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Posted by on in New Launches

Luxury home sales continued to stumble in the third quarter this year with 112 luxury apartments sold, down from 162 units during the same period a year ago and 188 units in Q3 2013, reported The Straits Times citing analysis from DTZ Research.

Luxury apartments are defined as units with a floor area of at least 2,000 sq ft and located in Districts 9 to 11.

The consultancy stated that high-end apartments also accounted for a smaller proportion of total secondary non-landed sales.

In Q3 2015, luxury apartments accounted for 10 percent (73 units) of secondary non-landed sales, down from the previous quarter’s 12 percent (147 units) and 12 percent (97 units) in Q3 last year.

“Sales for the segment are slower primarily because of the Additional Buyer’s Stamp Duty (ABSD), as the amount is higher given the quantum,” said DTZ regional research head Dr Lee Nai Jia.

“Another reason is the price gap between sellers and buyers. Sellers (of luxury homes) have better holding power compared with those of mass-market condominiums. At the same time, buyers have been looking for steep discounts.”

Nonetheless, DTZ noted that sales of landed homes in Districts 9 to 11 are holding up, with 30 homes worth a total of $266.3 million sold during the quarter to date. This is comparable to the 32 homes worth $274.9 million sold during the same period last year and 23 homes worth $244 million finding buyers in 2013.

Top-selling projects in the primary market this year include Leedon Residence, d’Leedon and Palms @ Sixth Avenue.

In the secondary sales market, the most popular developments include Goodwood Residence, St Regis Residences and Urban Resort Condominium.

Dr Lee added that while the number of foreign purchases of high-end apartments have generally declined, purchases by Malaysian and Indian buyers are the most resilient.

Acquisitions by Chinese buyers dropped 37 percent from two years ago to 34 units in Q2, while those by Malaysians dipped by 18 percent to 32 units.


credits: propertyguru


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Posted by on in New Launches

Singapore-listed civil engineering firm Huationg Global has secured new contracts amounting to about $81.3 million.

These include site clearance and earthworks for land preparation at Changi Airport Terminal 5, external works for proposed development of an integrated regional hospital in Sengkang, earthworks for proposed dry docks, and earthworks for advanced piling, soil improvement and pile extraction works at Depot.

The projects are expected to be completed by the group over the next three years and are not likely to have any material impact on its financial performance this year.

Commenting, Patrick Ng, chief executive office of Huationg said: “We have been building up our order book strongly since the beginning of 2015, where we clinched public sector projects totaling $28.5 million in Q1 2015 and $19.5 million in Q2 2015 respectively. Our latest achievements in the challenging business climate are clear validation to our well-adopted strategy to focus on public infrastructure projects.”

Over the last 30 years, Huationg has been involved in numerous large infrastructural construction works including certain MRT stations on the Downtown and Circle lines, as well as the Kallang-Paya Lebar Expressway and Marina Coastal Expressway.

Looking ahead, the group plans to actively tender for other public sector projects.

credits: propertyguru

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Posted by on in New Launches

The unveiling of Singapore’s new cabinet at a press conference on Monday, 28 September, saw existing National Development Minister Khaw Boon Wan replace Lui Tuck Yew as the new Transport Minister.

Mr Lui announced his retirement from politics just before this month’s general election.

Mr Khaw will relinquish his position at the Ministry of National Development to 42-year-old Lawrence Wong (pictured) who will have big shoes to fill. Mr Wong is currently Minister at the Ministry of Culture, Community and Youth and Second Minister, Ministry of Communications and Information.

Mr Khaw is credited for helping to implement policies to cool down Singapore’s once red hot property market since taking up the post of MND Minister in 2011.

For resale HDB flats, these include cutting the loan tenure and mortgage servicing limits, allowing singles to buy 2-room Build-To-Order (BTO) flats in non-mature estates, and instituting a three-year wait for new PRs before they can purchase resale flats.

At the same time, the government ramped up the supply of new flats between 2011 to 2014 to 26,000 units on average per year to relieve pressure in the resale market. Less focus on Cash-Over-Valuations (COVs) in the HDB resale price negotiation process also means COVs have fallen significantly.

Meanwhile, private home prices have been falling for almost two years due to a slew of cooling measures implemented since 2011, such as the additional buyer’s stamp duty (ABSD) and loan-to-value limits. In the second quarter of 2015, prices of private units dipped 0.9 percent from the previous three-month period.

