If the income ceiling for Build-To-Order (BTO) flats is raised, National Development Minister Mah Bow Tan will be watching closely one set of figures: The average incomes of applicants for each flat type. Based on those numbers, he will price the flats within a range they can afford. And in the long term, it will be a price range equivalent to a monthly mortgage within one-third of household income. That...
General
Colliers International says it is putting up for sale strata-titled commercial units in the Singapore Shopping Centre at Clemenceau Avenue. A total of 43 units, which are located at the fourth and sixth storeys of the property, will be sold either via en bloc, or separately in parcels based on their tenancy expiration. These units have a combined floor area of 23,046 square feet, with individual unit...
Singapore Prime Minister Lee Hsien Loong said the government could have moved more quickly and efficiently to address the shortfalls in the country’s housing and transport industries. The Prime Minister also acknowledged that things do not always go as planned and there might be side effects from the government’s decisions. The government has had to “watch the wind and the tide and we have to pick...
Mainboard-listed ARA Asset Management said its net profit increased 19 per cent to S$14.8 million for the first quarter ended March. The real estate fund management company said its revenue also saw a similar increase to S$27.2 million from S$22.9 million in the same quarter last year. This was supported by a 14 per cent growth in recurrent management fees to S$22.1 million which was higher than the...
The price gap between uncompleted and completed private homes narrowed in the first quarter of this year. Data from property consultancy SLP International's first quarter residential market report shows that high-end and mid-tier properties have been the most affected. Uncompleted homes usually command higher prices. A narrowing of this gap, caused by a drop in uncompleted home prices could reflect...
The government is planning to raise the current S$8,000 income ceiling for buying new flats under the Build-to-Order (BTO) scheme, according to Prime Minister Lee Hsien Loong. He said when the S$8,000 cap was raised to S$10,000 for the slightly more upper-class Design, Build and Sell Scheme (DBSS) last year, the government also considered raising the income ceiling for BTO flats and resale flat...
Rates for hotel rooms in Singapore continue to rise even with the increase in supply, according to a report by hospitality consultant CBRE Hotels. Hotel room rates in 2010 increased 11.3 per cent with mid-tier hotels registering the highest increase at 22.4 per cent to S$168.50 per night, according to the Singapore Tourism Board. CBRE Hotels expects room rates to increase between 10 to 15 per cent this...
The Esta may be facing the busy Mountbatten Road but demand continues to be strong at the 400-unit freehold condominium, owing to its easy access to the city and a wide range of amenities at Katong. A unit at The Esta was sold for $1,325 psf this month, the first time it has breached the $1,300 psf level since last December. The peak was recorded previously in October, when a 1,399 sq ft three bedroom...
With the General Election (GE) just around the corner, several people have asked me whether I think the poll results would have an impact on the private housing market. If you are asking whether investor confidence in private property here would be affected, the answer is a definite no. Whatever the outcome of the polls, be it by a clear margin or a narrow victory for the ruling party, I feel the...
This year started off strongly for Government Land Sales (GLS) en-bloc sales. Under the GLS, seven residential sites, including two for executive condominiums, were launched and sold, generating over S$2.5 billion for government coffers. With the residential market hot from robust sales volumes and continued strong interest from developers, I am concerned that some of the estimates for break-even and...