Daily Briefing: LTA cuts number of shared bikes by half; Two weekend condo launches see 40% conversion rate

And a two-bedroom condo in the CBD are the world’s second costliest.

From Yahoo! News Singapore:

The number of shared bicycles in public places will be cut by half, after the LTA said it will issue licences to six bicycle sharing operators that had applied for licences, for a total fleet size of 55,500 bicycles. There are currently more than 100,000 shared bicycles in Singapore. LTA said “about half of the (shared bicycle) population is not actively used”.

Three operators were granted full licences. Chinese firms Mobike and ofo can operate 25,000 bicycles each, whilst Singapore firm SG Bike can operate 3,000 bicycles.

Three operators were granted sandbox licences, given their lack of experience operating in Singapore, said LTA. Anywheel and Grabcycle can each operate 1,000 bicycles, whilst Qiqi ZhiXiang can operate 500 bicycles.

Read more here. 

From icompareloan:

Two new condominium launch over the weekend saw 40 per cent conversion rate. The 215-unit Mayfair Gardens and the 428-unit The Jovell are the new condominium launches which saw healthy sales considering the latest property curbs.

Mayfair Gardens, an exciting new condominium launch by the award-winning developer Oxley Holdings, is set to open for preview this weekend (15-16 Sep). Located in 2 Riffle Range Road, District 21, the site (formerly known as Mayfair Gardens) was acquired at a whopping $311 million plus an additional $52 million as lease top-up premium for a fresh 99 years. 

Meanwhile the new condo launch at The Jovell saw an an estimated 100 cheques were collected as expressions of interest. Based on the 40 units sold over the weekend, it reflects a conversion rate of 40 per cent. As a percentage of total units in the project, The Jovell sold about 9.3 per cent of the 428 units at the development.

Read more here.

From Property Guru:

Two-bedroom condo units in Singapore’s central business district (CBD) cost approximately £781,000 (S$1.4 million) on average, revealed a study by UK based personal finance website www.finder.com. This makes the cost of owning such a home the second most expensive in the world.

Amongst the 91 countries studied, Singapore was only surpassed by Hong Kong, where two-bedders in the city centre are priced at £1,280,000 (S$2.3 million). This is significantly higher than Singapore’s average price by a whopping 64 percent.

Read more here.