Singapore Property News This Week #277

Residential

HDB resale volume up by 19.5% in August

HDB resale transactions in August rose 19.5 per cent to 1,879 flats, compared to a month ago as prices slipped 0.7 per cent, according to estimates by SRX Property. The higher resale volume could be due to the possibility that owners who chose to sell in the lull lunar seventh month are usually more desperate. They might offload their existing flat urgently as their new executive condominiums (ECs) or build-to-order flats have been completed for a while.

(Source: Business Times)

Freehold apartments in prime districts might soon be up for sale

A BUNDLE of three smallish freehold apartment developments in prime districts 9 and 10 may be put on the market soon. The portfolio comprises 120 Grange Road, Cuscaden Mansions at 3 Cuscaden Walk, and 8 Hullet Road. The developments house 47 units in total. Their total strata area is almost 40,000 sq ft. The current estimated gross floor area (GFA) is believed to reflect a 2.2 plot ratio (ratio of GFA to land area). The owner is said to be a trust operated out of the United Kingdom.

(Source: Business Times)

Commercial

Two more Starwood brands to arrive in Singapore

Two more Starwood brands, The Luxury Collection and Tribute Portfolio, will make their debut in Singapore within the next two years, increasing the number of Starwood properties in Singapore to eight. Rajit Sukumaran, senior vice-president, acquisitions & development, Asia Pacific at Starwood Hotels & Resorts, said Starwood is confident the two distinct brands will make their mark in Singapore’s “highly competitive hospitality market”.

(Source: Business Times)

Farrer Square’s last 6 medical suites offered for sale

The top two strata floors of medical suites, comprising six units in the Farrer Square development in Little India, are being offered for sale through an expression-of-interest (EOI) exercise. Farrer Square’s remaining six medical suites are available for sale on a bulk or individual-unit basis with an indicative asking price of about S$5,100 per square foot (psf). A wide variety of buyers are expected, including high-net worth investors and medical group end-users.

(Source: Business Times)

Largest freehold automobile mega hub in S’pore tops out

Boutique property developer BS Capital will top out Carros Centre on Wednesday. It will be the largest freehold automobile mega hub in Singapore. The freehold strata-titled industrial development has over 2.3 million square feet of built-up area, spanning eight floors, and comprises 383 strata units. Scheduled for completion by the first quarter of 2017, Carros Centre is an industrial integrated development located at 60 Jalan Lam Huat, within Sungei Kadut in the north region.

(Source: Business Times)

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