General

Singapore investors have spent in total US$4.6 billion (S$6.3 billion) on cross-border real estate transactions in the 12 months through to the second quarter of this year. According to a report released by Real Capital Analytics (RCA), a real estate and market intelligence provider, it ranked Singapore investors as the second most active in Asia-Pacific during the reported period. One of the top...

The multi-pronged approach that the Government outlined this past week to resolve issues regarding the dwindling leases of HDB flats has by and large been well received by Singaporeans. The new announcements by Prime Minister Lee Hsien Loong at the National Day Rally (NDR) could not have been more timely. Concerns over depleting leases have plagued the HDB resale market, with demand for ageing flats...

More properties were auctioned in the first half of the year but the sales value was down markedly on the same period last year due to the lack of big-ticket landed units. Transaction value came in at about $39.6 million, a fall of 11.2 per cent compared with the same six months last year, a Knight Frank report showed. It noted that demand for large quantum properties remained patchy due to the...

It would be "unproductive" to play up expectations of homeowners due to the recently announced Voluntary Early Redevelopment Scheme (VERS) - a scheme to take back old Housing Board flats before their leases end, said National Development Minister Lawrence Wong on Tuesday (Aug 21). "All of us, including the media, (have) to make sure that we don't play up expectations of the market or ... get people all...

Singapore property is likely to retain its lustre as a preferred choice for long-term wealth creation due to the city-state's regional hub status, solid growth prospects and Asians' deep-seated desire to own property. Analysts gave this affirmation as the dust starts to settle on the latest cooling measures which took effect on July 6. The amended rules saw higher Additional Buyer's Stamp Duty (ABSD)...

A conservation shophouse in Boon Tat Street has been put up for sale via an expression of interest exercise with price expectations of around $17 million. The shophouse in the Telok Ayer Conservation Area has permanent food and beverage (F&B) approvals granted for both floors, and houses the Michelin-starred restaurant Cheek by Jowl. The 999-year leasehold site has a land area of 1,759 sq ft and the...

An associate of OKP Holdings has won the tender for the collective sale of 32-unit Phoenix Heights in Bukit Panjang, the mainboard-listed construction engineering company said on Tuesday. The 25 per cent-owned USB Holdings Pte Ltd bid S$33.1 million for the 99-year leasehold condominium in Phoenix Avenue, with the price reached "after taking into account the prevailing market conditions and market...

A programme to upgrade every Housing Board flat after 60 years should be planned such that it does not take place in blocks right before they undergo a new voluntary redevelopment scheme, said experts and MPs. Their comments come a day after the National Day Rally, when Prime Minister Lee Hsien Loong announced the multi-billion dollar Home Improvement Programme (HIP) II. It upgrades all flats that are...

The new housing schemes announced by Prime Minister Lee Hsien Loong on Sunday (Aug 19) could see older flats retain their value for a longer period of time and become viable alternatives for prospective buyers, said analysts. In his National Day Rally speech, Mr Lee said that the Home Improvement Programme (HIP) will be expanded to cover more Housing and Development Board (HDB) flats, to include those...

The Lease Buyback Scheme will be extended to all Housing and Development Board (HDB) flats, including five-room and larger flats, National Development Minister Lawrence Wong announced on Monday (Aug 20). The Lease Buyback Scheme allows elderly flat owners to sell part of their remaining lease to HDB. It was originally applicable to four-room or smaller flats. In a blog post following Prime Minister...