We are reminded regularly that one in five Singaporeans will be over the age of 65 come 2030. Immigration policies and the mix of new Singaporeans can alter our demographics, but the total number of senior citizens will certainly increase. In public housing, the Housing and Development Board (HDB) already has several schemes catering for the elderly. But a pilot project was introduced in 2012 on the...
General
The Housing and Development Board (HDB) has introduced a quota on subletting of whole flats to non-citizen subtenants. It said the move is to prevent the formation of foreigner enclaves in estates and maintain the Singaporean character of the heartlands. HDB flat owners who lease out whole units to foreigners will be bound by the new rule, with immediate effect. The quota on subletting of whole...
Sales of new private homes plunged nearly 80 per cent in December compared to a month ago, as developers held off new property launches. According to data from the Urban Redevelopment Authority (URA), just 259 units of new private homes were sold in December, down from 1,228 units transacted in November. Among the units sold, 125 are located in the suburban areas, 90 units in the city fringe, and 44...
A sales tender for a private residential site at Upper Paya Lebar Road has attracted seven bids, said the Urban Redevelopment Authority (URA) on Tuesday. UOL Overseas Investments submitted the top bid of S$392.3 million for the 99-year leasehold site. The bid was about 3.7 per cent more than the second highest bid of S$378.3 million from EL Development. The lowest bid of about S$205.9 million was...
Property agency PropNex has launched a new fund to invest in real estate at the development stage in a partnership with fund management company Infiniti Asset Management. PropNex says the new fund - Infiniti Real Estate Strategies Fund - is designed to co-invest with developers in land bids for both local and overseas projects. These include executive condominiums and commercial properties in...
OUE Commercial REIT is set to be the first major initial public offering (IPO) in Singapore this year. It will also be the first among a slew of trust listings -- including the ones planned by Korea's Lotte Shopping and Keppel's data centre unit -- that's headed for the Singapore bourse. Overseas Union Enterprise (OUE) has started taking orders for its S$400 million REIT listing. The IPO is priced...
Rents for non-landed private housing in Singapore continued to slide last month to their lowest level in two years, and landlords may find it increasingly difficult to secure tenants, with more supply entering the market in the coming months, analysts said. Rents for condominiums fell 1.3 per cent last month, the fifth straight monthly decline, to their lowest level since December 2011, a preliminary...
rices of resale private homes fell for a fourth month in December as prices weakened by a further 0.2 per cent, according to the latest data from the Singapore Real Estate Exchange (SRX) which compiles data from property agencies in Singapore. The city area saw the steepest decline at 2.3 per cent, followed by the suburban region, which dipped 1.0 per cent. Resale prices of private homes in the city...
Despite rising interest rates and a capital gains tax to be implemented in the UK in 2015, Singaporean investors' appetite for properties in London remains strong. In addition, buyers are getting younger too. A serious housing shortage has pushed up average property prices in London by over 25 per cent over the last four years. Colliers International expects London property prices to ease over the...
Some of Singapore's iconic black and white bungalows continue to stay vacant, as the authorities find it difficult to attract residential tenants. House number 7 along Gallop Road has been launched three times for bidding, but in the last six months, there haven't been any takers. The 106-year-old house was built during the colonial era, and its monthly rental is more than S$50,000. The “Atbara...