Another 4,200 new flats in seven Build-to-Order (BTO) projects have been launched on Thursday by the Housing and Development Board (HDB). This follows its bumper 8,200 new flats offered just two months ago. The latest launch offers flats in Bedok, Bukit Panjang, Hougang, Punggol and Yishun. They range from studio and 2-room to 5-room flats. HDB said they will cost from S$75,000 for a studio unit at...
General
Property developer Far East Organization plans to roll out a number of small home offices, or SOHO developments, in the months ahead. These projects will be launched under its new brand, Far East SOHO, starting with a 231-unit development at Scotts Road. Despite the uncertainties in the global economy, property analysts expect demand for such projects to be resilient. The Scotts Towers, which will be...
More than half of 583 units at Bedok Residences were sold within seven hours of its launch. Long queues started forming onsite three days ago. Agents resorted to hiring teens to stand in proxy for genuine buyers as the developers decided to operate on a "first-come, first-served" basis. CapitaLand said most buyers rushed in to make their selection without even viewing the showrooms. A unit...
Singapore's office property market has lost its appeal as an investment, according to real estate firm DTZ. DTZ said demand for office space has declined, and the sector is now considered "cold". It defines "cold" as property that is more than 5 per cent overpriced, with potential yield below expectations. "Singapore has traditionally been a volatile market, and our rental outlook has been impacted by...
Minister for National Development Khaw Boon Wan has advised Singaporeans to be prudent when purchasing property. With the wide range of housing options, prospective buyers should choose wisely and buy within their budget. Mr Khaw said this in response to a question raised by Pasir Ris-Punggol MP Gan Thiam Poh on whether there were plans to review the current HDB flat pricing policy to make sure public...
More Malaysians are looking to invest abroad, with Singapore as a hot property destination, according to Malaysia’s leading property portal, HomeGuru, in its latest quarterly consumer sentiment survey. 24 percent of the over 2,800 respondents expressed interest in investing overseas, with Singapore, Australia, the UK, India and Indonesia as the top five preferred destinations. Meanwhile, more property...
Residents in the Thomson area whose property will be affected by the 5.6 km North-South Expressway (NSE) will receive more assistance, according to a report in The Straits Times. Law Minister K. Shanmugam said affected residents will receive 40 percent of the compensation amount upfront to help them buy new property. The remainder will be given when the residents hand over their title deeds to the...
Once again, property developer SC Global Developments has set a new record price at The Marq on Paterson Hill, selling a 3,003 sq ft, four-bedroom apartment in the Premier Tower for about S$20.5 million (S$6,850 psf). This surpassed the previous record set in August for S$6,394 psf, which in turn topped the May record of S$5,842 psf. Comprising two 24-storey towers with a total of 66 units, the Marq is a...
National Development Minister Khaw Boon Wan said his Ministry is prepared to review the Lease Buyback Scheme to include four- and five-room flats. This is to help lower-income senior citizens in their retirement years as downgrading may not be viable due to the high cash-over-valuation of three-room flats. He was responding to a suggestion from MP Zaqy Mohammad in Parliament. Mr Khaw explained that the...
A high-end residential project will soon rise at the site of the iconic Capitol Building and Stamford House as it broke ground on Tuesday for a possible launch between March and April 2012. It is part of a landmark project that will feature residential, hotel, retail and theatre components in the conserved site. Its developer Capitol Investment Holdings said it has awarded the S$338 million contract to...