Attractive commercial/residential site on confirmed list for release

A choice commercial and residential site along Upper Serangoon Road right next to Woodleigh MRT Station will be launched on the confirmed list in December this year. It is for a mixed-use development that could yield an estimated 825 private homes and about 15,000 square metres gross floor area (GFA) of commercial space. A 0.4-hectare plot at the junction of Perumal and Race Course roads, next to the Farrer Park MRT Station was another top choice as it can generate about 200 private homes.

(Source: Business Times)

HDB prices remain relatively unchanged in May

SRX Property’s price index for HDB resale flats inched up 0.2 per cent in May 2016 compared to April. This follows a 0.1 per cent month-on-month dip in April 2016. However, year on year, the index is unchanged. The price sub-index for resale flats in mature estates dipped 0.1 per cent month-on-month in May, while the sub-index for non-mature estates increased by 0.5 per cent. On a year-on-year basis, however, prices in mature estates have risen 0.6 per cent but contracted 0.5 per cent in non-mature estates.

(Source: Business Times)


Singapore prime rental continues to fall

CBRE said average prime rents for the suburban sub-market fell 0.7 per cent from the first quarter of 2016 to S$29.45 per square foot per month (psf/pm). Average prime Orchard Road rents slipped 1.1 per cent from Q1 to S$32.50 psf/pm. This was the sixth consecutive quarter of decline for Orchard Road since Q4 2014. Desmond Sim, head of research, Singapore & South East Asia at CBRE opines that malls which are located near transport nodes, will have continued demand for rents and occupancy despite the current market conditions.

(Source: Business Times)

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