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
S'pore firm to build mega project in Danga Bay
Singapore-based Hao Yuan Investment has acquired six parcels of waterfront land in Danga Bay, Johor for RM1.6 billion from Iskandar Waterfront Holdings (IWH), media reports said.The developer revealed that it will build an RM8 billion mixed-use development on the site over a period of eight...
Continue Reading • 27 Dec 2013
Housing policies are showing results, Khaw says
The new housing policies are showing results, revealed National Development Minister Khaw Boon Wan on Thursday.In a blog post, Mr Khaw said ramping up the construction of new flats, introducing the Parenthood Priority Scheme (PPS) and the Parenthood Provisional Housing Scheme (PPHS) are meant to...
Continue Reading • 26 Dec 2013
GIC acquires 50% stake in London complex
Singapore’s sovereign wealth fund GIC has acquired Blackstone’s entire 50 percent interest in London’s Broadgate office complex for more than £1.7 billion (S$3.5 billion), making this its largest property foray in Europe, media reports said. In a statement, GIC and British...
Continue Reading • 26 Dec 2013
Cooling measures is right thing to do: Khaw
In a Facebook post on Monday that was reported in the media, National Development Minister Khaw Boon Wan said that the government cannot completely eliminate the property cycle, but it can restrict the formation of a property bubble. Referring to a recent New York Times article about the rise and...
Continue Reading • 24 Dec 2013
Cambridge buying Bukit Merah facility
Cambridge Industrial Trust Management (CITM) is in the process of acquiring a purpose-built warehouse cum light industrial building at Bukit Merah Industrial Estate, according to media reports.CITM announced on Monday that the six-storey facility along Hoy Fatt Road is being purchased for S$32...
Continue Reading • 24 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
Singapore's ARA about to enter South Korea
If all goes to plan, Singapore-based ARA Asset Management will soon enter the real estate market of Asia’s fourth largest economy, media reports said.The property fund management firm announced that it has secured conditional agreement for the purchase of South Korea’s Macquarie Real...
Continue Reading • 24 Dec 2013
A reversal of tides for Iskandar
Johor, once regarded by Singaporeans as a backwater haven for car thieves, is now considered a property investment hotspot and a beacon of cooperation between two former rivals – Malaysia and Singapore.In fact, mega projects are sprouting across the Iskandar region and include the towering...
Continue Reading • 23 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
CAG, CapitaMalls Asia to develop Changi's Project Jewel
Changi Airport Group (CAG) and CapitaMalls Asia, through their respective wholly-owned subsidiaries Jewel Changi Airport Holdings and CMA Singapore Investments, announced today their joint venture (JV) agreement to develop an iconic mixed-use development at Changi Airport, codenamed...
Continue Reading • 20 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