Singapore's private housing market is poised for modest price growth next year, amid a resilient leasing market. However, developers are expected to continue being challenged by the significant supply of unsold private housing units in the pipeline although, by some estimates, the oversupply could ease by the end of 2021. Data from the Urban Redevelopment Authority (URA) shows that as at the end of the...

Singapore real estate agency and advisory group OrangeTee Holdings has changed its name to OT Group (OTG), it announced in a press statement on Monday. The rebranding is meant to reflect a "unified identity" for the group, following the merger of its real estate agency arm with the agency arm of real estate consulting firm Edmund Tie & Co in 2017, OTG said. Its existing real estate agency will...

Sim Lim Square retail mall is up for collective sale under a second tender, following the discovery of an extra 27 per cent built-up space. SLP International Property Consultants Pte Ltd said the mall, located at the apex of the Ophir-Rochor corridor, will be put up for collective sale via public tender on Dec 16, 2019. Built in 1985, the strata titled retail mall is a 99-year leasehold site sitting...

Around 16,000 to 17,000 Build-To-Order (BTO) flats will be launched in 2020 to meet additional demand following key policy changes this year, National Development Minister Lawrence Wong announced in a blog post on Monday morning. New flats will be available in Sembawang and Toa Payoh next February and in May, new flats will be launched in Choa Chu Kang, Tengah, Pasir Ris and Tampines. The Ministry...

Singapore's sovereign wealth fund said it had signed a deal to buy a logistics real estate portfolio from funds managed by private-equity firm Apollo Global Management's affiliates for about €950 million (US$1 billion). The portfolio comprises 28 logistics assets across Europe, including in Germany, Poland, Slovakia, Netherlands, Belgium and Austria, GIC said in a statement on Friday (Dec 13). It...

Singapore's property glut is an unintended consequence of government measures to force developers to build and sell apartments quickly or face stiff penalties, according to City Developments Ltd. The city-state's second-biggest home builder has come out swinging against a rule that imposes a levy on companies if they don't complete construction and sell all units within a period of five years from...

Resale prices for non-landed private residential properties in Singapore dipped slightly in November after two straight months of increase. Sales volumes also declined, according to flash figures from real estate portal SRX Property on Tuesday. Condominium resale prices fell 0.1 per cent in November from the previous month, compared with a 0.8 per cent rise in October. Volumes, meanwhile, fell 7.2 per...

Rents for non-landed private homes in Singapore rose in November from the previous month, while those for HDB flats slipped, though they were both higher as compared to a year ago. Overall condo rents increased 1.2 per cent from October, and is up by 4.6 per cent year on year. However, they are still 16 per cent below their peak in January 2013. Rents in the suburbs, or the outside central region...

With private property prices increasing at a faster rate than wage growth, property experts are saying that the affordability gap for private homes could further widen for Singaporeans. Professor Sumit Agarwal from the National University of Singapore Business School said that the divide between income growth and residential property price increases could grow bigger, with technology set to displace...

StreetSine and the Singapore Institute of Surveyors and Valuers (SISV) have reached an understanding on the use of automated valuation models (AVMs) following mediation, which has resulted in StreetSine discontinuing proceedings that had been previously brought against SISV. In a joint statement issued on Tuesday morning, StreetSine and SISV said: "Pursuant to a court-initiated mediation process, SISV...