News by Michael Lim

The key reason for venturing beyond Singapore was largely due to “the property cooling measures” rolled out in phases over the past seven years, according to Mohamed Ismail Gafoor, CEO of PropNex Realty.

In 2020, a 180m-tall Grade-A office building will replace the former CPF Building. The consortium redeveloping the property into a new 29-storey tower at 79 Robinson Road comprises urban solutions provider Ascendas-Singbridge Group and its Japanese joint-venture partners Mitsui & Co and Tokyo Tatemono Co. Ascendas-Singbridge will hold a 65% stake in the consortium, with Mitsui and Tokyo Tatemono holding the remainder.

Singapore is the second-most important destination in the world for Asian ultra-high-net-worth individuals (UHNWIs) when it comes to real estate investments, according to the latest edition of Knight Frank’s Wealth Report 2017, released on March 1. The UK remains the top destination, followed by Singapore, Hong Kong, China and the US.

The picturesque Jurong Lake area is turning into the residential area of choice for those staying in the western part of Singapore. Not only do the residents of the condominiums surrounding Jurong Lake enjoy a scenic view, the serene neighbourhood also provides them with respite from the hustle and bustle of city life.

The DC rates for commercial use rose 1.3% on average, with the largest increase of 29% was in the Shenton Way/Raffles Quay/ Marina Bay Financial Centre area.

Value hunters are spoilt for choice when it comes to house-hunting in the prime residential districts. A total of 42 transactions in the S$900,000-to-S$1.1 million range were recorded in prime Districts 1, 2, 9, 10 and 11 from October 2016 to January to date. These transactions were mainly for units of 420 to 861 sq ft.

When Malaysia-listed developer Selangor Dredging Bhd (SDB) announced early last month that it was buying a freehold site in Serangoon Road from National Aerated Water Company for S$47 million, it brought attention to a neighbourhood off Serangoon Road that has been overlooked for some years.

The stretch of Singapore’s East Coast Road flanked by Mountbatten Road on one side and Joo Chiat Road on the other has seen a huge transformation in recent years. Many of the commercial buildings have changed hands, with some undergoing either major refurbishment or redevelopment.

Keppel launched the first data centre real estate investment trust (REIT) in the country called Keppel DC REIT, which was listed on the Singapore Exchange in December 2014

Homebuyers and investors who have been waiting on the sidelines for the government to tweak the property cooling measures before committing to a purchase will have to wait a little longer.