Singapore Property News

Flats need to be built quickly 'by tens of thousands', minister adds (SINGAPORE) The Ministry of National Development (MND) is looking to increase the supply of rental flats for single parents. This comes shortly after it unveiled plans to speed up the construction of build-to-order (BTO) flats for young couples.   The move to step up the supply [...]

Growth the third fastest out of 26 markets in Asia-Pacific in first quarter, says new report SINGAPORE office rents and capital values notched up the third fastest growth out of 26 markets in the Asia-Pacific region in the first quarter. A new industry report found that rents grew by 7.9 per cent compared with the previous quarter, supported [...]

THE Housing Board could not have sent a stronger signal against unauthorised subletting than in stepping up enforcement recently. According to figures released this week, it began compulsory acquisition of units from 39 of 95 owners who rented them out without permission. The rest avoided acquisition but had to pay a penalty. HDB compulsorily acquired only two flats [...]

In the latest survey, the annual rental value for Singapore was US$73.51 psf SINGAPORE has shot up to ninth position in the ranking of the world's most expensive office locations as at December last year, from 15th place in June 2010 and 24th position in December 2009.   This is in line with rising rents for Grade A [...]

More neighbours blow the whistle; board gets tough on blatant abuse FLAT owners who lock up one room to pretend they are living there, while illegally subletting the rest of their Housing Board (HDB) flats, are now less likely to get away with it. The HDB said yesterday that it has more than doubled its enforcement checks, and [...]

LAST year, the Housing and Development Board (HDB) stepped up enforcement against unauthorised subletting of public housing, carrying out 7,000 flat inspections in 2010 (up from 3,000 inspections in 2009). Of the 7,000 inspections conducted, approximately 1,800 inspections were the result of public feedback – almost double that of the year before.   While most of the flats [...]

MORE investors are turning to industrial properties as a result of government cooling measures in the residential market, according to a new report by CB Richard Ellis (CBRE). Prices, rents and sales for industrial properties have all increased significantly, according to the CBRE figures released yesterday.   Most of the figures related to the first quarter. The latest [...]

THE rental gap between prime Orchard Road and prime suburban retail space narrowed further in the first quarter this year as suburban rents were unchanged while Orchard Road rents dipped marginally from the preceding quarter. As a result, the gap now stands at exactly $1 per square foot (psf) per month.   Figures from CB Richard Ellis (CBRE) [...]

However, pace of increase has slowed; prime rents up 3.6% q-o-q: CBRE OFFICE rents in Singapore continued to trend upwards in the first quarter of 2011 but the pace of growth has moderated in line with the less frantic pace of leasing, said a new report.   Prime rents averaged $8.60 per square foot per month (psf pm) [...]

LARGER four-bedroom units in prime districts were the only residential unit type to see an increase in rental values in the first quarter of this year, as compared with Q4 last year, according to preliminary estimates from Jones Lang LaSalle (JLL). According to the property consultancy firm, luxury prime properties saw a marginal 0.7 per cent growth in [...]