The economic downturn is hitting home, with private residential prices recording their steepest drop in a decade. Private home prices fell by 6.1 per cent in the fourth quarter of 2008, worse than an early estimate of a 5.7 per cent drop. The quarter-on-quarter decline in the October to December period follows a 2.4 per cent drop in the third quarter ended September. Strong demand pushed up private home...

Market-watchers have welcomed Budget measures, announced by Finance Minister Tharman Shanmugaratnam on Thursday, which are aimed at helping Singapore property developers through the current downturn. While analysts had already expected the government to unveil help for the depressed property market, they noted on Friday that some of the moves are particularly creative. These measures include allowing...

Industrial and commercial properties managed by the Housing and Development Board (HDB), JTC Corporation and the Singapore Land Authority (SLA) will get a 15 per cent rental rebate for one year. This will benefit more than 31,000 tenants, lessees and temporary occupation licensees and amount to S$306 million. The rebate will take effect from January 1, 2009, to December 31, 2009. It is part of the...

Nestled in the residential enclave of Bukit Timah (District 10), the glass and aluminium-clad tower of One Robin cuts a dashing figure in its prestigious neighbourhood. With 12 spacious apartments, one duplex and one penthouse, all boasting state-of-the-art imported designer fittings, OneRobin is a sanctuary for those who aspire to modern, luxurious living. Each owner can claim an entire floor of...

The value of property investment sales in Singapore hit a record low in the fourth quarter of 2008. In its latest report, real estate consultancy Colliers International said total investment sales in the three months to December fell by 93 per cent on-year to nearly S$577 million. This is the lowest since the property market picked up four years ago. It also represents a drop of 68.8 per cent from the...

CapitaCommercial Trust (CCT) will pay 11 cents per unit for its full year 2008, up 26 per cent from the previous financial year. The trust reported distributable income of S$153 million for its financial year ended 31 December 2008. CCT said it performed well in 2008 because of higher rental reversions and the addition of the One George Street property to the portfolio. The trust has also refinanced...

Singapore mainboard-listed Evergro Properties has posted a 178 per cent increase in full-year earnings. Net profit for the year ended in December came in at S$545,000. Revenue for the period rose 9.8 per cent to S$43.6 million. According to the property firm, sales last year were primarily driven by its projects in China, namely Changzhou and Tianjin, adding S$36.8 million to its coffers. Evergro noted...

K-REIT Asia's distribution per unit (DPU) climbed one per cent for the 12 months ended December 2008, hitting 8.91 Singapore cents. Total revenue for the period was up 84.2 per cent to S$23.4 million. The strong results were attributed to increasing rental rates. But real estate trust said in a filing to the Singapore Exchange that the current economic downturn is expected to affect its earnings,...

Jiā is the mandarin word for home. A place that gives you comfort, warmth and serenity. At Jiā, you’ll be pleasantly surprised at how easy it is to get away from the hustle-bustle of city living. This exclusive 7 storey development comprises only 22 units – 19 apartments and 3 penthouses. Jiā is situated at 65 Wilkie Road amidst lowrise buildings. It is nestled in the quiet and prestigious...

THE grey clouds hovering over the private property market here have gotten even darker. Islandwide launches of new private homes last month slumped to a record low since the Urban Redevelopment Authority (URA) started releasing the monthly data in June 2007. Developers placed just 157 units for sale last month, down nearly60 per cent from November. And out of these, they managed to sell 131...