His Design, Build and Sell Scheme (DBSS) flat was supposed to be of a higher design quality than a regular public housing unit, but Mr Andy Tan told TODAY he found his three-room unit at Trivelis in Clementi a “total disappointment”. Two sanitary pipes and a water heater, which were not depicted in the project’s showflats, were exposed and clearly visible in his kitchen, Mr Tan said. The living...
General
E-applications open on Friday (May 15) for Westwood Residences - a new executive condominium (EC) project in Jurong West which will be officially open for bookings on May 30. The 480-unit development at Westwood Avenue is the first EC to be affected by changes to resale levy rules. The resale levy now applies to EC buyers who had previously bought HDB flats or ECs. Westwood has an indicative pricing...
Rent prices for Housing and Development Board (HDB) flats dropped by 0.7 per cent month-on-month in April this year, according to the latest data released by SRX Property on Wednesday (May 13). Rent prices for 4-Room, 5-Room and Executive flats posted a 0.9 per cent, 1.3 per cent and 0.4 percent decrease, respectively. Bucking the trend were 3-Room flats, with a 0.4 per cent increase, the report...
City Developments (CDL) has booked a 2.8 per cent rise in net profit for the three months ended Mar 31, on the back of increased revenue from property development and hotel operations. The Singapore property developer's net attributable profit after tax and non-controlling interests was S$123 million in the first quarter, up from S$119.7 million in the same period a year ago. In a statement, City...
Non-landed private residential resale prices have slipped 0.7 per cent in April 2015 compared to a month ago, according to data by SRX Property released on Tuesday (May 12). Year-on-year, resale prices dropped 4 per cent from April 2014, and compared to the peak in January 2014, prices have fallen 6.9 per cent, the data showed. Resale prices of non-landed private homes in the Core Central Region and...
The outlook for Singapore's residential property market remains subdued, although there still are opportunities for well-placed and well-priced developments, according to mainboard-listed Frasers Centrepoint. "Projects with good locations and pricing continue to have the ability to attract buyers. It is clearly demonstrated by North Park Residences,” said Group CEO Lim Ee Seng at Frasers...
The Government, as a general principle, allows the market to operate without having to prescribe how landlords and tenants structure their leases, said Minister of Trade and Industry Lim Hng Kiang. Stepping in would lead to inefficient outcomes and make all parties worse off, he added. Mr Lim said this on Monday (May 11) in a written parliamentary response to a question by Member of Parliament Lee Bee...
All eyes will be on how the authorities rezone the parcel of land that will be acquired from Jurong Country Club (JCC) by November next year for the Kuala Lumpur-Singapore high speed rail terminus, and how much of the prized land around the station will be sold to private developers. Analysts said developers’ interest and the potential of the plot hinge on these decisions, as well as the cost of the...
The Kuala Lumpur-Singapore High Speed Rail terminus will be located at the current site of Jurong Country Club, announced the Singapore Land Authority, the Land Transport Authority and the Urban Redevelopment Authority in a joint news conference on Monday (May 11). This follows the announcement Prime Minister Lee Hsien Loong made last week after a bilateral retreat with his Malaysian counterpart Najib...
The Monetary Authority of Singapore (MAS) has warned about the potential risks of property oversupply overseas. Minister for Culture, Community and Youth Lawrence Wong said this in Parliament on Monday (May 11) in response to a question by MP Lee Bee Wah on how many Singaporeans are individual owners of properties in Iskandar Malaysia. Mr Wong was speaking on behalf of Deputy Prime Minister Mr...