Prices of Housing and Development Board (HDB) flats are at their highest on record. According to preliminary estimates from the HDB on Monday, the Resale Price Index of public flats stood at 150.7 in the fourth quarter of 2009 – highest on record since data was compiled in 1990. Estimates show that prices of resale flats rose 3.8 per cent in the last three months of 2009, the fastest pace of growth...
General
The improving market condition has prompted Singaporeans to return to investing, but they are also more cautious than before. These are among the findings from the latest Citi Financial Quotient (Fin-Q) Survey 2009, which garnered 400 Singapore respondents for the annual survey. According to the survey, 13 per cent of the respondents who had stopped investing during the financial crisis have now resumed...
From the opening of the two integrated resorts to a new report due on the Singapore economy, 2010 looks set to be a busy year. The economy dominated headlines in 2009 and will continue to do so in the new year. The Economic Strategies Committee Report on how best to take the country forward is expected by end-January. The Jobs Credit scheme, which helped saved jobs during the recession, will wind down by...
The Skybridge at the Pinnacle@Duxton offers a commanding view of the city. Residents are definitely enjoying what they paid for, but from Friday onwards, non-residents can enjoy the view too for a price. Non-residents can access the Skybridge, which straddles the 50th floor of the buildings, by paying S$5 per person. As of 5pm on Friday, 26 people had taken up the offer, soaking in the panoramic view of...
Five wet markets began their new lease with supermarket giant Sheng Siong on Friday. But some tenants have left, suspecting rental costs would increase after three months. Moreover, stallholders at some markets reported a 20 per cent decrease in customer traffic. At the Fajar Market in Bukit Panjang, five out of 22 stalls have closed down. Among them were those that sold fruits, dried goods and...
There is much to attract shoppers to Orchard Road this year-end shopping season. With three new malls open this year in the prime shopping district, retailers have pulled out all the stops to attract customers. And while the new malls enjoy the novelty factor, the more established ones appear to be holding their own. For instance, Palais Renaissance said it saw an initial drop in traffic of between 10...
The Housing and Development Board’s (HDB’s) latest Build-To-Order (BTO) exercise saw lukewarm demand for smaller units in non-central areas. Housing analysts said this may be due to a shrinking target segment for smaller flats. Singaporeans like to think big, especially when it comes to housing. But Singaporeans wanting a bigger house may not be the only reason for the low demand for smaller...
Singapore's gross domestic product climbed by 3.5 per cent in the fourth quarter of 2009, but growth for the full year is still negative at minus 2.1 per cent. In his New Year message, Singapore Prime Minister Lee Hsien Loong said that next year could see 3 to 5 per cent growth. And observers believe this could result in a move away from manufacturing as the key driver of Singapore's economy. After a...
Singapore achieved 3.5 per cent growth in the fourth quarter of 2009 - after negative growth in the first and second quarters, and 0.6 per cent growth in the third quarter. But for the whole year, growth is still negative at minus 2.1 per cent. The Trade and Industry Ministry had forecast GDP growth for 2009 at minus 2.5 per cent to minus 2.0 per cent. Charting out the goals for 2010 in his New Year...
Regency Park may be 19 years old, but the 292-unit condominium has recently been on the radar of property investors. On Nov 20, three caveats were lodged for its units, with average prices ranging from $1,584 to $1,727 psf. Alexz Wan, an associate with Propmax Real Estate and a property marketing agent who specialises in the project, says investors are betting that new launches in the neighbourhood will...