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Prices of Marina Bay luxury condos pick up

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The strong sales at new launches in the prime districts have had a positive effect on transactions and prices in the resale market. It is not just the prime districts of 9 and 10 that are benefiting, but Marina Bay in District 1 as well. Eric Tay, district director at PropNex, who has focused on…

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Alpha sells 22 units at Draycott Eight

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American alternative investment manager Angelo Gordon has bought a stack of 22 units in the Draycott Eight condo for over $100m. The units were sold by a fund managed by Alpha Investment Partners, wholly-owned subsidiary of Keppel Capital. The 22 units have a total strata area of 65,401 sq ft; Draycott Eight, comprising 136 units…

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Condo, private apartment rents drop 0.4% in August

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Rents of private non-landed homes in Singapore dropped 0.4% in August compared to July, while rental volume fell by 10.4%. The latest data seems to suggest that the private rental market has not yet found a bottom and rental weakness may persist till next year. Year-on-year, rents in August were down by 2.5 per cent…

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Condo resale market quickens in August

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Resale prices of non-landed private homes in August rose 0.7% month-on-month and 3.2% from a year ago. They are now off just 4.3 per cent from their last peak in January 2014. Month-on-month, resale prices in the core central region and outlying areas increased by 0.2 per cent and 1.6 per cent respectively, while prices in…

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Morgan Stanley: Home prices to rise by 8% in 2018

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Morgan Stanley is expecting Singapore’s private home prices to increase by 2% this year, before rising again by another 8% next year. This compares with DBS’s forecast of a two percent fall in 2017 and three percent increase in 2018 and another three percent in 2019. OCBC Investment Research, on the other hand, only expects…

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Freehold Balestier property launched for sale

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A freehold property at 10A Jalan Ampas in Balestier has been launched for sale at a guide price of $16.8m. Located within an industrial cluster, the approximately 12,070 sqft site is currently zoned for Business 1 use under the Master Plan 2014 with an allowable gross plot ratio (GPR) of 2.5. However, subject to the…

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Church buys Elite Building in collective sale

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Elite Building, a freehold 6-storey property near Aljunied MRT Station, has been sold through a collective sale for $52m to The Tabernacle Church and Missions Limited. The price works out to $1,242 psf based on the existing gross floor area of 41,866 sqft. Completed about two decades ago, Elite Building comes with 19 carpark lots…

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HDB resale prices up 0.1%, volume rises 9.6%

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HDB resale prices went up in August, with an increase of 0.1% over resale prices in July. The resale prices of HDB four-room flats increased by 0.4 per cent. HDB five-room flat prices went up by 0.2 per cent and HDB executive flats by 0.4 per cent. However, HDB three-room resale prices decreased by 0.4…

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