Six shophouses - three on Baghdad Street, and three in the Telok Ayer area - were put up for sale on Wednesday. With the sites for all six shophouses zoned for commercial use, purchases are open to both local and foreign buyers, with no additional buyer's stamp duty to be imposed. Three adjoining prime shophouses at 14, 16 and 18 Baghdad Street are up for sale as an entirety by expression of interest...

The number of owners a proxy can represent at general meetings for en bloc sales will be restricted from January 2021, said the Ministry of Law (MinLaw) on Tuesday (Sep 29). Under the Land Titles (Strata) Act (LTSA), an owner of a strata-titled property may appoint a proxy to attend general meetings for en bloc sales and vote on proposals that are submitted at such meetings. The proxy can also vote on...

Unitholders of CapitaLand Mall Trust (CMT) and CapitaLand Commercial Trust (CCT) on Tuesday voted "resoundingly" in favour of the proposed merger of CMT and CCT to form a new real estate investment trust (Reit), though CCT unitholders had lower percentage approvals than CMT unitholders. In a joint statement, the managers said more than 3,000 unitholders voted by proxy at CMT's extraordinary general...

Following the government's clampdown on Monday on the re-issuance of options to purchase (OTPs) by private housing developers, the head of the developers' body has urged the government to urgently consider allowing first-time upgraders from a HDB flat to a private property to defer payment of the additional buyer's stamp duty (ABSD) till six months after the completion of the private property. A similar...

Private property sellers will no longer be able to solely extend the period of time for a prospective buyer’s option to purchase (OTP) a residential unit, a circular by the Urban Redevelopment Authority (URA) said on Monday (Sept 28). An OTP is usually a three-week period when a buyer books his right to purchase a property from a developer in return for a cash payment, which is up to a hefty 5 per...

Freehold site Advance Apartment at 8 Lorong 25A Geylang is now available for collective sale by tender, after more than 80 per cent of the owners gave their consent, sole marketing agent JLL said on Monday. The owners are expecting bids in excess of S$26.5 million, the agent added. That works out to a land rate of about S$877 per square foot per plot ratio (psf ppr), or S$861 psf ppr after factoring...

Commercial building Maxwell House has been launched for collective sale via a public tender, the appointed property consultant Cushman & Wakefield announced on Monday. Owners holding not less than 80 per cent by strata area and share value have agreed to put the property on the market at a reserve price of S$295 million. Located at 20 Maxwell Road, the 13-storey property is built on a trapezoidal...

Amid the economic crisis, property cooling measures are all the more necessary for the “well-being” of Singaporeans, by encouraging prudence and caution in their property purchases, National Development Minister Desmond Lee said on Wednesday (Sept 16). He made the comment in response to questions from PropNex chief executive Ismail Gafoor during a dialogue session at the PropNex Mid Year 2020...

Pent-up demand continues to drive new home sales with 1,227 units sold in Singapore in August, an 11-month high with confident buyers pushing prices upwards amid worsening economic conditions and rising unemployment. The high number of transactions surprised some because it was also the Hungry Ghost month, but it got an extra lift from Forett At Bukit Timah, a freehold development that was launched on...

A 99-years leasehold condominium jointly developed by Hong Leong Holdings and City Developments Limited will begin previews by appointment from Sept 12, Hong Leong Group said in a statement on Wednesday. Early-bird prices for Penrose condominium, which is located at Sims Drive in District 14, start from S$788,000 for units with one bedroom, S$943,000 for those with two bedrooms, S$1.33 million for three...