Commercial real estate services and investment company CBRE has launched the sale of four freehold shophouses in MacPherson Road, with would-be buyers invited to express interest.
Rents for private condos and apartments last month fell 0.2 per cent, while Housing Board flat rents fell 0.8 per cent from the previous month, on the back of a fall in the number of homes leased out, according to flash estimates by real estate portal SRX Property yesterday.
The new cooling measures announced on Thursday night may well have doused the current bout of collective sale fever, with analysts expecting mega sites such as Braddell View, Mandarin Gardens and Laguna Park to face an uphill task in luring developers who have just been hit with heftier land acquisition costs.
More than 1,000 units were sold at three projects in just a few hours on Thursday night in a remarkable buying frenzy triggered by the imminent imposition of tough new cooling measures.
IN 2009, the S$500 million collective sale bid of Horizon Towers fell apart following a rancorous dispute among the owners, and the Court of Appeal's finding that the sales process was improperly handled.