SINGAPORE PROPERTY

Q3 private home prices up; new home sales double over previous quarter, but rents are down

A SHARP rebound in private home sales in both primary and secondary markets in the third quarter underpinned continued gains in the official private home price index, but it was a different story in the leasing market.

URA private home price index up 0.8% in Q3; rents fall, vacancies rise

THE Urban Redevelopment Authority (URA) said on Friday that its private home price index rose 0.8 per cent in the third quarter of this year over the preceding three months. This is identical to the flash estimate released earlier this month.

Industrial property rents, prices continue slide

THE slide in Singapore industrial property rents and prices continued in the third quarter, with the pace of decline gathering pace though occupancy improved, latest figures from JTC Corp show.

Industrial space rents, prices continue to fall in Q3; occupancy rises: JTC

RENTALS and prices of industrial space continued to fall in the third quarter of 2020, latest data from industrial land and infrastructure agency JTC Corp shows.

SINGAPORE PROPERTY

Market for shophouses wakes up in the third quarter

AFTER a slow first half, the Singapore shophouse market started to stir in the third quarter on the back of pent-up demand following the 21/2-month period when property viewings were not allowed.

BT EXCLUSIVE

Dysons sell Wallich Residence triplex penthouse for S$62m

THE Dysons behind the eponymous British consumer electronics company are selling their triplex penthouse at Wallich Residence in Tanjong Pagar for S$62 million or close to S$3,000 per square foot on the strata area of 21,108 sq ft, BT understands.

Of property options and market distortions

After months of trying to persuade private housing developers not to indulge in the continual re-issuance of options to purchase (OTPs) upon expiry, effectively allowing buyers to defer their purchase and payment, the authorities finally clamped down on the practice on Sept 28.

Agents channelling a chunk of commissions to buyers

WHILE the authorities' move to put curbs on developers re-issuing options to purchase should help reduce some distortions in Singapore's private housing market, another source of distortion persists.

Redas calls for ABSD deferment for first-time HDB upgraders to private property

THE head of the Real Estate Developers' Association of Singapore has urged the government to urgently consider allowing first-time upgraders from an HDB flat to a private property to defer payment of the additional buyer's stamp duty (ABSD) till six months after the completion of the private...

Redas president calls for ABSD reprieve for first-time upgraders

FOLLOWING the government's clampdown on Monday on the re-issuance of options to purchase (OTPs) by private housing developers, the head of the developers' body has urged the government to urgently consider allowing first-time upgraders from a HDB flat to a private property to defer payment of...

Goh Cheng Liang family buys Thye Hong's Garlick Ave GCB

THE family of Singaporean billionaire Goh Cheng Liang is said to be the buyer of a bungalow sitting on 101,550 square feet of freehold land in Garlick Avenue.

BT EXCLUSIVE

Sentosa Cove bungalow buying revs up

ACTIVITY in the bungalow market on Sentosa Cove has revved up in the past few months on the back of several demand drivers, including buyers from mainland China.

Buyer fails to extend due diligence for ABI Plaza

ATTEMPTS to sell two office towers - ABI Plaza in Tanjong Pagar and PIL Building in Cecil Street - have hit a snag.

HOCK LOCK SIEW

Will OUE Commercial Reit sell some of its assets?

OUE this week completed the sale of the landmark US Bank Tower in Los Angeles for US$430 million, or at two-thirds of its US$650 million valuation as at Dec 31, 2019.

CapLand private fund in exclusive talks to buy ABI Plaza

A PRIVATE fund managed by CapitaLand is understood to be the frontrunner for ABI Plaza, a 12-storey freehold office building in the Tanjong Pagar area.

Thye Hong family sells Garlick Ave GCB plot

A DEAL is said to have been entered into for an old bungalow sitting on 101,550 square feet of freehold land along Garlick Avenue.

Savills Residential, Huttons Asia to merge in further sector consolidation

THE consolidation among property agencies here continues. This time around, Savills Singapore's associates arm - Savills Residential - will merge with Huttons Asia.

Thye Hong family's 101,550 sq ft GCB site creates buzz in market

AN old bungalow on a freehold site of 101,550 sq ft in the Garlick Avenue Good Class Bungalow (GCB) Area owned by some members of the Lee family behind the Thye Hong group that used to make biscuits has been generating some market buzz in the past few weeks.

Hotel, commercial use groups see biggest chops in DC rates

HOTELS and commercial property, which have received the biggest drubbing from the Covid-19 pandemic, are the use groups with the largest cuts in development charge (DC) rates for the next half-year period.

DC rates cut by average of 7.8% for hotel use, 3.6% for commercial use

THE Singapore government has cut the development charge (DC) rates for commercial, non-landed residential, hotel/hospital, and industrial use groups for the period Sept 1, 2020 to Feb 28, 2021.

TOPLINE

CDLHT rides on staycation wave with W hotel acquisition

LAST November, when CDL Hospitality Trusts (CDLHT) unveiled its plan to acquire the W Singapore - Sentosa Cove, its top brass could never have imagined the blow to international travel and tourism that was to come just a few months later with the outbreak of Covid-19.

BT EXCLUSIVE

URA steps up tracking of repeated issue of OTPs

THE Urban Redevelopment Authority (URA) has been tightening its monitoring of a property market practice that may be inflating the home sales figures of private developers.

JL Family Office buys 65 Club Street for $15.7m

JL Family Office, set up by ARA Asset Management cofounder John Lim, has bought 65 Club Street for S$15.7 million from boutique high-end property agency

July new home sales up 8.2% at 1,080 units

DEVELOPERS' private home sales for August are likely to match the level of July thanks to the launch of Forett At Bukit Timah earlier this month, as well as ongoing sales in existing projects on the market.

Developers sell 1,080 Singapore private homes excluding ECs in July, up 8.2% from June

DEVELOPERS moved 1,080 private homes in July this year, up 8.2 per cent from the 998 units they sold in the previous month.