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…
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…
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…
The transfer of industrial land and properties under the Housing Board (HDB) to JTC Corporation will not translate into higher rents for most tenants and lessees. HDB and JTC rents are set based on similar principles and are in line with market rates. About 10,700 industrial units and 540 industrial land leases will be consolidated…
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…
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…
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…
The Sentosa Cove penthouse unit belonging to former City Harvest Church pastor Kong Hee was relisted for $11.5 million last week - 15 per cent higher than its 2015 listing price of $10 million. The 5,242 sq ft penthouse unit was bought and co-owned by Kong and Indonesian tycoon Wahju Hanafi in 2007 for $9.33…
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…
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…