Reserve-list hotel site at Bt Chermin now open for application
Urban Redevelopment Authority on Thursday released for application through the reserve list a hotel site at Bukit Chermin. The 3-hectare site is being offered on a 60-year leasehold tenure. ‘The release of the site at Bukit Chermin for a distinctive lifestyle hotel development will contribute to and further enhance the attractiveness of the Southern Waterfront … Read more
Redas urges 3-way plan to boost confidence
Real Estate Developers Association of Singapore (Redas) president Simon Cheong called last night for a three-way action plan involving developers, financiers and the government to shore up confidence in the property market. The plan would involve moderating new supply, supporting demand and introducing fiscal measures to help ease funding for the industry, Mr Cheong said. … Read more
Mah sees softening of property prices
Future movements will depend on how industry adjusts to conditions PROPERTY prices will inevitably soften and demand will weaken amid slower economic growth, National Development Minister Mah Bow Tan said yesterday. Private housing prices fell 2.4 per cent in the third quarter, and further price movements will ‘depend on the severity of the economic slowdown’. … Read more
Limits to what govt can do, says Mah
It cannot dictate to banks on loans or work against market forces on property National Development Minister Mah Bow Tan told developers yesterday ‘there are limits to what the Government can and should do’ to ensure the long-term stability and smooth functioning of the property market. ‘For instance, we cannot dictate to banks that they … Read more
Occupancy costs fall in S’pore: CBRE
But survey finds Republic is world’s 9th most expensive office market THE republic is still one of the most expensive places in the world to do business in, even though office occupancy costs here have dropped, the latest survey by CB Richard Ellis (CBRE) shows. As in the firm’s previous survey in May, Singapore was … Read more
Punggol BTO flats in hot demand
IN THESE leaner economic times, the cheapest public housing option for newly-wed couples has been three times subscribed. The Housing Board’s latest Build-To-Order (BTO) flats, Punggol Arcadia, closed yesterday with 2,344 applications for just 750 units. The final update will be made today at 2pm. The overwhelming response ‘demonstrates that there is still a high … Read more
No artificial boosters: Mah
There are limits to what Govt can and should do, says Minister WHEN it comes to dealing with weak demand in the domestic property market, developers and officialdom may not exactly be on the same page right now. And it couldn’t have been more evident during last night’s 49th anniversary dinner of the Real Estate … Read more
Singapore slips as office rents slow
Occupancy costs in Middle East the fastest growing THIS is one ranking that Singapore would be happy not to climb: Cities with the fastest-growing rentals. According to a semi-annual survey of office markets worldwide, Singapore now ranks 13th in terms of posting the fastest-rising rents among 172 markets, slipping from No 3 position six months … Read more
313@Somerset launches S$1m Retail Training and Employment Centre
A new S$1 million Retail Training and Employment Centre has been launched in conjunction with the upcoming mall at Orchard Road, 313@Somerset. 313@Somerset is being developed by Land Lease Retail Singapore. The project is the first major fully integrated retail development in Asia undertaken by the company. Lend Lease said the new centre is aimed … Read more
New York home prices see steep decline
The economic crisis is finally crashing New York’s real estate party, forcing the city’s residents to start sharing the rest of the country’s pain. And with so much of the city’s financial well-being and its citizens’ psyche invested in both Wall Street and the prices of its homes, the decline is triggering fears of a … Read more
