The Urban Redevelopment Authority on Tuesday (Jan 13) announced it is proposing to rezone parts of Geylang, so as to better manage the area in question and "prevent spillover of disamenities to surrounding areas". URA said the proposed area is bounded by Geylang Road, Lorong 22 Geylang, Guillemard Road and Lorong 4 Geylang, excluding the parcels of land zoned Road, the lots fronting Geylang Road and the...
Resale prices of non-landed private homes inched up 0.1 per cent in December 2014 from the previous month, while resale volume remained flat, according to flash estimates from SRX Property on Tuesday (Jan 13). Year-on-year, resale prices dropped 4.2 per cent from December 2013. Compared with the recent peak in January 2014, prices have declined 6.1 per cent, SRX said. Resale prices of private homes...
A joint venture company formed by two SGX-listed property developers has made a cash offer to acquire LCD Global Investments. Aspial Corp and Fragrance Group formed a firm called AF Global to bid for the mainboard-listed company that operates high-end hotels, resorts and serviced residences in Asia and the UK. In a filing to the Singapore Exchange on Monday (Jan 12), AF Global has offered 33 cents per...
Private home prices in Singapore are expected to ease for a few more quarters and according to a property analyst, that is because loan curbs - including the total debt servicing ratio framework that was introduced in 2012 - would continue to cool home buying interest. Numbers from the Urban Redevelopment Authority (URA) show that for the whole of last year, private home prices fell 4 per cent. Mr...
Singapore's industrial property market will continue to have a mixed outlook for this year, according to a report released by Colliers International on Monday (Jan 12). The real estate services firm said that companies are expected to remain cost-sensitive and may take longer to evaluate their business space needs. This is partly due to the fragile global economic outlook and lingering risks from...
The resale prices of Housing and Development Board (HDB) flats fell 0.4 per cent on-month in December, hitting a 41-month low, the Singapore Real Estate Exchange (SRX) said on Thursday (Jan 8). According to the SRX data, prices are now at their lowest since August 2011. The price drop was driven by non-mature estates, which saw resale prices decline 0.9 per cent last month. However, prices in mature...
The overall outlook for the hotel sector in the Republic this year appears positive, according to the latest report by real estate services firm Cushman & Wakefield. After a challenging year in 2014 when hotel occupancy rates fell, Cushman & Wakefield said it expects demand to recover in the short term. Geopolitical tensions in the region and a spate of aviation incidents last year dampened the...
More homeowners who took housing loans from banks are now looking for refinancing options. Loan specialists said they have been getting more inquiries since the recent spike in SIBOR (Singapore Interbank Offered Rate). Homeowners - whose mortgages are tied to SIBOR - are now facing higher monthly payments. One of those affected is 30-year-old engineer Lai Ming Kwan, who bought an executive condominium...
The three-month Singapore Interbank Offered Rate (SIBOR) reached 0.63 per cent on Wednesday (Jan 7), compared to 0.45 per cent on Jan 2. SIBOR is a key benchmark used to determine various lending rates. While the recent increase may signal the end of low interest rates, analysts said that for now, SIBOR remains well below historical levels. At 0.63 per cent, the three-month SIBOR is now at its...
A key interest rate that housing loans in Singapore are pegged to rose marginally on Wednesday (Jan 7), following two days of sharp increases. Bloomberg data showed the three-month Singapore Interbank Offered Rate (SIBOR) was fixed at 0.63707 per cent at 11.30 am on Wednesday, up slightly from Tuesday's fixing of 0.62052 per cent. The interest rate benchmark had jumped 7.4 per cent on Tuesday...