PROPERTY appears to be evolving into a currency play with investors hoping to benefit from the rise and fall of exchange rates. Australian Property Group (APG), which took out a full-page advertisement in The Straits Times on Saturday to market a luxury condominium in Australia, say they have already sold 60 units of the 90-unit development. A spokeswoman for APG said that most of the buyers were...
2009
I AM in a situation which is one I am sure, more than a handful of HDB flat buyers are in too, particularly in this economic downturn. This problem permeates almost every residential estate, with no effective solution in sight. Perhaps the solution is in the form of prevention, not cure. Late last month, I collected the keys of my HDB resale three-room flat. The paperwork had proceeded smoothly and the...
UNITED Overseas Bank has become the first in Singapore to tie up with Singapore Post to distribute HDB home loans, extending its mortgage services beyond its 57 branches. In recent years, more banks have started offering their services in non-traditional spaces - such as train stations, convenience stores and petrol kiosks - to reach out to customers. Yesterday, UOB said its HDB home loans will be, for...
HARRY'S Holding, the largest bar chain operator here, is looking to buy a small hotel in Singapore as its food and beverage business is saturated, the company told Reuters. Chief executive Mohan Mulani said the firm - listed on Phillip Securities‚ OTC Capital - was looking for opportunities, but not looking to open more F&B outlets. Instead, he wants to buy a small boutique hotel with around 70 to...
Despite the recent pickup in activity in the residential property market, developers may start offering even greater incentives to attract buyers. Analysts say it is still too early to say for sure that the market has hit bottom, and developers may have to do more if conditions weaken. A new project, Double Bay Residences, has been launched for sale, and like several recent offerings, the developer is...
Industry watchers said rentals for industrial properties could fall by three to five per cent in the first quarter this year, due to weaker demand and the dismal economic outlook. On the whole, analysts did not expect landlords to cut rents outright. Instead, the landlords might choose more innovative measures to help their tenants cope with the tough times. Manufacturers and exporters had been seeing...
To cope with an ageing population, Singapore is looking into make it easier for the elderly to move around. And come 2010, barrier-free features will become a reality at the MacPherson Gardens Estate under the estate upgrading programme. Some of these features include brightly-coloured markings on the floor to highlight changes in levels and direction of roads, gentle slopes and ramps, as well as...
IN A bid to increase its slice of the housing pie, Maybank has rolled out a three-year fixed-rate loan package with first-year interest at 1.6 per cent - the lowest of its kind in Singapore. With second- and third-year interest at 2.2 and 2.9 per cent respectively, that works out to an average of 2.23 per cent per annum over three years. This is even lower than the HDB‚s concessionary rate of 2.6 per...
ARE retailers on the verge of crisis or not? As their representative body cries out for help, shoppers who rub shoulders in crowded malls on weekends may be wondering. And at least one major landlord insists, there is no reason to panic, and no justification for an across-the-board cut in rentals. Last week, the Singapore Retailers Association sounded the alarm bells Sales have dropped 20 to 30 per cent...
WE REFER to the letters, "The social and financial impact of no-frills flats, estates" and "DBSS contractors will only sell at a profit" (Feb 11). HDB is mindful to ensure the affordability of public housing even as they are equipped with the essential amenities and basic finishes. We agree that children‚s playgrounds and neighbourhood parks are necessary to serve the needs of HDB residents, especially...