May 2023

SINGAPORE (EDGEPROP) - A freehold conservation shophouse at 31 Niven Road, in the Mount Sophia area in District 9, is up for sale through an expression of interest (EOI) exercise with a guide price of $5.2 million, or $4,163 psf on the land area. The property sits on land designated for residential use and is newly renovated, says marketing agent Huttons Asia. The shophouse has a land area of 1,249 sq ft,...

SINGAPORE (EDGEPROP) - Over the weekend of May 6-7, joint developers Hoi Hup Realty and Sunway Property sold 216 units (26.5%) of their 816-unit freehold condominium, The Continuum. The average price of units sold at the project on Thiam Siew Avenue -- just off Haig Road and Tanjong Katong Road -- was $2,732 psf. "It's a strong showing considering the recent cooling measures and cloudy economic outlook,"...

SINGAPORE (EDGEPROP) - HDB has announced changes to its processes for assessing flat buyers’ incomes and eligibility for housing subsidies, effective May 9. The changes come in tandem with the introduction of a new HDB flat eligibility (HFE) letter to replace the existing HDB loan eligibility letter. The HFE letter informs flat buyers upfront about their eligibility for a new or resale flat purchase, as...

SINGAPORE (EDGEPROP) - Commercial real estate investment activity in Asia Pacific (Apac) clocked in at US$27 billion ($36 billion) in 1Q2023, according to data compiled by global real estate consulting firm JLL. This represents a 30% y-o-y drop compared to 1Q2022. The fall in investment volume follows interest rate headwinds and asset price adjustments, states JLL. “The market continues to be...