The Singapore Residential Price Index (SRPI) boosted by 1.2% m-o-m in April, speeding up from the 0.2% development visited the previous month
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The Singapore Residential Price Index (SRPI) increased by 1.2% m-o-m in April, based upon flash quotes released on May 30, speeding up from the 0.2% development visited the previous month. The April numbers stand for a 7.9% y-o-y boost.
Urban Redevelopment Authority has chosen a developer for the Reserve Residences Far East Concept Tender
The Reserve Residences are located near Bukit Timah Nature Park, making them a perfect place for nature lovers. This project is near the Beauty World MRT station and is suited for both families and young couples. The developer has a track record of developing prime residential properties, including the famous ONE Singapore. It has received numerous awards and accolades and is the largest private developer in Singapore.
After a successful bidding process, the Urban Redevelopment Authority has chosen a developer for the Reserve Residences Far East Concept Tender. The developer, CDL, bid $712.6 million for the project, which is eight percent higher than the second highest bidder. Details of the winning developer will be announced later, but it is expected to be finished by June 2020. Until then, you can check out the winning concepts.
As previously announced, the Reserve Residences Far East Concept Tender by the URA has invited developers to submit concept proposals for the development of this mixed-use development. Successful concepts should integrate public amenities, pedestrian networks, quality interiors, and integrated public amenities. The winning concept will then undergo evaluation before a final award decision is made. Construction is anticipated to start in 2022, but it is not yet clear when.
Read also: Private home prices see sharp stagnation in growth, up 0.4% in 1Q2022: URA flash estimates
The SRPI, tracked by the Institute of Real Estate as well as Urban Studies (IREUS) at the National University of Singapore (NUS), gauges price movements of personal non-landed houses in Singapore. Especially, the index tracks a basket of 759 exclusive domestic tasks that were completed in between October 2003 and September 2021.
Costs for properties, excluding tiny devices, in both Central as well as non-Central areas showed m-o-m rises. In April, prime residential or commercial properties in the Central area, located in Districts 1 with 4 and 9 through 11, logged a 0.6% development m-o-m compared to the 0.4% increase in March while homes in non-central locations saw a 1.6% boost m-o-m, more than the 0.1% growth visited March.
Costs of little buildings saw a 1% boost m-o-m, recoiling from the 0.1% decline recorded in March. IREUS specifies tiny systems as those with a flooring location of 506 sq ft or listed below.
