New and existing tenants will not be allowed to sublet their industrial properties from Jun 1 this year, the Housing and Development Board said in a press release on Monday (Mar 30). However, to facilitate business adjustments, HDB said tenants with existing approved subletting arrangements will be allowed to renew their subletting agreements until Dec 31, 2017. According to the HDB website, some of...
Singapore mortgage rates have risen on average by at least a third within the past month, amid an increase in Singapore's benchmark interest rate. Market analysts have said mortgage rates are expected to climb further in the coming months and more home owners are reviewing their financial position. Mortgage rates for home owners on floating rate loan packages are estimated to have risen on average from...
Hotel Properties Limited (HPL) has invested in a 30 per cent stake in a venture that is buying two prime properties in Southbank, central London, for £308 million (S$627 million), as the Singapore-listed hotel landlord and property developer expands its footprint in the British capital. In a regulatory filing with the Singapore Exchange on Saturday, HPL said its indirect wholly-owned subsidiary, HPL...
A key benchmark lending rate rose above the 1 per cent level for the first time in more than six years, indicating that mortgage rates will increase further in coming weeks. The three-month Singapore interbank offered rate (SIBOR) was fixed at 1.00129 per cent on Tuesday (March 24), according to Association of Banks in Singapore (ABS) data posted on Bloomberg, up 0.9 per cent from Monday's fixing of...
Singapore’s sovereign wealth fund GIC has set up a €300 million (S$447 million) partnership with Exeter Property Group. The partnership aims to invest in logistics properties in Europe, which offer easy access to motorways, water ports, airports and rail nodes. Exeter is a specialist in logistics, light industrial and business park properties. The company said it will use its skills to acquire and...
Private home sales have been moving relatively slowly recently - with less than 400 units sold in each of the last two months. Despite this, developer UOL Group is going ahead with its 797-unit condominium, Botanique at Bartley, citing encouraging signs in recent weeks. "Beginning this year, the launches were a little bit more muted but of late, the last few weeks we can see a lot more traction in other...
Prices of executive condominium (EC) units in some non-mature estates are likely to weaken going ahead, according to property analysts. They said this is due to the large volume of units currently available and in the pipeline. The EC scheme was introduced in the late 1990s, and since then, as many as 40 projects have been launched for sale. Official figures from the Urban Redevelopment Authority’s new...
Four shophouses at Boat Quay - a single shophouse and a row of three shophouse units - have been put up for sale, according to sole marketing agent DTZ Debenham Tie Leung on Wednesday (Mar 18). The single shophouse has a site area of 1,360 square feet (sq ft) and a gross floor area of 4,321 sq ft, while the three adjoining shophouses have a combined site area of 4,058 sq ft and a combined gross floor...
Following news that long-time tenants are moving out, Frasers Centrepoint Malls has announced a S$50 million makeover for the Centrepoint mall. A news release from Frasers Centrepoint on Wednesday (Mar 18) said the 16-month makeover is scheduled to start in May, and will see “major renovation works” on the ground and basement levels. The Orchard Road entrance will be revamped to have wider street...
Home buyers will have a greater variety of private housing choices with the release of a residential sale site at Tampines Avenue 10 on Tuesday (Mar 17), the Urban Redevelopment Authority (URA) said. Under the Confirmed List of 1st Half 2015 Government Land Sales Programme, the residential sale site (Parcel D) can yield about 490 residential units, with a lease period of 99 years. With a site area of...