HDB announced on Monday that it is introducing mandatory Resale Checklists for housing agents handling resale HDB flat transactions. The checklists cover a list of key policies and procedures that agents will need to advise resale flat buyers and sellers before they commit to a transaction. This is part of HDB's ongoing efforts to ensure that buyers and sellers are aware of relevant HDB purchase and...
General
Prices of mass market and mid-tier condominiums are expected to remain strong this year. But those of high-end residential properties could taper off by up to 10 per cent. And if you’re looking to buy, the market is in your favour, according to Propnex’s CEO, Mohamed Ismail Abdul Gafoore, in a speech to alumni members at the National University of Singapore. Despite the weaker market sentiments,...
For those with an eye on property, it’s a buyers market now, and home hunters who’ve done their homework may be able to snag some good deals, especially for those looking to upgrade. This, according to real estate agency Propnex’s CEO, Mohamed Ismail, who held a talk for alumni members at the National University of Singapore. Prices of HDB flats jumped 17 per cent in 2007 and it is set to continue...
A house buyer was cheated of S$5,000 when she was buying a five-room resale flat in Woodlands. Wong Git Siow said: "Since I was already buying the house, and... she (the flat owner) said she did not have enough money for the New Year, I did not mind giving her the $5,000 deposit." Ms Wong claimed that the flat owner changed her mind after receiving the S$5,000 deposit, and never returned the money. She...
Increasing presence in emerging markets makes CapitaLand a good bet for investors. With Singapore’s property market cooling, analysts are looking at developers which have bought substantially into other promising places. To many, CapitaLand could be a good bet for investors. Analysts say the company’s diversified business portfolio and increasing presence in emerging markets, including Vietnam and...
THE property agent of a condominium locked in an en bloc tussle had colluded with the potential buyer, and did not seriously negotiate for a higher price because of a “commission agreement”. So asserted a minority owner of embattled Horizon Towers, and in so doing, Ms Jasmine Tan - who represented herself in the High Court yesterday - applied for the minutes of meetings and correspondences between the...
US regulators should be more aggressive in dealing with the sub-prime crisis, according to Senator Paul Sarbanes, who is in Singapore for a business talk. Mr Sarbanes, who co-authored the Sarbanes-Oxley Act - hailed as the most far-reaching reforms of American business practices - said some mortgage lending practices should have never been allowed. US investment bank Bear Stearns is the latest...
Mainboard-listed Roxy-Pacific has nearly quadrupled its full-year net profit to S$19.3 million in its maiden results since going public. The specialty property and hospitality group is crediting this to the strong property market and robust tourism industry. Revenue more than doubled to about S$103 million. Looking ahead, Roxy-Pacific said it is optimistic about the Singapore property market and intends...
The Housing and Development Board (HDB) has received an overwhelming response to its second batch of Build-to-Order flats in Yishun. Jade Spring was launched on Tuesday, and as of 5pm on Wednesday, HDB received 771 applications for the 576 flats available. 715 of the applications were for the four-room units. The prices of the two, three and four-room units range from S$77,000 to $253,000. Interested...
Billion Rise - a company believed to be linked to Hong Kong property giant Cheung Kong Holdings - has put in the top bid of S$110.4 million for a residential site at West Coast Crescent. This works out to S$305 per square foot per plot ratio for the 99-year leasehold parcel. Analysts expect a break-even price of between S$680 and S$720 per square foot for a new condominium on the site. The units are...