All HDB flat owners at Rochor Centre will be compensated for their existing flats based on the prevailing market values as at the date of announcement of the acquisition, which is 15 November 2011. This is regardless of whether they decide to take up the new replacement flats in Kallang. National Development Minister Khaw Boon Wan said this in a written parliamentary reply on Monday, in response to a...
General
The Singapore Land Authority (SLA) has identified three sites along the Rail Corridor and adjacent vacant state land for interim community use. These sites are near Jalan Hang Jebat, Ghim Moh Road and Kampong Bahru Flyover. SLA said it is carrying out improvement works at these sites, which have been cordoned off for safety reasons. They will be progressively opened (for interim community use) from...
Demand for luxury private and public homes in Singapore is still upbeat despite a gloomy economic outlook. The first weekend of the new year saw crowds made up of mostly first-time buyers and families looking to upgrade flocking to several property launches. Market watchers say the recent cooling measures have also affected demand from foreigners. It is a busy first day of sales for Riversound Residence...
China may look to roll out its property tax scheme to the cities of Guangzhou, Nanjing, and some second and third tier cities in the country's midwest, the Shanghai Securities News reported on Friday, quoting a government researcher. The government "won't rule out the possibility of implementing the tax" in Guangzhou, Nanjing, and second and third tier cities in the midwest region, said Mr Jia Kang, head...
A new development under the Design, Build and Sell Scheme (DBSS) has been launched in Hougang. Parkland Residences will be located near the junction of Hougang Avenue 8 and Upper Serangoon Road, within walking distance to the Hougang MRT Station. Major expressways such as the Kallang Paya Lebar Expressway (KPE), Tampines Expressway (TPE) and Central Expressway (CTE) are also within easy reach. The...
Two more Circle Line MRT stations will open for service next Saturday. Train frequency at Bayfront and Marina Bay stations will be seven minutes during peak hours. Train operator SMRT said during off-peak hours, commuters can take shuttle train services from Stadium, Nicoll Highway and Promenade stations to Bayfront and Marina Bay stations. Out of five exits at Bayfront, four will link to the Marina Bay...
Private home prices and rents in Singapore went up in 2011 from the previous year, despite the cooling measures that include imposing seller's stamp duty and reduction in loan-to-value limit, said property consulting firm DTZ. However, the growth is expected to have tapered off last month and is likely to continue falling this year, it said. "Historically, significant price falls have been triggered by...
India's real estate market is tougher compared with China as the pace of doing business in the country is slower, according to CapitaMalls Asia (CMA). The retail property unit of CapitaLand, South-east Asia's largest developer, has 2 per cent of its assets in India, said CMA chief executive officer Lim Beng Chee. China makes up 42 per cent of its S$6.67-billion assets, the biggest after its home market...
The rundown penthouse apartment that Mr Mike Tay and Mr Eugene Yip fell in love with in 2009 was in such a sorry state that more than 80 potential buyers had walked away from it. But Mr Tay and Mr Yip saw beyond its dark, claustrophobic atmosphere, the uneven floors and the frosted windows that obscured the view of the city's skyline. "We were blown away by the potential of this unpolished gem from the...
Private home prices and rents in Singapore rose in 2011 from the previous year despite cooling measures, said property consulting firm DTZ. The measures included imposing seller's stamp duty and a reduction in loan-to-value limit. In its report released on Thursday, DTZ said resale prices of leasehold condominiums in suburban areas increased 8.2 per cent on-year. This makes it the fastest growing...