The Republic's benchmark three-month interest rate eased to a two-week low on Tuesday (Apr 14), after the Singapore dollar rose as the Monetary Authority of Singapore kept its exchange-rate based policy unchanged. The three-month Singapore interbank offered rate (Sibor), which is used to set floating-rate mortgages, slipped to 1.01441 per cent, its lowest level since Mar 30. Three-month Sibor is...
There have been fewer unsuccessful applicants under the Married Child Priority Scheme (MCPS) for each Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercise over the last few years, National Development Minister Khaw Boon Wan said on Monday (Mar 13). In response to a question by MP Tin Pei Ling, Mr Khaw said the average number of unsuccessful MCPS applicants per BTO/SBF exercise has dropped from...
A project selling private homes at the largest integrated development in the north opened for walk-in sales on Saturday (Apr 11). Developers of North Park Residences have sold about 80 units, while about 320 units were sold at the project's soft launch last week. In total, about 40 per cent of the 920 units have been sold so far. North Park Residences will be part of Northpoint City, which will also...
Spaces for social communal facilities – such as childcare and eldercare centres – are set aside by the Housing and Development Board (HDB) and various agencies, who work in tandem to construct these facilities at new public housing developments. In response to questions on the planning of childcare centres for new HDB precincts by Dr Lee Bee Wah, Minister of State for National Development Dr Maliki...
Occupancy levels at Singapore business parks rose in the first quarter of 2015 as industries such as the infocommunications industry and the pharmaceutical industry took up more space, property services firm CBRE said on Thursday (Apr 9). CBRE estimated the vacancy rate at business parks fell to 10.4 percent in the first quarter, down from 11.7 percent in the last three months of 2014. It added that...
Shopping mall rents in Singapore fell during the first quarter and will likely decline further over the next 12 months, hurt by falling visitor arrivals and weak retail sales, property services firm Cushman & Wakefield said on Wednesday (Apr 8). Cushman said the biggest drop was seen in city fringe areas such as the City Hall and Marina Centre area, where rents fell 1.3 per cent quarter-on-quarter to...
The resale prices of Housing and Development Board (HDB) flats dropped 0.8 per cent on-month in March, SRX Property said on Thursday (Apr 9). They have been on a downtrend since January last year. The drop in prices in March was seen throughout all property types, except for HDB executive flats which rose 1 per cent. Resale prices for three-room and four-room flats dropped by 0.9 per cent and 1.1 per...
Oversea-Chinese Banking Corporation (OCBC) is poised to divest a portfolio of more than 30 shophouses and strata shop units across Singapore which market watchers estimate could be worth around S$150-200 million. The shophouses are in locations such as Havelock, Geylang, Upper Thomson and Upper Serangoon roads, while the strata shop units are in places such as Jalan Besar Plaza, Hoa Nam Building along...
Amid the sluggish property market in recent years, prices of leasehold private homes appear to have been more resilient than those which are freehold, according to a study by consultancy Cushman & Wakefield. Cushman & Wakefield said prices of non-landed freehold homes saw a steeper drop of over 4 per cent since the third quarter of 2013, compared to the 1 per cent decline for those on a 99-year...
The Centrepoint along Orchard Road will soon go through another facelift to make itself more attractive to shoppers and tourists. But in an increasingly competitive landscape, malls along Orchard Road must also offer other leisure activities and facilities to complement the retail experience, according to property experts. Orchard Road receives more than seven million visitors each year, but it is...