MR TAN H C is upset over recent measures to tame the property market. The businessman, 59, feels that they unfairly penalise private home owners like him while HDB flat owners are spared. The reason: The new rules mean Mr Tan now has to sell his condo within six months if he buys an HDB flat. So he cannot own a private home and an HDB flat at the same time. But an HDB flat owner has no such...
General
THE new rules on ownership will not necessarily force private property owners who inherit an HDB flat to sell one of the homes. HDB clarified yesterday that if a property owner could keep both homes if he inherits an HDB flat that was bought before Aug 30. But if the flat's minimum occupation period (MOP) has yet to be met, the person inheriting it will have to move in until the MOP is complete, unless...
One of its main attractions was supposed to be a white-water rafting course but, as plans developed, the consortium awarded the tender to build and operate Singapore's new Sports Hub decided the proposed watersports centre at Kallang would do without it, at least initially. The plan is to build the white-water rafting course a few years after the Sports Hub opens its doors in April 2014 by tapping on the...
Analysts expect new home sales to have plunged in August Sale of new private homes are likely to have dropped to between 500 and 800 units last month, with developers and potential buyers sidelined during the Hungry Ghosts' Festival. This is according to analysts who talked to MediaCorp ahead the Urban Redevelopment Authority's (URA) monthly release tomorrow, which is expected to show transactions...
PROPERTY consultancy SLP International is hiring Nicholas Mak as executive director of its research and consultancy division. Mr Mak, formerly a real estate lecturer at Ngee Ann Polytechnic, will officially join the firm tomorrow. SLP started off in 2001 marketing industrial properties in Singapore, and has been involved in leasing out projects such as Wcega Plaza and Tower in Bukit Batok. The firm said...
Are the Aug 30 property-related measures appropriate or do they need to be fine-tuned? Will they be sufficient to cool the property market and alleviate speculative pressure, or would other measures be needed? Lim Soon Hock Managing Director Plan-B Icag Pte Ltd I THINK the newly introduced property-related measures to cool the property market and to alleviate speculative pressure are appropriate and...
CapitaLand has said its new development at Bedok Town will likely attract potential buyers such as HDB upgraders. Property analysts believe the area will also be rejuvenated as it now lacks new residential and commercial developments. The Bedok Bus Interchange will receive a facelift in the fourth quarter of next year. The bus interchange, together with a piece of land next to it, will be transformed and...
The Housing and Development Board said on Monday that its latest Build-To-Order (BTO) project, Yishun Riverwalk, received a total of 3,225 applications for the 1,408-unit development. Observers said demand was not as overwhelming since the new housing measures to cool the property market kicked in. Property agents said they expect cash-over-valuation (COV) to fall by 20 to 25 per cent this year. So some...
The Housing and Development Board (HDB) has launched a land parcel located at Bedok Reservoir Crescent for sale by public tender under the Design, Build and Sell Scheme. The tender will close at noon on November 2. HDB said the new DBSS site is located in Bedok Town, a choice residential town surrounded by excellent amenities such as the town centre, neighbourhood centres, schools, Bedok Reservoir,...
Some Malaysians are now thinking twice about settling in Singapore, in light of the recent dual property ownership measures. The new rules state that Singaporeans and permanent residents who want to buy an HDB flat must sell their overseas property within six months. At a showroom of one of Malaysia's leading property developers SP Setia Group, Channel NewsAsia spoke to some concerned Malaysians who are...