The Housing and Development Board (HDB) approved 200,000 applications for an HDB Loan Eligibility letter between 2012 and 2015 and of these, one in five, or 40,000, appealed for a larger housing loan. Appellants generally asked for a larger loan so they could widen their flat choices, without specifying a loan quantum, Minister for National Development Lawrence Wong said in a written parliamentary...

Demand for Executive Condominiums (EC) has slowed sharply in the past two years, following the introduction of cooling measures by the Government. Demand for the hybrid housing type was red hot in 2012 to 2013, when 14 out of 16 new EC projects were at least 33 per cent sold within the first month of their launches. To cool the EC market, the Government implemented measures in late 2013, including a 30...

Shops sold by the Housing and Development Board on a 30-year-old lease will be returned to the lessor - the HDB - upon the expiry of the lease, National Development Minister Lawrence Wong reiterated in Parliament on Tuesday (Mar 1). Where possible, and if in line with future planning intentions, HDB can consider allowing these shopowners to rent the shops after the lease expires, he added. In...

It is "too early" to relax the property market cooling measures, as doing so could result in a market rebound, Mr Lawrence Wong said in Parliament on Monday (Feb 29). The National Development Minister was responding to a question from Holland Bukit-Timah GRC MP Christopher de Souza, who asked if the Government would consider removing the Additional Buyers Stamp Duty (ABSD) for Singaporeans but retaining...

Vacancies at Singapore's gleaming office towers are nearing their highest level in almost a decade, with construction of the city-state's tallest building - GuocoLand Ltd's 64-floor block in the financial district - wrapping up just as the economy slows. Singapore's export-oriented economy has been hit by the slowdown in China and beyond, which has also put pressure on key sectors such as marine oil and...

Vacancies at Singapore's gleaming office towers are nearing their highest level in almost a decade, with construction of the city-state's tallest building - GuocoLand Ltd's 64-floor block in the financial district - wrapping up just as the economy slows. Singapore's export-oriented economy has been hit by the slowdown in China and beyond, which has also put pressure on key sectors such as marine oil and...

One Confirmed List site at Tampines North Drive 3 (Plot 3) and one Reserve List site at Tuas South Link 1 (Plot 1) have been launched for sale by public tender, JTC announced on Tuesday (Feb 23). The 0.58 ha site at Tampines North Drive 3 (Plot 3) has a 20-year tenure with a maximum permissible gross plot ratio of 2.5. The tender for this site closes on Apr 19, 11am. On the other hand, the 3.33 ha...

The tender for a residential site at New Upper Changi Road / Bedok South Avenue 3 has been awarded to CEL Residential Development, the Urban Redevelopment Authority announced on Friday (Feb 26). The site is situated near the Tanah Merah MRT station and multiple condominium developments. CEL Residential Development put in the highest bid in the tender - S$419 million - for the site, said URA. A total...

City Developments (CDL) has booked a record S$410.5 million in net profit for the three months ended Dec 31 last year. The Singapore property developer's net attributable profit after tax and non-controlling interests (PATMI) was up 6.6 per cent from S$384.9 million in the fourth quarter of 2014 “despite challenging market conditions”, said CDL in a statement issued on Thursday (Feb 25). CDL said...

Prices of completed non-landed private homes inched up 0.1 per cent in January compared to the month before, led by small units and units in the non-central region. This is based on flash estimates from the National University of Singapore (NUS) for the Singapore Residential Price Index (SRPI), after a revised 0.6 per cent price fall for completed private homes in December. January 2016 estimates are...