Developers can continue to offer the deferred payment scheme (DPS) for executive condominiums (ECs) because eligibility and ownership rules keep speculation in such projects at bay. The Urban Redevelopment Authority (URA) said that ECs 'are different from other private residential developments' as they are meant for owners to live in and are subject to eligibility criteria and ownership conditions. For...
General
The cash premium that home buyers have to pay upfront for HDB resale flats has continued to slide in November, said National Development Minister Mah Bow Tan. In an exclusive interview with Channel NewsAsia, Mr Mah said the median cash-over-valuation (COV) was S$22,000 last month, down S$3,000 from October. This is the second straight month that COV has come down, a further sign that the property cooling...
CapitaLand and its partners have sold 82 per cent of the 250 units released for the initial launch of its d'Leedon development. The units sold include 52 apartments that were purchased by former Farrer Court owners whom had sold the development's site en bloc in 2007. CapitaLand said the units were priced at an average of S$1,680 per square foot. The development is the first condominium in Singapore to...
Tulip Garden has been put up for collective sale. Credo Real Estate which is handling the sale said the owners of the 164-unit development, are asking for a minimum of S$650 million. This tender launch is the first large scale freehold en bloc sale offering, valued above S$500 million, in 3 years. Credo said if sold, Tulip Garden stands to be the third largest successful en bloc sale by deal value in...
CapitaLand's subsidiary, The Ascott Limited, said it has been awarded the master tenancy of 33 Black and White residential bungalows at Mount Pleasant. The Ascott had submitted to the Singapore Land Authority the third highest bid of S$435,000 per month. It beat LHN Group's bid of S$510,009 per month and Atbara Holdings' bid of S$450,000. The colonial bungalows are offered for an initial tenancy period...
Keppel Land expects to book a larger profit of about S$394 million from its Marina Bay divestment, following a positive advance ruling from the tax authorities. In a filing on the Singapore Exchange, the developer said that the Inland Revenue Authority of Singapore has confirmed it would treat the divestment as capital gain, which is not taxable. This means that Keppel's profit from the divestment will...
Minister in the Prime Minister's Office Lim Hwee Hua said the government had to step in with cooling measures to minimise speculation in the HDB market because of a small group of private property owners. Housing was a hot topic that Mrs Lim dealt with at her walkabout on Sunday at Kampong Chai Chee, a relatively old estate under the East Coast GRC. The current state of the property market and the Lehman...
Soaring above the Hillview and Bukit Batok estates in District 23, Regent Heights is one of the tallest condominium projects in the area. The 11-year-old development by Bukit Landmark Properties, a unit of Far East Organization, recently saw significant interest from HDB upgraders. “The price in the area is still very affordable,” says DTZ realtor Eric Kang, who was negotiating deals for a couple of...
Larger and more collective sales are in the pipeline as home owners attempt to cash in on the hot property market - but experts say the actual number of successful sales might disappoint. Hawaii Tower along Meyer Road along with former HUDC estate Pine Grove are among those in the latest batch to have secured the necessary 80 per cent approval from residents. Also more than 53 per cent support has been...
The property market will take into account the recent cooling measures and adjust to the "new challenges", said Mr Simon Cheong, the president of the Real Estate Developers' Association of Singapore (REDAS). "It is in our interest to see a graduated trend in value movements in order to realise a sustainable environment for real-estate development rather than face the volatility arising from mismatched...