Development charge: Rates tweaked slightly in dull market
Bigger cuts in store if stronger evidence of falling property values emerges Despite weaker property sentiment, the government has opted to leave development charge (DC) rates largely unchanged, except for an average 6.3 per cent cut for non-landed residential use. There may not be sufficient evidence of declines in property values yet, market watchers said, … Read more
Shunfu Ville gets HDB approval to go private
SHUNFU Ville, an HUDC estate in Marymount Road, has been privatised. The Housing Board (HDB) approved the required mandate for the estate to go private more than a week ago. Out of 18 HUDC estates in Singapore, Shunfu Ville is the 13th to go private. In April, my paper reported that a mass-signing exercise by … Read more
MediaCorp’s mocca.com partners property giant to give customers better experience
Singapore real estate agency, HSR, has partnered mocca – MediaCorp’s Online Communities and Classified Advertising – to reach a wider audience. The collaboration is the first of its kind between a real estate giant and an online classifieds portal. With the combined strengths of HSR and mocca, house hunting has become easier. You can now … Read more
Dip in property development fees
Lower charges for non- landed private homes – first time in 5 years – reflect fall in land values ANOTHER sign that the values of land and private homes are sliding arrived yesterday in the form of the new property development charges. These charges, which reflect changes in land and property values over the last … Read more
A squeeze, but it’s still home to family
FOR two weeks in April, the Shankars and their newborn daughter stayed at a temporary shelter for displaced families. Home was a three-room HDB flat in Marsiling, which they shared with two other families. Mr Shankar Ramu, 26, recalls: ‘We took one room. One family was in the other room, and the other family was … Read more
HDB subsidised rental flats: A deeper, longer-term problem?
The demand for subsidised rental flats has risen, a phenomenon highlighted by Prime Minister Lee Hsien Loong in his recent National Day Rally address. Is the surge temporary or here to stay, and can supply keep up with demand? Insight examines the issue. MR SHANKAR Ramu and his wife, both in their mid-20s, have been … Read more
Music and F&B close to home?
COMING near you in the neighbourhood: hot food, cold beer and live entertainment. At least, that is the plan if a bid by the authorities to help businesses create more vibrant residential areas around the island passes muster in a public consultation. Businesses in the food and beverage industry now climb a mountain of red … Read more
URA in eatery, nightspot review
THE Urban Redevelopment Authority (URA) is reviewing the activities allowable in restaurants, food shops and pubs located in private shophouses. One of the considerations is to allow more flexibility in providing live entertainment on the premises of restaurants and pubs. Currently, live music and performances are not allowed in restaurants at private shophouses near residential … Read more
CapitaLand divests stake in KL tower
CAPITALAND is divesting its 30 per cent stake in a company that owns Menara Citibank, a 50-storey office tower in Kuala Lumpur’s Jalan Ampang, for RM176 million (S$75.5 million). Upon completing the divestment, the Singapore-based property giant will recognise a gain of about S$22.1 million. The company being divested is Inverfin Sdn Bhd, whose principal … Read more
Lian Beng files $9.4m suit against ex-partner Manhattan
CONTRACTOR Lian Beng Group has sued its former partner Manhattan Resources for alleged breach of a deal to buy the former’s half stake in a joint venture. Lian Beng said in a statement yesterday that it has filed a claim with the High Court against Manhattan for allegedly defaulting on a sales and purchase agreement … Read more
