Author: PropInvestSG

The number of new private homes sold in May jumped 53.1% compared to April and 7.9% compared to the same month last year, according to information released by the Urban Redevelopment Authority (URA) on Monday, 18 June. Developers sold 1,121 private homes in May 2018, excluding executive condominiums, compared with 732 units in April. The number of units sold was also the highest since August 2017, when 1,246 new private homes were sold. Including ECs, 1,257 units were sold in May, a slight drop from 1,328 sold in April and lower than 1,416 sold in the same month last...

EL Development has signed a memorandum of understanding with Accor for the French hotel chain to manage a new hotel that the Singapore property developer will build in Hill Street. Accor will manage the hotel under its Pullman brand – this will be the first Pullman in Singapore, EL Development managing director Lim Yew Soon told The Business Times in a recent interview. “Singapore is one of the major cities left in Asia where Accor has yet to have a Pullman… when Singapore is its Asia-Pacific headquarters,” he noted. MALAYSIA will investigate the Battersea Power Station deal and other...

According to SRX, the rental index for non-landed private residential units rose 0.2% in May 2018 compared to April 2018. In terms of rental volume of private non-landed residential units, overall numbers have fallen to 4,674 in May 2018 compared to the previous month (4,831) and the same month last year (4,929). The average number private non-landed residential leases inked over the last 12 months is approximately 4,880 per month. Also read: APAC Realty a good stock to invest in? The highest number of rental deals continue to be inked in the Outside Central Region (1,610 in May 2018),...

TWO property launches in Serangoon over the weekend garnered good response, testament to the still-improving sentiments in the residential property market, despite the fact that both projects were located just couple of hundred metres apart from each other. Affinity at Serangoon by Oxley Holdings, to be constructed on the former HUDC estate Serangoon Ville site, sold 112 units out of the 300 that were launched in its phase one. Oxley’s director of marketing and sales Eugene Lim said that the transacted units were spread evenly across various configurations – from one-bedders to four-bedders-plus-study apartments. AFFINITY at Serangoon, a development...

THE Ministry of Transport (MOT) issued a statement late on Monday to say that Singapore has yet to receive official word from Malaysia regarding the supposed cancellation of the Kuala Lumpur-Singapore high-speed rail (HSR). The MOT, indicating that it would wait for official word from Malaysia before proceeding, said in its statement: “We had agreed to proceed with the HSR project based on mutual benefits and obligations set out in the HSR bilateral agreement.” Meanwhile, property analysts have said that although the cancellation of the project – which is to have its terminus in Jurong – will put a...

Managers of Reits with overseas assets address investors’ concerns at symposium WHILE real estate investment trusts (Reits) with overseas assets present additional risks, they also provide higher growth opportunities, and managements take several measures to allay investors’ concerns, said experts at a panel discussion at the Reits Symposium 2018. The annual one-day event, held last Saturday at the Suntec Singapore Convention & Exhibition Centre, is in its fourth edition. It was jointly organised by Reit Association of Singapore (Reitas) and ShareInvestor, a subsidiary of Singapore Press Holdings. Goh Toh Sim, chief executive officer of EC World Reit manager, a...

November launch for first batch of HDB flats in new Tengah estate THE first batch of 1,500 Housing Board flats in the new Tengah estate will be launched in November, Minister for National Development Lawrence Wong announced on Sunday. He shared the details in a post on his blog, Housing Matters, where he said that the flats will comprise “a good mix across different flat-types”. Over the next few years, there will be a steady stream of flats in Tengah, which is Singapore’s first new town in more than 20 years since Punggol, he added. When completed, Tengah will...

Le Quest condo at Bukit Batok West Ave 6 is being launched once again by developer Qingjian. Stopped for sale since last Aug 2017 after all the launched units were snapped up, this is the chance for buyers to enter the property market before prices rise even further. In Aug 2017, 280 units were sold at an average price of S$1,280 psf. Many of those who turned up were hopeful of getting a project in the Western part of Singapore and to ride on the potential of the High Speed Rail and Jurong Lake District story. The take up...