URA revises guidelines to reduce number of shoebox units, stem shrinking of private homes

Singapore — In a bid to reduce the strain new developments pose on local infrastructure, the authorities have moved to ensure that there will be fewer shoebox units offered in new private non-landed residential buildings outside the Central area.

The Urban Redevelopment Authority (URA) revised guidelines for such properties on Wednesday (Oct 17), making several changes that it said also aim to moderate the reduction in home sizes and “safeguard the liveability” of residential estates. It has observed smaller unit sizes in new private housing projects.

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New private home sales jump 42% in September

SINGAPORE: Sales of new private homes in Singapore rose about 42 per cent in September from a year earlier, as developers returned to the market with new launches following the previous month’s slump.

Data released by the Urban Redevelopment Authority (URA) on Monday (Oct 15) showed developers sold 932 units last month, compared with 657 units in the same month last year.

 

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Safe as houses? The property investment story so far

By Kalpana Rashiwala, via businesstimes.com.sg

It is in the collective consciousness of Singaporeans that owning property is a big part of being – and getting – rich. For many families in Singapore, investing in property has proven to be a good way to preserve, if not enhance, their wealth and to build up a retirement nest egg. Veteran property consultant Tan Tiong Cheng, president of Knight Frank Asia Pacific, recalls that in the early 1970s, one could buy a freehold terrace house in the Siglap area for about S$25,000 to S$30,000; today you’d pay S$2.7 million to S$3 million for one. Similarly, a semi-detached house in the vicinity would have cost in the ballpark of S$35,000 to S$40,000 back then; today’s prices are S$4 million to S$4.5 million. “So in both cases, prices today are about 100 times what they were nearly five decades ago,” he said.

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Outbound property investment: Singapore surpasses China in first half of 2018

Singapore — A report from CBRE Research said Singapore was the biggest Asian outbound property investor in the first half of the year. This comes as overall Asian outbound investment declined compared to the same period last year due to capital controls in China.

Source: channelnewsasia.com

 

 

HDB introduces town design guides aimed at fostering residents’ ‘sense of belonging’

SINGAPORE: The Housing and Development Board (HDB) on Tuesday (Sep 4) announced it will progressively roll out over the next five years 24 “design guides” for each of its towns, beginning with Woodlands in the north.

Each guide will be a unique, comprehensive document broken down into three different levels – town, neighbourhood and precinct. It will provide a common reference point for different agencies, town councils and design consultants as they implement both new developments as well as rejuvenation projects for the town throughout its life cycle, said HDB in a press release.

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Price of 50-year-old HDB flat can appreciate over the next 10 years: Khaw Boon Wan

SINGAPORE – Those who buy a 50-year-old Housing Board (HDB) flat today can expect prices to continue to appreciate over the next 10 years, Minister for Transport Khaw Boon Wan said at a dialogue with young people on Sunday (Sept 2).

Mr Khaw debunked claims that HDB flats are not assets just because the lease is for a limited 99-year period. He was speaking to more than 200 young people from Sembawang GRC on topics such as housing, healthcare and cost of living, which were raised at the National Day Rally speech last month.

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