General

Home owners will be allowed to rent out their flat or bedrooms to non-Malaysian non-citizen tenants for a maximum of two years from Jan 1, 2019, the Housing and Development Board (HDB) said on Tuesday (Dec 18). This is up from the current 1.5 years. The revised tenancy period will apply to all rental applications involving non-Malaysian non-citizen tenants that are received by HDB on or after Jan 1,...

Sales of private homes by developers in Singapore surged 52 per cent in November from a year earlier after asharp increase in the number of new projects launched, official data showed on Monday (Dec 17). The robust sales come - which follow government measures in July to cool the property market - at a time of the year when demand usually begins to wind down due to the start of the year-end holidays, an...

More than 30 collective sales sites have failed to find successful bidders at the close of tender, following the latest round of cooling measures introduced in July. In a bid to entice developers, around 15 en bloc projects have sought to lower their asking prices, according to Huttons Asia. One of them is Park View Mansions in Jurong, which relaunched its tender for a second time on Wednesday (Dec...

The government cannot take a hands-off approach to the property cycle and allow bubbles to develop, said National Development Minister Lawrence Wong as he explained the rationale behind July's cooling measures at the anniversary dinner of the developers’ body on Thursday. He also reasoned that had the authorities not intervened, private home prices this year are very likely to have exceeded a 10 per...

Motor trade entrepreneur Karsono Kwee’s Eurokars Group is expanding its property ownership in the prime Leng Kee motor belt. Eurokars is understood to be buying 23 Leng Kee Road for S$33 million from Yong Lee Lee & Company. Eurokars Group already operates out of the building, which among other things houses the showroom and service centre for Mazda, for which the group is the authorised distributor in...

A 3.8 hectare white site at Pasir Ris Central saw three bids from developers at the close of the tender on Friday. Among the bidders was Far East Organization, while Singapore Press Holdings and Kajima Development submitted a joint bid. The third bid was from Phoenix Residential and Phoenix Commercial; both companies are owned by Allgreen Properties and Kerry Properties, which are in turn linked to...

Resale prices of private non-landed homes in Singapore increased in November, after three straight months of declines after property cooling measures were introduced in July, flash estimates by real estate portal SRX Property has shown on Tuesday. Condominiums and private apartment resale prices strengthened by 0.2 per cent last month from October. This follows the 0.3 per cent drop in October, a figure...

Just when Singapore's residential property market was reviving after a four-year slump, government moves to curb the exuberance might play spoiler going into the new year. Home prices that are forecast to climb as much as 10 per cent this year could remain flat in 2019 and may decline as much as 3 per cent, estimates from property brokers compiled by Bloomberg News show. Home sales that lagged behind...

Park View Mansions will relaunch on Wednesday its collective sale tender with a 22 per cent lower reserve price than before, making it the latest case of owners dialling down their expectations amid a quieter en bloc market. More than 80 per cent of the owners at the 191,974 square feet (sq ft) development right by Jurong Lake Gardens have agreed to a reserve price of S$250 million, down from S$320...

A 2.75 hectare white site in Woodlands Regional Centre has been released for sale by the Urban Redevelopment Authority (URA) under the reserve list of the second half 2018 Government Land Sales programme. The mixed-use site has a maximum permissible gross floor area (GFA) of 115,747 square metres (sq m), with at least 45,000 sq m of this to be set aside for office use. The remaining GFA can be for...