Prime rents poised to ease further
JLL sees more falls over next half year but rest of market should stay stable THE surging rents in prime areas that have had expatriates screaming for the best part of a year look to be easing, with some condos already registering falls of up to 12 per cent. The declines are expected to intensify … Read more
Simon says: Home prices have hit floor
Head of property developer SC Global still bullish on the local real estate market JUDGING from recent transactions, property prices appear to have hit or are near the floor, according to Mr Simon Cheong, the president of the Real Estate Developers’ Association of Singapore (Redas). As evidence, Mr Cheong, the head of high-end property developer … Read more
Home price rebound could take time
Continued weakness comes amid caution caused by inflation and bleak outlook RECENT developments in the local property market have sent conflicting signals to investors. Several developers have indicated willingness to delay launches as residential property prices show signs of weakness, while others are pointing to still-strong demand. Meanwhile, market data from the Urban Redevelopment Authority … Read more
Bay window loophole slammed shut by URA
Developers will now have to include planter boxes, bay windows in GFA Here’s some bad news for developers: a loophole that helped them sell in excess of the gross floor area (GFA) has been plugged. Till now, bay windows and planter boxes, which often make up around 5 per cent of a condo’s saleable area, … Read more
Investment sales fall in Q2 but foreign funds still looking
Residential sector continued to soften, contributing 13% to the total PROPERTY investment sales in Q2 2008 saw a significant decline due to increasing cautiousness from investors and tightening of credit. In a report, DTZ Research also noted that in the quarter, total transactions fell 37 per cent quarter-on-quarter (QOQ) to about $5.2 billion. Total sales … Read more
Goldhill Centre up for tender
AFTER 13 years in the making, the collective sale of Goldhill Centre – a three- storey walk-up building of shop and office units next to Goldhill Plaza and United Square in the Novena area – has finally been put up for tender. The asking price is $315 million, which works out to $1,496 per square … Read more
SingPost HQ up for sale with $850m tag
Terms of any leaseback deal could determine price it fetches: observers THE buzz created by recently unveiled plans to develop the Paya Lebar area into a commercial hub may get a boost from Singapore Post’s planned sale of its landmark headquarters building next to Paya Lebar MRT Station. BT understands the listed group has launched … Read more
Chinese developers may win relief from falling prices: ING
Home prices rose 9.2 per cent in May, the slowest in eight months Real estate developers in China may win relief from a shift in government policy towards stabilising property prices instead of depressing them, according to an analyst at ING Groep NV. The People’s Bank of China and government ministries held talks on stabilising … Read more
Dubai property prices may fall when projects are completed
There will be an oversupply of Dubai property leading to a fall in prices if current planned projects are delivered on time, Fitch Ratings Ltd said. There is a ‘prospect of oversupply if current delivery plans are met, and the risk of being unable to stimulate demand in view of massive development projects in the … Read more
Hang Lung’s China revenue to surpass HK’s
Hang Lung Properties Ltd, Hong Kong’s fourth-largest developer by market value, said rental income from China will surpass that from Hong Kong in three years as it invests in retail projects. The company has bought eight of 18 sites it had planned to buy for retail projects by the end of 2009, betting on growth … Read more
