More firms may consider expanding their businesses in Singapore
More firms are planning to expand their businesses in Singapore due to the increase in supply of office space in the market.According to analysts, the expected sharp increase in office rentals in Hong Kong is another reason why firms find it more cost effective to hire in Singapore.Based on the...
Continue Reading • 15 Jan 2010
Grade A office rents to drop 20–25 percent, according to Savills
Rental rates of Grade A office spaces in Singapore are expected to drop by 20 to 25 percent this year. This will widen the gap between rents in the country and in Hong Kong, and will give Singapore a more competitive advantage when it comes to companies looking to expand their business in Asia,...
Continue Reading • 15 Jan 2010
Luxury and high-end home projects to dominate in 2010
Singapore's high-end and luxury home prices started to climb up this year, but developers and analysts are confident that further growth is possible.The smooth year began last week as CapitaLand sold 60 apartments in the 165-unit Urban Suites condominium in the Cairnhill area, with prices ranging...
Continue Reading • 14 Jan 2010
Green Lodge bid receives weak response
The tender for the en bloc sale of Green Lodge at Toh Tuck Road closed on Wednesday, but it is not clear if a winning bid for the site has emerged.It is believed that there were a few bids for the land parcel, but marketing agents Newman & Goh haven't announced the tender results. It is...
Continue Reading • 14 Jan 2010
Nomura Singapore to lease in MBFC
The Marina Bay Financial Centre (MBFC) is clinching another tenant, Nomura Singapore.The Japanese bank, which acquired the operation of Lehman Brothers in late 2008, is expected to lease 100,000 square feet of office space in Tower 2 of MBCF, which is slated for completion in mid-2010.The signing...
Continue Reading • 13 Jan 2010
GCBs fetching top dollar
Singapore’s Good Class Bungalow (GCB) market did well last year and is expected to remain so in 2010 as the economic condition of the country improves.The average price on a psf basis reached as high as $826 in 2009, up from $820 in 2008 and $681 in 2007, according to CB Richard...
Continue Reading • 11 Jan 2010
Preview sales of CapitaLand's Urban Suites received good response
Property developer CapitaLand said on Wednesday that Urban Suites, its' high-end development, received good response during its' latest preview sales. Of the 165 units launched during the first phase of the sale, 60 units were released to buyers who were ready to buy at least one unit. According...
Continue Reading • 7 Jan 2010
Luxury home sales remain high
Sales of luxury houses continued to do well at the end of 2009, according to updates from two developers.Malaysia-based YTL Corporation sold six villas for its Kasara project located at Sentosa Cove, with prices ranging from $14 million to $22 million. The selling price was around $1,600 per...
Continue Reading • 7 Jan 2010
Hotel room rates will continue to fall in 2010
The number of visitors in Singapore is expected to rise this year, and so will the number of hotels competing for their share, said CBRE Hotels.The consultancy firm expects the hotel industry to continue facing challenges this year, as room rates and room revenue could fall by 4 percent on an...
Continue Reading • 7 Jan 2010
Sentosa Cove Development records 50% take-up rate
YTL Corporation has officially launched "Kasara - The Lake", which is comprised of 13 luxury villas at Sentosa Cove.Six of the total number of villas previewed were bought by buyers from Singapore, the Asia-Pacific region and Europe, with prices ranging from $14 million to $22...
Continue Reading • 7 Jan 2010
Hotels at Sentosa IR set to open
Resorts World Sentosa (RWS) announced yesterday that it will open the hotels at Sentosa IR on January 20, but those who want to play at the casino or visit Universal Studios Singapore will still have to wait for a while.Announcing the much awaited opening date, RWS said that on January 20, four...
Continue Reading • 6 Jan 2010
Commercial and residential site at Ten Mile Junction up for tender
A commercial and residential site located at the junction of Choa Chua Kang Road and Woodlands Road has just been launched. Analysts expect a strong bid for the first-ever government land sales tender.The Ten Mile Junction shopping mall, which currently sits on the site, will be integrated with...
Continue Reading • 6 Jan 2010
Private home prices rose 7.3% in Q4
Prices of private homes in Singapore jumped 7.3 percent in Q4 last year, compared to a 15.8 percent increase in the third quarter.For the whole of 2009, private home prices climbed 1.7 percent, rebounding from the 4.7 percent slump in 2008, according to estimates by the Urban Redevelopment...
Continue Reading • 5 Jan 2010
Singapore residential market expected to recover this year
2010 will see a recovery of the residential market in Singapore, said Chief Executive Lim Ee Seng of Frasers Centrepoint.“We expected 2009 to be a very bad year for us but it turned out to be a good year,” said Managing Director Lim Yew Soon of EL Development.Dr. Chua Yang Liang,...
Continue Reading • 4 Jan 2010
Property speculators now target the APAC region
The meltdown of US property prices did not affect the enthusiasm of many home buyers in other countries, especially in Asia.Home prices in most parts of Asia-Pacific continue to surge. But solid demand for apartments, houses and villas, coupled with a stimulus package and low interest rates,...
Continue Reading • 4 Jan 2010
Strong private home sales
In June 2009, private home sales remain strong in Singapore. According to the developer of Far East Organisation, they have already sold 74 apartments in their 280-unit Vista Residences during the private preview in the third week of June. The company has also released 88 units at a weekend...
Continue Reading • 31 Dec 2009
Private residential property prices to climb 5-10% in H2: analysts
According to Singapore market observers, prices of private residential properties can increase to an average of 5 to 10 percent during the second half of the year.In the recent months, strong sales have driven up the prices in spite of the economic downturn. Various concerns have been raised over...
Continue Reading • 31 Dec 2009
Increasing sales for newly launched condominiums
Sales in the property market increased its growth as mass and upper-mid-market condominium launched and attracted large crowds of buyers in June 2009 in Singapore.According to a spokesman for developer Hoi Hup Realty, the 68-unit Residences Killiney project has sold 39 out of 60 released units...
Continue Reading • 31 Dec 2009
JLL: slower slide in Grade A office rent
In Singapore, the monthly prime Grade A office rental slide slows down in the second quarter of 2009. According to property consulting group Jones Lang LaSalle (JLL), the monthly average rents of the prime Grade A office drop to $9.50 per square foot (psf) during the 2nd quarter, a 11 percent...
Continue Reading • 31 Dec 2009
Property investment sales increase this quarter
According to CB Richard Ellis (CBRE), investment sales of real estate in Singapore hit $953.9 million in the second quarter of 2009, showing a 248% increase from the first quarter’s $273.8 million.This increase was reached because residential investment sales quadrupled due to the growth in...
Continue Reading • 31 Dec 2009