Daily Archives: January 9, 2015 (29 Articles Found)

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$20 million budget to upgrade nine private estates

Nine private estates will be upgraded at $20 million under MND’s Estate Upgrading Programme (EUP). The selected estates are, Clover Estate, Lentor Estate, Thomson Faber Island Gardens, Toh Tuck Estate, Meng Suan/Springleaf Estates, Happy Gardens, Sea Breeze Garden,…

Is a test of Singapore’s property market nigh?

After a lot of angst over whether Singapore’s property market faces a crisis, the city-state’s efforts to rein in household debt and home prices appear set for their first test as local rates begin to rise. “Consumer demand…

Three Singapore banks wary of housing meltdown

The slow-down in Singapore’s property market has reduced high-end condominium prices and raised concerns that major local banks could be vulnerable to a surge in non-performing housing loans. Tightened credit criteria for foreign investors who are important players…

Paradise Group trial: Defence claims SP PowerGrid did not secure meter set-ups

Gas distributor SP PowerGrid, which manages high-, medium- and low-pressure gas pipes here, may not have properly secured its gas meter installations at 24 outlets under the Paradise restaurant group. As a result, unauthorised persons were able to…

School traffic congestion returns as term starts

As school resumes, so does the traffic congestion outside some of these schools, parents dropping off or picking up their children continue to pose a traffic nightmare to other road users. At Maris Stella High School, this means…

Analyst: Private home prices set to continue downward trend

Private home prices in Singapore are expected to ease for a few more quarters and according to a property analyst, that is because loan curbs including TDSR framework that was introduced in 2012 would continue to cool home…

Singapore’s Block 71 takes flight and lands in San Francisco

Singapore’s Blk 71 is well-known globally as an example of how the government can foster and bring together a startup ecosystem under one roof. Housing about 250 startups the new expansion will double its capacity to 500 companies,…

Six qualities that make women great property investors

I was looking through the member list of Property Club Singapore when I noticed that only one-fifth of the members are ladies. It shouldn’t be surprising, given that those who are interested in investment are mostly guys. You…

Shop space of Boon Lay Raja restaurant in Jurong East sold for $15 million

The shop space of the popular Boon Lay Raja restaurant in Jurong East has been sold for around $15 million. The restaurant’s boss, Mr Henry Tan Kweng Nam, said he was happy the buyers, the owners of listed…

NEA suspends restaurant at Marina Square after rat found in dish

NEA suspended a Chinese restaurant at Marina Square on Fri after photos of a dead rat in one of its dishes were put up online. The photos were posted on FB by Ms Caron Chan, who visited Hotpot…

Three-month Sibor continues to rally while SOR crashes

Local interest rates remain very volatile amid market uncertainties. The key three-month Singapore interbank offered rate (Sibor) continued its upward trajectory on Thurs, though the pace eased slightly, while the more volatile three-month swap offer rate (SOR) crashed…

Iconic dragon playground to remain

One of Singapore’s oldest playgrounds will not be demolished unlike the four HDB blocks surrounding it which will be torn down over the next few months. The playground at Lorong 6 Toa Payoh features a colourful structure in…

The dangers posed by a Sibor hike have been overblown

The recent spike in the Singapore interbank offered rate (Sibor) is not anything homeowners need to be alarmed about. At first glance, the jump in the three-month Sibor rate from about 0.45 per cent on Jan 2 to…

HDB market outlook 2015

In 2014, the government rolled out new supply of 22,455 BTO flats. Public housing had been a contentious issue during the 2011 GE as there was limited supply of new BTO flats, forcing many to turn to the…

K Line sells six shophouses on Peck Seah St for S$42.8 million to fund manager

A fund managed by Phoenix Property Investors has made its maiden acquisition in Singapore. The Pan-Asian private equity property fund manager is buying a row of six shophouses along Peck Seah St near Tanjong Pagar MRT Station for…

Three marine, coastal sites to be enhanced for recreation

Enhancements to draw more visitors to three marine and coastal sites each with its share of biodiversity offerings are being planned. In the coming years, Sisters’ Island Marine Park, which is home to rare species of seahorses, clams…

Property slowdown hits demand in construction sector

A deepening slowdown in Singapore’s housing market is having a domino effect on the city’s construction industry, with expected building demand this year expected to fall from a record last year, official estimates showed. Construction deals are expected…

4 charged for cheating Government agencies over cost of Hari Raya light-up

Four people were charged with cheating a ministry and three statutory boards by inflating the expenditure of the Hari Raya decorative lights on Thurs morning. Of the four, three were ex-members of Malay-Muslim community organisation Majlis Pusat, Gazaly…

Sales of strata-titled retail units hit by curbs

Sales of strata-titled retail units plunged last year as tough lending curbs took effect, a new report showed yesterday. Only 453 sales caveats were lodged in 2014, 61 per cent down from the 1,163 registered in 2013. Investor…

Paradise group accused of tampering with meters, using $640k of fuel

Popular restaurant group Paradise used over $640,000 worth of gas without paying a cent, a court heard in a trial that began yesterday. It did this by tampering with gas meters at many of its outlets here, alleged…

Non-mature estates see bigger fall in resale prices

Resale prices in non-mature HDB estates were hit harder in last year’s cooling market, falling more than twice as hard as those of flats in mature estates. Flat prices in non-mature estates such as Punggol and Sengkang fell…

No need to stay in a home for ‘local’ experience

The problems at City Square Residences seem to have escaped the attention of the Sharing Economy Association (Singapore), whose arguments for short-term rentals do not hold water (“Short-term rentals ‘a boon for tourism and home owners'”; Mon). Hotels…

Home-sharing a bane for residents

Proponents of home sharing and the “sharing economy” should come up with more convincing arguments to promote their cause (“Short-term rentals ‘a boon for tourism and home owners'”; Mon). Sharing a power drill or a car for a…

New reflective paint to be used on roads, replies LTA

We thank Mr Thomas Lee Chee Chee for his feedback (“Paint speed limits on roads”; Dec 30). Speed limit markings have been painted on some roads, such as Orchard Boulevard and Lornie Road, to remind motorists to observe…

FairPrice unable to get better location

We thank Ms Tan Say Yin for her comments (“Fifth-level supermart not ideal”; last Sat) and her support for NTUC FairPrice. At FairPrice, we constantly strive to provide customers with a pleasant and convenient shopping experience. Where possible,…

Standardise parking payment options

Many carparks here utilise automated card-based payments, but the use of different cards and systems has led to confusion. Nets’ CashCard is accepted at most carparks, but has no automatic top-up feature. Drivers must use a spare card…

Go for diversified developers over weak REITS this year, investors told

Investors should go for diversified developers instead of REITs in their endless quest for yield. According to UOB, S-REITs are transiting from being viewed as yield vehicles to growth vehicles, while developers are deep in value trading at…

Property price cuts to accelerate on back of UOB’s Sentosa lawsuit

In spite of several rounds of cooling measures, developers have managed to evade a meaningful correction in property prices by wooing buyers with incentives. But price cuts are expected to accelerate thanks UOB’s landmark lawsuit against Lippo Group,…

Buyers turning to strata offices amid the very tight supply situation

The investment strata office market activity for 2015 is expected to fall somewhere between 2013 and 2014 full-year figures. According to a report by Savills, owing to the lumpy nature of the offerings in the market, with some…

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