Fresh Demand for property and transport shares
Trading in the Singapore bourse was considered flat yesterday. The Straits Times Index (STI) fell at 1,795.47, down by 3.48 points or 19 percent. During the week it increased by 3.17 percent or 55.13 points.Compared to last week’s 1.13 billion shares worth $997 million, the volume traded...
Continue Reading • 20 Oct 2009
Auction Market Slows Down
There is less action in the auction property market this year. Figures showed that in 2008, there were 852 properties for auction compared to 1,302 in 2007 or down by 35 percent.This amounts to a transaction of $69.1 million worth of properties, (excluding the final two auctions of the year) or...
Continue Reading • 20 Oct 2009
Capella Singapor to Open in March 2009
Capella Singapore, designed by the Norman Foster, the famous British architect, is set to open in March 2009. It will be run by the West Paces Hotel Group of Atlanta. Costing some $400 million about six years in the making, Capella Singapore is the first property in Asia to be managed by the West...
Continue Reading • 20 Oct 2009
Laguna Park owners to sell at cheaper price
Unit owners in Laguna Park, whose tender unsuccessfully closed last Friday, have now considered selling at a cheaper price, ranging from S$950 million to S$1 billion. According to Credo, the marketing agent of the development, the residents are likely to obtain letter of advice about the...
Continue Reading • 19 Oct 2009
Stronger deals for Singapore luxury apartments
As a more positive mood spread to the higher realm of the private residential market, deals for Singapore luxury apartments picked up in Q2 and Q3 of 2009.From a low of 15 deals in Q1 of 2009, the figure of apartments priced more than $4 million rapidly increased to 87 in the second quarter and...
Continue Reading • 16 Oct 2009
Constant recovery seen in Singapore investor sentiment
In the third quarter of 2009, Singapore investor sentiment continued to see recovery.Across Asia, the highest increase in investor sentiment was seen in the Singapore ING Investment Dashboard Sentiment Index. From Q2, the figure jumped 24 percent within the three months to September.In Q3 from...
Continue Reading • 16 Oct 2009
Positive growth of office rentals expected in 2010
DTZ, the global real estate consultancy firm, has decided to upgrade its outlook, especially for the office property sector.At this point, the firm expects that rentals of office spaces will return to positive growth for 2010 as the outlook for the improving economy feeds through.However, DTZ...
Continue Reading • 16 Oct 2009
Uncompleted private homes’ sales fall in September
For the second time, the uncompleted private homes’ sales took another fall in September after hitting the high record of 2,772 units sold last July.Last month, a total of 1,143 units were sold, which is a 36.6 percent drop in sales from August. According to market watchers, this activity...
Continue Reading • 16 Oct 2009
Long-term sustainability for private property market
The private property market appears to be stabilizing further with a recorded 1,143 sales for the month of September 2009, based on URA’s latest release.“The second drop in two months,” says PropNex CEO Mohamed Ismail, referring to August’s and September’s 39% and...
Continue Reading • 15 Oct 2009
'Shoebox' apartments might drop under URA
In Singapore, the newest type of ‘shoebox’ flats may have captivated the property enthusiasts’ thoughts; however they are not anticipated to intrude the housing landscape. Some of them may not even have the approval of the planning authority, if latest conclusions are anything...
Continue Reading • 15 Oct 2009
Stricter rules to regulate property agents
The Singapore government has proposed new initiatives to control property agents in the country. Such means include enforcing the rules more keenly and monitoring their activities more closely. A new government agency will be created to employ the improved regulatory powers.This new accreditation...
Continue Reading • 15 Oct 2009
Singapore, 10th most costly office location
In Singapore, the total cost of annual occupancy per workstation slipped 3 percent year-on-year to US$16,540 according to DTZ global ranking for 2009.This was an outcome of the decline in office leases. According to Chua Chor Hoon, senior director of DTZ Singapore, “Prime office rents in...
Continue Reading • 14 Oct 2009
Sales increase: a big surprise
The housing market in the United States, which started the financial breakdown, finally appeared to turn the recession a month ago.After noting low records in January, property sales increased unexpectedly and additional building permits were released as well, a sign of an upcoming increase in...
Continue Reading • 14 Oct 2009
What happens during Earth Hour?
Tonight at 8:30 p.m., corporate and individuals in Singapore will switch off their lights to mark Earth Hour. WWF Singapore will be the one to organise the event. More than 500 agencies and institutions in the country will participate on the said event by turning off their lights as a form of...
Continue Reading • 14 Oct 2009
Keppel pushed by CEO to fight-fit
The chief executive officer of KEPPEL Corp, Choo Chiau Beng, made it clear that his quick mission in his first yearly report as CEO is to push the company out of the financial downturn in a fighting-fit position.“My top priority is to make Keppel fighting-fit by becoming leaner and...
Continue Reading • 14 Oct 2009
Convenience charged with premium at Resorts World
Premium will be charge to guests for an overnight stay in hotels at Sentosa’s Resorts World when it launches next year.Tan Hee Teck, chief executive officer of Resorts World, said yesterday that hotels in most theme parks abroad typically have higher rates, compared to the same properties...
Continue Reading • 14 Oct 2009
Possible pitfalls for a residential loan
If one is in search for a property to buy, the buyer must be cautious of the possible pitfalls as well as those associated to acquiring a residential loan.Previously, most residential buyers would disburse the 1 percent option in order to make sure of the property before finding for a residential...
Continue Reading • 14 Oct 2009
Youcan’s plan to purchase factory site
Yesterday, shareholders had rejected an offer by the Youcan Foods International’s chief executive officer to vend the new factory’s development rights and land use, which he held a substantial share to the subsidiary of the ice cream maker.Youcan, a Chinese company included in...
Continue Reading • 14 Oct 2009
Singapore’s DC rate affects greenery project
The new incentives launched to support Singapore’s green building project affects the formula for development charges (DC) calculation.The Urban Redevelopment Authority and Building and Construction Authority offer a 1% bonus Gross Floor Area (GFA) for the total GFA covered at 2,500 square...
Continue Reading • 14 Oct 2009
New properties boost MapletreeLog's Q1 income
With extra contributions of nine properties acquired for the past years, the Mapletree Logistics Trust (MapletreeLog) ended up with 36.1 percent distributable income to $28.6 million from the first quarter this year.However, due to the enlarged unit base, the distribution per unit (DPU) dropped...
Continue Reading • 14 Oct 2009