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Dundee Road housing site

HY Realty, which shares the same shareholders as Chinese developer Hao Yuan Investment, has emerged as the top bidder for the land parcel at Dundee Road that drew nine offers.

Its S$483.18 million bid, which works out to S$871.14 per square foot per plot ratio (psf ppr) for the 99-year lease site, was 8.4 per cent higher than the second-highest bid, from Allgreen Properties.

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National Development Minister Khaw Boon Wan has revealed further details of the new "Two-Room Flexi" housing scheme that he said would give buyers more flexibility.

He first mentioned grouping studio apartments with two- room flats in the same category in the March Budget debate, offering buyers different lease lengths for the same flat type.

Last night, he announced the scheme's name on Chinese radio station Capital 95.8FM, saying it will aim to "give buyers more flexible leases depending on their individual needs".

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Posted by on in Residential

Home renters today could switch to buying in 2016, Nomura said in a Monday report.

More Singaporeans seem to be opting to rent their private homes these days compared to before. For those who started renting their private homes in 2014, when the time comes to renew their contract in 2016, Nomura believes that there will be enough impetus for them to buy instead.

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BNP Paribas in a Monday report said that it believes that immigration policies and the incoming private housing supply will make averting further declines in property prices more difficult than is widely thought.

This is against a general consensus that the authorities have enough controls in place to maintain a "desirable slow bleed" in residential prices.

The bank estimates that private property prices could fall a further 10 per cent over the next two years, which in turn could have a negative wealth effect and constrain private consumption growth.

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Financial support is the main way to help people who want to get a resale Housing Board flat near their parents, said experts.

This could mean giving a higher resale grant, or allowing more buyers to qualify for it.

As part of efforts to encourage extended families to live close together, the Government is studying whether such resale buyers can get more help, National Development Minister Khaw Boon Wan said last Friday.

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