Shareholders of Orchard Parade Holdings Limited (OPHL) have approved the firm's plans to divest three properties. This was agreed upon at an extraordinary general meeting held Wednesday, where 99.9 per cent of shareholders voted in approval. The three properties are: Orchard Parade Hotel, Albert Court Village Hotel and Central Square Village Residences. OPHL said in a statement that it would now proceed...
General
Singapore's famed shopping street, Orchard Road, has been ranked 25th most expensive in the world this year. With rents of retail space averaging at S$462.43 per sq ft a year, this is a notch up from last year against 129 cities in a study conducted by Colliers International. New York's Fifth Avenue and Hong Kong's Queen's Road Central and Canton Road were the world's top three most expensive shopping...
HDB flats are primarily meant for owner occupation. Those who wish to sublet their flats must meet the Minimum Occupation Period (MOP) and obtain HDB’s approval before they can do so. This rule applies to both Singapore Citizens (SCs) and Singapore Permanent Residents (SPRs). In 2011, HDB carried out 7,000 flat inspections and took action against 56 flat owners for unauthorised subletting. Of these, HDB...
The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the residential with 1st storey commercial site at Tai Thong Crescent (Parcel C) for sale by public tender. The land parcel was made available for sale through the Reserve List system on 15 May 2012. URA received an application from a developer for the site to be put up for public tender....
The proportion of foreign and company private home buyers has fallen from 20 per cent in 2011 to 7 per cent in the first half of 2012. The National Development Ministry said this could be attributed to earlier rounds of cooling measures and the Additional Buyers' Stamp Duty (ABSD) imposed in December. Still, experts pointed out that property prices and volumes remain at record levels. Developers may...
They might be the urban dwelling of the future: Studio apartments measuring no more than 28 sq m. New York City planners believe the tiny units could be the answer to a growing population of singles and two-person households. And in a nation that is increasingly populous and urbanised - where people are more frequently creating a family of one - such downsizing may not stop here. Mayor Michael Bloomberg...
Asia Gardens, a freehold 84-unit condo development located within the upcoming Spottiswoode residential cluster has been launched for collective sale. According to marketing agent Savills Singapore, the development sits on a 72,059 sq ft land parcel and has a gross floor area (GFA) of 201,465 sq ft. With a plot ratio of 2.8, the site is zoned for residential use under the 2008 Master Plan. The property...
The proportion of private residential properties bought by foreigners and companies has fallen sharply - from about 20 per cent in 2011 to 7 per cent in the first half of this year. Short-term property speculation has also fallen sharply, as indicated by the relatively low volume of sub-sales. And private home prices moderated significantly, rising marginally by 0.3 per cent in the first half of 2012...
The Housing and Development Board (HDB) will consider appropriate measures to discourage the formation of significant foreign worker enclaves in HDB estates, Minister for National Development Khaw Boon Wan told Parliament on Tuesday. Mr Khaw said HDB was currently monitoring the situation, and that the board does not have the equivalent of the Ethnic Integration Policy or Singapore Permanent Resident...
Parliament has passed amendments to the HUDC Housing Estates Act to allow Braddell View residents to have the option of privatisation, should they decide to do so. Speaking in Parliament on Monday, Minister of State for National Development Lee Yi Shyan said: "Privatisation will allow Braddell View flat owners to own private housing and have control over the management and maintenance of their...