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Posted by on in Uncategorized
Serangoon North HUDC estate has been privatised successfully, making it the 14th of 18 such once-public housing estates to complete the journey.

The estate has become a strata-titled property under the Land Titles (Strata) Act, said the Housing Board in a statement yesterday.
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JTC Corporation yesterday reported that gross allocation - the leasing or rental - of prepared industrial land (PIL) to companies fell by more than half in the first quarter of 2014, but net allocation remained in the positive.
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Gross allocation declined from 118.1 hectares in the fourth quarter of 2013 to 48 ha in Q1, on the back of lower gross allocation in the generic land and Jurong Island segments, and a higher take-up rate in the chemicals and logistics sectors in the two segments in the preceding quarter, said JTC.
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Shoppers can expect more places to splash their cash at with a string of new malls scheduled to open by the end of the year.

An estimated 1.9 million sq ft of additional shop space will be ready by December, comprising about half the 4.1 million sq ft expected to come onstream in the next four years.
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Wheelock Properties's condominium project in Ang Mo Kio, The Panorama, is gearing up for a re-launch this Sunday, with agents saying that new prices could be as much as 10 per cent lower than those at the initial launch.

The re-pricing comes on the heels of earlier price cutting by its rivals to hasten sales amid mounting pressure from upcoming condo launches.
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Twenty-two strata office units at Parkway Centre in the Marine Parade Central area have been put on the market at $1,700-$1,800 per square foot. Inclusive of a 3 per cent early-bird discount for this month, the price range works out to $1,649-$1,746 psf.

Ranging from 732 sq ft to 1,356 sq ft, the units are located on various floors from the third to the top level of the 13-storey retail and office complex, which is on a site with a balance lease term of about 66 years.
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A commercial and residential site next to Potong Pasir MRT Station launched for sale on the confirmed list of the Government Land Sales Programme is expected to draw four to eight bids.

Property consultants' forecasts for the top bid varied from $650 to $900 per square foot of potential gross floor area. The tender for the site closes on Aug 19.
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This email address is being protected from spambots. You need JavaScript enabled to view it." target="_blank">Waterfront@Faber, which is located on the banks of Sungei Ulu Pandan, will open its doors for preview today.

Indicative prices of units are set to start from $863,000 for a two-bedroom dual key unit which, according to marketing material, ranges from 753 square feet to 764 sq ft. A three-bedroom dual key unit starts from $1.125 million and a four-bedroom unit starts from $1.32 million. Prices for strata-landed units start from $2.48 million.
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Commonwealth Towers, Hong Leong Holdings' high-rise condominium project, took off on its first day of sales yesterday. As at 8pm yesterday, out of the 300 units initially launched, 175 units had been snapped up, with more than 100 buyers in the process of having options issued.
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Posted by on in Uncategorized
Fewer flat owners are jumping at the chance to sell their Housing Board unit once they can, as weak resale prices make it more worthwhile to hold on.
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Two years ago, almost one in five of those who turned eligible to sell their flat - having stayed for the minimum five years - promptly did so within the year.
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Malaysian tycoon Quek Leng Chan has trumped his Singapore cousin, Kwek Leng Beng, at a state tender for a 99-year private housing site in Sims Drive.

His Singapore-listed GuocoLand bid $530.89 million or $687.88 per square foot of potential gross floor area for the nearly 2.4-hectare site fronting Sims Drive, Aljunied Road and Pan Island Expressway (PIE).
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Posted by on in Commercial
To provide more options for industrialists, the government has put up two sites at Tuas and one site at Woodlands for sale under the first half of its Industrial Government Land Sales (IGLS) programme.

The 3.9-ha site at Woodlands Ave 12 released by the Urban Redevelopment Authority has a 30-year tenure and a maximum permissible gross plot ratio of 2.5. It is zoned for industrial (Business 1) with an integrated Heavy Vehicle Park (HPV. The uses allowed under "Business 1" zoning include clean and light industries.
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Posted by on in Uncategorized
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This week's tweak in the total debt servicing ratio (TDSR) framework is targeted at a small group of stressed households that are struggling to get mortgage refinancing, analysts said in reports yesterday.

They were referring to the move on Monday by the Monetary Authority of Singapore (MAS) to exempt owner-occupiers from the TDSR cap of 60 per cent - specifically those looking to refinance the homes they bought before TDSR took effect last June 29.
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UOL Development's newest condominium development appears to be drawing strong interest from buyers, going by the number of cheques it has received so far.

The Riverbank @ Fernvale project has collected more than 500 cheques since its showflats opened for preview last week.
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Singapore households have been given a clean bill of health as far as their debt is concerned. Despite warnings of an increasing exposure to mortgages, net wealth has grown robustly over the past decade and stands at about four times GDP, according to the Monetary Authority of Singapore Financial Stability Review 2013.

While household debt continues to increase, savings are piling up faster and massive cash deposits outweigh total liabilities, the review showed yesterday.
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Posted by on in Uncategorized
The government's measures to cool the residential property market have had significant impact: Transaction volumes have plunged, new home loan sales have contracted and loan-to-value (LTV) ratios have improved.

"The series of property-related measures taken by the government over the past few years has dampened momentum in the market," said the Monetary Authority of Singapore Financial Stability Review 2013 yesterday.

But the government remains vigilant as price levels remain high, it said.
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National Development Minister Khaw Boon Wan has asked Singaporeans to share their ideas on proposals from the Draft Master Plan 2013 (DMP13) to aid its implementation.

Writing on his blog yesterday, he said: "Many of these ideas need strong support of the community to be implemented."

He added: "The more support we have, the more we can push the envelope to implement the plans."
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Posted by on in Uncategorized
Reducing the supply of Build-To-Order flats after a three-year construction boom makes sense given the reduced demand but resale prices are unlikely to be affected, say analysts.

This is because, now that pent-up BTO demand has been addressed, the two markets largely serve different groups.
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Posted by on in Uncategorized
Malaysia has granted a substantial tax break to a zone in a showpiece investment project near Singapore, a move likely to provide crucial support to a US$800 million initial public offering of the area's developer next year.

The Medini area in the southern state of Johor is the only section of the US$30 billion Iskandar Development Region to get an exemption from a 30 per cent property gains tax announced in October to cool soaring property prices, government officials said.
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Home loan growth is expected to slow further this quarter amid weakening residential property sales, analysts said yesterday.
However, prices are likely to remain elevated until at least the middle of next year despite several rounds of property cooling measures in recent years, they said.

The central bank said on Tuesday that home loan growth here had slowed, and the number of borrowers with unreasonably high levels of housing debt had improved after the measures.
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