SINGAPORE – New private home sales plunged to a five-year low last month and are expected to remain low in May as showflat galleries stay closed and new launches are pushed back further because of the extended circuit breaker. Developers in Singapore sold 277 private homes last month, down 58 per cent from 660 homes[…]
SINGAPORE – Property developer City Developments Limited (CDL) and its joint-venture associates sold 185 units with total sales value of $278.1 million for its first quarter ended March 31, versus 173 units with sales value of $516.3 million a year ago, CDL said in a business update on Tuesday (May 12). The lower sales value[…]
SINGAPORE – Property buyers who have difficulties in making payments because of the Covid-19 pandemic can get temporary reprieve under a new law that gives individuals and businesses more time to satisfy contractual obligations. The Covid-19 (Temporary Measures) Act will now be expanded to cover option to purchase (OTP) agreements and sale and purchase (S&P)[…]
SINGAPORE – Up to around 500 private housing developments in Singapore could benefit from a six-month extension to the original timeline for the completion and sale of the projects’ housing units, a Ministry of Finance spokesman told The Straits Times on Thursday (May 7). The extra time given to developers to meet conditions for additional[…]
Prices may be down but it’s best to do your sums first The news sounds surreal in the face of a global pandemic – new private home sales in Singapore jumped 57.3 per cent in February. Developers found buyers for 1,314 newly launched units that month, up 105.3 per cent from the 640 they sold[…]
SINGAPORE (BLOOMBERG) – Singapore expats are often envied for their generous pay packets but facing the prospect of salary cuts as the coronavirus batters businesses, some are tightening their belts and asking for lower rent. Mr Clarence Foo, a real estate agent at APAC Realty unit ERA, has come across seven such cases over the[…]
Following the announcement of the extension of the circuit breaker period to June 1 and the tightening of rules on essential services, malls have extended their rental rebates for tenants whose businesses have been affected. In a statement yesterday, City Developments Limited (CDL), which operates malls such as City Square Mall in Farrer Park and[…]
Some say rental rebates are not enough, others say landlords still making demands for payment Rental relief measures to help tenants whose businesses have been hit by the pandemic seem to be falling short, with some tenants saying the rental rebates are not enough, while some landlords are still demanding rental payments from tenants that[…]
SINGAPORE – Retail tenants of UOL Group and its subsidiary United Industrial Corporation will receive rental rebates from May till July on top of rental waivers already given out in March and April. This will result in a total relief package of more than $50 million to help tenants withstand the coronavirus crisis, inclusive of[…]
Singapore (THE BUSINESS TIMES) – Singapore’s construction sector is poised to take a hard hit from the Covid-19 outbreak in the short-term, and is now expected to contract sharply by 10.3 per cent this year in real terms, according to Fitch Solutions. This is down from its previous forecast of a 3.2 per cent contraction,[…]
SINGAPORE – In the first government land sale (GLS) in 2020, the Housing Board on Thursday (April 30) put on the market an executive condominium site in Yishun Avenue 9, and extended the public tender period to six months because of the coronavirus outbreak. The tender for the 99-year leasehold land parcel will close at[…]
SINGAPORE – The sales exercise for Build-To-Order (BTO) flats in May will be deferred until further notice, said the Housing Board (HDB). Some 3,700 BTO flats in Choa Chu Kang, Tengah, Pasir Ris and Tampines, and about 160 assisted living flats for seniors in Bukit Batok were supposed to launch next month. This comes after[…]