A tribunal has ruled that M+S Pte Ltd - a joint investment company co-owned by Malaysia's Khazanah Nasional and Singapore's Temasek Holdings - will not have to pay development charges on land formerly occupied by Malayan Railways (KTM) in Singapore. Singapore Prime Minister Lee Hsien Loong welcomed the decision, saying on Friday (Oct 31) that he was "happy that Singapore and Malaysia have been able to...
General
Young couples will get more help in setting up their first home, with several enhancements to the Parenthood Provisional Housing Scheme (PPHS), the Housing and Development Board (HDB) announced on Friday (Oct 31). Under the scheme, couples and families have the option of renting an HDB flat while waiting for their new Build-To-Order (BTO) flat to be ready. The number of flats in the scheme will be...
Signalling that the Government is not intending to relax property cooling measures any time soon, Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said on Tuesday (Oct 28) there is “some distance to go in achieving a meaningful correction”. “If we do not get a meaningful reversal after each upswing, property prices will run ahead of the growth of household incomes over the long...
JTC Corporation has launched three land parcels for sale under the Industrial Government Land Sales (IGLS) programme - two Confirmed List sites at Tuas South Street 9 and Tanjong Penjuru, and one Reserve List one at Tuas South Street 7. In a news release on Tuesday (Oct 28), JTC said all three sites are zoned for Business-2 development. The 0.8ha site at Tuas South Street 9 has a tenure of 20 years and...
The Urban Redevelopment Authority (URA) on Tuesday (Oct 28) announced in a media release that a second land parcel in Paya Lebar Central has been launched for sale by public tender. In Jan 2011, the first sale site was launched for tender for commercial use. With a 99-year lease period, URA said the 39,000sqm site located next to Paya Lebar Interchange MRT station will be an accessible location for...
Resale prices of private homes slid in September according to Singapore Residential Price Index (SRPI) estimates, which were released on Tuesday (Oct 28). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices fell 0.7 per cent in September from the previous month. In August, prices rose 0.2 per cent from a month earlier. Prices of homes...
Refurbishment businesses have been affected by the slow property market in Singapore. According to the Renovation and Decoration Advisory Centre (RADAC), which represents about 80 industry players, some firms have seen business drop by up to 50 per cent compared to three or four years ago when the property market was booming. Homeowners seem to have a smaller appetite for lavish renovation works as...
A construction company and its director were each ordered to pay more than S$193,000 in penalties and fines for failing to account for GST on a property sale. In a press release issued on Wednesday (Oct 29), IRAS said the company, Junling Construction & Engineering, had sold a non-residential property at Woodlands Industrial Park on Feb 9, 2011. The buyer paid the company S$1.38 million for the property...
Within three weeks of changes being announced to the Lease Buyback Scheme on Sep 3, the Housing and Development Board (HDB) received 500 queries, almost thrice the number they receive in a typical month. The Lease Buyback Scheme allows eligible seniors to retain part of the lease on their HDB flat, and sell the remainder back to HDB for retirement income. HDB says it has about 250 officers who are able...
Investors in Singapore will soon get a chance to own slices of iconic Singapore properties like Chijmes and Capitol Singapore. Perennial Real Estate Holdings, which owns these assets, has completed its reverse takeover of Catalist-listed night-spot operator St James Holdings on Monday (Oct 27). However, the trading of its shares - which will be promoted to the mainboard of the SGX - is only expected to...