Private resale home prices down 1%

Posted on 30 May 2014 | Comments Off on Private resale home prices down 1%

With developers launching more new units in the market, resale prices of private homes slid further in April, according to the Singapore Residential Price Index (SRPI) published yesterday.

On a monthly basis, overall prices dipped by one percent in April compared to the 1.4 percent drop in the previous month, revealed the index compiled by the National University of Singapore (NUS)’s Institute of Real Estate Studies (IRES).

The suburban region saw the biggest decline of two percent, while resale prices in the central region remained flat. In March, resale prices in the suburbs and central region fell 1.1 percent and 1.8 percent respectively.

As for small units, or properties measuring up to 506 sq ft, resale prices declined by 0.6 percent versus the 0.2 percent dip in March.

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Works on new State Courts to start in June

Posted on 30 May 2014 | Comments Off on Works on new State Courts to start in June

Construction works on the new State Courts complex is expected to begin in June, following yesterday’s ground breaking ceremony officiated by Chief Justice Sundaresh Menon.

Slated for completion in 2019, the new complex will be in front of the existing octagonal-shaped State Courts and will cost around $450 million to build, according to media reports.

At 150m high, the complex is expected to house over 60 courtrooms and more than 50 hearing chambers, up from the 40 courtrooms and 28 hearing chambers in the present complex.

It will have two tower blocks – an administrative and a courtroom block – which will be connected by a series of sky bridges. The complex will also be eco-friendly with high-rise gardens and naturally ventilated corridors.

“This design intent aims to translate the vision of the State Courts, which is to inspire public trust and confidence through an effective and accessible justice system, into a physical representation,” said Chief Justice Menon.

Meanwhile, the current State Courts building will likely be conserved, and retrofitting works will commence once the new complex is ready.

Image (by State Courts): Artist’s impression of the new State Courts Complex.

Source: PropetyGuru

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