Some 32,000 flat owners have registered their subletting of rooms with HDB as of end June. HDB has also issued a reminder to those whose tenancies started before February, that their six months grace period for registration will end at the end of this month. Those who sublet from February 1 are required to register with HDB within seven days from the start date of the subletting. Flat owners are also...
General
CapitaLand's Australian unit, Australand, said on Thursday that it has established a 1.3 billion Australian dollar unsecured debt facility. This replaces existing secured facilities totalling A$1.15 billion. The new facility comprises three tranches: A$325 million expiring in June 2012, A$650 million expiring in June 2013 and A$325 million expiring in June 2014. Australand said the new facility reduces...
The Land Titles (Strata) (Amendment) Act, enacted by Parliament on May 18, will take effect from 15 July 2010. The key provisions of the new Act include: * Refinement of the Strata Titles Board's role to focus on mediation for en bloc sale applications. * Imposition of a two-year restriction period, from the date of the initial failed en bloc attempt. The first retry requires approval from 50 per cent...
Despite complaints about ever-rising property prices, some private properties are still valued below their original purchase price. Shin Min Daily reported that even with the recent boom in the property market, some condominiums which are more than 10 year old are priced about 20 per cent cheaper than newly built ones. Home buyers in Singapore tend to favour the latest 'flavour' on the market, property...
New rules come into effect today The rush to complete the process of a couple of en bloc sales this month have probably paid off for the owners. This is because if there had been any delay, their properties would be subject to new en bloc rules which will come into effect today. Two recent en bloc sales sealed this month are the People's Mansion at Lorong 31 Geylang sold for $42.68 million, and Meng...
Location : 333 New Bridge Road (District 2) Tenure : 99 years leasehold Year of Completion : 2013 Site Area : 46,737 sqft Total Units : 68 (1 Block of 6 Storey) Unit Types : 1 bedroom ~ 484 sqft 1 bedroom with terrace ~ 484/ 668 sqft 2 bedroom ~ 678/ 754 sqft 2 bedroom with terrace ~ 732/ 807/ 829/ 1,012 sqft 2+study ~ 1,206 sqft 2+study with terrace ~ 1,615 sqft Contact us at [email protected]...
More prime district sites may come to market A collective sale is said to have been sealed for Meng Garden Apartments off Killiney Road for $137 million or about $1,380 per square foot per plot ratio, including an estimated development charge of $681,000. This is the biggest collective sale transacted this year and the first in a prime district. It also takes the year-to- date tally to 16 deals at about...
Singapore is among the most active regional investors in the Asia Pacific region when it comes to cross border commercial real estate investments. Property consultant DTZ Research said investors from Singapore, Hong Kong and Australia spent a total of US$1.8 billion in the second quarter. The money targeted predominantly the markets in China, Singapore and Hong Kong. But the volume of commercial real...
Changes to the Land Strata Titles Act will be effective from Thursday, 15 July, after the Amendment Act was enacted in Parliament on 18 May. The amendments seek to provide more clarity to the en bloc sales process and balance the interest of property owners. Among them, a two-year restriction period will be imposed starting from the date an initial collective sale attempt failed. The objective is to...
Fourteen strata shop units on the second storey of Holland Road Shopping Centre have been put up for sale. The four-storey block shopping centre is located at 211 Holland Avenue. The units have separate titles but are to be sold jointly. They occupy a total gross floor area of 5,543 square feet. All the units are currently tenanted and the tenancy will expire in 2013. Property consultant Colliers...