Volumes shrink, prices weaken but some segments are holding firm
BASED on the latest monthly developer sales data from the Urban Redevelopment Authority (URA), property prices could be on the downward trend.
Developer sales fell, with April seeing only 274 transactions. This is about 9 per cent lower than the 301 units sold in March, though still higher than the 174 units sold in February.
And while it is difficult to accurately pinpoint price movements with such low volume, an analysis by Knight Frank of overall median prices achieved nevertheless registered an 8.9 per cent drop in April, falling to $943 psf compared to $1,035 psf in March.
The peak median price of over $1,400 psf was reached in August 2007.
Knight Frank director (research and consultancy) Nicholas Mak also explained that the analysis was a ‘median of median prices’, and so may not be a precise reflection of price movements.
Mr Mak also said that applying a different mode of analys...
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No major property launches expected in the next 3 monthsFrom: lushhomemedia.com
Post Date: 2008-03-12 19:00:10
Kuwaiti pullout from $818m deal, low top bid for Jurong West site unnerve market
MAJOR residential property launches are unlikely for at least three months after the already nervous market was spooked by two sobering events this week, market analysts said.
The first was the pullout of a Kuwaiti investor, Kuwait Finance House, from an option to buy $818 million worth of 97 units at Goodwood Residence.
The second was when the top bid by a property developer for a Jurong West lande...
more Singapore: costliest industrial spot in Asia ex-JapanFrom: lushhomemedia.com
Post Date: 2008-03-12 18:46:48
It rises 2 notches to take 12th place in the world
SINGAPORE has risen two notches to become the 12th most expensive industrial location in the world.
And excluding Japan, which is ranked third in the world, Singapore is the most expensive location in Asia, surpassing Hong Kong (23rd), Mumbai (26th) and Taipei (36th).
Average net rents are now at $1.70 per square foot a month after rising 26 per cent year-on-year (y-o-y) last year. Total occupancy cost ...
more Swiss Bank takes up bulk of new blockFrom: lushhomemedia.com
Post Date: 2008-03-12 18:43:54
EFG Bank leases 52,000 sq ft for the next 6 years, with naming rights
SWISS private banking group EFG Bank has leased 52,000 square feet or two-thirds of a nine-storey office block coming up opposite Parliament House.
Prestigious address: EFG Bank Building will come up opposite Parliament House. EFG Bank is taking space that’s three times the size of its existing premises
EFG has naming rights for the freehold building, which is expected to be ready in the first quarter n...
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