Property Singapore 

Lease Buyback Scheme extension: Details likely ready by early 2019

The details of the Lease Buyback Scheme’s (LBS) extension to all flats should be ready by early next year, Minister for National Development Lawrence Wong said yesterday. The announcement that the LBS would be extended to cover five-room and larger flats was made in August this year. Under the LBS, flat owners aged 65 and above who meet several other criteria can sell part of their flat’s lease to the Housing Board while retaining the length of lease based on the age of the youngest owner. The proceeds from such a sale…

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HDB HDB Flats Property Singapore 

‘Forest Town’ Tengah’s first batch of HDB flats to be launched in November

SINGAPORE: Around 1,500 HDB flats will be the first to be launched in November this year at Tengah, the first new town in more than 20 years. Announcing this in a blog on Sunday (May 13), National Development Minister Lawrence Wong said this will be a “substantial offering” with a “good mix across different flat-types”. “Over the new few years, we will continue to have a steady stream of Tengah flats. When completed, Tengah Town will grow to about 700 hectares, roughly equivalent to Bishan in size,” Mr Wong said. He added…

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News Property 

Building maintenance to be part of design, and not afterthought, as part of industry overhaulBuilding maintenance to be part of design, and not afterthought, as part of industry overhaul

As part of the government’s real estate industry transformation map, a new framework to overhaul the building maintenance sector is set to be launched by the end of the year.PHOTO: ST FILE SINGAPORE – A building manager takes over a building, only to find that his maintenance equipment cannot fit through the narrow corridor of the new structure. It is a scenario building managers here say happens all too often because maintenance is typically regarded as an afterthought – something to be considered only after the gleaming building is complete.…

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News Singapore 

Fewer people applying for BTO flats, continuing downward trend

Members of the public looking at a BTO flat model at the HDB Hub. (Photo: TODAY/Wee Teck Hian) SINGAPORE: Fewer people are applying for Build-to-Order (BTO) flats, continuing a downward trend in the number of applications received for the units. In November’s sales exercise, about three applications were received for every two flats, across all flat types offered. As at 5pm on Monday (Nov 20), the overall rate for three-room and bigger flats was 1.5, compared with 1.6 in August, 2.9 in May and 3.3 in February this year. More…

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Property Singapore 

Future condos could have open design, fewer fences

Fenceless condominium One North Residences in Buona Vista. Members of the public can freely use its outdoor plaza as well as visit retail outlets on the ground floors of the residential blocks.ST PHOTO: ALPHONSUS CHERN Singapore could see more fenceless condominiums in future, with the Urban Redevelopment Authority (URA) nudging more developers to explore more open designs, The Straits Times understands. Such developments in land-scarce Singapore could feature more connectivity, boundaries of vegetation rather than fences, and be strategically located to encourage the sharing of courtyards and public amenities, said…

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Property 

S’pore drops out of top 20 list of world’s most expensive cities for expats

  The weakening Singapore dollar has made the city-state less expensive for expatriates. Singapore has fallen out of the top 20 list of the most expensive cities in the world, moving six notches down from 18th place last year to 24th in this year’s cost of living survey by ECA International, reported Channel NewsAsia. Topping the list is Angola’s Luanda followed by Hong Kong, Zurich, Geneva and Basel. Nonetheless, Singapore remained the 10th most expensive city within the Asia Pacific region, with Hong Kong taking the lead, followed by Tokyo, Seoul,…

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Property 

Singapore property prices to double by 2030: Morgan Stanley

    The protracted downtrend in Singapore’s property market is poised to end next year, with home prices set to double by 2030, Morgan Stanley said in a Wednesday note. “Property market bears expect slower population growth, an ageing population, and a structural growth slowdown to weigh on the long-term property market outlook,” the note said. “We disagree and believe home prices will double by 2030.” That implies a 5 to 6 per cent increase per annum and would mark a reversal from a long downtrend in home prices. In…

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Pasir Ris to get 2,000 new HDB flats

  Pasir Ris Town Centre will be transformed into a vibrant hub with an integrated bus interchange, a new Heritage Garden and partly-sheltered Town Plaza. Under the Remaking Our Heartland (ROH) programme, residents of Pasir Ris can look forward to about 2,000 new HDB flats and a new mixed-use project at the town centre, revealed the Housing and Development Board (HDB) on Saturday (29 April). Situated next to Pasir Ris Park, the public housing developments are expected to be launched in the next three to five years and will come…

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Property 

Upcoming District 9 condos to stir buying interest

  Two prime condominium projects are slated to hit the market in the second half of the year amid a significant pick-up in new private homes sales recently. Analysts say the District 9 projects – GuocoLand Group’s Martin Modern and New Futura by City Developments (CDL) – are likely to interest local and foreign buyers if developers can price the units “correctly”. Cushman and Wakefield research director Christine Li believes Martin Modern will be well-received, “as the high-end residential market seems to be bottoming”. Non-landed private home prices in the…

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Property 

Two freehold sites in Balmoral Road area for sale

  View of the freehold residential sites at Balmoral Road and Ewe Boon Road. Two adjoining freehold residential redevelopment sites within the Balmoral Road area have been put up for sale by public tender, revealed marketing agent Edmund Tie & Co. Launched in a concurrent but separate tender, the two sites at Balmoral Road and Ewe Boon Road are zoned residential, with a gross plot ratio of 1.6 and a building height control of up to 12 storeys under the 2014 Master Plan. The sites have a combined area of…

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