Daily Archives: July 5, 2021 (33 Articles Found)

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Are integrated condos really worth their price premium?

Singaporean home-seekers crave convenience, so integrated condo developments are like a dream come true for many. These are 99-year leasehold condos are built atop key amenities such as a full-sized shopping mall with direct MRT and bus interchange…

10 types of property cooling measures that Singapore government may introduce (based on past track record)

1) ABSD – A property cooling measure introduced in 2011, it was last raised in 2018 to further dampen the demand from property investors; 2) SSD – It was last adjusted in 2017 to reduce the holding period…

Singapore’s May retail sales grow 80% y-o-y but decline m-o-m due to tightened Covid-19 measures

Singapore’s total retail sales value increased 79.7% y-o-y to $3.3 billion in May according to data from SingStat reported on July 5, beating consensus forecasts of 63.6% according to Bloomberg. The jump follows the 54% y-o-y increase recorded…

Lian Beng offer unconditional, spotlight on discount to book

On July 5, UOB, on behalf of the major shareholders of Lian Beng Group, announced the 50 cents per share offer had gone unconditional – that is the founding Ong family and friendly parties hold more than 50%.…

CBD Grade-A office vacancy rate at 4.6% in 2Q2021, highest since 1Q2018: C&W

The CBD Grade-A office vacancy rates increased to 4.6% in 2Q2021, from 4.2% in the previous quarter, according to an office market report by C&W. It is the highest vacancy rate for this office segment since 1Q2018, when…

Four Good Class Bungalows sold for $36 mil each in 48 hrs

Four Good Class Bungalows (GCB) changed hands for $36 million over two days from June 24 to 25. Property agents that EdgeProp spoke to reckon it is just a coincidence. The owners are as varied as the GCBs…

Serviced apartment development Metropolitan YMCA Residences selling for $57 mil

Metropolitan YMCA ResidThe serviced apartment development at 58 Stevens Road, known as Metropolitan YMCA Residences, is on the market for $57 million. JLL said the property would be on a fresh leasehold tenure of 103 years. The serviced…

Pulau Ubin springs new hope for once-extinct species

Birdwatchers are all aflutter about the recent sighting of a bird that was once extinct in Singapore, with many enthusiasts flocking to the offshore isle of Pulau Ubin for a glimpse of the green broadbill. The bird, so…

Singapore Prisons: 75-years of peacetime rehabilitation and wartime horrors

The 75-year history of the Singapore Prison Service (SPS) is more of a saga than a mere logbook of jails, jailbirds and jail craft, given its record of pre-1946 wartime horrors and the peacetime punishment and rehabilitation that…

Singapore F&B firm Slake’s early move into online orders pays off amid Covid-19 pandemic

F&B company Slake was struggling to attract diners when it started out about seven years ago in a quiet neighbourhood in Siglap. In 2017, it tapped a government grant to sign up for services by F&B payment and…

Nearly 1 in 3 HDB blocks hit ethnic quota limits, shows relevance of EIP today: Desmond Lee

Nearly one in three HDB blocks and 14 per cent of neighbourhoods today have reached ethnic quota limits, underscoring the importance of having the EIP in place to ensure social mixing, said MND Minister Desmond Lee. The maxing…

Successful ethnic quota appeals for HDB flats up to 21% last year from 14% in 2018

About 21 per cent of households successfully appealed for a waiver of the EIP on their HDB flats last year, up from 14 per cent in 2018. Last year, the HDB received 500 such appeals, with more appeals…

S’pore more likely to achieve racial integration with EIP, says Teo Chee Hean

While PAP and WP both want a racially integrated Singapore, the country is more likely to achieve this with the Government’s housing policies, said Senior Minister Teo Chee Hean on Mon. Joining the debate on HDB’s EIP, Mr…

Use of Changi Airport Terminal 4 to process travellers from ‘very high-risk’ COVID-19 regions being studied

Authorities are considering using Changi Airport T4 to process passengers from regions with a “very high risk” of COVID-19, said Minister for Transport S Iswaran on Tues. Speaking in Parliament, Mr Iswaran noted these passengers are currently being…

Reopening borders vital to recovery, but COVID-19 vaccinations must first be sped up: Lawrence Wong

Reopening Singapore’s borders is vital to the country’s economic recovery, but doing so prematurely could result in another wave of COVID-19 infections, said Finance Minister Lawrence Wong in Parliament on Mon. The priority, therefore, is to speed up…

