In a place as small as Singapore, with one of the highest population densities in the world, space must be and is at a premium. However, some of our building policies appear to be wasteful of that precious resource, land. Residential plot ratios here must be among the least generous among the major cities of the world. In most parts of the island, plot ratios are between 1.4 and 2.8 times the area of the...
General
Why are freehold properties preferred to leasehold properties? Given that the current median life span in Singapore stands at 81.4 years, a 99-year leasehold property, whose ownership reverts to the State after this period, offers a more than adequate home for any one generation. But setting aside owner-occupation, if you expect your property to be an investment for wealth preservation or a legacy for...
Roxy Land's latest residential offering Studios @ Tembeling sits near East Coast Park in the quiet area of District 15. The freehold development offers a total of 25 units, ranging from one-bedroom to two-bedroom units as well as penthouses. The two one-bedroom units are sized between 355 and 398 square feet, while the six two-bedroom units are sized at 538 sq ft each. The five penthouses available are...
The condominium Loft @ Nathan is the latest freehold property developed by Oxley JV and is expected to be launched next week. It is located at 31 Nathan Road, near the junction of Nathan Road and River Valley Road and in the prime District 9 area. The seven-storey property has 121 residential units. These comprise one-bedroom, one-plus-one configurations and two-bedroom penthouses, ranging from 323 sq...
Construction costs in Singapore may increase by up to six per cent next year when new government regulations to restrict foreign workers kick in. According to the new Real Estate Sentiment Index, rising land prices and construction costs are some of the top concerns among developers. New rules that will kick in this month include an increase in foreign worker levy. There'll also be a reduction of...
Singapore and Malaysia are pleased with the progress made in implementing the agreement reached between their prime ministers during a Leaders' Retreat here on May 24 on Malayan Railway Lands in Singapore. This came after the Joint Implementation Team held its first meeting on Monday and Tuesday in Kuala Lumpur. The Malaysian delegation was led by Mr Rastam Mohd Isa, Secretary-General of Malaysia's...
Hongkong Land has posted a net profit of nearly US$$1.4 billion for the first six months of its fiscal year. This overturns a loss of US$402.4 million in the year ago period while revenue for the same period stood in at US$765.1 million. This was a 46.7 per cent increase when compared to the same period a year ago. The group attributes the growth to relatively robust demand for office and retail space...
Developers should target resource-rich and heavily-populated countries like Vietnam for long-term investments in the retail sector. Some property analysts said such nations also see increasing spending power among the young. Vietnam and Indonesia have a young population with a median age of about 27. And analysts said large shopping malls will meet the basic needs of such consumers in a developing...
The Housing and Development Board is launching two new Build To Order (BTO) projects Thursday at Senja Gateway in Bukit Panjang and Corporation Tiara in Jurong West. A total of 1,016 flats will be offered. This comprises 254 units of Studio Apartments, 484 units of four-room and 278 units of five-room flats. HDB says 95 per cent of the public supply of four- and five-room flats will be set aside for...
Units fetch average price of $1,150 psf The public launch of The Scala yesterday drew a huge turnout and defied official data of slowing private home sales in recent months. Over a thousand property buyers turned up and balloted for a chance to make a purchase. The developer, Hong Leong, said it had sold over 75 per cent of the 468 units available as of yesterday. It said the units, sized between 474...