Property consultants say muted property market situation is temporary
Investors have been cautious about the property sector amid expectations that the muted residential property market will weaken further. But some property consultants are taking a slightly more positive stance, saying that this situation is temporary. Transaction volumes for private homes have been thin with developers holding back launches or cutting prices. And there’s been … Read more
Ho Chi Minh City overtakes S’pore as having world’s fastest growth in office rentals
Vietnam’s Ho Chi Minh City has overtaken Singapore as having the world’s fastest growth in office occupancy cost. The cost of renting office space in Ho Chi Minh City grew 94 percent in the last six months, according to a global survey by consultants CB Richard Ellis. Moscow was second at 93 percent, while Singapore … Read more
Cityspring Infrastructure Trust to pay 1.6 cents per unit for Q4
Cityspring Infrastructure Trust said it is paying out 1.6 Singapore cents per unit in its fourth quarter. This is 6.7 per cent higher than the figure projected during its initial public offering in February 2007. The trustee manager reported a smaller fourth quarter loss of S$11.7 million, compared with a projected loss of S$18.7 million. … Read more
Boustead Singapore’s FY2008 profit up 46% to S$51.5m
Infrastructure company, Boustead Singapore, said its FY2008 net profit rose 46 percent to S$51.5 million, while its revenue rose about 28 percent to S$438 million – the sixth straight year of record profits and revenues. Boustead said its better showing was due to the buoyant environment and strong global demand for infrastructure projects in developing … Read more
Nassim condo turns in surprisingly good sales
A LUXURY condominium in the posh Nassim area has turned in surprisingly good preview sales, even as property analysts are predicting a sharp slowdown in the high-end home segment. Buyers have taken up 38 units at Nassim Park Residences, forking out a whopping $10 million or more for each apartment, sources said. The 100-unit development, … Read more
Mid-tier, upscale hotels faring best: STB figures
MID-TIER and upscale hotels have fared best among different types of hotels in the current tourism boom. The Singapore Tourism Board (STB), releasing the latest tourism statistics here, has grouped the hotels into four classes and released figures on their performance for the first time. The four are: Luxury hotels: those in prime locations or … Read more
Give singles a shot at rejected flats
THE Housing and Development Board (HDB) should be stricter on frivolous applicants for its new flats (‘HDB targets frivolous applicants”, last Friday). The HDB should also allow singles over 35 years of age to apply for flats rejected by successful applicants. Single Singaporeans will probably not be as fussy as the others. Currently, singles are … Read more
New flats under stricter rules in hot demand
DEMAND has been strong for the latest batch of Housing Board (HDB) flats – despite new rules designed to prevent frivolous applications. As at 5pm yesterday, 2,397 applications had poured in for the 1,485 premium flats launched by HDB just last Thursday. Housing experts say demand looks likely to stay healthy, although the total number … Read more
Parkway Life to acquire nursing homes in Japan
A MONTH after making its maiden foray in Japan, Parkway Life Reit has agreed to buy another two properties there for a total of 2.62 billion yen (S$34.3 million). The target acquisitions are a nursing home in Yokohama City and another in Osaka’s Ibaraki City. Both are owned by vendor ZECS Community Co, which has … Read more
Govt rolls out two industrial sites
THE government continues to roll out new sites for sale against the backdrop of a quieter market. The latest to be offered are two industrial sites – a confirmed list plot in Woodlands with Business 2 zoning being launched for tender, and a smallish plot at Kallang Pudding Road for Business 1 use that is now … Read more
