Singapore's luxury property market is likely to continue its bull run in the first six months of this year, driven by buying from wealthy foreigners and locals, a property consultancy said on Tuesday. The market is expected to take a breather from the second half but would mount another strong rally from early 2009, when Singapore is scheduled to open its first integrated resort (IR), said Tay Huey Ying,...
Property Investment
K-REIT Asia has reported a distributable income that is 24 percent higher than forecast at S$11.2 million. This is for the eight months from the end of April when the property trust was listed on the Singapore Exchange. K-REIT cited higher rental income and higher rental rates for new and renewed leases for the strong performance. For the three months to December, it booked a distributable income of...
Even as developers gloat all the way to the bank with their new projects continuing to fetch stratospheric prices, a little remarked fact is that it has led to an oxymoronic development in the industry — pricey new launches that are “affordable”. Despite the fact that prices for many of these new projects are hitting 10-year highs such as the nearly $1,700 per square foot (psf) prices seen at the...
A new residential project at Meyer Road is setting a new benchmark for properties in that area. According to developer GuocoLand, apartments on the higher floors of its boutique development, The View @ Meyer, have achieved selling prices of close to S$1,700 per square foot. The average price for other units facing the sea is close to $1,500 per square foot. This is a price level not seen in the Meyer...
Shareholders of Mapletree Logistics Trust have approved plans by the trust to issue new units. Under the proposal, first announced last month, Mapletree is seeking to raise up to S$349 million to help boost its market share in Asia. The funds will be used partly to fund the acquisition of 15 new distribution centres and warehouses in Singapore, Malaysia, Japan and China, and to refinance 5 properties in...
Mapletree Logistics has reported a full year distributable income of more than S$40 million. This translated to a distribution per unit of slightly over 5 cents, which was 11 percent higher than forecast. MapletreeLog's distribution per unit for the fourth quarter rose 38 percent on year to 1.45 cents as a result of property acquisitions. At the end of December, MapletreeLog's property portfolio of 41...
Property consultant CB Richard Ellis (CBRE) has painted a rosy outlook for real estate investment trusts in Asia in 2007. It said it expects Asian REITs to follow their present expansionary trend this year. CBRE cited robust economic conditions, continued demand for property and a more benign interest rate outlook for its optimism. But it also warned that investors should be mindful of the volatility...
While the euphoria and hype of the high-end residential property market have yet to filter down to the mass and mid-market segment, where home prices are still in the doldrums, it is a happier situation in the rental market. Rents for private residential apartments across the board are edging towards their 1997 peak, say experts. “Rentals are picking up quite a lot — by 8 per cent to 10 per cent on...
More competitive prices are in store for homes in Singapore's central business district as more supply is coming on stream. Analysts say they expect downtown homes to remain to be hot property items, especially if they offer great views. Six condominium projects have already been announced for Singapore's central business district. Those which have been launched so far, especially the waterfront ones,...
Last month's buying frenzy at the Marina Bay Residences — which saw penthouses sold for a staggering $3,400 per square foot — has bumped up the growth of Singapore's private-home prices to a seven-year high. All in, private-home prices grew by 10 per cent last year — the highest since 1999. But this is only for high-end homes, with the mass market remaining sluggish, cautioned analysts. According...