Empty homes on the rise in S'pore
The number of vacant private homes in Singapore is steadily rising, climbing 10.3 percent to 21,268 units in Q2 2014 from 19,284 units in the previous quarter, revealed a Savills report. Notably, the vacancy rate rose to 7.1 percent from 6.6 percent in Q1. The greater number of empty units...
Continue Reading • 25 Aug 2014
New MRT stations to push up prices in East Coast
The recent unveiling of the names and locations of nine MRT stations on the future Thomson-East Coast Line (TEL) is expected to improve rentals of existing and new residential developments along the East Coast, in turn leading to potential capital growth, revealed an OrangeTee report.
Continue Reading • 25 Aug 2014
More than half of 2-room BTO flats sold to singles
Out of more than 5,200 two-room Build-To-Order (BTO) flats in non-mature estates available, 2,765 units have been bought by singles since they were allowed to buy such properties directly from HDB last year, said media reports. This surpasses the 1,550 units allocated for this group. These...
Continue Reading • 25 Aug 2014
Seniors worry about outliving lease
The Pioneer Generation Joint Committee could look into the Lease Buyback Scheme in order to fine-tune this monetisation option and provide more clarity on its rules, according to media reports. Under the scheme, seniors may sell the lease of their HDB flat to the government, while keeping the...
Continue Reading • 25 Aug 2014
New MND arm for municipal services from October
The Municipal Services Office (MSO) will be set up on 1 October 2014 to improve the government’s overall coordination and delivery of municipal services. The office will be part of the Ministry of National Development (MND), and, Minister at Prime Minister’s Office and Second Minister for the...
Continue Reading • 25 Aug 2014
Eye on Yishun: Star of the north
Although Yishun was established more than 30 years ago, the northern town is not showing any signs of ageing, as Muneerah Bee finds out. In earlier days, Yishun was home to various pepper and pineapple plantations. Named after industrialist and rubber magnate Lim Nee Soon, Yishun became one...
Continue Reading • 25 Aug 2014
Leasing demand hits new high, but rents still sliding
Bucking the trend of a slowdown in Singapore residential sales, rental volumes surged 12.2 percent quarter-on-quarter to reach a high of 15,053 transactions in Q2 2014, according to a Savills report. Year-on-year, this is a growth rate of 5.2 percent. For the first six months of 2014, a...
Continue Reading • 22 Aug 2014
Pros and cons of subletting, lease buyback scheme
Singaporeans aged 55 and above who live in HDB addresses have two options if they want to monetise their property, said experts quoted in the media. They can sublet their unit but this option is only available to those with a room to spare, while those with other living quarters can rent out...
Continue Reading • 22 Aug 2014
Cluster homes to get more space, greenery
In an effort to improve the quality of life for residents in landed housing estates, the Urban Redevelopment Authority (URA) has fine-tuned the guidelines for strata landed housing developments, commonly known as cluster homes.
Continue Reading • 22 Aug 2014
En bloc sales still relevant: report
Despite the standstill in Singapore’s en bloc market, collective sales are still a relevant option for property developers to replenish their development pipeline and for owners to exit from their ageing assets, according to a media report quoting Colliers International. However, Colliers...
Continue Reading • 22 Aug 2014
URA awards Potong Pasir site to MCC Land
A commercial and residential site at Meyappa Chettiar Road in Potong Pasir (pictured) has been awarded to MCC Land after the developer submitted the highest bid of $471.16 million in the tender for the site, according to the Urban Redevelopment Authority (URA). Launched for sale on 30 April...
Continue Reading • 21 Aug 2014
Sentosa Cove feels brunt of property cooling measures
Sales of non-landed homes in Sentosa have declined significantly in the last three years, as government measures such as the Additional Buyer’s Stamp Duty (ABSD) and the Total Debt Servicing Ratio (TDSR) framework continue to bite, said media reports. Based on URA data, only 10 non-landed...
Continue Reading • 21 Aug 2014
HDB rents to remain soft for the rest of 2014
Rents for HDB flats are expected to remain depressed for the rest of the year, on the back of sluggish demand and rising supply of flats, said property analysts and reported in the media.
Continue Reading • 20 Aug 2014
15 bids for Potong Pasir site
A commercial and residential site at Meyappa Chettiar Road received 15 bids, with MCC Land submitting the highest tendered sale price of $471.6 million, translating to $8,343.82 psm of GFA. Measuring 16,149.3 sq m and offered on a 99-year lease term, the land parcel located is near NEX and...
Continue Reading • 20 Aug 2014
Housing may be built on Jurong industrial plots in future
At the National Day Rally on 17 August, Prime Minister Lee Hsien Loong said he has been talking to Malaysian Prime Minister Najib Razak about siting the terminus for the High Speed Rail (HSR) in Singapore in the Jurong Lake District. “So we are discussing with the Malaysians, we have not...
Continue Reading • 20 Aug 2014
July home sales flat after dropping in June
July's developer sales stayed flat month-on-month and year-on-year (y-o-y) at 484 units, which brought year-to-July sales to 4,893 units, down 53 percent y-o-y from 10,432 units in 7M 2013, according to a recent report by Barclays Bank, Singapore. Two out of the four new launches, City Gate...
Continue Reading • 20 Aug 2014
Singapore's new four-in-one depot to be the world's first
Singapore will have the world's first four-in-one train and bus depot, according to the Land Transport Authority (LTA) in a statement on 15 August. Measuring 36 hectares, this first-of-its-kind depot will house 550 buses, as well as 220 trains for the Thomson-East Coast Line (TEL), East-West...
Continue Reading • 19 Aug 2014
Upcoming gems in Jurong
National Parks Board (NParks) will develop the Jurong Lake Gardens into a garden for the community, National Development Minister Khaw Boon Wan said in a blog post yesterday. Spanning over 70 hectare, the Jurong Lake Gardens will integrate Jurong Lake Park, the Chinese Garden and the Japanese...
Continue Reading • 19 Aug 2014
New Municipal Services Office to address estate issues
A Municipal Services Office (MSO) will be set up as a single authority to coordinate various government agencies to focus on service delivery. Agencies include HDB, Land Transport Authority (LTA), National Environment Agency (NEA), National Parks Board (NParks), PUB, Police, People's...
Continue Reading • 19 Aug 2014
Savills rebrands property management arm
The move will reinforce the Savills brand in Singapore and the region. Global property consultancy Savills has rebranded its property management business from SavillsCKH to Savills Property Management. The name change, along with a logo update, is expected to reinforce the Savills brand as...
Continue Reading • 19 Aug 2014