HDB launches 3957 BTO flats
The Housing & Development Board (HDB) launched six new Build-To-Order (BTO) projects last Friday.With a total of 3,957 new flats, this is the single largest BTO launch, surpassing the 3,185 BTO flats offered last month.“The government has certainly responded to the public’s demand...
Continue Reading • 30 May 2011
Khaw tells HDB to build more flats
National Development Minister Khaw Boon Wan revealed in his Housing Matters blog on Friday about some policy changes that his ministry will administer.“Given robust demand, I told them (HDB) to proceed to build, knowing that the orders will definitely come,” wrote Mr. Khaw.“In...
Continue Reading • 30 May 2011
Spore's economy could overtake HK's
Singapore’s gross domestic product (GDP) could outpace Hong Kong’s in the next few years, or even this year, according to Chua Hak Bin, an economist from the Bank of America Merrill Lynch.For Q1 2011, Singapore’s GDP was registered at US$63.9 billion. This has overtaken Hong...
Continue Reading • 30 May 2011
More rental flats needed, says Khaw
Singapore needs to develop “tens of thousands” of subsidised rental flats to meet the demand and the sooner, the better, said new National Development Minister Khaw Boon Wan.“For rental flats, we are studying, but all I know is we need to build more. How fast we can meet the...
Continue Reading • 30 May 2011
MP Tin Pei Ling tackles HDB income ceiling issue on Facebook
Tin Pei Ling, a Member of Parliament (MP) for Marine Parade GRC, tackled the issue of income ceilings for housing on her Facebook page on 27 May 2011.In a post entitled “Short note on housing 1: Income Ceiling — a ‘ceiling’ that stifles? Likely,” Ms. Tin justified...
Continue Reading • 30 May 2011
RWS to open new nature-friendly hotel in 2012
Equarius Hotel in Resorts World Sentosa (RWS) is expected to open next year, with the topping-out ceremony held on March 27 led by Tan Sri Lim Kok Thay, Chairman of the Genting Group and Resorts World Sentosa.“This topping-up ceremony of Equarius Hotel is a momentous milestone for us, as it...
Continue Reading • 30 May 2011
Asian buyers dominate London's new-homes market
About 60 percent of newly-built properties in Central London were sold to Asian buyers from November 2010 to April 2011, according to Knight Frank’s latest study.This was primarily attributed to the favourable exchange rate and London’s status as the leading destination for...
Continue Reading • 30 May 2011
Borrowers unhappy with US govt's mortgage plan
Struggling home owners in the US who sought the help of the government’s foreclosure prevention programme, have had in most cases, negative experiences, according to a congressional report.A study by the Government Accountability Office (GAO) revealed that three-fourths of nearly 400...
Continue Reading • 27 May 2011
Property prices in HK district surge to HK$8,400 psf
Home prices in Wong Tai Sin, a district in Hong Kong have increased to an average of HK$8,400 psf, following the release of an additional 50 flats by Kerry Properties at its Lions Rise project in the area.Previously, the average selling price of flats in the secondary market in Wong Tai Sin was...
Continue Reading • 27 May 2011
Khaw blogs about housing issues
Newly-appointed National Development Minister Khaw Boon Wan revealed in a recent blog post that young couples, divorcees with children and low-income families will be the immediate focus of the ministry.In the first entry in his blog, entitled Housing Matters, Mr. Khaw wrote, “I am not a...
Continue Reading • 27 May 2011
Raffles to open Istanbul hotel next year
Raffles Hotels & Resorts has announced that it will open a hotel in Istanbul next year, under the brand name Raffles Istanbul Zorlu Center.The Zorlu Center will become Turkey’s first and only mixed-use project, comprising a hotel, offices, shops, residential property and a...
Continue Reading • 27 May 2011
Sembawang site attracts S$191.8m bid
The tender for a 99-year leasehold site at Sembawang Road / Jalan Sendudok closed yesterday, with Hao Yuan Investment offering the highest bid of S$191.8 million.“The top bid of S$191.8 million or S$460 psf ppr is somewhat higher than market expectations back in March 2011,” said Li...
Continue Reading • 27 May 2011
Boustead profit slips
Mainboard-listed Boustead Singapore has posted a net loss of S$1 million in the fourth quarter ended 31 March 2011, attributed to provisions made for two projects in Libya after the outbreak of civil unrest.Meanwhile, Q4 revenue increased eight percent to S$110.1 million.In terms of full year...
Continue Reading • 27 May 2011
Aussie mortgage delinquencies hit record high
Australian mortgage delinquencies reached a record high in Q1, primarily attributed to Christmas spending, a November interest rate hike and the recent natural disasters, according to London-based Fitch Ratings.Mortgages that are more than 30 days overdue increased to 1.79 percent of the...
Continue Reading • 26 May 2011
Non-landed luxury home prices remain stable
Savills Singapore has reported that the prices of non-landed luxury homes it monitored remained steady in the first quarter of the year.Savills’ data showed that the average price of non-landed luxury private homes remained steady at S$2,269 psf in the first quarter, rising marginally by...
Continue Reading • 26 May 2011
Sim Lian holds highest unsold units from GLS sites
Some 2,781 unsold residential units were included in the land bank of Sim Lian Group, which holds the highest number of unsold homes from government land sales sites it acquired in 2010 and 2011, according to a Knight Frank report.It added that Sim Lian’s portfolio has 660 executive condo...
Continue Reading • 26 May 2011
HDB launches Punggol EC site for sale
The Housing & Development Board (HDB) has launched a public tender for an executive condominium (EC) housing site located at the junction of Punggol Way and Punggol Field.The site, which was launched under the confirmed list of the 1H2011 Government Land Sales (GLS) programme, has a total...
Continue Reading • 26 May 2011
Executive condos return to the spotlight
Executive condos (EC), a hybrid of private and public housing, are now returning to the spotlight.On 26 May, the government launched the 11th EC site since 2010, a plot in Punggol that can house around 720 homes.Meanwhile, Chip Eng Seng and NTUC Choice Homes recorded rapid first-day sales for...
Continue Reading • 26 May 2011
StanChart introduces 60-minute mortgage approval
Standard Chartered bank has announced a new programme that offers faster approval of mortgage applications.The bank is now guaranteeing a 60-minute approval of home loan applications, failing which, the customer will have S$100 credited to their mortgage loan repayment account.The new programme...
Continue Reading • 25 May 2011
Buyers snap up Terrasse condo units
Strong home sales continued over the past weekend, as MCL Land sold more than 150 units at its Terrasse condominium project in Hougang.Units at the 414-unit development in Hougang Avenue 2 were sold at an average price of S$950 psf.The 99-year leasehold project comprises apartments ranging from...
Continue Reading • 25 May 2011