EcoHouse plays catch-up, stops selling in Singapore
EXCLUSIVE: EcoHouse, the developer responsible for what was arguably Singapore’s top-selling overseas investment in 2012, has stopped selling its Brazilian property investments in Singapore.The reason for the halt in sales, according to a spokesperson for the company speaking to...
Continue Reading • 9 Jan 2014
Long House sold for $45 million
Knight Frank Singapore has reported the sale of Long House Food Centre at Upper Thomson Road to TEE Ventures, a subsidiary of TEE Land, for S$45.2 million.The popular food court has a land area of 1,575.6 sq m (approx. 16,960 sq ft). Under the 2008 Master Plan, the freehold site is designated as...
Continue Reading • 8 Jan 2014
Westwood Ave EC site draws 12 bids
An executive condominium site at Westwood Avenue (pictured) has received strong interest from developers, attracting a total of 12 bids when the tender exercise closed on Tuesday, said the HDB. The top bid of S$198.9 million was submitted by Changi Properties and Heeton Homes. This translates to...
Continue Reading • 7 Jan 2014
4 reasons why 2014 could be a turbulent year for Singapore property
Based on the latest URA private property price index (PPPI) flash estimates, we know that the PPPI, which represents the overall real estate price trend, dipped in Q4 2013. This is the first dip the market has seen in the last two years.At present, there are numerous views that the real estate...
Continue Reading • 7 Jan 2014
Office market is getting stronger: report
The Singapore office market is showing signs of recovery post rental corrections that started in Q1 2012 as reflected in data for Q4 2013, revealed a CBRE report.Over the last few quarters, decentralised market activity has been fairly strong as evidenced by the high pre-commitment levels...
Continue Reading • 7 Jan 2014
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
Frasers targets overseas expansion
Fraser & Neave's property arm, Frasers Centrepoint (FCL), has announced plans to expand in China, Australia and Thailand, media reports said.This comes ahead of FCL's scheduled listing on the Singapore exchange on Thursday. CIMB expects FCL's market capitalisation to stand at S$5.3 billion,...
Continue Reading • 6 Jan 2014
CapitaLand group to sell Westgate Tower for $579.4m
CapitaLand, CapitaMalls Asia and CapitaMall Trust have signed an agreement to sell Westgate Tower (pictured) to a consortium comprising Low Keng Huat (Singapore) and Sun Venture Homes for S$579.4 million. Located in Jurong Gateway, the 20-storey Westgate Tower is the office component of the...
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
Singapore's Q4 GDP grew 4.4%
Singapore's economy grew by 4.4 percent on a year-on-year basis in Q4 2013 compared to 5.9 percent in the previous quarter, revealed advance estimates from the Ministry of Trade and Industry (MTI). On a quarter-on-quarter seasonally-adjusted basis, the economy contracted by 2.7 percent, a...
Continue Reading • 3 Jan 2014
Singapore jeweller buys Melbourne property for S$46.5m
Singapore-based jewellery group Aspial Corporation has made its first major foray into the overseas property market with the acquisition of 383 King Street in Melbourne (pictured) from MWM Australia for A$41.5 million (S$46.5 million). Strategically located directly opposite Flagstaff...
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
S'pore developers suffer worst performance in 2013
After posting the highest gains in 2012, Singapore’s developers recorded the worst performance on the Straits Times Index in 2013 as property cooling measures slowed price gains and pushed down home sales, media reports said. Ranked the most expensive city to purchase luxury homes in Asia...
Continue Reading • 2 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
PM Lee's 2014 New Year message forecasts strong economic growth
The Singapore economy grew 3.7 percent in 2013, better than initially expected, revealed Prime Minister Lee Hsien Loong in his New Year message. This year, he said the economy is expected to grow by two to four percent.He added that while the country encountered a few rough spots in 2013,...
Continue Reading • 2 Jan 2014
PropertyGuru's Property Outlook H1 2014
2013 was a pivotal year for the Singaporean property market, displaying a characteristic relationship between declining transaction volumes and, later, price declines. The cooling measures had their intended effect of reducing demand – slowing activity and transaction volumes, then slowly...
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
Singapore's Westin hotel sold for US$369m
The Westin hotel in Singapore’s new central business district has been sold by BlackRock’s Asia Property Fund III to Tokyo-based Daisho Group for a stunning US$369 million, media reports said. The deal takes place just one month after the 305-room hotel opened at Asia Square Tower 2....
Continue Reading • 31 Dec 2013