General

New rules on buying homes using CPF or HDB housing loans will be introduced, that will focus on whether the remaining lease of the property can cover the buyer until at least age 95. This was announced on Thursday (May 9) by the Ministry of National Development (MND) and Ministry of Manpower (MOM). The changes, which apply to the purchase of HDB flats, private properties and executive condominiums,...

Singaporeans are not spending like they used to, at least not in shopping malls. There are too many already and more are being built. But investors still have good reasons to back mall owners. Singapore has 6.1 million square metres of retail space, of which 8.7 per cent is vacant. Yet companies are forecast to add a further 364,000 sq m, with the biggest chunk hitting the market this year. This is...

There will be no change to current rules for short-term stays in private homes, the Urban Redevelopment Authority (URA) announced on Wednesday. That means that the use of private properties for fewer than three consecutive months - which has been popularised by the likes of home-sharing platforms Airbnb around the world - will remain illegal in Singapore. This came after several consultations...

The Urban Redevelopment Authority (URA) said on Wednesday (May 8) that it will not proceed with proposed regulations for the use of private residential properties for short-term accommodation (STA). This means the three-month minimum stay duration will continue to apply. The agency made the decision after consultations with key stakeholders since 2015, including members of the public, management...

Kajima Development and Singapore Press Holdings (SPH) are launching The Woodleigh Residences for sale on May 11. The Woodleigh Residences is positioned as a premium integrated development which leverages Japanese design, and is being built above The Woodleigh Mall. It is also connected to Woodleigh MRT Station and an air-conditioned underground bus interchange. The 99-year leasehold property...

Despite lingering concerns about depreciating value and some adverse impact from the latest cooling measures, older HDB flats in Singapore are still in demand, according to a study by property consultancy OrangeTee & Tie. For the first quarter this year, 628 older flats - that is, those that are more than 40 years old - were sold, constituting 13.9 per cent of total resale transactions. This is the...

The twin office blocks of CapitaLand's revamped Funan integrated development has garnered 98 per cent pre-leasing commitment of its total office net lettable area (NLA) of 214,000 square feet (sq ft). The CapitaLand Mall Trust-owned (CMT) Funan secured the pre-leasing commitment of about 210,000 sq ft of its NLA when it got its Temporary Occupation Permit in April. Funan’s office tenants, which...

The ongoing negotiations between the receivers and the buyers of the unfinished Laurel Tree and Sycamore Tree residential projects is a "private matter", the Urban Redevelopment Authority (URA) said. URA said it was informed by the receivers - three partners of KPMG led by Bob Yap - in Feb 2019 that they had been appointed to take over management of the projects from the developers. "The terms and...

Isetan Singapore will not renew the lease for its "loss-making" store at Westgate mall, the company announced in an SGX filing on Monday (May 6) before the market opened. The Japanese department store operator said its lease with JG Trustee (JGT) will expire on Dec 22 this year, after both parties were unable to reach an agreement on the lease renewal terms. "The rationale for the company’s...

Isetan Singapore will not renew the lease for its "loss-making" store at Westgate mall, the company announced in an SGX filing on Monday (May 6) before the market opened. The Japanese department store operator said its lease with JG Trustee (JGT) will expire on Dec 22 this year, after both parties were unable to reach an agreement on the lease renewal terms. "The rationale for the company’s...