Senior Minister of State for Trade and Industry Lee Yi Shyan said JTC Corporation has been gradually phasing out the scheme for housing of foreign talent (SHiFT). Mr Lee explained that the scheme was started in 1997 to address the lack of affordable housing for foreign talents. He said in those days, HDB owners could only rent out rooms and not the entire flat, to locals and foreigners alike. But this...
General
The land tender for a commercial site at Venture Avenue in Jurong East has attracted nine bids. According to the Urban Redevelopment Authority (URA), Sim Lian JV (Vision) placed the top bid at about S$701 million for the 99-year leasehold site. It is about nine per cent higher than the second highest bid of S$643 million from Victory One Pte Ltd. Sim Lian JV (Vision) is jointly incorporated by Sim Lian...
The new mixed-use commercial development SBF Centre at Robinson Road has seen strong take-up. In a statement, Far East Organization said 75 per cent of the 186 units released have been sold during the preview sales period from 25 February. The SBF Centre, a joint venture between Far East Organization and Far East Orchard Limited, will launch on 14 March. Far East Organization said 138 office units were...
National Development Minister Khaw Boon Wan has rebutted claims that the new scheme, which allows singles to buy new flats directly from the government, appeals to only a small group of people. Mr Khaw had announced last week that singles aged 35 and above who earn up to S$5,000 a month will be allowed to apply for two-room Build-to-Order (BTO) flats. He was responding to a clarification raised by MP for...
Despite the red hot property market last year, the total number of real estate agents in Singapore grew by just 1.5 percent in the 12-month period from 1 Jan 2012. According to the Council for Estate Agencies (CEA), the number of registered agents in Singapore grew to 31,040 as at 1 January 2013, up from 30,577 on 1 Jan 2012. Previously, industry players say it's not unusual to see agents headcount grow...
The government will ramp up the supply of rental flats to 60,000 this year, a 20 per cent increase from the 50,000 last year. Announcing this in Parliament on Monday, Senior Parliamentary Secretary for National Development Maliki Osman said the government has always been committed to helping the weak and vulnerable victims of circumstances. Dr Maliki said one way the government has done this is through...
National Development Minister Khaw Boon Wan says the government is open to raising the income ceiling to allow more singles to buy new HDB flats. But this will depend on how manageable application rates are for the new scheme, which was announced on Friday during the Committee of Supply debate for the Ministry for National Development. Singaporeans aged 35 and above, who are singles and earn up to...
Potential home owners may not be in a rush to exercise their options in the housing schemes announced in Parliament. Although they welcomed the schemes, they said everything depends on their individual circumstances. When Yoko Lee divorced in 2010, he was barred from buying a flat until five years later. Mr Lee and his 12-year-old daughter had little choice but to find other housing options. They stayed...
Deputy Chair of the National Development Government Parliamentary Committee, Liang Eng Hwa said it's probably time for HDB to go back to the drawing board and examine the issue of affordability. Both he and at least one property analyst are waiting for more details of the new housing schemes announced in Parliament on Friday. More help for first time married couples and singles to meet their housing...
Ascendas Real Estate Investment Trust (A-Reit) said yesterday it will help fund two industrial property purchases from a private placement worth S$406.4 million. Due to strong demand, it will sell 160 million new units — up from 140 million — to institutional and other investors at S$2.54 per unit, a 3.5 per cent discount from the volume-weighted average price of S$2.6328 on Thursday. The proceeds...