Singapore private home prices dip 6.1% in Q4 amid downturn
The economic downturn is hitting home, with private residential prices recording their steepest drop in a decade. Private home prices fell by 6.1 per cent in the fourth quarter of 2008, worse than an early estimate of a 5.7 per cent drop. The quarter-on-quarter decline in the October to December period follows a 2.4 per … Read more
Private home prices, rents fall in Q4
Private home prices fell 6.1 per cent in the fourth quarter of 2008, bringing the full-year price drop to 4.7 per cent. The decrease is the second quarterly decline in private residential property prices following the 2.4 per cent fall in Q3. The latest decline, announced the Urban Redevelopment Authority (URA) on Friday, is worse … Read more
HDB resale prices see slower growth in Q4
HDB resale prices rose by 1.4 per cent in Q4 2008 over the previous quarter – lower than the 4.2 per cent increase seen in third quarter and the 4.5 per cent climb recorded in the second quarter. Resale transactions decreased by about 24 per cent, from about 8,110 cases in third quarter of 2008 … Read more
Office rents dip 6.5% in Q4: URA
Rentals of office space fell 6.5 per cent in Q4 2008, data released by the Urban Redevelopment Authority (URA) on Friday showed. But for the whole of 2008, rents for office properties still rose by 5.8 per cent, lower than the 56.1 per cent increase in 2007. The median rental for ‘Category 1′ office space, … Read more
Property-related Budget measures are deemed developer-friendly
Market-watchers have welcomed Budget measures, announced by Finance Minister Tharman Shanmugaratnam on Thursday, which are aimed at helping Singapore property developers through the current downturn. While analysts had already expected the government to unveil help for the depressed property market, they noted on Friday that some of the moves are particularly creative. These measures include … Read more
CapitaLand says no decision on fund raising
CapitaLand, Southeast Asia’s largest developer, said on Friday it has not made any decision to raise funds via a rights issue. ‘CapitaLand wishes to state that it has received and is continuing to receive various proposals for fund raising. These proposals include rights issues. CapitaLand has not made any decisions,’ the firm said in a … Read more
S’pore private home prices fall 6.1% in Q4
Singapore private home prices fell 6.1 per cent in the fourth quarter as the city-state plunged into its worst ever recession, government data showed on Friday. The drop marked the second quarterly decline in residential property prices following a 2.4 per cent fall in July-September. The decline in prices during the fourth quarter was also … Read more
Property slump to worsen Asia slowdown
Activity in China, Korea cools fast as force of global financial crisis hits home Slumping Asian property markets could intensify the region’s economic downturn this year, further undermining consumer and investor confidence and prompting homeowners to tighten spending. Japan, Hong Kong, Singapore and New Zealand are already in recession, and data yesterday showed activity in … Read more
MapletreeLog distributable income up 44% in Q4
MAPLETREE Logistics Trust (MapletreeLog) yesterday reported total distributable income of $28.3 million for the fourth quarter ended Dec 31, 2008, up 43.7 per cent from last year’s corresponding period. But the distribution per unit (DPU) of 1.46 cents for the quarter was 18 per cent lower than Q4 2007′s DPU of 1.78 cents. MapletreeLog attributed … Read more
First Reit’s Q4 distributable income up 11% to $5.3m
BACKED by higher rentals from its eight properties in Singapore and Indonesia, First Real Estate Investment Trust (First Reit) achieved an 11 per cent rise in distributable income to $5.3 million for its fourth quarter ended Dec 31, 2008. The year-on-year rise came as gross revenue rose 4.5 per cent to $7.6 million. Distribution per … Read more
