Some developers say they will hold back on bidding for new executive condominium (EC) sites in the future unless they have very good potential, as the risk profile of ECs has gone up following a series of new restrictions imposed by the Government. According to Evia Real Estate, which is jointly developing the Lake Life EC in Jurong, the segment now poses higher risks to developers. Mr Vincent Ong,...
General
Family members who wish to buy the tail end of the lease sold to the Housing Development Board (HDB) as part of the Lease Buyback Scheme (LBS) upon the death of their parents are able to do so - depending on their eligibility to buy a HDB flat, said Minister of National Development Khaw Boon Wan in Parliament on Tuesday (Oct 7). He said this in response to a question by Aljunied GRC MP Chen Show Mao,...
The educational qualifications of the average real estate and insurance agent has increased in the past 10 years, Manpower Minister Tan Chuan-Jin noted in written responses to questions in Parliament on Tuesday (Oct 7). As of 2013, about two in three property agents had attained at least a diploma - up from two in five in 2003. In the insurance sector, about four in five agents had attained a diploma or...
Lake Life, the second executive condominium (EC) project to go on the market this year, has 546 units on offer. But it has already received more than 1,200 e-applications after just three days of opening. Lake Life is located in the Jurong Lake District. Units there are expected to go at around S$880 to S$890 per square foot. The project is being developed by a consortium led by Singapore property...
The Housing Development Board (HDB) is studying two possible solutions to bring direct lift access to more households. This was announced in a written reply by the Ministry of National Development (MND), in response to questions from MP for Hougang, Mr Png Eng Huat, on Tuesday (Oct 7). Mr Png had asked for an update on the new technology and solutions in place to provide direct lift access to those not...
Between January 2013 and June 2014, a total of 1,312 households were granted an HDB loan, even though they had already taken two HDB loans previously. They were among the 25,000 households who were granted mortgage loans during that period. The National Development Ministry said households who were granted more than two loans are exceptions to the rule, and HDB evaluates such requests on a case-by-case...
Luxury project Marina One Residences at Marina Bay is set to be launched next weekend, with its developer planning to release between 150 and 200 units in its first phase. Its developers said many of those who have expressed interest are looking at buying a unit for investment. Units are expected to go for between S$1,960 and S$3,100 per square foot. With two 34-storey residential towers, there will...
As the old adage goes, there are three things that matter in real estate: Location, location and location. This saying is spot on, as any real estate agent, developer, property investor or urban planner will tell you. Location, not the physical home, is the most important factor in determining the value of a home. A dilapidated home in a desirable neighbourhood is worth more than a pristine one of...
The Housing and Development Board (HDB) on Thursday (Oct 2) awarded the land parcel at Sembawang Road and Canberra Link to Qingjian Realty (Residential). The developer's bid of S$229.38 million was chosen by the HDB, over the combined bid of S$208.5 million by Verwood Holdings and TID Residential. The land site is for executive condominium (EC) housing development, and has a lease term of 99 years....
The former Joo Chiat Police Station will be re-developed into a complex with two hotels, including what will be Singapore's first Hotel Indigo, the successful bidder for the site said on Wednesday (Oct 1). Hotel Indigo is a fast-growing chain of boutique hotels with design features that reflect the area's culture and history. The chain is managed by InterContinental Hotels Group (IHG), whose brands...