For those holding out for a rollback of property curbs after an election victory by the People’s Action Party (PAP), the wait may be longer than anticipated. The pace of decline in home prices will need to double the 6.7 per cent drop from the peak two years ago before any of the restrictions are eased, said Chestertons Singapore and RHB Research Institute Singapore. “The winning of a...
Principal Garden is a condo whose four apartment towers and facilities occupy less than 20 percent of the development’s total land area. The remaining site is transformed into an expansive landscape of lush gardens, sweeping lawns, pools and water features, within which nestle an array of recreational facilities. Warm-grey walls, earthy terracotta-coloured frames and generous use of glass add unique...
Sales of private homes by developers slumped 69.3 per cent last month amid a quiet market with few launches. Excluding executive condominiums (ECs), developers sold 495 new units in August, down from the 1,611 units sold the previous month, data from the Urban Redevelopment Authority (URA) showed on Tuesday (Sep 15). Including ECs, 961 units were sold last month, down from 2,106 units in...
The supply of new office space in the central business district (CBD) is likely to outstrip demand, giving tenants more options and forcing landlords to reduce rents amid global headwinds, according to analysts. Property services firm Century 21 has said that Singapore, being such an open economy, will be hard hit by global economic conditions such as the slowdown in China and the turmoil in stock and...
Five adjoining shophouses along Joo Chiat Road were put up for sale on Monday (Sep 14), with the seller seeking bids on a freehold basis in excess of S$14 million. In a statement on Monday, property consultancy firm Chestertons said that the shophouses, numbered 142, 144, 146, 148, and 150, have a total land area of approximately 7,503.58 square feet. The site is zoned under "Commercial" in the 2014...
SuperBowl Jurong has been put up for sale at a indicative price of S$20 million, announced commercial real estate services firm Colliers International on Monday (Sep 14). The 111,000-square feet entertainment complex sits at 1 and 3 Yuan Ching Road, and comprises a part-two/part-three storey block, and a pair of two-storey blocks. The property has a 30-year lease from JTC with effect from Jan 1, 2002...
Metro will close its City Square Mall outlet when its lease expires at the end of the year, said City Developments Limited (CDL) and Metro Holdings Limited in a joint statement on Monday (Sep 14). The mall “will be introducing new concepts and brands by next Chinese New Year (February 2016). Tenants with these brands will take the place of Metro Department Store,” said Metro and CDL, which owns the...
Growth in China's real estate investment slowed to 3.5 percent in the first eight months of this year from the same period a year ago, though the area of property sold rose 7.2 percent, official data showed on Sunday. The weak rise in investment, reported by the National Bureau of Statistics(NBS), compared with an increase of 4.3 percent in January-July. The rise in sales by area compared with a 6.1...
Singapore’s key mortgage benchmark jumped to a seven-year high on Monday (Sep 14), ahead of a Federal Reserve meeting later this week that could mark the start of US interest rate hikes. The three-month Singapore Interbank Offered Rate (Sibor) rose 5.2 per cent to 1.13100 per cent, up from 1.07483 per cent on Thursday, according to latest data from the Association of Banks in Singapore. Monday’s...
Singapore-listed hotel landlord CDL Hospitality Trusts has made its first foray into the UK with the purchase of a 198-room hotel in Cambridge for £62.5 million (S$135.3 million). Announcing this in a statement on Wednesday (Sep 9), CDL Hospitality said the acquisition is its first in Europe and marks a diversification of its portfolio from the Asia-Pacific region. "The hospitality outlook for UK...