Singapore Real Estate
Cook, work, play in malls. But whither the retail property recovery?
Retail rents this year could stay flat or marginally increase for malls along the Orchard Road belt and in prime suburban areas, although a continued influx of supply and broader economic issues could continue to be overhanging concerns. This comes after the sector continued to slide from long-standing issues like competition from online shopping, labour shortages and leakage of shopper dollars overseas, prompting retail landlords to take action with creative tenancy rejigs.
Market watchers mixed over 2019 home sales
The wave of new launches that began in earnest the second half of last year may have helped developer sales end the year on a stronger than expected note. But views are mixed on how this year would pan out as the new launch bonanza is set to continue. Based on preliminary estimates, for the whole of 2018, developers sold an estimated 9,264 units and launched an estimated 8,773 private residential units.
Club St hotel site sets record price for 99-year land at GLS tender
A plum hotel site along Club Street in the CBD on Tuesday drew hotel groups from Singapore and the region, resulting in a record price being set for 99-year leasehold hotel land at a Government Land Sales (GLS) tender. However, in the housing land segment it was a tale of two cities. The top bid for a private housing site in Kampong Java Road in the Newton area came in below market expectations, reflecting the caution setting in among developers amid the current supply-demand imbalance.
900 flat buyers cancelled BTO bookings in 2018
About 900 flat buyers cancelled their Build-To-Order (BTO) bookings with the Housing Board last year because they could no longer afford the unit, changed their minds about moving or had bought a resale flat. Of the cancelled bookings, 38 per cent were for four-room flats, 25 per cent for two-room flexi or similar units, and 22 per cent for five-room flats. The remaining 15 per cent were for three-room homes.
Savills to launch business valuations service
With its new business valuation and advisory team, property consultancy Savills Singapore is positioning itself as a one-stop for both property and business valuations. Its new team of seven will be based out of Singapore while focusing on the South-east Asia region. It is also Savills’s largest business valuation and advisory team globally.
CapitaLand-linked counters see active trading
apitaLand’s proposed S$11.3 billion acquisition of Ascendas-Singbridge (ASB) set investors abuzz early this week, and as expected, trades were fast and furious on Tuesday when the counters involved in the deal returned to active trading. About 20.4 million CapitaLand shares were traded on Tuesday, closing one Singapore cent or 0.31 per cent higher at S$3.28.
Courts Asia acquires building in Jakarta from Sinarmas Land
Courts Asia’s wholly-owned subsidiary, PT Courts Retail Indonesia (PTCRI), has acquired the KHI Building in Jakarta, Indonesia, from a subsidiary of Sinarmas Land for around 97.56 billion rupiah (S$9.36 million), as it looks to restructure its store format in the country.
Views, Reviews, Forum & Others
Thanks, but no tanks: HDB orders removal of unusual fish tank
A Housing Board flat owner who converted the doorstep of his property into a fish tank for his koi fish has been asked to remove the unusual structure. The Tampines Street 41 resident had enclosed the area surrounding the steps up to his ground-floor unit to form a glass tank housing around a dozen pet fish, but was not aware that he needed permission to make the alteration.
Irony of building ‘forest town’ after clearing forests
I am puzzled that the HDB has chosen not to release the full report from the study it commissioned on the impact of the planned public housing in Tengah, given that it would allay the fears and concerns of the public, especially those of us who care for the survival of flora and fauna in Singapore (Dispute over key findings of Tengah environmental study; Jan 12).
Global Economy & Global Real Estate
China signals more stimulus as economic slowdown bites
Turkish tycoon in talks to sell several Europe luxury hotels to Dubai firm
Dubai ruler in talks to buy some of Europe’s most famous luxury hotels: Sources
Additional Articles of Interests – Local & Overseas Real Estate
Local & Overseas Real Estate – Full Article