Executive condominium (EC) prices look set to rise further with the close of two EC tenders at higher-than-expected bids in the past two weeks. The Sengkang EC site attracted a top bid of $315 per sq ft (psf) of gross floor area, while the Yishun EC site drew a top bid of $281 psf of gross floor area. Analysts estimated that the winning bidders will have to sell the units at Sengkang for $650 to $700 psf...
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Mr Mohamed Mustafa Shahulhamid has been looking for a resale flat in Little India for his son in the last six months. So far, his hunt has been fruitless. 'Many Indian families want to live in Little India. No Indian families are moving out and we cannot buy from the Chinese,' said the 51-year-old frozen food trader. Under the Ethnic Integration Policy, the Government has set ratios for ethnic groups...
The government will build more Executive Condominiums (ECs) to meet the housing needs of what is described as the "sandwiched group". For this year, ECs will make up 10 per cent of about 12,000 new flats to be built. National Development Minister Mah Bow Tan said this on Channel NewsAsia's programme, "Talking Point". He was responding to a question on prices for the market for ECs, which is regarded as...
IN A clear warning to those who sublet their flats illegally, the Housing Board (HDB) has moved to take back three apartments linked to a real estate agent who owns five private properties. One flat to be repossessed belongs to the real estate agent, Mr Poh Boon Kay, 61, and his wife, Madam Khoo Kim Cheng, 52, who had illegally sublet their four-room flat in Bukit Batok. The other two flats in Telok...
WORKS on a lift upgrading project in Eunos that had been delayed for about 10 months restarted yesterday. Progress was made at a meeting on Thursday when the Housing Board agreed to 10 out of 15 requests from unhappy residents. The home owners in Blocks 411, 415 and 417 in Eunos Road 5 had protested that new lift shafts already built blocked light and ventilation to their flats. The HDB, which stopped...
The Housing and Development Board (HDB) has taken action against 56 flat owners for illegal sub-letting between January 2008 and December last year. Most were fined between S$1,000 and S$21,000. One owner had his flat repossessed for blatantly flouting HDB's sub-letting rules. Giving details of the case, HDB said it first received feedback on the unauthorised sub-letting of a unit in Block 336 Bukit...
A CHINESE firm new to Singapore's residential development scene has topped the bidding for an executive condominium (EC) site in Yishun. Beijing-headquartered MCC Land (Singapore), which lost out on last week's tender for an EC site in Sengkang, was the highest bidder for the 15,074 sq m Yishun plot. Its $127.8 million bid, or $281.31 per sq ft (psf) of gross floor area, easily beat earlier analysts'...
The executive condominium site at Yishun Avenue 11 has attracted 10 bids. MCC Land Singapore put in the top bid of $127.8m for the 99-year leasehold plot. This translates into S$281 per square foot per plot ratio. The second highest bid came from Qingjian Realty, at S$118.8m, followed by Maxdin Pte Ltd which placed a bid of S$117m. The remaining offers range between S$46.8m and S$116m. Real estate...
ALJUNIED and Jurong town councils will raise their monthly service and conservancy (S&C) charges from April for the first time in five years. They have cited higher maintenance and operating costs - particularly for the numerous new lifts in the older estates - as reasons for the hike. Charges will go up by between 50 cents and $4.50 for Singapore homeowners, depending on the type of flat. This will...
I REFER to Sunday's report, 'Property agents call for curbs on subletting'. It was mentioned that the new measures taken by the Government to reduce speculation may not be sufficient to keep prices of resale flats in check, since prices may still be driven up by those who keep flats to rent out rather than to occupy. I believe a simple solution is to limit the number of HDB owners who can rent out their...