The Housing and Development Board (HDB) will continue to keep tabs on flat owners who default on their HDB mortgage payments. It stressed that long term measures to help these owners manage their mortgage payment is the best solution, and that compulsory acquisition of the flat is a last resort. As of October 2008, some 33,000 flat owners owed HDB arrears of three months or more. They make up less than 8...
Structural networks like pipelines, cables, ducts and railway lines will be subjected to property tax by January 1. The provision is one of the changes to the Property Tax Act which was passed in Parliament on Tuesday. Senior Minister of State for Finance Lim Hwee Hua says the Inland Revenue Authority of Singapore (IRAS) currently taxes structural networks together with the building to which they are...
Parliament has passed the Property Tax Amendment Bill. One of the changes seeks to provide clearer rules under which structural networks of pipelines, cables, ducts and railway lines are taxed. This will bring Singapore in line with the practice in the United Kingdom and Hong Kong. While machinery is excluded from property tax, these structural networks - if they extend beyond the buildings which house...
The Urban Redevelopment Authority (URA) is seeking public feedback on the proposed names for two iconic spaces at Marina Bay. The first is the landmark bridge which comprises two linkways for pedestrians and vehicles going to Marina Centre from the Bayfront area. Designed to resemble the double helix structure of a DNA, the proposed names for the 280-metre pedestrian crossing are "The Double Helix" and...
YOU might have noticed that there are fewer ads for home launches. Perhaps you have also overheard that some condominiums in a prime area just went for a price you could only dream of a year back. Yesterday, official data bore out the coffee-shop talk that has been making the rounds. Reflecting weak consumer confidence, private homes sold and launched last month plunged to their lowest since June last...
IRs expected to meet economic targets, albeit with impact from crisis THE promise, when the Government decided to allow the Integrated Resorts (IRs) in, was a $1.5-billion increase in our Gross Domestic Product (GDP) and 35,000 new jobs - but will these economic rewards now materialise? And if so, when? In response to questions by Nominated MP Eunice Olsen and Non-Constituency MP Sylvia Lim yesterday,...
Las Vegas Sands said yesterday that doubts about its ability to continue as a going concern have been removed after the completion of an offering of common stock, preferred stock and warrants provided about US$2.1 billion ($3.1 billion) of additional capital. The Las Vegas-based casino operator’s independent accountants, PricewaterhouseCoopers, said in a filing with the Securities and Exchange...
Only 159 private homes were launched in October this year - the lowest in more than a year. The slide of almost 80 per cent from the 767 units launched in September is due to poor economic conditions, and the technical recession that has hit Singapore. About 194 units launched in August 2008, during the traditionally slow market in the seventh lunar month. The central region made up almost half the new...
New home sales in Singapore dived 70 per cent in October compared to September as home buying sentiment continued to sour. According to Urban Redevelopment Authority’s (URA) data, developers sold 112 new and uncompleted private residential homes last month, versus the 380 units sold in September. They launched just 159 units for sale, compared to nearly 767 in September. The most expensive unit sold...
Through an aspiration that made us reach for the stars, the ones that set us apart from the mundane, we have created a living that truly embraces you in rarity. Rising like a glistening jewel in the prestigious enclave of St. Thomas Walk, the magnificence of this 35-storey residence will own the attention of every passerby. A cluster of three apartments clinging to a triangulated central core that splits...