Two hundred and fifty two residential property transactions by foreigners have been exempted from additional buyer's stamp duty (ABSD) since it was first introduced as a property cooling measure on 8 December 2011. These foreign buyers are from the US, Iceland, Liechtenstein, Norway and Switzerland which are countries having free trade agreements with Singapore. In a written response to a...
General
Demand for new private homes in Singapore surged nearly 54 per cent on-month in August, after the sharp decline seen in July. According to latest figures from the Urban Redevelopment Authority (URA), 742 new private homes were sold last month, compared to the 482 units transacted in July. The best-selling project in August was The Tembusu at Tampines Road with 218 units sold. Including executive...
National Development Minister Khaw Boon Wan said Singapore welcomes partnerships to test-bed urban solutions here. Singapore has been active in foreign cities, planning technology parks, building townships and developing entire eco-cities. Mr Khaw, who was speaking at the 4th Binhai Forum and Expo in Tianjin, said Singapore like any city is a work-in-progress and the Singapore story continues to be...
Centurion, a locally-listed dormitory developer, will build a 4,100-bed facility for foreign workers in Woodlands Avenue 10 after winning a land tender by Jurong Town Corp, the company said yesterday. The site has a 30-year lease and sits on a land area of about 102,700 sq ft. Centurion, through its wholly-owned subsidiary Westlite Dormitory, submitted the top bid of S$80.8 million in the tender,...
Home owners at two high-end condominium projects are taking the developers to court over alleged defects and damaged fixtures. And the disputes have drawn attention to issues like infighting among condo management councils, and the abuse of proxy votes. Responding to queries from Channel NewsAsia, the Building and Construction Authority (BCA) says it is reviewing the proxy system. An announcement...
Sales of new private homes are poised for an increase in August from a month earlier. Analysts expect around 600 to 700 new private homes to be sold in August. In July, 481 new private homes were sold, down 73 per cent from a month ago. August has traditionally been a slow month for new home sales as it coincides with the Hungry Ghost Festival. The few launches in August, like Tembusu in the...
Real Estate Developers' Association of Singapore (REDAS) says long-term plans revealed by the government recently have opened up "tremendous economic and business opportunities." REDAS president Chia Boon Kuah, speaking at their Mid-Autumn Festival luncheon on Wednesday, noted that Tanjong Pagar and Paya Lebar will be the biggest blank slates for REDAS members to work on since Marina Bay. The...
Versailles, a 55-unit residential development, has been re-launched for en-bloc sale after an earlier attempt to find a buyer failed because bids did not reach the reserve price. Jones Lang LaSalle, which is the sole marketing agent, said that the collective sale committee managed to seek a fresh mandate to reduce the reserve price and that it is now in a position to accept any offer above S$96...
M&L Hospitality Trusts, which last year put its planned initial public offering in Singapore on hold due to subdued demand, is reviving its listing plans, the Dow Jones news agency reported, citing people with knowledge of the deal. The property trust, which owns hotels in Singapore, Australia and Japan, is said to be considering an IPO to raise as much as US$500 million (S$635 million), the report...
The managers of Suntec City are optimistic that the mixed-use development will be well-positioned for its next phase of growth once it completes a makeover that will strengthen the fashion, entertainment and food & beverage offerings at its mall. This will create a better mix of tenants that will attract more foot traffic and help the development unlock new business value through higher rental income,...