BTO project Punggol Spring four times oversubscribed THE demand for public housing continues to be brisk. Case in point: The Housing Development Board’s (HDB) first build-to-order project this year at Punggol Spring is already four times oversubscribed. New flats aside, property agents have also described the HDB resale market as the kingpin for the real estate sector this year. The application for...

Singapore has received the thumbs-up from expatriate businessmen in the region as the cleanest Asian economy. In a latest survey by the Political and Economic Risk Consultancy (PERC), both Singapore and Hong Kong retained their top spots of first and second, respectively. Over 1,400 expatriates were asked to rank 13 Asian economies between January and February this year. The 13 economies were China,...

The demand for public housing continues to be brisk. HDB's first build-to-order project this year at Punggol Spring is already four times oversubscribed. New flats aside, property agents have also described the HDB resale market as the kingpin for the real estate sector in 2008. The application for Punggol Spring, where 494 units of four-room flats will be built, will not close until 17 March, but the...

Developer Boon Keng Development has put in the top bid of S$11.8 million for a landed housing site at Westwood Avenue. The price for the 150,700 sq ft site, which is being sold on a 99-year lease, works out to be S$78 per sq ft. Only two bids were received by the Housing and Development Board (HDB) for the plot. Sunway Concrete Products put in the lower offer of S$10.3 million. Property consultants CB...

People's attitudes towards loans are changing, according to a survey conducted by consumer finance firm, GE Money, last month. With the Singapore economy expected to moderate this year, two thirds of 365 consumers polled said they were more cautious about taking up loans. A total of 95 percent of respondents said flexibility was very important when applying for a loan. Almost half said they wanted...

The Ophir Rochor area is undergoing a revamp. And a landmark development has been planned for this new office district. The Ophir Rochor district has been slated to be a new growth extension from the Marina Bay area. An artist's impression of Ophir Rochor district. The first plot next to Parkview Square will be released for sale in June as part of the government land sales programme. Analysts expect...

New Ophir-Rochor land parcel marketed at premier property event in Cannes. A PRIME land parcel enveloping Parkview Square in Bugis may soon draw more top developers to Singapore, just as the Beach Road and Marina View parcels did last year. The 2.74 ha site, along Rochor and Ophir Roads, will comprise office and hotel space, said the Urban Redevelopment Authority (URA), which is pitching it to an...

Singapore will double the size of its financial district over the next 15 years, after demand for offices surged last year with the city-state seeking to become a centre for business in Asia. The city will add 2.82 million sq m of office space, the equivalent of Hong Kong’s Central district, the government’s Urban Redevelopment Authority (URA) said in an e-mailed statement yesterday. Occupancy of...

Kuwait Finance House (KFH) has allowed options to acquire 97 units of the high-end Goodwood Residence to lapse. The deal would have been worth S$818 million for developer GuocoLand, which has said that Singapore's property market appears to be cautious. The developer had granted Kuwait Finance House the options back in December. In a filing to the Singapore Exchange, GuocoLand said the two parties are...

Singapore's economy will grow 5.7 percent in the first quarter from a year ago, picking up slightly from a 5.4 percent expansion in the fourth quarter, a central bank survey showed on Monday. However, growth in the full year will slow from last year’s pace of 7.7 percent to 5.6 percent, the Monetary Authority of Singapore's (MAS) quarterly survey of 19 economists showed. In a statement, MAS added that...