long in-ground swimming pool and a lavish garden. Said Mr Karamjit Singh, International Director and...