THE successful launch of two condominium projects in March has lent a boost to new-home sale transactions in Singapore. This has also reinforced the market's belief there remains strong underlying demand for good-quality residential properties at the right price, despite the quiet months of January and February. According to data released by the Urban Redevelopment Authority (URA) on Friday,...
General
Prices of condominiums sold on the resale market edged up 0.3 per cent in March, while the number of units sold spiked 47.6 per cent, according to a local property index. Non-landed private residential units in the Outside Central Region led the rise, with a 1.3 per cent in resale prices, SRX Property said. Resale prices of units in the Rest of Central Region edged up 0.1 per cent in resale prices,...
Rental prices for Housing and Development Board (HDB) flats and non-landed private properties continued their downward trend in March, led by private apartments in the city fringes. Rental prices for private apartments fell by 1 per cent in March compared to the previous month. Year-on-year, rents were down 5.3 per cent, according to flash estimates by SRX Property. Private apartments in the city...
The breakdown of a partnership between Capitol Singapore's shareholders has led one of its shareholders, Perennial Real Estate, to apply for the holding companies to be wound up. The three companies - Capitol Investment Holdings, Capitol Retail Management and Capitol Hotel Management - together hold the assets of Capitol Singapore, an integrated development located at the junction of Stamford Road and...
PERENNIAL Real Estate Holdings (PREHL) has filed applications for the Singapore High Court to wind up three associated companies related to its integrated development, Capitol Singapore at City Hall, due to a deadlock with its partner. The three firms are Capitol Investment Holdings, Capitol Retail Management and Capitol Hotel Management. The applications were made because "the shareholders and...
It is “too early to declare victory” and unwind the property cooling measures currently in place, said Minister for National Development Lawrence Wong in the Committtee of Supply debate in Parliament on Monday (Apr 11). Responding to MPs who had called for the cooling measures to be lifted, Mr Wong explained that while the measures “have been effective in stabilising the property market”,...
Developers will be required to incorporate the needs of pedestrians and cyclists in their plans, announced the Ministry of National Development (MND) on Monday (April 11) as it unveiled further plans to move Singapore towards a “car-lite, people-friendly” city. Minister for National Development Lawrence Wong said the Land Transport Authority (LTA) and Urban Redevelopment Authority (URA) will require...
The Urban Redevelopment Authority (URA) has formalised a programme that will provide up to S$10,000 in seed funding for community-initiated projects to enliven public spaces, it announced in a news release on Monday (Apr 11). The programme called Our Favourite Place will facilitate community interactions and more people to experience and enjoy interesting public spaces, URA said. In order to...
Heartland retailers will receive greater financial assistance for upgrading works under the enhanced Revitalisation of Shops (ROS) scheme, announced the Ministry of National Development (MND) on Monday (April 11). The upgraded ROS package, which will cost about S$15 million yearly, was first revealed by Finance Minister Heng Swee Keat in his Budget statement last month. Since 2007, about half of all...
Details of the Fresh Start Housing Scheme, which aims to help second-timer families in rental flats buy a home, were released on Monday (Apr 11). Minister of National Development Lawrence Wong said his ministry aims to introduce the scheme by the end of the year. Speaking in Parliament as part of the Committee of Supply debates, Mr Wong said that the scheme targets parents with school-going children....