Daily Archives: April 10, 2014 (25 Articles Found)

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Residential investment sales soar to $2.52 billion

Total residential investment sales surged to $2.52 billion in the first quarter of 2014 from just $1.16 billion in the quarter before due to the sale of seven housing sites by the government, revealed a Colliers Intl report.…

Investment market to remain ‘cautiously optimistic’: Colliers

Following the positive results the commercial sector posted in Q1, Singapore’s property investment sales market is expected to stay cautiously optimistic for the rest of the year, with interest for private commercial and hotel land parcels likely to…

Soh Hwee Cheow retires as Ho Bee Land GM for projects

Ho Bee Land announced the retirement of Soh Hwee Cheow as general manager for projects. Mr Soh, 59, assisted the executive director in implementation of the group’s development projects. He was appointed to the position 1 Jan 2001.…

Koh Teng Kiat quits as Pollux Properties director

Pollux Properties announced the resignation of Koh Teng Kiat as non-executive independent director. He stepped down due to other work commitments which require undivided time and attention. Mr Koh, 58, was also Audit Committee chairman and a member…

Here are four property developers that could face privatisation soon

Including the most recent general offer of SingLand, CIMB counted nine privatisations/partial offers within the property space in the past four years. CIMB explores potential privatisation candidates which include Wheelock, Ho Bee, Wingtai and Bukit Sembawang. With developers…

Lower sales, hefty extension charges feared to knock down Singapore’s luxury segment

Lower sales, hefty extension charges feared to knock down Singapore’s luxury segment. According to CIMB, given supply concerns and policy curbs, it expects a buyers’ market with little pricing power for the developers in 2014-16. CIMB predicts a…

Singapore investors splurged almost US$798m on hotel investments

According to Savills, Singapore investors invested nearly US$798 million or 35.7% of all investment sales in Q1/2014. At the beginning of this year, Royal Group acquired the 215-room The Sentosa Singapore (formerly known as The Beaufort Singapore) from…

Men trapped after tree falls at Alexandra Hospital

Two men were trapped after an tree measuring about 3m in diameter and 15m in height uprooted and fell onto a building opposite the auditorium of Alexandra Hospital during a storm this afternoon. They have since been rescued…

Low-grade office space faces vacancy pressure as tenants upgrade to new buildings

According to Colliers Intl, some vacancy pressure may be felt in buildings of lower grades when tenants carry out their planned upgrades to the newer buildings. For example, SGX will begin to move about 70% of their employees…

Why analysts are all eyes on Woodlands Regional Centre

Why analysts are all eyes on Woodlands Regional Centre. According OrangeTee, in line with the decentralisation strategy announced in Concept Plan 1991 to guard against congestion and over-development in the CBD and Marina Bay areas, Woodlands Regional Centre…

Monthly rents for premium, Grade A office space in CBD crept up by 3.2%

According to Colliers Intl, buoyed by increased leasing activities, landlords revised their rent expectations upwards across the market. As a result, the average monthly gross rent for Premium Grade office space in the Raffles Place/New Downtown micro-market rose…

Industrial property tenants refuse to relocate despite stiffer space competition

According to Colliers Intl, it was observed that leasing enquiries had increased in 1Q 2014, particularly for industrial space that is zoned for “Business 2” use. Market interest has generally stemmed from manufacturing companies from the oil and…

Capital values for premium grade offices to creep up some more

According to Colliers Intl, more foreign companies, including those in the trading (e.g. Novatek), brokerage (e.g. Haitong International Securities Group) and e-commerce (e.g. Rakuten and Lazada) industries, have recently opened or are looking to open new offices in…

The Sorrento condo to launch at $1,380 – $1,600 psf

The Sorrento condominium will officially launch next Sat, CBRE said. The public preview at the showflat along West Coast Link has already started and runs till 16 Apr. Developed by Allgreen Properties, the five-storey freehold project on the…

Banks expected adopt sound valuation processes

Mr Patrick Tan Choon Hong attributed the rise in property prices largely to the practice of banks matching their valuations for new property launches with the asking prices of developers (“Review bank valuation process for new launches”; 3…

Mr Patrick Tan Choon Hong alleged that property prices have risen in recent years due largely to banks matching their valuations for new launches to the developers’ asking prices (“Review bank valuation process for new launches”; last Thurs).…

Greenery in heartlands should be groomed

The green landscapes in the heartlands are enjoyed by many residents. The greenery should thus be kept from becoming unkempt and, in turn, unattractive to residents. Take, for example, the relatively new rooftop garden at Blk 921A, Tampines…

Never base your relationship on the availability (and price) of a flat. Otherwise, you may find yourself paying off a hefty fine while nursing a broken heart

Feb is the month for love, and they say love is blind. But, at the risk of sounding like a wet blanket, you shouldn’t be blind when it comes to facing the repercussions of a break-up on what…

Private apartment rents hit 27-month low

Rents for private apartments fell to a 27-month low last month as landlords competed for tenants amid a flood of new homes on the market. The fall came despite more leases being inked in Mar than in Feb,…

Resale condos mark higher prices, volumes in March

Resale prices of non-landed private homes inched up 0.2 per cent in Mar, led by an increase in transaction prices in RCR. This marked a slight recovery from a 3.1 per cent decline in resale prices in Feb,…

Barclays S’pore to move more staff to CBD

Barclays, the UK’s second-largest bank by assets, is moving more employees to an office in Singapore’s CBD from the suburbs to cut costs, people familiar with the matter have said. Barclays will terminate its lease on about 15,500…

The 14th floor of Samsung Hub along Church Street has been sold at slightly over $39.72 million or $3,030 psf based on its 13,110 sqft strata area. Word on the street is that Arch Capital Management, a Hong…

3-room BTO flats for singles – not now, but not never

Once, single Singaporeans could not buy a HDB flat. Not a new, subsidised one. Not one on the resale market. Then, in 1991, the rules changed. Those aged at least 35 could buy three-room or smaller resale flats.…

Flats with existing valuations favoured

Buyers are favouring resale flats which already have official valuations, as such deals offer more certainty, say agents. Since Mar 10, the Housing Board has accepted valuation requests only from buyers who have been granted an OTP by…

HDB resale rule one month on: Buyers cautious

A month after HDB’s new resale process began, the need to agree a price before getting a valuation has not been popular, say property agents. Even though the market has adapted to looking at past transactions as a…

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