PRE-COMMITMENT leases and rents for upcoming prime offices are picking up as occupiers are warming to these upcoming swanky buildings with large floor plates in a "flight to efficiency". Swiss private bank Julius Baer has signed a lease at close to double-digit rent for a "high density floor" spanning 100,000 square feet at Marina One. Julius Baer is slated to give up its 72,000 sq ft of space spread...
THE Monetary Authority of Singapore (MAS) on Thursday refined rules behind the total debt servicing ratio (TDSR) framework that would allow overleveraged borrowers to refinance their housing loans, subject to a prescribed debt restructuring plan. "The refinements... do not represent a relaxation of property market cooling measures," the MAS said in a press statement, noting that these would allow...
THE Singapore Land Authority (SLA) has launched a new online service, MyProperty, to let property owners view their title deeds and boundary plans. Currently, members of the public have to buy the information via SLA's Integrated Land Information Service or over the counter, paying a fee of S$5.25 to S$16. With MyProperty, property owners can now view their own title information without charge. The...
THE government is increasing development charge (DC) rates, payable for enhancing the use of some sites or to build bigger projects on them, for commercial, non-landed residential and hotel/hospital uses. However, DC rates remain unchanged for landed residential, industrial, place of worship/civic and community institution, and other use groups. The latest DC rates are for the period of Sept 1, 2016,...
Singapore's real-estate firms are facing record debt maturities, just as home sales post their longest-ever losing streak, straining the finances of builders less prepared to weather the storm. Singapore builders and trusts have an unprecedented S$1.8 billion of local currency bonds maturing this quarter, S$1.2 billion in the final quarter and another S$3.7 billion in 2017. Credit Suisse Private...
In the final part of a two-part series, Bernard Tong, managing director of The Edge Property, assesses the advantages of buying condominiums that are selling closer to cost. I spent some time off recently at Surin beach in Phuket, basking under the sweltering sun. At times, the heat became unbearable. Beach peddlers were selling chilled coconut, the perfect drink to quench my thirst - if not for the S$5...
We can all fondly recall that one euphoric moment when we discovered a great bargain and took advantage of it, whether it was for a 50-inch TV at a promo price of S$399 or that pair of sneakers you always wanted at half the original amount. But when it comes to buying properties, how easy is it to assess what is a good bargain? Recently, CapitaLand rolled out a stay-then-pay scheme coupled with a 15 per...
With its lavish interior designs and custom-made furnishings - including Italian hand-dyed rugs and handmade lamps sourced from New Zealand - The Great Room could be mistaken for the lobby of a brand new boutique hotel, instead of a co-working space. And that is what the founders set out to achieve. “This luxurious design concept came from observing how people like to meet in hotel lobbies....
New York has knocked off London as the world's premier city for foreign investment in commercial real estate due to fears the vote to leave the European Union would diminish the British capital's appeal as a global financial center. Data on cross-border property transactions indicate greater unease among investors prior to the referendum, which voters unexpectedly approved on June 23, than had been...
PROPERTY trust Viva Industrial Trust said on Monday that it has secured an anchor tenant for an area at Viva Business Park that was converted from industrial usage. It said the tenant, which will take up 38,000 sq ft of space, is a leading household name with a showroom and retail chain in Singapore. Renovations at the business park to convert up to 15 per cent of space to "white" space for a variety...