Wheelock Properties to go private?
The death of Wheelock Properties CEO and Managing Director David Lawrence has raised speculation regarding the firm’s possible privatisation by parent Wheelock Group, as well as its future direction and link to SC Global.“This company has always been one of the potential candidates...
Continue Reading • 7 Mar 2012
Wheelock's David Lawrence passes away
David Lawrence (pictured), one of the pioneers of luxury property development in Singapore, passed away on Sunday at age 65.“The board of directors of Wheelock Properties (Singapore) Limited announces with regret and sadness that its managing director/chief executive officer, Mr David John...
Continue Reading • 6 Mar 2012
HDB debarment period waived for divorcees with children
Divorcees with full custody of all their children will no longer be barred for five years from buying a second subsidised flat from the HDB. Khaw Boon Wan (pictured), Singapore's Minister for National Development, also revealed that divorcees are no longer required to obtain prior consent...
Continue Reading • 6 Mar 2012
US govt expands mortgage assistance
The federal government will expand its mortgage assistance programme for the very first time to property investors who purchased multiple homes, assisting some speculators who drove up home prices and inflated the housing bubble.Under the revamped Home Affordable Modification Program (HAMP),...
Continue Reading • 6 Mar 2012
2 more programmes to make homes elderly-friendly
To further enhance the comfort and safety of the elderly, the Ministry of National Development has introduced another two new initiatives — Enhancement For Active Seniors (EASE) and the Car Park Lift Installation Programme.The EASE scheme, which is expected to cost around S$260 million,...
Continue Reading • 6 Mar 2012
Second-timers given more chances to acquire ECs
Second-time home buyers have been given a better chance of owning executive condos (ECs), after the HDB released a revised quota of flats intended for this group of buyers.The Housing Board announced that it will allocate 30 percent of EC units, from a previous five percent, to second-timers who...
Continue Reading • 5 Mar 2012
China's mortgage risks controllable, says expert
China’s mortgage risks are controllable, according to Yan Qingmin, Assistant Chairman at the China Banking Regulatory Commission (CBRC).His remarks come after more cities in the country witnessed declines in housing prices. Data from the National Bureau of Statistics of China revealed that...
Continue Reading • 5 Mar 2012
Toh Yi residents propose new site for elderly studios
Residents of Toh Yi estate (pictured), who had petitioned against the development of studio apartments for the elderly near their homes, have proposed an alternative location. However, their suggestion has irked around 50 residents living near the new proposed site, who have filed another...
Continue Reading • 5 Mar 2012
Khaw insists that an income earner paid S$1,000 can own a flat
National Development Minister Khaw Boon Wan has reassured the public that anyone with an income of at least S$1,000 can indeed afford a HDB flat.He said this after a heated exchange following Workers’ Party NCMP Gerald Giam’s observation that many younger low-income Singaporeans find...
Continue Reading • 5 Mar 2012
Yanlord Land's Q4 revenue up
Yanlord Land Group Limited, a high-end residential developer, announced that revenue for the fourth quarter soared 389.3 percent to RMB4.681 billion (S$927.21 million), attributed to higher selling prices achieved for its projects as well as an increased gross floor area (GFA) delivered during...
Continue Reading • 2 Mar 2012
UK house prices, mortgage approvals rise
Prices of UK homes recorded its highest increase in almost two years when it rose 0.6 percent in February, up 0.9 percent over the same period last year, according to the latest Nationwide house price index.A typical UK home is now priced at £162,712 (S$324,165).The building society said...
Continue Reading • 2 Mar 2012
Raffles Education's subsidiary to divest China land parcels
Raffles Education Corporation Limited has announced that its wholly-owned unit, Hebei Oriental Zhuyun Property Development, will be divesting four land plots located in the Langfang Development Zone in Hebei, China for 1.05 billion yuan (S$208 million).Hebei Oriental had inked an agreement with...
Continue Reading • 2 Mar 2012
Proposal for shorter HDB flat leases untimely
Pasir Ris-Punggol GRC MP Gan Thiam Poh recently proposed that the government sell new flats with shorter leases to make them affordable for low-income families and younger people.However, a Straits Times report shows that several property experts oppose it, saying it is untimely and would mean...
Continue Reading • 2 Mar 2012
Banks must provide borrowers with mortgage fact sheets
Home buyers will need to do more active checking before signing off on their loans, with the Monetary Authority of Singapore (MAS) now requiring banks to provide prospective borrowers with a fact sheet during credit facility discussions.The fact sheet aims to help potential borrowers get the...
Continue Reading • 1 Mar 2012
PropNex, SingCapital launch rental protection service
PropNex Realty, in collaboration with financial advisory firm SingCapital, has introduced a Rent Protection Insurance (RPI) programme for landlords in Singapore, aimed at transferring the risk of loss of rental income suffered by a landlord to the insurer.“The introduction of the RPI will...
Continue Reading • 1 Mar 2012
Government revises DC rates
The Ministry of National Development (MND) has announced revisions on the development charges (DC) rates for the period covering 1 March to 31 August this year. Under the revisions, the DC rates for Group A (Commercial) was boosted by an average of six percent, with the biggest increase of 52...
Continue Reading • 1 Mar 2012
HDB to install more lifts at multi-storey carparks
Motorists parking their cars at HDB multi-storey carparks will no longer have to walk up and down flights of stairs, as the housing board will install lifts in all of its older multi-storey carparks, according to National Development Minister Khaw Boon Wan.Out of the 622 carparks affected, 74...
Continue Reading • 1 Mar 2012
CDL's Q4 profit down 32%
Property firm City Developments Limited (CDL) has posted a 32 percent decline in net profit to S$163.2 million for the fourth quarter ended 31 December 2011, mainly attributed to lower profits in the property rental segment.Revenue for the three-month period soared 7.4 percent to S$721.5...
Continue Reading • 1 Mar 2012
CIMB still offering loans to shoebox buyers
CIMB Bank has countered allegations that it has stopped approving new mortgages for shoebox apartments because of the risks involved, according to a report by The Business Times.This was in response to an article featured in The PropertyGuru newspaper and online last week which highlighted that...
Continue Reading • 29 Feb 2012
Marymount residents upset over NSE payout appeal
A number of residents living off Marymount Road are disappointed over the way their homes are being acquired for the construction of the North-South Expressway (NSE).They claim that the Singapore Land Authority (SLA) is putting pressure on them to withdraw their appeal regarding the compensation...
Continue Reading • 29 Feb 2012