Rental activity picks up in Singapore office market
The Singapore office market continues to pursue for quality leasing services as tenants begin to seek for newer office buildings. Over 90,000 sq ft has been leased to six tenants at the classy 20-storey office tower 20 Anson, which acquired its temporary Occupation Permit (TOP) earlier this...
Continue Reading • 23 Oct 2009
The Parisian at Angullia Park sold for $283m
The biggest private residential land sale in two years.The freehold site has a site area of 49,113 sq. ft. It has a planning approval for a 36-storey development comprising 52 three and four bedroom units and two penthouses.OUE bought The Parisian in a collective sale for $228.1 million in...
Continue Reading • 23 Oct 2009
Real property big guns surge
Yesterday, as the unusual share market rally remained in high level, banks gave way to property counters. Big guns of the property sector went sky-high and aided the market to increase by nearly 63 points up to 2,241.6.The figures from two high-flyers were very surprising. Late last month, Keppel...
Continue Reading • 22 Oct 2009
Faster property market recovery expected
An economic downturn is a tough one to predict. Recent example was the March 9 index result. The world seemed to be a bleak place to live as shown in the following scenario – everyone is suffering from a prolonged depression; the banks are falling; most of the companies announced their...
Continue Reading • 22 Oct 2009
Tenants seek rebate too
Five months after the government announced to shell out property tax rebates, owner of 78 Shenton Way office building has yet to decide if they would distribute the benefits to its tenants.The silence is increasing the hackles of the tenants that they wished that the government will start to...
Continue Reading • 22 Oct 2009
New project sells its first 80 units
Kheng Leong and UOL Group sold no less than 80 units the previous day, during their first-day preview of their new project, Double Bay Residences in Simei, as stated by the companies.Liam Wee Sin, UOL group chief operating officer, said that the 99-year leasehold project consisting of 646-unit...
Continue Reading • 22 Oct 2009
Rise in Q1‘s property auction sales
The first quarter of the current year saw some $18m worth of properties being transacted at auctions, up by three times in the previous quarter which had $5.4m and also managed to exceed the $9.5m in the first quarter of 2008.While there is a rise of 17.8 percent quarter on quarter to 53 in the...
Continue Reading • 22 Oct 2009
Potential drop in Orchard prime rents
The step to convert premier shopping strip in Singapore with three extravagant new malls suggests higher rents back in ordinary times. However, prime rents in Orchard Road are likely to plunge deeper by 15–20 percent in the final months of 2009, according to the newest property industry...
Continue Reading • 22 Oct 2009
Highest gains in sub-sale deals
The highest sub-sales deals for the previous year is attributed to The Sail @ Marina Bay, generating the top gain, both in percentage and in absolute terms, as shown by Savills Singapore’s caveats analysis.In total dollar terms, the 99-year leasehold project’s unit on top of the 60th...
Continue Reading • 22 Oct 2009
15 percent rent rebate for Sentosa tenants
Yesterday, a 15-percent rent rebate was announced to be given by Sentosa Development Corporation to its tenants.This move will be benefiting 47 tenants, who are managing beach pubs, attractions, retail outlets, food and beverage, as well as other businesses, like bicycle hire kiosks. It will be...
Continue Reading • 22 Oct 2009
Korean family cheated by their agent
Earlier this month, 46-year-old Kim Ae Ran made a painful decision by ceasing her daughter's education in Singapore and go back home to Korea, despite the fact that her spouse’s construction business there isn’t going well.Mrs. Kim had decided to leave her 17-year-old son here and...
Continue Reading • 22 Oct 2009
Condo launches targeted by flipping
The recent sale-out sale of the newly opened condo Alexis @ Alexandra was swarmed not just by buyers but speculators as well, being able to sell all of the 293 units. The 712-unit Caspian in Jurong, meanwhile, managed to sell about 515 units almost simultaneously.Both of these launches were...
Continue Reading • 22 Oct 2009
Landlords to pass rebates to tenants
Yesterday, landlords’ Lend Lease and Mapletree, who own and run four shopping malls, announced that they would have their government property tax rebate passed to their tenants.The tax rebate of 40 percent, for owners of commercial and industrial properties, is included in the Resilience...
Continue Reading • 22 Oct 2009
Commercial rents affected by economic slowdown
After steady increases for over four years, prices and rents of industrial spaces were now affected by the economic slowdown, dropping by 6.5 percent and 3.7 percent in Q3 and Q4 of 2008, respectively.The office space sector also weakened steadily, with prices and rents plunging 4.9 percent and...
Continue Reading • 22 Oct 2009
Apartments for rent in Vietnam unscathed
The segment of serviced apartments remains untouched by woes of the property market, with high demand of apartments for rent in major cities despite the economic downturn, according to a report of Vietnam News Agency.A representative of the Ascott International Management Vietnam said that over...
Continue Reading • 22 Oct 2009
MAS New Year’s gift for REITs
The Monetary Authority of Singapore (MAS) have given Real Estate Investment Trust (REIT) managers wider borrowing limits, as MAS cleared how the property’s downward revaluations should be treated.MAS said that there is no need for REITs to worry if there is an increase in their leverage due...
Continue Reading • 22 Oct 2009
UIC gains, SingLand shares jump
United Industrial Corp (UIC) shares jumped to as high as 15 percent, after the UOL Group announced to take over shares at $1.20 per share, positioning itself near UIC’s controllership.UIC’s stocks went soaring, when investors started to purchase stocks amid analysis that a counter-bid...
Continue Reading • 22 Oct 2009
Developer shares measure new depths
Last year is not a good year to remember for developers. Having only sold 4,351 residences in 2008, it signified the least figure within 10 years – plunging beyond the recent depression of 5,520 and 5,156 units in 1998 and 2003, respectively.The 2008 sales of 8,200 houses were also notably...
Continue Reading • 22 Oct 2009
More than 300 Caspian units sold
Yesterday, Frasers Centrepoint continued to accumulate stable sales at its Caspian condominium even after it increased prices by nearly $20 per square foot, or approximately 3.5 percent. It sold more than 100 condo units yesterday, and last night, its total sales marked 300 units – a...
Continue Reading • 22 Oct 2009
High Court ruled ERA agents guilty
The High Court laid down its decision on two ERA agents, who are found guilty of using the Agency’s name to trick a couple.Mister Yuen Chow Hin and Wong Wai Fan are about to receive $257,000 from the agents, who had transacted business in an unethical manner. Justice Choo Han Teck...
Continue Reading • 22 Oct 2009