Rental prices for Housing and Development Board (HDB) flats and non-landed private properties continued their downward trend in March, led by private apartments in the city fringes. Rental prices for private apartments fell by 1 per cent in March compared to the previous month. Year-on-year, rents were down 5.3 per cent, according to flash estimates by SRX Property. Private apartments in the city...
The breakdown of a partnership between Capitol Singapore's shareholders has led one of its shareholders, Perennial Real Estate, to apply for the holding companies to be wound up. The three companies - Capitol Investment Holdings, Capitol Retail Management and Capitol Hotel Management - together hold the assets of Capitol Singapore, an integrated development located at the junction of Stamford Road and...
PERENNIAL Real Estate Holdings (PREHL) has filed applications for the Singapore High Court to wind up three associated companies related to its integrated development, Capitol Singapore at City Hall, due to a deadlock with its partner. The three firms are Capitol Investment Holdings, Capitol Retail Management and Capitol Hotel Management. The applications were made because "the shareholders and...
It is “too early to declare victory” and unwind the property cooling measures currently in place, said Minister for National Development Lawrence Wong in the Committtee of Supply debate in Parliament on Monday (Apr 11). Responding to MPs who had called for the cooling measures to be lifted, Mr Wong explained that while the measures “have been effective in stabilising the property market”,...
Developers will be required to incorporate the needs of pedestrians and cyclists in their plans, announced the Ministry of National Development (MND) on Monday (April 11) as it unveiled further plans to move Singapore towards a “car-lite, people-friendly” city. Minister for National Development Lawrence Wong said the Land Transport Authority (LTA) and Urban Redevelopment Authority (URA) will require...
The Urban Redevelopment Authority (URA) has formalised a programme that will provide up to S$10,000 in seed funding for community-initiated projects to enliven public spaces, it announced in a news release on Monday (Apr 11). The programme called Our Favourite Place will facilitate community interactions and more people to experience and enjoy interesting public spaces, URA said. In order to...
Heartland retailers will receive greater financial assistance for upgrading works under the enhanced Revitalisation of Shops (ROS) scheme, announced the Ministry of National Development (MND) on Monday (April 11). The upgraded ROS package, which will cost about S$15 million yearly, was first revealed by Finance Minister Heng Swee Keat in his Budget statement last month. Since 2007, about half of all...
Details of the Fresh Start Housing Scheme, which aims to help second-timer families in rental flats buy a home, were released on Monday (Apr 11). Minister of National Development Lawrence Wong said his ministry aims to introduce the scheme by the end of the year. Speaking in Parliament as part of the Committee of Supply debates, Mr Wong said that the scheme targets parents with school-going children....
The Tengah new town, which had been announced earlier, will be integrated with Jurong Innovation District and planned as a "Forest Town", announced National Development Minister Lawrence Wong in Parliament on Monday (Apr 11). Tengah new town will be next to the Jurong Innovation District, which was earlier announced by Finance Minister Heng Swee Keat during his Budget 2016 statement, said Mr Wong. The...
PRICES of non-landed private homes in the resale market inched up 0.3 per cent last month, compared with February, SRX Property estimates. This was buoyed by the Rest of Central Region (RCR) and Outside Central Region (OCR), which posted 0.1 per cent and 1.3 per cent price increases respectively. Resale prices in the Core Central Region (CCR) however slipped 1.7 per cent last month. For the overall...