Industrial site near Tai Seng MRT up for sale
A freehold industrial redevelopment site at Kim Chuan Drive (pictured) has been put up for sale by tender with an indicative price of around S$44 million to S$46 million, said joint marketing agents Colliers International and Jones Lang LaSalle.The price translates to about S$506 to S$529 psf...
Continue Reading • 7 Jan 2014
Private home resale prices continued to soften in Q4 2013
Resale private home prices remained sticky in the first half of last year despite the implementation of a higher ABSD rate and stricter financing conditions in January 2013, a DTZ report revealed. However, the introduction of the TDSR framework in June softened the growth of resale prices...
Continue Reading • 6 Jan 2014
Prime office segment ends year on bright note
Singapore’s office property market ended 2013 on a firm footing with rents, occupational rates and capital values on the uptrend, said a report from Colliers International. As of December, average monthly gross rents of premium and Grade A office space in the CBD increased 2.2 percent...
Continue Reading • 3 Jan 2014
Property auction sales maintain tepid pace
Singapore’s property auction market saw a total of S$3.9 million in sales closed in Q4 2013, down 15.1 percent in quarterly sales value from the previous quarter's S$4.6 million, revealed a Jones Lang LaSalle report. Nonetheless, the number of properties sold during auction rose...
Continue Reading • 3 Jan 2014
Industrial property market likely to be subdued this year
The industrial property market is expected to be subdued this year following a fairly eventful 2013, a media report said quoting market watchers.Notably, the cooling measures introduced last year were more aligned towards end users.“Generally there were some measures introduced by the...
Continue Reading • 2 Jan 2014
Suburban home prices fall for first time since 2009
Private residential property prices fell 0.8 percent in the fourth quarter of 2013, compared to a 0.4 percent increase in the previous quarter, revealed flash estimates of the URA price index.In the Core Central Region (CCR), prices decreased 2.2 percent, which is significantly larger than the...
Continue Reading • 2 Jan 2014
Resale private home prices up in Nov
Led by private homes in the central region, resale prices increased by 0.1 percent last month compared to the revised 0.8 percent dip in October, revealed flash estimates of the NUS Residential Price Index (SRPI) which was reported in the media. Prices of resale units in the central region...
Continue Reading • 31 Dec 2013
Global property markets to hit seven-year high in 2014: report
The global property investment market is gaining momentum, with volumes expected to rise 10 to 15 percent in 2014 and back above US$1 trillion for the first time in seven years, according to a Cushman & Wakefield report.This comes after an estimated 8.4 percent increase saw investment sales...
Continue Reading • 30 Dec 2013
Tough times for Singapore's property agents
The slew of property cooling measures introduced by the government has made life very difficult for real estate agents, a recent media report revealed. “Before they (buyers) came to us, now we have to follow them. And we need more patience now, because they take longer to decide,”...
Continue Reading • 30 Dec 2013
JTC offers 4 industrial sites for sale
Four industrial sites were released for sale by public tender last Friday, according to JTC. Launched under the confirmed list of the Government Land Sales (GLS) Programme, the sites are located at Tuas South Street 6 (Plot 6), Tuas South Street 11 (Plot 35) and Tuas South Street 13 (Plots 34 and...
Continue Reading • 30 Dec 2013
Prime retail rents in Orchard Road down 2.1%
Rents of prime retail space at Orchard Road fell 2.1 percent year-on-year, a better than expected performance from the three to five percent decline forecasted at the start of 2013, according to a report from Colliers International. In the regional centres, rents of prime retail space inched up...
Continue Reading • 27 Dec 2013
Takenaka Corp wins $985m contract to build T4
Changi Airport Group (CAG) has awarded a S$985 million contract to Takenaka Corporation for the construction of Changi Airport's Terminal 4 (T4). Construction is expected to start in Q1 2014, and set to be completed in 2017. It will involve the development of a new passenger terminal with a...
Continue Reading • 27 Dec 2013
Unexpected jump in new home sales
Sales of new private homes picked up in November with developers selling 1,228 units, according to data released on Monday by the Urban Redevelopment Authority (URA). This is a jump of about 18 percent from the month of October. Including executive condominiums (ECs) which are a public-private...
Continue Reading • 24 Dec 2013
Developers making overseas push as cooling measures bite
Mid-tier developers from Singapore are laying the foundations of their overseas business as land prices rise and domestic sales plunge, while foreign rivals are betting high stakes on the long term prosperity of the city-state, media reports said. Following CapitaLand’s lead, Oxley Holdings...
Continue Reading • 23 Dec 2013
Perennial acquires Somerset property for $970m
The 17-storey TripleOne Somerset located near Somerset MRT station has been acquired by a consortium led by Perennial Real Estate Holdings for S$970 million, revealed media reports.Brokered by Jones Lang LaSalle and CBRE, the sale is S$10 million lower than the S$980 million that Perennial,...
Continue Reading • 23 Dec 2013
Asia to benefit after Fed taper move
Asia’s real estate markets are expected to see positive implications following the US Federal Reserve's announcement that it will reduce monthly acquisitions of mortgage-backed and treasury securities from US$85 billion to US$75 billion starting in January 2014, revealed CBRE Research.The...
Continue Reading • 23 Dec 2013
Property prices expected to decline by 30%
Analysts expect property prices in Singapore to decline by as much as 30 percent next year, due to the new measures implemented by the government to rein in the market.The move could lead to a chilling replay of what occurred during the global financial crisis in 2008 and 2009, when home prices...
Continue Reading • 20 Dec 2013
Property auction sales values fell in 2013
The Singapore property auction market sold 19 properties out of 488 properties put up by all auction houses in 2013. This is a decline of 20.8 percent from last year's 24 properties sold, according to a report by Colliers International.Despite the decline in volume, total sale value chalked up in...
Continue Reading • 19 Dec 2013
Property auction sales values fell in 2013
The Singapore property auction market sold 19 properties out of 488 properties put up by all auction houses in 2013. This is a decline of 20.8 percent from last year's 24 properties sold, according to a report by Colliers International.Despite the decline in volume, total sale value chalked up in...
Continue Reading • 19 Dec 2013
New home sales to moderate next year, says Maybank
The property sector is expected to moderate in 2014, with new home sales moderating to 13,000 to 14,000 units, or down from the “estimated ~16,000 units to be sold in 2013”, according to Maybank Kim Eng.Following almost four years of continued increase, residential prices are expected...
Continue Reading • 18 Dec 2013