Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said on Monday that property-related exposures accounted for 28 per cent of Singapore banks’ total outstanding non-bank loans. He said this in a written answer to a parliamentary question filed by Mr Gan Thiam Poh (MP for Pasir Ris-Punggol) on the exposure of financial institutions to housing and real estate development financing. Mr...
General
Sales of new private homes, excluding executive condominiums, halved to 1,375 units in April, compared to March. This was down from the record 2,793 units sold by developers in March, the highest monthly sale volume since June 2007. According to the latest figures released by the Urban Redevelopment Authority, the April 2013 figure was also lower than the 2,497 new home sales recorded a year...
The Urban Redevelopment Authority (URA) and Housing & Development Board (HDB) will be releasing five residential sites for sale this month under the Government Land Sales Programme for the first half of 2013. The government said this is to provide developers and home buyers with more choices for private housing. The five sites are located at Tampines Avenue 10, Toa Payoh Lorong 6, Prince Charles...
Singapore's luxury home prices have fallen, according to property consultant Jones Lang LaSalle. Prices in the first quarter fell 0.6 per cent quarter-on-quarter, and 4.3 per cent year-on-year. Jones Lang LaSalle said the price decline was partly due to government measures to cool the property market. Latest measures introduced in January this year are the seventh round of property cooling...
Packed showflats and brisk sales -- Japanese developer Sekisui House said the hot demand for property in Singapore has helped to boost its revenue. It hopes to increase the revenue contribution from its overseas markets to 10 per cent in the short-term. It is currently developing projects in Singapore, China, the United States and Australia. Kenta Konishi, managing director of Sekisui House...
An executive condominium (EC) site in Woodlands has attracted seven bids from developers, according to the Housing & Development Board (HDB). The 99-year leasehold site at Woodlands Avenue 5/Woodlands Avenue 6 fetched a top bid of S$216 million from Qingjian Realty (South Pacific) Group. That's about 9 percent above the second highest bid of S$198 million tabled by Bellevue Properties, a wholly-owned...
A total of 26 winners have clinched the first BCA Universal Design Mark Award by the Building and Construction Authority (BCA). Among them, the Platinum winners of the Award are Reflections at Keppel Bay, a private residential development, and education institution United World College of South East Asia (East Campus). Newly introduced in October last year, the BCA Universal Design Mark Award is a...
Singapore companies are still upbeat about investment prospects in Malaysia, especially in the Iskandar region in Johor. With the general election and political uncertainties out of the way, some have said it is also a good time to consider raising their investments. Business relations between Singapore and Malaysia have rarely been on more solid ground. Singapore companies are among the biggest...
A freehold residential site at Tampines Road has been put up for collective sale by public tender. The 14-storey development, Yi Mei Garden, is located near Kovan MRT and Heartland Mall. ERA Realty Network, the marketing agent for the property, said the indicative price range for the plot is between S$132 million and S$135 million. ERA said the development charge payable would work out to be...
Singapore's skyline is set to welcome its tallest building in 2016 at a site above Tanjong Pagar MRT station. Developer GuocoLand said the 67-storey office-cum-residential tower will form part of the upcoming integrated development called the Tanjong Pagar Centre. At 290 metres high, the building will soar above Republic Plaza, One Raffles Place and UOB Plaza One, which are 280 metres tall...