Boomtime buyers now big losers

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SINGAPORE — An ultra-luxury apartment with a sea view at Sentosa Cove has made the largest loss in the property market so far this year.

Originally bought for $11 million in 2011, the condominium unit at Seascape was sold for $6.35 million in October at a loss of $4.65 million.

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Stagnant housing prices: cause for cheer or gloom?

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By Janice Heng, via AsiaOne

SINGAPORE — Should stagnating house prices be a cause for cheer or worry? Housing Board resale prices have been virtually flat for the past 1 ½ years, and in the private property market, similarly tepid conditions have caused consternation among developers and property agents.

Yet in public housing, such price stagnation – or rather, stability – is arguably a desired outcome.

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Proximity Housing Grant has helped over 4,300 families: HDB

SINGAPORE: The Housing & Development Board (HDB) announced on Saturday (Dec 10) it has given out about S$83 million in Proximity Housing Grants (PHG) since the scheme was announced over a year ago, helping more than 4,300 families.

HDB said the response to the scheme “has been very encouraging” as it gives Singaporeans more options to buy a resale flat with or near their parents or married children, in their preferred location in the resale market.

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Singapore stresses under a wealth of worries

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SINGAPORE – Morale in Singapore is at rock bottom. The tiny Southeast Asian nation has worked hard in the 51 years since its birth to establish an outsize voice on the global stage. Now the city’s economy is in the doldrums and its influence is in question as China flexes its muscles.

The Lion City is heading for a recession, or two straight quarters of economic contraction, after the trade-reliant economy shrank 2 per cent in the July-September quarter. Overall this year, the government reckons growth will be no faster than 1.5 per cent.

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Property agency and agent fined over sale of NZ property

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SINGAPORE — The Council for Estate Agencies’ (CEA) Disciplinary Committee has slapped a $10,000 fine on real estate agency SQFT Global Properties Singapore for failing to supervise the conduct of its then agent on the sale and marketing of a New Zealand property in 2011.

The agent, Ms Paleenia Wong Mui Wah, was fined $6,000 for misrepresentation towards an investor of a unit in Albany Heights Villas, Auckland, said the CEA in a media release issued yesterday.

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Minimum occupation period for HDB’s fresh start scheme can be ‘flexible’: Maliki

SINGAPORE: The minimum occupation period of the Fresh Start Housing Scheme can be “flexible” depending on the progress of the household, said Minister of State for Defence and Foreign Affairs Maliki Osman on Saturday (Dec 3).

Fresh Start Housing, which opened for application on Thursday, is a scheme to help public rental families who once owned a Housing and Development Board flat to afford one again.

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