Average home prices in China's 100 major cities edged up 0.03 per cent last month from December a year earlier, snapping eight months of decline and reinforcing signs of a property market recovery in Asia's largest economy, a widely-followed survey showed on Friday. The data from the China Real Estate Index System (CREIS) added to evidence that the real estate market has found support from broad monetary...
real-estate
Rentals for private homes may have hit record prices and volume in 2012, but some market experts said the market will be slower in 2013. Median rents as of October 2012 has reached S$3.75 psf, 14.3 per cent higher than the S$3.28 psf in Jan 2011. Commodities trader Pushkar Jamnerkar will be looking to work and live in Singapore with his family for the second time. However, property prices have spiked...
CDL Hospitality Trusts on Friday announced that it is buying the Angsana Velavaru resort in the Maldives from Banyan Tree Holdings for US$71 million (S$86.8 million). This marks the trust's first resort acquisition and a new geographic market segment. As part of the sale and leaseback agreement, CDL Hospitality Real Estate Investment Trust will grant a lease for the resort to Banyan Tree Holdings for 10...
The average number of penthouse units in executive condominium (EC) projects has climbed slightly in the past year, according to market watchers. The sale of a luxury penthouse recently has triggered a debate over the role of ECs. Some analysts have told Channel NewsAsia that while ECs are still relevant, some rules could be tweaked. ECs were introduced in 1995 and its objective is to provide...
A land parcel at 13/15 Wilkie Terrace has been sold to Roxy-Pacific Holdings for S$24.5 million. Its marketing agent, Jones Lang LaSalle, said the plot located off Dhoby Ghaut/ Selegie Road has been sold to a subsidiary of Roxy-Pacific Holdings in a private treaty deal. Jones Lang LaSalle added that the sale price of S$24.5 million reflects a land rate of S$1,259 per square foot per plot ratio based on...
Guang Ming Industrial Building, located at No 65 Upper Paya Lebar Road, has been put up for collective sale. The freehold industrial 'white site' has a land area of 19,789 square feet. Its marketing agent Cushman & Wakefield says the site is expected to fetch more than S$58 million. Among the likely interested parties for the site include small to mid-sized developers and those companies looking for...
Southeast Asia's largest property developer CapitaLand is reassessing its investments in India, Middle East and London. The company may divest some of its investments in office, commercial and residential properties in these three locations. CapitaLand says it now plans to focus on Singapore and China markets. Making his first major move since taking over the helm at CapitaLand, new President and Group...
Kismis Lodge, a freehold site located off Toh Tuck Road, is up for collective sale. This is the second time the site is being put up for sale. According to its marketing agent Jones Lang LaSalle, the 70,283 square feet site is zoned for a "3-storey mixed landed" development. The site can be redeveloped to yield up to 43 strata terraces or a combination of conventional and strata landed homes, subject to...
Property developer Hao Yuan Investment has admitted that the botched proposed sale of its Forestville executive condominium (EC) was due to "some technical issue." In a statement on Wednesday, Hao Yuan said it acknowledged that "there were some technical issues with regards to Forestville Executive Condominium." It added that its "architects are working closely with the relevant authorities to resolve...
NTUC Income will be acquiring a further 51 per cent stake in 16 Collyer Quay from Goldman Sachs to fully own the prime office building. In a statement, the Singapore insurer said the acquisition values the 37-storey, 999-year leasehold building formerly known as Hitachi Tower, at around S$660 million. This works out to less than S$2,400 per square foot on a net lettable space of over 278,000 square...