HDB ensures affordability of flats for different groups Letter from LEONG CHOK KEH Deputy Director (Policy and Property) for Director (Estate Administration and Property) Housing and Development Board I REFER to the letter from Chan Han Jun, “A costly commitment” (Jan 8). The Design, Build and Sell Scheme (DBSS) was launched in 2005 to complement HDB’s sales scheme. The objective was to offer HDB...
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Singapore’s inflation might have hit a fresh 25-year high last month as imported food and energy costs soared. A Dow Jones Newswires poll of economists forecast the consumer price index to have risen 4.3 per cent from a year earlier in December, after increasing by 4.2 per cent in the previous month. November’s price rise was the fastest since 1982. Forecasts for the data, due at 1pm today, ranged...
Investors may emerge to pick up bargains following US rate cut INVESTORS across Asia stared in disbelief as stock markets yesterday haemorrhaged for a second day running on fears that a recession in the United States might plunge the world into its worst financial crisis in decades. The fears prompted the US Federal Reserve to slash its federal funds rate target by 0.75 percentage point to 3.5 per cent...
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But this won't dispel bear's shadow over loss-ridden markets WITH the world staring down the throat of what billionaire investor George Soros called its worst financial crisis yet, and its biggest economy driven to possible recession by fallout from sub-prime mortgage losses, the United States Federal Reserve yesterday slashed interest rates by 75 basis points — the biggest cut in 23 years. The central...
Singapore-listed Straits Trading Company is pumping in some S$60 million to build a new building. It will be developed on the site of the old Straits Trading Building and is expected to be completed in 2009. Agents for the New Straits Trading Building said they see strong demand for premium mid-sized office space. A new 28-storey Straits Trading Building will rise in the heart of Singapore's financial...
Chiu Teng Estates has put in the top bid of S$14.8 million for a 99-year leasehold commercial site at Jalan Sultan. This works out to S$10,480 per square metre per site area. It is also just S$1.2 million more than the second highest bid. The tender attracted 20 bids in all. Meanwhile, the Urban Redevelopment Authority has decided to reject the only bid submitted for the transitional office site at...
The makeover of their homes is welcomed, but would the weight on the wallets of the low-income be too much? Member of Parliament (MP) Cynthia Phua of Aljunied GRC raised this concern yesterday as Parliament debated proposals to usher in new upgrading programmes for public housing. The objective - repair works on ceiling leaks, for example, to spruce up ageing homes - was not in question. Even Opposition...
MPs debate whether to up $8,000 ceiling for DBSS buyers THEY are public housing flats designed, built and marketed by private developers, costing as much as $700,000 - which begs the question: Should not the $8,000 income ceiling for prospective buyers be raised? Taking up the issue of Design, Build and Sell Scheme (DBSS) flats in Parliament yesterday, Nominated Member of Parliament...
Asia is not likely to suffer a downturn over the next two years if the US does not fall into a full blown recession, Lehman Brothers forecast in its outlook for 2008. Investors all across Asia may be nervous about the outlook for the US economy, but the financial services firm is taking a positive stance. Lehman Brothers' global chief economist Paul Sheard said, "A lot of people, of course, are focusing...