China should adopt more tax measures to rein in rising property prices, as there are limits to what credit restrictions can accomplish, an official from the country's banking regulator was quoted as saying in the Financial News yesterday. China could start collecting land appreciation taxes in advance and could start collecting real estate taxes in more areas where property prices are rising quickly, Mr...
General
Despite round after round of cooling measures in 2010 and 2011, many investors remain eager to park their funds in residential properties. The tightening measures have merely relegated a fraction of the investors to the sidelines and, while they watch the market closely, others continue to invest. Why are investors so attracted to residential property investments? Low interest rate environment Savings...
The waiting time for rental flats has been shortened from 21 to eight months. But for households which fall through the cracks, could more be done to help them own a flat, asked Members of Parliament yesterday. Such households include those too poor to buy an HDB flat but who earn too much to qualify for rental housing, or those who sold off their flats and no longer qualify for subsidised loans. Madam...
Many had expected strong interest and a good fight for a prime private housing site in Bishan when the tender closed last week. Nevertheless, the result still surprised many or should I say "shocked" them - and in more ways than one - when it was announced late on Thursday. The first surprise was the highest bid submitted: S$550 million or S$869 per sq ft per plot ratio (psf ppr) for the 129,136 sq ft...
The Urban Redevelopment Authority (URA) has received eight bids at the close of tender on Thursday for the sale of a land parcel at Bedok Reservoir Road. The 46,000 square metre site was launched in mid-January and is designated for residential development. The top bidder for the site is United Venture Development with a S$320 million bid for the site. That translates to about S$5,010 per square...
The Singapore government has announced more help for low-income families own their first flat. From Thursday, families earning up to S$2,250 a month can now look forward to a Special CPF Housing Grants (SHG). The SHG was first announced by Finance Minister Tharman Shanmugaratnam in his Budget speech. Those with household incomes of up to S$1,500 dollars will get the maximum S$20,000 in SHG. National...
National Development Minister Mah Bow Tan has announced measures to benefit first-time flat buyers. There will be an increase in supply of flats this year. Mr Mah said if demand sustains, the Housing & Development Board (HDB) will offer up to 22,000 Build-to-Order (BTO) flats for the entire 2011. For the first half of this year, HDB will offer 14,000 new BTO flats. This is comparable to the BTO...
National Development Minister Mah Bow Tan announced on Thursday that the pace the Home Improvement Programme (HIP) will be increased. The number of HIP projects had doubled from 7 to 14 over the last two years. And HDB will increase it to 28 projects next year. The pace will be further increased to 35 projects a year by 2014. At this pace, about 60 per cent of eligible precincts can be offered HIP over...
Work is under way to implement the Points of Agreement (POA) which will see the Malaysian railway (KTM) station in Tanjong Pagar move to Woodlands Train Checkpoint by July 1, 2011. Minister for Foreign Affairs George Yeo said this in Parliament, during his ministry's Committee of Supply debate. Mr Yeo said a schedule of implementation has been drawn up, adding that work on some aspects of the...
Some old Housing Development Board (HDB) blocks scheduled for demolition under a redevelopment scheme are enjoying an extended lease of life as temporary housing for the needy or as rental flats fetching market rates. According to new figures released by the HDB to The Straits Times, approximately 2,200 units, or about six percent, of the 35,000 flats in 25 blocks chosen for the Selective En bloc...