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 of...
Continue Reading • 25 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 City...
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
Vacant EC units up in Q2
The number of Executive Condominiums (ECs) left vacant significantly increased from around 726 units in Q1 2014 to about 1,634 units in Q2 2014, according to Urban Redevelopment Authority (URA) figures reported in the media. This translates to a vacancy rate of 12.2 percent, or more than twice...
Continue Reading • 19 Aug 2014
92 households took up the Silver Housing Bonus scheme
HDB revealed 92 households have benefitted from its Silver Housing Bonus scheme since it was introduced in February 2013, reported the media. Among those who benefitted is Choy Mui Leng. The 66-year old retired nurse tapped on the scheme by selling her four-room flat in Sengkang, and purchasing a...
Continue Reading • 15 Aug 2014
Changing the construction productivity game
National Development Minister Khaw Boon Wan has laid out ways to speed up the adoption of “game-changing technologies” to boost construction productivity and reduce Singapore’s reliance on construction workers. In a blog post today, Mr Khaw said selected public sector projects will deploy such...
Continue Reading • 14 Aug 2014
Slight improvement in prime resale market
Singapore’s residential resale market activity within Districts 9, 10 and 11 registered a slight pick-up in sales volumes in Q2 2014, according to JLL’s Asia Pacific Property Digest for Q2 2014. The number of units sold rose 18.6 percent quarter-on-quarter (q-o-q) to 191 units,...
Continue Reading • 14 Aug 2014
No subsales from units bought in 2013
Buyers who bough private non-landed homes in uncompleted projects and then sold them in H1 2014 before the issuance of Certificate of Statutory Completion held their properties for a longer period due to the seller’s stamp duty (SSD), based on a research by Ngee Ann Polytechnic as reported...
Continue Reading • 14 Aug 2014
CDL's net profit slides 32.8%
City Developments Limited (CDL) recorded a 32.8 percent decline in its net profit in Q2 2014 from $205 million in Q2 2013 to $138 million. However, its core earnings (excluding divestment gains in H1 2013) increased by 89.7 percent to $137.9 million in Q2 2014 against $72.7 million for the same...
Continue Reading • 14 Aug 2014
Ho Bee Land reports 54% profit slump
Property developers facing challenging conditions. Singapore-listed developer Ho Bee Land suffered a net profit decrease of 54 percent year-on-year to $12.2 million in Q2 2014. But group turnover for the three months jumped to $26.8 million compared to $6.1 million during the same period last...
Continue Reading • 12 Aug 2014