Among the property cooling measures introduced in August, the requirement for resale flat buyers to dispose of their private property, including any held overseas, has left some flat seekers in a bind. And National Development Minister Mah Bow Tan said in Parliament yesterday the Housing and Development Board (HDB) has received around 250 appeals - about a hundred from potential buyers who own overseas...
General
Above water or under it? As speculation continues over whether the proposed MRT extension to Tanjung Puteri will see commuters travelling under the Straits of Johor, Foreign Minister George Yeo reiterated in Parliament yesterday that no decision has been made in that regard. Responding to a question by Jurong GRC Member of Parliament (MP) Halimah Yacob, Mr Yeo said that both sides will have to carry out...
More changes are on the way for the regulation of Singapore's property market. From November, sellers of Housing & Development Board (HDB) flats will have to observe a seven-day cooling-off period before they can grant an Option-to-Purchase (OTP) to the buyers. And foreign owners of landed property could face tougher rules under changes being proposed by the Law Ministry. The HDB said in a statement...
Ascendas Real Estate Investment Trust (A-REIT) has posted a distribution per unit of 3.3 cents for the second quarter ending 30th September. This is a drop of 5.2 percent from the year-ago period, before taking into account new issues placed over the year. For the second quarter, A-REIT is distributing S$61.8 million to unit holders, up 0.4 percent year-on-year. For the second half of the financial...
Shares of Global Logistic Properties (GLP) had a sparkling debut on the Singapore Exchange (SGX) on Monday. The stock rose 10.7 per cent on its first trading day to close at S$2.17, up from its offer price of S$1.96 a share. GLP, a real estate unit of the Government of Singapore Corp (GIC), was also the most actively traded stock on SGX. The counter saw a hefty 514 million shares changing hands, valued...
It is too early to assess the full impact of recent measures introduced to cool Singapore's hot property market, according to National Development Minister Mah Bow Tan, who was speaking in Parliament on Monday. Mr Mah added that there are however signs of greater stability in the market. Based on Urban Redevelopment Authority's (URA) flash estimate of the Property Price Index (PPI), the increase in...
K-REIT Asia has booked a higher third quarter distribution per unit of 1.69 cents, a jump of 25.2 percent year-on-year. Distributable income for the three months ended 30 September rose over 26 percent to S$22.7 million. K-REIT said this was largely because of higher net property income and lower interest expense. Meanwhile, net property income for the group increased 42.4 per cent year on year to...
The Housing and Development Board (HDB) is unable to allow subsidised flat owners from owning overseas properties, even if they are inherited. National Development Minister Mah Bow Tan said this in Parliament on Monday in response to a question from MP Lee Bee Wah, who asked whether HDB will allow exemptions to those who inherit foreign properties out of bequests. "HDB is unable to allow exemptions for...
Keppel Land has acquired two prime residential sites in China for a total of S$376 million. The two sites are in Chengdu, Sichuan province, and were acquired through its wholly-owned subsidiary Keppel Land China. The first acquisition is a 5.1 hectare area located near Dongdajie, which is Chengdu's financial district. The other is for two separate sites with a combined land area of 25 hectares. This is...
From November, sellers of Housing & Development Board (HDB) flats will have to observe a seven-day cooling-off period before they can grant an Option-to-Purchase (OTP) to the buyers. The cooling-off period starts after they complete a resale checklist which will have to be submitted online to the HDB website. The checklist was introduced in 2008 to ensure flat sellers and buyers are aware of the key...