Sold for $3.4m in 8min, online

Virtual auction draws 15 bids for freehold house; no takers for 7 other properties up for sale It took only eight minutes for a 21/2-storey semi-detached house in Toh Tuck Road to be sold for $3.4 million in a virtual auction. The freehold property at 69 Toh Tuck Road, which has a land area of[…]

Prices of HDB resale flats up 1.4% in third quarter

Resale prices of Housing Board flats rose in the third quarter of this year, with the resale price index reaching 133.7, said HDB yesterday. This is an increase of 1.4 per cent from the previous quarter. Last quarter’s performance also marked a significant improvement from the previous quarters. The resale price index had risen by[…]

60% of Penrose condo units sold over launch weekend

Hong Leong says timing and sensitive pricing among main factors for the positive response The Hong Leong group sold 60.3 per cent of its Penrose condominium over its launch weekend, with the reception among buyers in line with recent data showing bullish new home sales defying the ongoing coronavirus pandemic. As of 5pm yesterday, 341[…]

Maxwell House up for collective sale with reserve price of $295m

Maxwell House, which has been around since 1971, is up for collective sale with a new mixed-use commercial and residential project or hotel possibly taking over the site. Owners of the 13-storey building at 20 Maxwell Road have set a reserve price of $295 million, sales consultant Cushman & Wakefield said yesterday. The block comprises[…]

CIMB scraps mortgage hike plans after clients’ pushback

CIMB Bank will maintain the floor rate for its mortgages pegged to the Singapore inter-bank offered rate (Sibor) and swap offer rate (SOR) after customers’ pushback against a planned hike. The bank said on Wednesday that it will reduce its deposit rates and cost of deposits, and this will allow the bank to maintain its[…]

New home sales surge to 11-month high in August

Analysts cite attractively priced launches, pent-up demand among reasons for increase Hungry ghosts were no match for hungry home buyers as new home sales jumped to an 11-month high last month, with developers selling 1,256 non-landed private homes, up 16.3 per cent from the 1,080 private homes sold in July. Year on year, sales were[…]

Topshop closing last physical store here after two decades

British fashion brands Topshop and Topman will close their last outlet in Singapore next Thursday and go online instead, with retail experts saying more brands might follow suit. Yesterday, Wing Tai Retail, brand manager for Topshop and Topman here, confirmed the closure of the VivoCity outlet, and said its focus for the two brands will[…]

Condo resale volume hits 2-year high in August: SRX

SINGAPORE – The number of private non-landed homes resold hit a two-year high last month while prices firmed slightly in what observers see as another sign of the Singapore’s property market’s growing recovery from the effects of the Covid-19 pandemic. An estimated 1,052 resale condominiums and apartments changed hands last month – up 7 per cent[…]