Private resale home prices rose by 1 per cent in October, marking a similar rate of increase seen in September. The figures are part of the latest Singapore Residential Price Index (SRPI) flash estimates published by the Institute of Real Estate Studies at the National University of Singapore (NUS IRES). In its report, NUS IRES said that property cooling measures have had "transient effects" on housing...
General
Investment company Haiyi Holdings on Tuesday said it would be making a mandatory unconditional cash offer for all of the shares in property developer Singxpress Land after a conversion of its perpetual preference shares into ordinary equity would result in its owning 62.2 per cent of the target company. But the offer by Haiyi of S$0.0118 cent per share offer is 21.3 per cent below the last transacted...
The government is expected to offer a steady supply of land for residential developments in the first half of 2013. Property-watchers said the sites offered this year have seen strong interest from developers, pushing land prices up by an average of some 10 per cent on-year. To meet demand, the government has ramped up its land sales programme this year. For both the first and the second half of 2012,...
Large flats in mature estates have proven to be the most popular among home buyers in the November Build-To-Order (BTO) exercise. In the last BTO exercise for the year, there were three first-time buyers for each four-room flat in Toa Payoh. The same goes for five-room flats in Bedok. In Bedok's Fengshan GreenVille, there were 3.8 first-time buyers and 51.6 second-time buyers for each five-room...
DB's My Waterway@Punggol project has won an international gold award. It clinched the honour under the Project Built section in the 2012 International Award for Liveable Communities conferred by the LivCom Management Company. The award recognizes International Best Practices in the management of the local environment and is endorsed by the United Nations Environment Programme (UNEP). My Waterway@Punggol...
All one- and two-room owner-occupiers of HDB homes do not need to pay property tax in 2013, similar to 2012. For a majority of other HDB flat types, the property tax bill for 2013 will increase by between S$40 and $50, after taking into account a new S$40 rebate. The increase in property tax comes after the revision of Annual Values (AVs) of HDB flats with effect from 1 January 2013, reflecting the rise...
Far East Orchard - a unit of Far East Organization, Singapore's largest privately held developer by assets - said on Monday it planned to buy Straits Trading Co's hospitality management business and stakes in the company's hotel assets, Dow Jones Newswires reported. Far East Orchard said it signed a non-binding memorandum of understanding with Straits Trading for the proposal, which also involves...
The state land where Bukit Timah Saddle Club currently sits has attracted six bids since the government put it up for public tender. The tenancy will start next year and end in 2018. And the highest bidder of S$68,850 came from none other than the Saddle Club. This is nearly four times the amount of rent it is paying for the land currently. Responding to queries, the chairman of the Saddle Club's...
National Development Minister Khaw Boon Wan said the transformation of the real estate industry has only just begun. He said what used to be regarded as a "cowboy" industry is now characterised by a more systematic and professional process of proper registration and licensing of property agents by the Council of Estate Agencies (CEA). He added that of the more than 100,000 property transactions each...
The first Public Perception Survey by the Council for Estate Agencies (CEA) has found that most consumers are satisfied with their property agents. Eight out of 10 said they were satisfied with the conduct and services provided. Seven out of 10 planned to recommend their agents to others. Top of the list was service excellence with agents being contactable, responsive to queries and courteous at all...