NS men should receive better housing grant, says Kin Lian
Tan Kin Lian, one of the four presidential candidates, has again expressed his views on the need to acknowledge the contributions of National Service (NS) men.He proposed separate housing grant programmes for male Singaporean citizens and new citizens.After completing NS, Tan noted that it is...
Continue Reading • 24 Aug 2011
Lippo ceases derivative transactions involving OUE
Overseas Union Enterprise’s (OUE) controlling shareholder, Lippo Group, has stopped a derivative transaction cited as the probable cause of market confusion and a further overhang on OUE’s share price.Lippo, which retains shares of OUE via Golden Concord Asia Limited (GCAL), began a...
Continue Reading • 24 Aug 2011
S'pore housing costs up 9.5% in July
The consumer price index (CPI) grew to a seasonally adjusted 0.6 percent in July, an increase from 0.4 percent in June, according to the Department of Statistics.It added that housing costs, including utilities tariffs and imputed rentals, grew 9.5 percent in July, an increase from 8.8 percent in...
Continue Reading • 24 Aug 2011
Tony Tan urges investigation into WP-PA dispute
Singapore presidential candidate Dr Tony Tan has urged the Housing and Development Board (HDB) to investigate the dispute over the transfer of public sites in Aljunied GRC, which is held by the Workers' Party (WP).The opposition party’s complaint claimed that HDB transferred 26 public sites...
Continue Reading • 24 Aug 2011
30 Chinese cities to implement measures to halt rising property prices
More than 30 second- and third-tier cities in China are expected to implement home purchase restrictions by end-August, according to a report by the China Securities Journal.“Reports on home prices in (second- and third-tier) cities have been submitted to the ministry of housing and...
Continue Reading • 24 Aug 2011
Challenges ahead for S-Reits
Numerous Singapore real estate investment trusts (S-Reits) have pursued greenfield developments this year, with Aims AMP Capital Industrial Reit, CapitaMall Trust, CapitaCommercial Trust, Ascendas Reit and K-Reit Asia all announcing their new developments, according to a report by Moody's.It said...
Continue Reading • 23 Aug 2011
NParks launches drive to help green the city
The National Parks Board (NParks) has announced that the areas underneath expressway viaducts and MRT tracks may be transformed into recreational spaces in the future.Citing the MRT idea as an example, NParks is encouraging the public to provide suggestions and ideas on how to improve green...
Continue Reading • 23 Aug 2011
Singapore luxury home prices drop 1.7% in Q2
Prices of luxury homes in Singapore dropped 1.7 percent in the second quarter, attributed to tight competition from new buildings in non-core locations, according to CB Richard Ellis’ (CBRE) latest report.It noted that while prices of luxury homes continue to fall slowly, other segments are...
Continue Reading • 23 Aug 2011
Hong Leong Garden Shopping Centre goes en bloc
Hong Leong Garden Shopping Centre at West Coast Way has been launched for en bloc sale with an indicative price of between S$160 million and S$170 million (S$752 psf ppr to S$794 psf ppr).Credo Real Estate, which is marketing the property, said the site is located next to the Hundred Trees...
Continue Reading • 23 Aug 2011
Developers pack more units in some property sites
A new study by Savills Singapore has revealed that five projects on sites sold under the 2006 — 2010 state land sales programmes will fetch at least 50 percent more units than the numbers indicated in the Government Land Sales (GLS) programmes.Kovan Grandeur at Tampines Road comprised the...
Continue Reading • 23 Aug 2011
Aussie landlords applying for home loans for properties in other states
Landlords in Australia are opting for home loans to increase their ability to acquire properties in other states, as indicated by the latest figures from Terri Scheer Insurance.According to the data, one-fifth of its customers have rental properties outside of their home state. “This...
Continue Reading • 23 Aug 2011
UK luxury housing market remains resilient: Savills
The luxury property market in the UK remains largely unaffected by the global economic crisis, according to British property broker Savills.It noted that residential property in prime London is a safe haven for investors despite the ongoing crisis, which has created a two-tier British...
Continue Reading • 22 Aug 2011
Grange Infinite buyers file complaint against developer
Buyers of 53 units at the Grange Infinite project in the Orchard Road area have filed a High Court action, claiming that the units are not as elegant, luxurious or stylish as promised.In a litany of complaints, the buyers also said that the fittings in the units were not “exceptionally...
Continue Reading • 22 Aug 2011
Several properties getting better rental yields
During difficult economic times, rental properties are less profitable for landlords. However, there are still some condominiums where rental yields can hit 5.7 percent.Condos such as Blossoms@Woodleigh, Adam Park Condo, The Jade and Far Horizon Gardens, have yields higher than five...
Continue Reading • 22 Aug 2011
High-end rentals set to drop further
Rents of high-end homes in Singapore will likely fall further, on the back of healthy supply and less generous packages for expats.Jack Teo, Associate Agency Head of GPS Alliance, said luxury home rents have dropped by two percent in six months. He noted that some of his clients have had to slash...
Continue Reading • 22 Aug 2011
S'pore must remain steadfast amid global challenges, says PM Lee
Prime Minister Lee Hsien Loong has urged Singaporeans to monitor world developments so they can respond quickly when problems arise.He sighted the current crisis in Europe, America and Japan and warned that the country could be affected directly by these global issues.“We've got to watch...
Continue Reading • 22 Aug 2011
Australia a top pick among inter-regional investors
Jones Lang LaSalle’s (JLL) latest Asia Pacific capital markets bulletin revealed Australia as the top choice for inter-regional investors.Named one of two AAA-rated countries in the Asia Pacific, Australia has been supported by good fundamentals of a transparent property market and economic...
Continue Reading • 22 Aug 2011
Keppel Land China acquires prime residential site in Wuxi
Keppel Land China Limited, through its wholly-owned subsidiary Merryfield Investment Private Ltd, has acquired a 21.5 ha lakefront residential site in Wuxi, China for approximately RMB1.937 billion (S$368 million).Keppel Land China said the site will be used for the development of 2,500 units,...
Continue Reading • 22 Aug 2011
HK mortgage plan attracts support from senior citizens
Senior citizens in Hong Kong are eager to take advantage of the new reverse mortgage programme that provides them with a monthly income while they reside in their homes.The Hong Kong Mortgage Corp (HKMC) has granted more than 30 applications since the programme’s debut on 11 July and has...
Continue Reading • 22 Aug 2011
BCA launches incentive schemes for builders and designers
The Building and Construction Authority (BCA) has launched the improved Buildability Framework, which integrates the latest constructability appraisal system to offer impetus for builders and designers to enhance their designs and adopt labour-saving construction methods.“The Ministry of...
Continue Reading • 22 Aug 2011