Mapletree acquires first US serviced apartment asset
Mapletree Investments has acquired The Cascades, a 184-unit freehold apartment complex in Silicon Valley, United States for US$70 million (S$87.3 million). The property in Sunnyvale is nestled on 214,000 sq ft of land and has a gross building area of around 210,000 sq ft spread across six...
Continue Reading • 28 Aug 2014
Sunway named Malaysia's best developer
The recent inaugural South East Asia Property Awards (Malaysia) honoured the best developers, developments and designs in Malaysia’s property sector, according to media reports. Sunway Integrated Properties was among the biggest winners and was named Best Developer. The head of the judging...
Continue Reading • 28 Aug 2014
2015 IKEA Catalogue goes eco-friendly
More than 1.3 million households across Singapore will receive their copy of the 2015 IKEA Catalogue when it gets dropped off at homes from today (28 August). Launched annually, the latest issue has got over 300 pages of interior design ideas and solutions, and is a popular go to guide for...
Continue Reading • 28 Aug 2014
More foreigners turn their backs on S'pore luxury property
The proportion of more expensive private homes priced above the $2 million mark purchased by the top four groups of non-Singaporean buyers fell to 13 percent in H1 2014 compared to 21 percent in the six months before, said DTZ. According to the report, the top groups of non-Singaporeans buying...
Continue Reading • 27 Aug 2014
Singapore investor sentiment hit record high in Q2
Singapore investor sentiment climbed to its highest level in Q2 2014 since Q1 2013, on the back of a more positive view of the property, fixed income as well as mutual fund sectors, according to the Manulife Investor Sentiment Index as reported in the media. Notably, investor sentiment rose by...
Continue Reading • 27 Aug 2014
Tanglin Halt resale market heats up
Following HDB's announcement in June that Tanglin Halt will be redeveloped under the Selective En bloc Redevelopment Scheme (SERS), several flats in the estate have entered the market commanding premium prices, according to media reports. For instance, PropNex agent Andy Azaly Suboh has been...
Continue Reading • 27 Aug 2014
Converting heat to cool a building
A new Combined Heat and Power (CHP) pilot plant has been commissioned to harness waste heat and convert it to energy to power air-conditioning. The plant is funded by the A*STAR-Ministry of National Development (MND) Green Building Joint Grant call, with Building and Construction Authority...
Continue Reading • 27 Aug 2014
Community gardens a blooming success
The community gardening initiative by the National Parks Board (NParks) to help green Singapore’s physical landscape has made good progress, close to ten years after it was introduced. Most recently, National Development Minister Khaw Boon Wan visited the Community in Bloom garden at Bukit...
Continue Reading • 27 Aug 2014
Tanah Merah MRT station to be enhanced starting 2016
A new platform will be added to the Tanah Merah MRT station to help commuters travelling towards Expo and Changi Airport. With a third platform, there will be two tracks for the East-West Line and another two, heading to and from Changi Airport. With this, trains are expected to arrive and...
Continue Reading • 26 Aug 2014
HDB upgraders dominate condo sales, first time since 2012
Demand among HDB upgraders for non-landed private homes has risen slightly, with the proportion of buyers with public housing addresses increasing by three percentage points to 52 percent (1,842 units) in Q2 2014 from the previous quarter, revealed DTZ. Comparatively, buyers with private...
Continue Reading • 26 Aug 2014
S'pore land prices flat amid strong headwinds
Land prices across major Asian cities grew at a slower pace in the first six months of 2014, advancing by 4.9 and 2.9 percent for office and residential sites respectively, compared to 9.8 and 7.7 percent during the same period last year, according to Knight Frank.
Continue Reading • 26 Aug 2014
Singaporeans overtake share of private home purchases
The share of private home purchases by Singaporeans increased to 74 percent in Q2 2014, according to a DTZ report, after falling for three consecutive quarters. Q1 2014 saw their share of private home purchases fell to 70 percent, the lowest ratio since Q4 2011. “As the share of private home...
Continue Reading • 26 Aug 2014
Activity in GCB market picks up
Following a quiet second quarter, Singapore’s Good Class Bungalow (GCB) market has seen some activity this quarter with at least five transactions, reported the media. Of these, the $35 million sale of an old bungalow located along Ridout Road was the biggest transaction. The price translates...
Continue Reading • 26 Aug 2014
Housing sector drags inflation down in July
Singapore's inflation dipped to 1.2 percent in July from 1.8 percent in the previous month on a year-on-year (y-o-y) basis. Core inflation climbed to 2.2 percent from 2.1 percent in June, lower than Barclays' forecast of 2.3 percent. “The main cause of the decline in headline inflation was...
Continue Reading • 26 Aug 2014
Empty homes on the rise in S'pore
The number of vacant private homes in Singapore is steadily rising, climbing 10.3 percent to 21,268 units in Q2 2014 from 19,284 units in the previous quarter, revealed a Savills report. Notably, the vacancy rate rose to 7.1 percent from 6.6 percent in Q1. The greater number of empty units...
Continue Reading • 25 Aug 2014
New MRT stations to push up prices in East Coast
The recent unveiling of the names and locations of nine MRT stations on the future Thomson-East Coast Line (TEL) is expected to improve rentals of existing and new residential developments along the East Coast, in turn leading to potential capital growth, revealed an OrangeTee report.
Continue Reading • 25 Aug 2014
More than half of 2-room BTO flats sold to singles
Out of more than 5,200 two-room Build-To-Order (BTO) flats in non-mature estates available, 2,765 units have been bought by singles since they were allowed to buy such properties directly from HDB last year, said media reports. This surpasses the 1,550 units allocated for this group. These...
Continue Reading • 25 Aug 2014
Seniors worry about outliving lease
The Pioneer Generation Joint Committee could look into the Lease Buyback Scheme in order to fine-tune this monetisation option and provide more clarity on its rules, according to media reports. Under the scheme, seniors may sell the lease of their HDB flat to the government, while keeping the...
Continue Reading • 25 Aug 2014
GuocoLand appoints new MD for Singapore
Cheng Hsing Yao was appointed Managing Director of GuocoLand Group's Singapore property division earlier this month. With more than 16 years of experience in real-estate, urban planning and architecture, Cheng is now responsible for the company’s operations and management. He was previously...
Continue Reading • 25 Aug 2014
New MND arm for municipal services from October
The Municipal Services Office (MSO) will be set up on 1 October 2014 to improve the government’s overall coordination and delivery of municipal services. The office will be part of the Ministry of National Development (MND), and, Minister at Prime Minister’s Office and Second Minister for the...
Continue Reading • 25 Aug 2014