Residential
Resale condo prices fell for 2nd month in a row
SRX Property’s August flash estimate shows that its overall resale price index for non-landed private homes fell 0.8 per cent month on month. Prices in the Rest of Central Region (RCR) and Outside Central Region (OCR) shrank 1.5 per cent and 0.7 per cent respectively while prices in the Core Central Region (CCR) increased by 0.1 per cent. Wong Xian Yang said that the second consecutive monthly drop in the SRX overall resale price index for non-landed private homes raises doubts about the expected stabilisation in prices.
(Source: Business Times)
Leedon Park GCB for sale by tender
17 Leedon Park, which is situated on one of the highest points of the Leedon Park GCB Area, was launched for sale by tender by sole marketing agent JLL on Tuesday. Offers are expected to be in the region of S$70 million to S$75 million, roughly around S$1,493 psf to S$1,599 psf on the land area. Built in the early 1990s, 17 Leedon Park comprises a two-storey bungalow with a built-up area of approximately 9,000 sq ft equipped with a 21 m long in-ground swimming pool and a lavish garden.
(Source: Business Times)
Rents of private and HDB flats fall 0.6% in August
Rents of private non-landed homes and Housing & Development Board (HDB) flats in Singapore slipped 0.6 per cent in August compared to July. SRX Property estimates on Wednesday showed that shorter leases are increasingly more sought-after amid uncertain economic conditions.
(Source: Business Times)
110 Robinson Road sold at S$45.1 million
The 12-storey freehold office block at 110 Robinson Road, owned by OCBC, has been sold it to Indonesian tycoon Tahir. The price is understood to be S$45.1 million or nearly S$3,169 per square foot based on the net lettable area of 14,233 sq ft. Mr Tahir was the highest bidder.
(Source: Business Times)
Developers’ EC sales did well in August
Developers’ sales of ECs this year surpassed that for the whole of last year. ECs took up 41 per cent of the total 805 residential units sold by developers in August. The numbers were collated by the Urban Redevelopment Authority (URA) through a developers’ survey. The good performance from ECs came amidst poor performance from residential units, which was a 57% fall from July’s sales.
(Source: Business Times)
Commercial
Asia Square Tower 1 sets Asia-Pac record
Fragrance Foodstuff, which sells traditional Chinese snacks and bak kwa (barbecued meat), is buying two prime adjoining New Bridge Road shophouses where it has been leasing the ground-floor space for its flagship outlet for about a dozen years. It is paying S$20.5 million for the two properties that has a combined land area of 1,728 square feet. That price roughly translates to around S$3,535 per square foot (psf) based on their total gross floor area of about 5,800 sq ft.
(Source: Business Times)