If you’re shopping for a new home or selling one, you can now negotiate with your property agent on the appropriate commission. The Institute of Estate Agents (IEA) will remove its guidelines on property agents’ commissions next month, to fall in line with the Competition Act. Consumer watchdog CASE has welcomed the move, pointing out that it is not compulsory to have agents facilitate a property...
General
There are many superlatives attributed to Singapore and the city-state has been consistently ranked high for a number of reasons in reports from all over the world. Situated at the crossroads of international trade routes, Singapore is a top location for foreign investors, be they multinationals, part of Europe’s dynamic middle-market or technology start-ups. The on-going liberalisation of markets and...
Mass market take-up rate still good despite slowdown in luxury sector There are still signs of life in the mass housing market, despite signs that the luxury sector is flattening out, according to the head of Singapore’s biggest developer. “The outlook for Singapore residential prices will probably be very flat,” saidMr Liew Mun Leong, chief executive of CapitaLand. “The mass market take-up rate...
PropNex rolls out measures to win customers’ trust and confidence IF YOU discovered that the agent you had hired to sell your flat was also quietly acting for the buyer, you’d probably be hopping mad and looking for some kind of recourse. Unfortunately, there is nothing by way of laws over real estate practices that you can turn to. Property agencies like PropNex, however, are banking on...
The freehold property comprises a land area of 34,854 square feet and consists of a 5-storey block of super luxury residential units with attic and basement carparks. There will be 16 super luxury triplex units with ultra high end fittings and fixtures. Each unit spread over three stories, will have its own pool, private gardens and balconies, thus creating the sense of living in a landed property but...
It was caused not by a jump in demand, but by a contraction in supply LAST week, I suggested that the private housing oversupply may have been understated. This is because units that have been bought by investors can still be considered as part of the housing supply until they are resold or are tenanted. If the rental income cannot cover the mortgage payments and if the owners are highly geared, then...
THE public first got wind of the ambitious vision last August, when Prime Minister Lee Hsien Loong spoke of giving the 56-year-old Dawson Estate a new face. Now, the surgeons who will design its new face have been appointed, and flats could go on sale by next year. Construction is expected to start six months after the sale and the new generation of flats would be ready by around 2014, said Ms Grace Fu,...
AFTER a record performance last year, JTC - Singapore’s biggest industrial landlord - expects demand for industrial space to weaken in line with slowing economic growth this year. Operating income in fiscal year 2007 rose 5 per cent to $1.1 billion for the state-owned developer, due mainly to higher allocation of ready-built facilities and prepared industrial land. Take-up of its net industrial land...
Applications for Park Central@AMK roll in, but how many will translate into actual sales? SINCE its launch last week, :more than1,000 applications have been received for 578 units at Park Central@AMK, Singapore’s third condominium-style public housing development. With developer United Engineers (UE) pricing its Design, Build and Sell Scheme (DBSS) project at $490 psf to $500 psf, it remains to be seen...
Two award-winning private architects have been officially appointed by the Housing and Development Board (HDB) on Wednesday to put a new spin to the old Dawson Estate in Queenstown. SCDA Architects Pte Ltd and WOHA Architects Pte Ltd were earlier commissioned to draw up plans for two separate public housing sites at the junction of Margaret Drive and Dawson Road. The new flats will be launched for sale...