Bellewoods, the first new executive condominium project in almost a year, opened for online applications on Saturday (Sep 27). The hiatus was because a new rule by the government last year requires developers to wait for 15 months after buying the land or completing foundation works before launching units for sale. More than 200 applications have so far been received for the project in Woodlands. The...
General
Teho International is moving deeper into the property sector. It announced on Thursday (Sep 25) that it had signed a non-binding letter of intent, to buy over ECG Group, a property development company, for S$17 million. Teho is a holding company mainly specialising in marine, offshore oil and gas. The proposed acquisition will allow Teho to expand its operations in the local and overseas property...
While the majority of Singaporeans own their homes, quite a number of them, especially among the retirees, are asset-rich but cash-poor. And their numbers are growing with our rapidly ageing population. Unless these retirees have other sources of income or can count on the financial support provided by their children, they will have to find ways to monetise the value of their homes. Downgrading is...
The local property auction market rebounded in the third quarter of 2014 on stronger residential sales, according to a report by real estate consultancy Jones Lang LaSalle (JLL), released on Thursday (Sep 25). It said nine properties were successfully auctioned in the July-September period. While this is similar to the previous quarter, the sales value was significantly higher. JLL said in the report...
Two land sites, with an estimated yield of 1,000 housing units once developed, will be released this month by the Urban Redevelopment Authority (URA) and Housing and Development Board (HDB). In a joint press release on Thursday (Sep 25), the agencies said that the two sites will be launched under the second half of the Government Land Sales (GLS) Programme for this year. A residential with...
Ascendas Hospitality Trust is in talks with a number of parties to sell the Pullman Cairns International hotel, the largest five-star hotel in the Australian city's central business district. The hospitality real estate investment trust said on Wednesday (Sep 24) that the potential sale of the Cairns hotel is in line with its strategy of considering whether assets are ready for divestment to free up...
To prevent their agents from running afoul of Do Not Call (DNC) Registry rules that came into effect on Jan 2 this year, real estate agencies here have put in place training sessions, policies and hardware solutions to help them understand the rules under the Personal Data Protection Act (PDPA). The Act, which came into full force on July 2, bars firms from marketing to phone numbers listed in the DNC...
The Republic is expected to top the rental forecast for Asia Pacific cities, with a 25 per cent increase in office rents from 2014-2019. This is according to a report from property consultancy Knight Frank, released on Wednesday (Sep 24). The increase will push Singapore to fourth place on the Knight Frank Global Cities index, behind San Francisco, Madrid and New York in terms of rental forecast. The...
Existing flat owners who “right-size” to a new two- or three-room flat in a non-mature town or estate can now choose to pay a lower downpayment upfront, the Housing and Development Board (HDB) said on Wednesday (Sep 24). This new staggered downpayment arrangement takes effect from the latest Build-to-Order (BTO) exercise, which began on Wednesday. Flat owners who are not taking up a loan or who...
Located at the junction where Upper Serangoon Road meets Macpherson Road, The Venue Residences and Shoppes is conveniently close-by major roads as well as key expressways: PIE, CTE and KPE. Just a three-minute walk away, Potong Pasir MRT Station on the North East Line is a gateway to seamless connectivity. Enjoy panoramic views of the city as well as the surrounding landed estate with a thoroughly modern...