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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More appeals made for waiver of HDB’s ethnic integration policy

Singapore — Home owners made a total of about 1,600 appeals between 2015 to 2017 to waive the ethnic integration policy, said National Development Minister Lawrence Wong in Parliament on Tuesday (Oct 2).

Mr Wong was responding to a question from Workers’ Party chief Pritam Singh, who asked if there were statistics on how much feedback the Housing and Development Board (HDB) has received from minority races on the inability to sell their flats because of the policy.

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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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