August 2018

[Singapore’s Shoebox apartments help banking sector stabilitySINGAPORE (EDGEPROP) – Small residential housing size such as shoebox apartments is good for Singapore banks. You may not know it, but having ever smaller housing is almost institutionalised in Singapore’s policies on land, and on the Singapore banking and financial sector.The ever smaller housing means rising land prices and that means...

SINGAPORE (EDGEPROP) – New launch The Tre Ver condo sold almost 70 per cent of units offered at its Phase 1 offer. The developers’ offer of steep discount lured in mainly first time home buyers to the new launch on August 4th (Saturday) amidst the new property curbs.The Tre Ver Condo is a 99-year leasehold brand new property launch, by UOL Group and UIC Industrial Corporation, located along Potong...

SINGAPORE (EDGEPROP) – Singapore’s luxury homes are likely to be hardest hit by the recent property cooling measures, with sales forecast to fall between 30 and 40 per cent in the next two quarters, reported Bloomberg. In quoting Christine Li, a senior director and head of research for Singapore at Cushman & Wakefield Inc, the report suggested that foreigners may hesitate with their purchase of...

SINGAPORE (EDGEPROP) – The property cooling measures introduced by the Government on July 5 to counter the euphoria in the property market is expected to have an impact on bank loan growth. An earlier analysis by RHB Bank said that amongst the three local banks, UOB share price may be impacted more negatively in the short term. UOB has the highest exposure to housing loans, at 27.6 per cent of its...

Image Credits: Woodleigh Residences, Singapore Press Holdings and Kajima DevelopmentSINGAPORE (EDGEPROP) – Woodleigh Residences is a brand new residential cum retail development located along the Upper Serangoon Road, in the highly-coveted Bidadari Estate. The site of the project was purchased by two developers, Singapore Press Holdings and Kajima Development, who came together to place a winning bid of...

Image Credits: Parc Botannia, Sing Development and Wee Hur Holdings LtdSINGAPORE (EDGEPROP) – Parc Botannia at Fernvale Street is a 99-year leasehold new residential property launch by veteran developers Sing Development and Wee Hur Holdings Ltd. The one-of-a-kind condo project sits on a massive 17, 196.4 sqm piece of land and boasts of a maximum gross floor area of 51,590 sqm. The plot of land for this...

SINGAPORE (EDGEPROP) – CBRE announced on August 1 that it has brokered the sale of 4 Pandan Crescent to LOGOS, which may be redeveloped into an e-commerce logistics hub. The transaction is subject to JTC Corporation’s approval.Ms Brenda Ong, Executive Director of Industrial & Logistics Services, CBRE said, “Large sites in prime locations that can accommodate modern, ramp-up logistics facilities...

SINGAPORE (EDGEPROP) – JLL, is inviting offers through an Expression of Interest (EOI) exercise for the purchase of two contiguous 999-year leasehold office floors located at 62 Cecil Street, TPI Building #05-00 and #06-00, Singapore, 049710.Completed in 1983, TPI Building is a six-storey 999-year leasehold office development located within the heart of Singapore’s Central Business District....

SINGAPORE (EDGEPROP) – In assessing the economy of the United States of America, the Federal Open Market Committee (FOMC) kept the Federal Reserve interest rates unchanged for now but hinted at another rate hike as soon as September. The Federal Reserve unanimously voted to keep its benchmark federal-funds rate in a range of 1.75 – 2 per cent at the end of their two-day meeting that ended Wednesday.The...

SINGAPORE (EDGEPROP) – Mr Lim Kim San’s good class bungalow (GCB) at 81 Dalvey Road came to the market for sale on July 31. The GCB is expected to fetch prices above $100 million. The good class bungalow’s proximity to Botanic Gardens and its large plot size of 51,058 square feet, as well as it being situated on high grounds are all cited as reasons for a high price tag.Mr Lim is credited for...