Property experts say the Design, Build and Sell Scheme (DBSS) is losing its relevance and should be scrapped. The scheme was suspended in 2011, but came under the spotlight after recent complaints by residents over defects in their new DBSS flats. The Housing and Development Board (HDB) says the scheme is not currently its priority. One four-room DBSS unit at Ang Mo Kio gave its owner nightmares....

Developers of executive condominiums (ECs) are becoming more creative in their efforts to attract buyers amid softer market conditions. Some have introduced new types of facilities in their projects, while others are offering yoga, dance and baking classes. An upcoming EC in Sengkang, called The Vales EC, will offer two-storey villa units. They are a sprawling 159 square metres each and come with...

Despite sluggish sales of new private homes, a residential site in Toa Payoh drew a massive 14 bids at the close of the auction on Thursday (Jun 18), indicating strong demand from developers for sites in mature housing estates. The Housing and Development Board (HDB) said the 12,154.6 square metre, 99-year leasehold site at the junction of Lorong 6 and Lorong 4 Toa Payoh attracted a top bid of S$345.86...

Metro will shut its Sengkang department store at Compass Point as the lease is expiring in August and will not be renewed, ending a 12-year association with the mall. "On the exact date of closure, Metro's management is still working on the matter," a Metro spokesman said in response to a query from Channel NewsAsia. He said Metro would like to continue serving residents in the Sengkang area, but...

Located well within the prime city fringe central region, Commonwealth Towers condo is a 99 leasehold development and will feature 845 residential units on impressive 43 storey blocks. Standing tall along Commonwealth Ave and set by the Queenstown residential area, Commonwealth Towers is also located right at the doorstep or just 1 minute away from Queenstown MRT. Commonwealth Towers is without a doubt a...

A residential site in Toa Payoh drew 14 bids at the close of the auction on Thursday (Jun 18), indicating strong demand from developers for sites in mature housing estates. The Housing and Development Board (HDB) said the 12,154.6 square metre, 99-year leasehold site at the junction of Lorong 6 and Lorong 4 Toa Payoh attracted a top bid of S$345.86 million from a group that includes Evia Real Estate,...

Singapore’s office market is expensive compared with Australia and Japan because of a space glut and slowing rental growth, according to Union Investment, Germany’s largest fund manager. Office rents peaked in the first quarter as the city- state’s economic growth shows signs of tapering, according to Cushman & Wakefield. Grade A office rents in the central business district could slide 14 per...

The owner of Asia Square Tower 1 may sell the building for more than S$4 billion after receiving expressions of interest from potential buyers. This is according to Bloomberg, which quoted BlackRock real estate managing director Greg Lapham in a report dated Jun 17. BlackRock, which also owns Asia Square Tower 2, hopes to close the deal by the end of the year, Lapham said. Asia Square Tower 1, which is...

A residential site at West Coast Vale has been released for sale under the confirmed list of the first half of the Government Land Sales (GLS) Programme, the Urban Redevelopment Authority (URA) announced on Thursday (Jun 18). The site, which spans about 19,000 square metres (sq m) and has around 53,000 sq m in permissible gross floor area, can potentially yield about 595 residential units, URA...

The annual churn compounded by the sluggish property market has led to more than 2,000 property agents leaving major real estate agencies here in the first three months of the year, industry data showed. As of Apr 1, there were 23,947 agents, an 8 per cent drop from 26,014 towards the end of last year. Earlier this week, the Ministry of Manpower’s latest labour market report showed that the number of...