Australia is planning to introduce fees for foreigners who buy residential properties there. But some property watchers say the impact on Singaporean buyers is unlikely to be significant. Buying properties Down Under may soon cost you more if proposals to charge extra fees on foreign buyers are approved. Among the suggestions are: For properties below A$1 million, foreign buyers will be charged...
Singapore has lowered development charges (DC) for non-landed residential projects, with the biggest decrease seen in the north-eastern region. In a news release on Friday (Feb 27), the Ministry of National Development (MND) said that the DC rates have fallen on average by 3 per cent for land for non-landed residential property. Seventy-three out of 118 sectors saw decreases ranging from 2 per cent to...
Luxury property developer Ho Bee Land said on Friday (Feb 27) its net profit fell 44 per cent in the fourth quarter from a year ago, hurt by a drop in fair value gains which offset a rise in rental income. Ho Bee, which owns the Metropolis in one-north and is known for its Sentosa developments, earned S$285.2 million in the three months ended December, down from S$506 million in the same period a year...
Developers in Singapore may soon get help in meeting new construction requirements introduced in November last year. Speaking at the annual Chinese New Year celebration lunch organised by the Real Estate Developers' Association of Singapore on Friday (Feb 27), Minister in the Prime Minister's Office and Second Minister for the Environment and Water Resources Grace Fu said details will be announced next...
Amid the Republic’s Smart Nation drive, a developer here has teamed up with technology giant Samsung to build future “smart homes” which will, among other things, recognise owners’ lifestyle patterns. For example, owners would be greeted by lights that are turned on automatically and the whirling sound of the coffee machine when they wake up. On Wednesday (Feb 25), Qingjian Realty (South...
Minister for National Development Khaw Boon Wan said there will be new development projects in Potong Pasir to improve the living environment for residents. He said this in a written parliamentary reply to a question from Non-Constituency Member of Parliament Lina Chiam on plans for Potong Pasir and Lorong 8 Toa Payoh over the next five years. Mr Khaw said the projects will include the development of...
Keppel Corp's offer to buy over the remaining shares of Keppel Land for up to S$3.2 billion has been described as "not fair but reasonable" by independent financial adviser KPMG Corporate Finance. KPMG Corporate Finance, which is advising Keppel Land's independent directors, said that while Keppel Corp's base and higher offer prices of S$4.38 and S$4.60 per share were made at substantial premiums to...
Building rental units next to new Build-to-Order flats and getting real estate students to also study social sciences - some of the ideas raised by Social and Family Development Minister Chan Chun Sing to have more social inclusiveness in Singapore. Mr Chan was speaking to 50 engineering and real estate students from the National University of Singapore (NUS) and Nanyang Technological University (NTU)...
A new site at Tuas South Street 6 is up for sale, announced JTC Corporation on Tuesday (Feb 24). The 0.7-hectare site was launched for sale by public tender under the first half 2015 Industrial Government Land Sales (IGLS) Programme. The Confirmed List site is zoned for Business-2 development and has a 20-year 3-month tenure, with a maximum permissible gross plot ratio of 1.0, JTC said in its press...
The average size of executive condominium units has become smaller over the years, say property analysts. And the trend is likely to continue as developers struggle between maintaining their bottom lines and keeping units affordable for buyers. Executive condominiums (ECs) were introduced about 20 years ago, and since then, unit sizes have been shrinking. According to property firm SLP International,...