LICENSED moneylenders who exploit HDB resellers are advised to curb their activities: The Ministry for National Development (MND) is keeping a close watch on you. In Parliament yesterday, National Development Minister Mah Bow Tan said: "HDB flats are not meant for short-term profit-taking. They are not meant to be used as collateral for loans, whether to legal or illegal moneylenders." He was referring...
General
Analysts expect more en bloc sales activity from the city fringes and East Coast areas as developers cater to a growing mid-market segment. They were responding to proposals tabled in Parliament on Monday to smooth out the collective sales process. The new rules also seek to address the role of the Strata Titles Board and balance the interest of property owners. Collective sales have bounced back this...
Urban Redevelopment Authority (URA) closed the tender for the residential site at Upper Changi Road North and Flora Drive Tuesday. A total of six bids were submitted for the site and the top bid came from Tripartite Developers at S$148.3 million. This is a joint venture company formed by Hong Leong Holdings, City Developments and Trade and Industrial Development. Tripartite's bid is 81 per cent higher...
Suntec Real Estate Investment Trust (Suntec REIT) said its first quarter distribution per unit (DPU) fell 13.9 per cent to 2.51 cents from 2.92 cents a year ago. Distributable income for the quarter ended March 31 dipped 2.1 per cent to S$45.37 million on-year. Suntec Reit added that its net property income also fell 2.7 per cent to S$47.8 million from S$49.2 million in the same quarter a year...
Leveraged developers, rather than end buyers, are the most likely source of risk for real estate in China. And Citi says China's efforts to rein in its property price bubble are unlikely to affect other sectors, thanks to the government's effective control over policy. Momentum in China real estate continues to build. Citi says while the signs of a bubble are clear, the greatest risk within the market...
With first-quarter home sales rocketing to a higher-than-expected 4,446 units, property experts say that the strong sales momentum will probably spill over into the second quarter as developers plan more sizeable launches. In fact, at least 12 developments have been identified by property consultants as possible launches this quarter. These include Far East Organization's 361-unit Waterfront Gold at...
The Housing & Development Board (HDB) will make available a state land parcel in Pasir Ris for application under the Reserve List of the Government Land Sales (GLS) Programme from Wednesday. The site is located at the junction of Pasir Ris Drive 3 and Pasir Ris Drive 4. The 20,000 square metre, 99-year leasehold site is designated for condominium housing. HDB said some 380 residential units can be...
The Urban Redevelopment Authority (URA) has awarded the tender for an industrial site at Woodlands Avenue 12 to Boon Keng Development Pte Ltd. URA said the company submitted the highest bid in the tender for the site. The tender was launched on 25 March 2010 and closed on 21 April 2010. The land parcel was offered for sale on a 60-year lease. Source : Channel NewsAsia – 27 Apr...
Be prepared to face the authorities if your potted plants or cars obstruct sidewalks. Minister for National Development Mr Mah Bow Tan said in parliament yesterday that Land Transport Authority (LTA) and Town Councils can take action against owners who obstruct sidewalks with their potted plants. The Singapore Police Force can also fine car owners for illegal parking if they obstruct sidewalks. Minister...
THE Government has no plans to tweak policies for first-time home buyers, National Development Minister Mah Bow Tan said yesterday. In response to a question from MP Lim Wee Kiak (Sembawang GRC), who asked if the Government would encourage more first-time buyers to buy resale flats, Mr Mah said: "The most important point is whether we have enough flats overall for first-timers to purchase, whether new or...