Singapore has been ranked the third most expensive city to live in Asia and the sixth in the world. This is according to the Worldwide Cost of Living 2013 survey conducted by The Economist Intelligence Unit. The survey compares the cost of living among 131 cities worldwide using New York as a base city. Its findings show that the relative cost of living in Asian hubs like Singapore and Hong Kong has...
General
Application rates for first-timers rose marginally in the latest Build-To-Order flats sales exercise, the first BTO offering this year. Applications close at midnight but overall as of 5pm, there were 2.2 first-timers applying for each new unit. This is higher than the 1.8 in the previous exercise in November last year. It is also the first time since March last year that the application rate for...
Singapore will get three new towns – Bidadari, Tampines North and Tengah – which are expected to provide 90,000 homes over the next few years, reported The Straits Times. The areas of Bukit Brown and Keppel could also be developed in the future, according to the Land Use Plan released by the Ministry of National Development (MND) last week. Tengah which is located in western Singapore is currently...
The future success of the government’s land use plans will depend on market timing and clarity on the details of development, said Alice Tan, Senior Manager for Research at Knight Frank Singapore. “To fulfil the optimisation of land use in the medium to long term, we expect the planners to be reviewing land usage in a comprehensive approach, from existing low intensity to higher intensity land...
China’s average home prices rose from year-ago levels in January for the second month in a row, signalling that the property market recovery is gaining momentum after last year’s slump, Dow Jones Newswires reported on Friday. Analysts said the uptick in prices was due to strong demand from buyers who had rushed into the market amid widespread expectations that housing prices would climb further this...
Some Executive Condominium (EC) developers have seen higher sales despite the government introducing a package of cooling measures on January 12. EC projects like One Canberra and Watercolours, which were launched last year, have seen sales jumped by about five times after the measures kicked in. In the two weekends after the new measures kicked in, One Canberra sold 30 units, up from two to three units...
New measures unveiled by the Government on Jan 11 to cool the housing market have been described by many industry watchers as the most comprehensive and harshest ever. Hold on. Hasn’t this description been used to describe at least one other previous set of cooling measures? To put the most recent curbs into proper context, we are moving from “Harsh” to “Harsh+”. Following the announcement,...
Analysts say the comprehensive Land Use Plan released by the government on Thursday will present many opportunities for developers. It will also boost the property market in years to come. They add that home prices in some areas could also appreciate, though not any time soon. Housing estates like Woodlands, Sembawang, Seletar and Punggol may be far from the city today, but come 2030, these towns are...
Two new commercial clusters will be developed as part of the comprehensive Land Use Plan released by the government on Thursday. In addition to the existing commercial nodes Jurong Lake District, one-north and Paya Lebar Central, there will be two new corridors in the north and south. The North Coast Innovation Corridor will span from Woodlands to Punggol and the Southern Waterfront City will extend from...
By 2030, Singapore is expected to have 700,000 new homes which will be located in new towns, existing estates and the central region, where 200,000 of these units will be completed by the end of 2016. According to the Land Use Plan released on Thursday, three new towns will be carved out. One of them is Bidadari town where 11,000 housing units, both private and public, are expected. Another town will be...