It is likely that the proposed new road that cuts through Bukit Brown cemetery will get a new alignment. Channel NewsAsia understands that the road could bypass a cluster of graves belonging to key historical figures. In September, plans for the road triggered an uproar among some Singaporeans, who said the cemetery should be preserved. But authorities said the road can't wait, as congestion in the area...
General
Good Class Bungalow (GCB) transactions in the prestigious Tanglin Hill are very rare. The most recent, according to a caveat lodged on Nov 3, was for a 21-year-old GCB on a freehold site of 34,585 sq ft. It was sold for $57 million ($1,648 psf) in a private-treaty deal. Colliers International represented the seller, while Savills Prestige Homes represented the buyer. Both the seller and buyer were...
Nestled within the lush greenery of Bedok reservoir with a 400-meter frontage to the reservoir park, Archipelago is thoughtfully designed to bring the home into the park and park into the home. A trans-urban development that redefines trendy and modern urban living, its cascading balconies and roof terraces bring the outdoors indoor, and the curvilinear roof forms resonate with the nature. With shopping,...
Twenty-one blocks of HDB flats in Redhill Close have been chosen for the government's Selective En bloc Redevelopment Scheme (SERS). They are blocks 1 to 3 and blocks 5 to 22, with a total of 878 units. The Housing and Development Board (HDB) will build about 1,200 units of two-room, three-room, four-room and five-room flats in Henderson Road to re-house the flat owners. The new blocks, to be ready in...
The Rochor Centre Merchants' Association may engage a private surveyor to help with its petition for higher compensation, following the announcement of land acquisition because of the planned North-South Expressway. Some shop tenants Channel NewsAsia spoke to said they will suffer heavy losses as they have spent a lot of money to set up business at Rochor Centre. They said the S$30,000 offered to those...
Chinese home prices are at a turning point and banks are concerned about a possible chain reaction if they fall by 20 per cent, the central bank said yesterday. "Real estate investment growth eased, developers' cash flows tightened, land transactions and prices fell," the People's Bank of China (PBOC) said, adding that "there are early signs that property prices are at a turning point." Chinese home...
The Urban Redevelopment Authority (URA) said it has awarded the tender for the commercial and residential site at Jelebu Road/Petir Road to Sim Lian Land and Sim Lian Development. The firms submitted the highest bid of S$492.8 million for the site in a tender that closed on November 30. The price translates to around S$8,667.73 per sq m. Launched for sale on October 11, the 99-year lease site measures...
All one- and two-room owner-occupiers of HDB flats will continue to pay zero property tax in 2012, while those in three-room flats will on average pay roughly the same tax as last year. Four- to five-room flats will pay S$5 to S$29 more for the year. This comes after the Annual Values (AV) of HDB flats are revised upwards with effect from 1 January 2012 to reflect the rise in market values. To mitigate...
In recent years, as buyers sought physical property amid fears of missing the market as prices continued to hit record highs, real estate investment trusts (REITs) have remained popular, though not with the same level of interest as before. K-REIT's announcement that it was acquiring Ocean Financial Centre triggered a rash of discussions on REITs and the financial diagnosis point to a consensus that not...
Housing prices in 100 major cities in China dropped on a monthly basis for a third consecutive month in November and posted their biggest month-on-month decline this year, according to the privately compiled China Real Estate Index System (CREIS). The decline provides further evidence that the government's two-year tightening campaign is cooling the property market amid signals it is now trying to slow...