Food deliveryman jailed for riding e-scooter at high speed into woman on footpath, causing fractures

A Grab delivery rider was jailed seven weeks and fined S$500 on Mon after he rode his escooter along a path in Sengkang last year and collided with a woman, injuring her. The victim, who is a hairstylist,…

6 new locally transmitted COVID-19 infections in Singapore; 1 cluster identified

Singapore reported six new locally transmitted COVID-19 infections as of noon on Mon, including two unlinked cases. The four infections linked to previous cases had already been placed in quarantine, said MOH. Two are linked to CGH cluster,…

Pritam Singh, ministers spar over whether ethnic integration policy for public housing should be abolished

Leader of the Opposition Pritam Singh on Mon crossed swords with several Cabinet ministers after he questioned the relevance of the EIP for public housing and pointed out its negative impact on homeowners from minority communities. This was…

Police to be allowed to forcibly enter premises without warrant during emergencies under proposed Bill amendments

Police officers may soon be empowered to forcibly enter premises during emergencies to protect persons from injury or death under amendments to the Police Force Act tabled on Mon. This power is currently reserved for rescue personnel such…

Singapore to reclaim land around Pedra Branca to build facilities to improve maritime safety and security

Singapore will start reclaiming land around Pedra Branca by the end of this year, as part of planned development work that was postponed because of an earlier legal tussle with Malaysia over the island’s sovereignty. The work will…

NEA expanding Project Wolbachia to reduce Aedes mosquito population after study sites see 88% drop in dengue cases

After succeeding in suppressing the Aedes aegypti mosquito population by up to 98 per cent in some neighbourhoods, NEA is set to expand its Project Wolbachia programme to another residential estate and selected construction sites in Singapore. On…

SG multiple-user factory space median rent stays at $1.73 for Q2

This chart from Knight Frank shows that the Singapore-wide median rent of multiple-user factory space went unchanged in the second quarter of 2021, hitting $1.73 psf pm just like in the preceding quarter. However, the monthly data revealed…

Extra Covid-19 support to cost S$1.2b, financed partly by reallocation under SINGA

Additional Covid-19 support measures during Singapore’s Heightened Alert period are expected to cost S$1.2 billion. This will be financed by a reallocation of monies previously budgeted for, Finance Minister Lawrence Wong said in Parliament on Mon as he…

Mid-Cap S-Reits continue to lead sector in H1 2021

The first half of 2021 saw vaccination progress provide some support for the global economy, amid continued Covid-19 infections. Within S-Reits, the 40 actively traded S-Reits & property trusts listed in Singapore generated total returns of 8.9 per…

E-signatures on the rise, but wills and mortgages still call for pen on paper

More financial documents can now be signed remotely in Singapore, with social-distancing restrictions brought on by Covid-19 also spurring the adoption of electronic signatures here. But wet-ink signatures aren’t going away just yet, with some legal restrictions still…

Two men charged with exposing others to COVID-19 infection risk by going to Jem, Giant while on medical leave

Two men were charged in separate cases on Mon with exposing others to the risk of COVID-19 infection while they were on medical leave. Zac Leow Zhi Xiang, 34, was given one count of exposing others to the…

4 men under investigation for abusive behaviour towards enforcement officers, flouting COVID-19 rules

Four people are under investigation in separate incidents for alleged abusive behaviour towards enforcement officers and safe distancing ambassadors (SDA), as well as non-compliance with COVID-19 safety measures, SPF said on Mon. In an incident on May 31,…

NTU says it is ‘still working’ to resolve hall allocation issue, cannot have a place for every applicant

NTU said on Mon it was “still working” to resolve its hall allocation issue “in the best possible way”, but that it cannot offer on-campus housing to every applicant. Laying out the issues faced by NTU, deputy president…

‘Fair wear and tear’ disputes over rental property: What can tenants and landlords do?

After seven years in Singapore, Ms Ngo was excited to take on new opportunities in Canada, along with her husband and baby. But issues with their landlord arose when they ended their two-year lease for a rental flat…

Tanjong Penjuru warehouse put up for sale

A single-storey warehouse with a two-storey annex office at 2 Penjuru Lane has been put up for sale via EOI, revealed Colliers Intl. With a GFA of around 55,000 sqft, the property occupies an 86,143.5 sqft site and…

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