Read more TwentyOne Angullia Park Sold One Unit for $3,810 psf

TwentyOne Angullia Park Sold One Unit for $3,810 psf

Singapore’s economy in the next quarter of 2019 is estimated to have expanded much greater than initially anticipated and will probably stabilise in the forthcoming quarters, aided by a recovery in manufacturing, reported Thomson Reuters.

A survey conducted by Reuters covering 13 economists revealed that final gross domestic product (GDP) in Singapore will likely have increased a seasonally adjusted and annualised 2.1percent by the second quarter. This is greater than the 0.6percent increase in the government’s advance estimates.

The market saw a contraction of 2.7percent in the quarter earlier.

“Final third-quarter GDP is anticipated to be materially upgraded. Manufacturing came in much stronger than expected in September and services expansion probably picked up speed, particularly in finance, company and tourism-related services,” said Lee Ju Ye, Maybank Kim Eng economist.

By the prior year, economic growth is seen to be more adjusted to 0.5 percent, greater than the 0.1% indicated at advance estimates and the quarter earlier.

The nation’s expansion will also probably stabilise from the fourth quarter and recover next year.

“The pressure between the near-term stabilisation if not small pick-up in trade and lacklustre global capex remains, restricting the upside down to final demand,” said Sin Beng Ong, JP Morgan economist.

Read more Park Colonial comprises six 14 to 15-storey blocks sitting on a tranquility

Park Colonial comprises six 14 to 15-storey blocks sitting on a tranquility

While fresh private house sales appear to be on the rally, underpinned by higher costs of new launches and resilient demand amid an uncertain economic climate, the prognosis may not be as great for resale condos.

According to a report by OrangeTee & Tie, resale transactions have slowed and a few owners in the suburbs and city fringe areas may have reduced asking costs in the face of competition from brand new launches.

Cost gap expands, with fresh sales surpassing resales for the very first time in 3 years.

Read more Freehold Mont Botanik Residence in Hillview

Two industrial properties at 3 Leng Kee Road and 19 Leng Kee Road have been set up for sale by expression of interest (EOI), together with direct prices of $15 million and $23 million respectively. Both buildings are collectively and exclusively marketed by Knight Frank Singapore and Yeo & Yeo Properties.

Having a balance leasehold of 33 years, the construction at 3 Leng Kee Road is a two-storey workshop/showroom cum office construction. It has a land area of about 16,217 sq feet, and floor area of 14,778 sq ft. Now under mild industrial usage, it has a car showroom and workshop around the floor level. The standalone, detached construction is presently tenanted from Stuttgart Auto.

At 19 Leng Kee Road, the house is a five-storey showroom cum factory construction, using a half-basement carpark.

According to this 2014 Master Plan, the website is zoned”industrial (B1)”, using an allowable gross plot ratio of 2.5. The spaces can be repurposed for various applications such as furniture/electronics display on the floor flat, self-storage, car accessory companies, and sometimes even e-commerce.

Redhill MRT Station and mature housing estates are inside a five-minute walk away for the two possessions, and no ground rent is payable for them.