The government cannot take a hands-off approach to the property cycle and allow bubbles to develop, said National Development Minister Lawrence Wong as he explained the rationale behind July's cooling measures at the anniversary dinner of the developers’ body on Thursday. He also reasoned that had the authorities not intervened, private home prices this year are very likely to have exceeded a 10 per...

Motor trade entrepreneur Karsono Kwee’s Eurokars Group is expanding its property ownership in the prime Leng Kee motor belt. Eurokars is understood to be buying 23 Leng Kee Road for S$33 million from Yong Lee Lee & Company. Eurokars Group already operates out of the building, which among other things houses the showroom and service centre for Mazda, for which the group is the authorised distributor in...

A 3.8 hectare white site at Pasir Ris Central saw three bids from developers at the close of the tender on Friday. Among the bidders was Far East Organization, while Singapore Press Holdings and Kajima Development submitted a joint bid. The third bid was from Phoenix Residential and Phoenix Commercial; both companies are owned by Allgreen Properties and Kerry Properties, which are in turn linked to...

Resale prices of private non-landed homes in Singapore increased in November, after three straight months of declines after property cooling measures were introduced in July, flash estimates by real estate portal SRX Property has shown on Tuesday. Condominiums and private apartment resale prices strengthened by 0.2 per cent last month from October. This follows the 0.3 per cent drop in October, a figure...

Just when Singapore's residential property market was reviving after a four-year slump, government moves to curb the exuberance might play spoiler going into the new year. Home prices that are forecast to climb as much as 10 per cent this year could remain flat in 2019 and may decline as much as 3 per cent, estimates from property brokers compiled by Bloomberg News show. Home sales that lagged behind...

Park View Mansions will relaunch on Wednesday its collective sale tender with a 22 per cent lower reserve price than before, making it the latest case of owners dialling down their expectations amid a quieter en bloc market. More than 80 per cent of the owners at the 191,974 square feet (sq ft) development right by Jurong Lake Gardens have agreed to a reserve price of S$250 million, down from S$320...

A 2.75 hectare white site in Woodlands Regional Centre has been released for sale by the Urban Redevelopment Authority (URA) under the reserve list of the second half 2018 Government Land Sales programme. The mixed-use site has a maximum permissible gross floor area (GFA) of 115,747 square metres (sq m), with at least 45,000 sq m of this to be set aside for office use. The remaining GFA can be for...

Fewer new flats will be launched next year, with 15,000 homes expected to be on offer – down from 15,800 this year, according to the Housing and Development Board (HDB). "In the last two years, the first-timer application rates for three-room and larger BTO (Build-to-Order) flats in all estates have remained stable at about two times," HDB said in a press release on Friday (Dec 7). Most...

The Government today announced the first half 2019 (1H2019) Government Land Sales (GLS) Programme, which comprises five Confirmed List sites and nine Reserve List sites. These sites can yield about 6,475 private residential units, 86,000 sqm gross floor area (GFA) of commercial space and 1,115 hotel rooms (see Appendices 1 & 2). The five Confirmed List sites are private residential sites which can...

THE next big disruptor in hospitality, according to Ian Schrager, is co-living spaces. "Communal living is blurring the distinction between residential and hotels," the hotelier and Studio 54 co-founder argued during Bloomberg's Year Ahead: Luxury conference in Manhattan last week . The mastermind behind the Public Hotel urged audiences to look at millennial buying statistics as evidence of this...