The Singapore economy is expected to register growth of around 7.6 percent on-year for the fourth quarter, capping off growth for the entire 2007 at 8 percent, according to economists. They said financial services will be the main engine of growth for the economy, buffering the slack from the manufacturing sector. The government is expected to release the fourth quarter flash estimates on January 2. The...
There may be worries about the world economy – especially with the ongoing subprime crisis and rising standards of living – but that hasn’t stopped interest in luxury hotels from making a steady comeback. With the recent entry of a new player in Singapore’s luxury hotel industry, the exclusive St Regis, competition looks set to heat up. St Regis opened the Saturday before Christmas, but even...
More investors pump money into office property as reselling them could reap huge gainsIT WAS probably the most profitable “flip” in the property market. In a deal announced last week, GE Real Estate made a whopping 73 per cent profit on its initial $75-million investment, when it sold Anson House for $129.5 million, a year after purchasing it. The 13-storey building, located at Anson Road, is now...
Five blocks of flats in Tiong Bahru have been given a facelift, and they will be rented out to expatriates and foreign students. The rental for the units can cost up to S$4,500 a month. The flats are over 50 years old and are believed to be among the first to be built in Singapore. Katong Hostel successfully won the HDB tender to rent out the 120 available units. It invested S$3 million to renovate...
With the high-end luxury segment leading the residential sector in price increases this year, Singapore developers have been roping in global names to give their projects that extra touch of distinction.A growing number of partnerships are being formed, especially with companies in branded home furnishings. Reflections at Keppel Bay is among the high-end residential projects set to be completed in...
The number of food and beverage (F&B) outlets has tripled on Sentosa in the past two years. But it’s not just the upcoming integrated resort that’s attracting restaurants to start up on the island. Emily Liu and Joe Ou Yang got married in Beijing in February 2007. But the couple never found time to take their wedding pictures, till Joe got posted to work in Singapore recently. “My wife and I...
A shuttle bus service has been launched on Tuesday to ferry residents living in private estates at Springside and Springleaf in Yio Chu Kang to the nearest MRT station and bus interchange. The move came after feedback from residents about the lack of transport in the area. MP for Ang Mo Kio GRC Lee Bee Wah, who approached SMRT to provide the service, joined residents in taking the first ride on...
There were 30,168 resident births in the first 10 months of 2007. According to the National Population Secretariat, this was just 1 percent higher compared to the same period the year before. However, the shortfall in resident births is being compensated by a record number of foreigners who are calling Singapore home. The whole of last year saw 13,209 foreigners taking up Singapore citizenship and 57,310...
Historically individuals have purchased property in their country of domicile commonly as a principle residence. In some cases, an additional residence may have been bought for use as a holiday home. Property today however has developed into a truly global market as investors identify opportunities ever further afield and the idea of buying in foreign countries has become more widely accepted. Arguments...
A growing middle class seeking property in Vietnam will keep Singapore property developers there busy, even as its government plans a tax on capital gains. Last month, the national assembly of the socialist country passed new regulations to tax capital gains - 20 per cent on stock trade gains, and 25 per cent on property profits - from January 2009. “With regard to the recent proposal of introducing a...