SIM Lian Group on Tuesday announced it would release approximately 200,000 square feet of large office spaces for lease at Vision Exchange, at a rate of S$6.80 to S$7.20 per square foot per month. The spaces will be spread out across the top eight floors of the 25-storey mixed-use integrated development located in Jurong Lake District. Each level spans approximately 25,000 sq ft, with the minimum...
EVEN as tenant demand for commercial property has fallen at its fastest pace in Q1 this year since the depths of the financial crisis in 2009, the Royal Institution of Chartered Surveyors (RICS) is anticipating a further drop in capital values and rents over the coming year. On the occupier market front, demand fell last quarter across all sectors even as available space continued to rise. About 64 per...
The launches of two residential projects over the long weekend were met with muted response, with the Parc Life executive condominium (EC) project in Sembawang by Frasers Centrepoint Limited (FCL) and Keong Hong Holdings selling over 50 units of the total 628 units as at Monday. This translates to a take-up rate of 8 per cent, despite the developers throwing in S$3,000 worth of Frasers shopping mall...
Keen to have a second property as a “vacation house”, 46-year-old Mr Khoo has been on the lookout for a private condominium since the start of 2016. The Singaporean, who did not want his full name to be used, currently owns an HDB flat with his wife, so he was keen on taking up his property agent’s suggestion to “decouple” from his existing property to avoid having to pay Additional Buyer’s...
Developers for commercial buildings and schools will have to submit a Walking and Cycling Plan (WCP) from July 2016, said the Land Transport Authority (LTA) and the Urban Redevelopment Authority (URA) on Tuesday (May 3). The WCP will apply to commercial developments, such as shopping complexes, offices, business parks, as well as schools, they added in a press release. This new requirement is so...
PARK Gallery, a townhouse development located at Cova on Australia's Hope Island, is sold out, Frasers Property announced on Wednesday. Since launching in November, Frasers Property Australia, the Australian division of Frasers Centrepoint Limited, has achieved more than A$28 million (S$28.9 million) from the sales of 60 townhouses at Park Gallery. The 60 "architecturally designed" Park Gallery...
While the jury is still out on a review by the Urban Redevelopment Authority (URA) of the minimum rental period for private residential properties, cases of potential breaches are being looked into. The URA and the Council for Estate Agencies (CEA) said they are probing cases cited in recent articles published in The Business Times on potential short-term stays being offered in private residential...
Resale prices of completed private apartments fell in March, snapping two straight months of marginal increases. Overall resale prices declined 1 per cent from February, owing to a sharper drop in suburban areas, according to flash estimates from the NUS Singapore Residential Price Index (SRPI). This followed the revised 0.5 per cent rise in February and a 0.2 per cent increase in January. The...
Industrial rents in Singapore fell 2.7 per cent quarter on quarter (q-o-q) and 5.1 per cent year on year (y-o-y) in the first quarter of 2016, JTC Corporation’s latest statistics released on Thursday show. Industrial property prices have also fallen 2.5 per cent q-o-q and 4.8 per cent y-o-y in Q1 2016. Vacancy rates island-wide also rose by 0.5 percentage point to 9.9 per cent. However, despite higher...
A RARE District 9 private housing site being offered at a state tender is generating much buzz in the market. The developer of the nearly 1.6-hectare site located at the corner of Martin Place and River Valley Close may build 450 units at most - subject to a maximum gross floor area of 480,306.75 square feet. Part of the site has a 20-storey height restriction, while the rest of the plot has a...