During a "Our Singapore Conversation" dialogue session, national development minister Khaw Boon Wan said Singapore has the ability and resources to meet the demand for more HDB flats. Housing was one of the hot issues at the dialogue at Sembawang Group Representation Constituency (GRC). The question posed at the session was: what kind of Singapore would you like to have in 2030? More than 300 residents...
General
National Development Minister Khaw Boon Wan has urged developers of Executive Condominiums (ECs) to be mindful about the intent and spirit of the EC policy. This follows recent media reports of an EC penthouse sold for $1.77 million. In his latest blog post, Mr Khaw said EC developers have flexibility in designing and pricing their units. But he stressed the policy intent of the EC - which is to help...
The number of private home sales in Singapore could drop by more than 20 percent in 2013 after “spectacular” increases this year. David Neubronner, Head of Residential Project Sales for Jones Lang LaSalle (JLL), issued the warning this week, suggesting that the number of sales this year, which is expected to reach 22,000 units, will correct to “more healthy levels of about 16,000 units” in a...
The Urban Redevelopment Authority (URA) has awarded the tender for the hotel site at Jurong Town Hall Road to Tamerton Pte. Ltd. The firm submitted the highest bid of S$238.2 million, which translates to S$12,565.28 per square metre of gross floor area. Tender for the hotel site was launched on 19 September 2012 and closed on 20 November 2012. The land parcel was offered for sale on a 99-year lease term....
It has been a pulsating year for Singapore's private housing sector, with homebuyers' aspirations remaining firm even as prices and volumes defy conventional market cycles to hit record highs, but there are signs that the market is now heading towards equilibrium. In today's market, speculation no longer drives the property buyer following the implementation of sellers' stamp duty in January last year for...
Despite its name, there is nothing small about the Minor Group, which plans to attract Singaporeans to invest in Thailand's luxury property sector as well as expand its presence in Singapore. With gross revenues of over S$1 billion, Minor is one of Thailand's largest hotels and resorts operators with over 70 properties, and also one of the country's largest fast-food operators, with over 1,200 outlets...
The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Jalan Jurong Kechil to World Class Developments (North) Pte Ltd. The company submitted the highest bid in the tender for the site. Tender for the residential site was launched on 19 September 2012 and closed on 15 November 2012. The site was offered for sale with a lease option of 30 years, 45 years or 60 years. A...
Property giant UOL Group clinched the "Best Developer Award" in the Singapore and South East Asia categories at the South East Asia Property Awards 2012 on Wednesday. The "Best Developer Award" is based on the quality of development projects, track record and innovation of the developer. Last year, UOL won the "Best Condo Development Award" in the Singapore and South East Asia categories for its Nassim...
There are at least eight private residential projects that are now racing the clock to sell remaining units within the two-year completion period, as mandated by the government. For instance, high-end projects such as the Hilltops in Cairnhill Circle and the The Marq on Paterson Hill have been completed for at least a year, but they still have hundreds of units yet to be sold, reported The Straits...
HDB launched seven Build-To-Order (BTO) projects on Wednesday, offering 6,463 new flats in two non-mature towns (Choa Chu Kang and Sengkang) and three mature towns (Bedok, Queenstown and Toa Payoh). With this launch, the total BTO flat supply in 2012 will reach 27,084 units. This will be the largest BTO supply in a year since the BTO system was introduced in 2002. Together with another 7,153 balance...