Here’s the complete list of Cabinet appointments which take effect from 1 October:

Mr Lee Hsien Loong – Prime Minister
Mr Teo Chee Hean – Deputy Prime Minister and Coordinating Minister for National Security
Mr Tharman Shanmugaratnam – Deputy Prime Minister and Coordinating Minister for Economic and Social Policies
Mr Chan Chun Sing – Minister, PMO
Mr Heng Chee How, Mrs Josephine Teo – Senior Minister of State
Mr Sam Tan – Minister of State

Dr Ng Eng Hen – Minister
Dr Maliki Osman, Mr Ong Ye Kung – Senior Minister of State

Dr Vivian Balakrishnan – Minister
Mrs Josephine Teo, Dr Maliki Osman – Senior Minister of State

Mr K Shanmugam – Minister
Mr Desmond Lee – Senior Minister of State
Mr Amrin Amin – Parliamentary Secretary

Mr Lim Hng Kiang – Minister (Trade)
Mr S Iswaran – Minister (Industry)
Dr Koh Poh Koon – Minister of State from Jan 1, 2016
Ms Low Yen Ling – Parliamentary Secretary

Mr Heng Swee Keat – Minister
Ms Indranee Rajah, Ms Sim Ann – Senior Minister of State

Mr Lim Swee Say – Minister
Mr Teo Ser Luck, Mr Sam Tan – Minister of State

Mr Khaw Boon Wan – Minister
Mrs Josephine Teo, Mr Ng Chee Meng – Senior Minister of State

Mr Lawrence Wong – Minister
Mr Desmond Lee – Senior Minister of State
Dr Koh Poh Koon – Minister of State from Jan 1, 2016

Dr Yaacob Ibrahim – Minister
Mr Chee Hong Tat – Minister of State
Dr Janil Puthucheary – Minister of State from Jan 1, 2016

Mr Masagos Zulkifli – Minister
Dr Amy Khor – Senior Minister of State

Mr K Shanmugam – Minister
Ms Indranee Rajah – Senior Minister of State

Mr Gan Kim Yong – Minister
Dr Amy Khor – Senior Minister of State
Dr Lam Pin Min, Mr Chee Hong Tat – Minister of State

Mr Ng Chee Meng – Acting Minister (Schools)
Mr Ong Ye Kung – Acting Minister (Higher Education and Skills)
Dr Janil Puthucheary – Minister of State from Jan 1, 2016
Assoc Prof Muhammad Faishal Ibrahim, Ms Low Yen Ling – Parliamentary Secretary

Mr Tan Chuan-Jin – Minister
Assoc Prof Muhammad Faishal Ibrahim – Parliamentary Secretary

Ms Grace Fu – Minister
Ms Sim Ann – Senior Minister of State
Mr Baey Yam Keng – Parliamentary Secretary


credits: propertyguru


Tagged in: Q2 2014
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Posted by on in New Launches

Prices of completed non-landed private homes in Singapore fell 0.6 percent in August 2015 after dropping 0.2 percent in the previous month, revealed flash estimates of the NUS Singapore Residential Price Index (SRPI).

Excluding small units, apartment prices in the central region fell 0.7 percent last month compared to the 0.3 percent rise in July.

In the non-central region, prices dipped 0.5 percent, lower than the previous 0.7 percent drop.

For small units measuring 506 square feet or below, prices remained unchanged after rising 0.5 percent previously.

The NUS price index for the central region tracks properties located in districts 1 to 4 and 9 to 11. Properties outside these districts fall under the non-central region.

credits: property guru

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Posted by on in New Launches

Signature at Yishun, the first executive condominium (EC) launched after the government raised the qualifying income ceiling to $14,000 from $12,000, sold about 20 percent of its units after opening for bookings last Saturday, reportedChannel NewsAsia.

“There are buyers whose income is more than $12,000. The percentage I would estimate is 20 percent of our total sales,” said Patrick Lam, CEO of JBE Holdings.

“This year is Singapore’s SG50 celebrations. We wish to assist buyers to achieve their dream home at affordable prices.”

Located at Yishun Street 51, the 525-unit project received 507 e-applications.

Majority of the units sold were three- and four-bedroom units, said the developer, adding that two-bedders were also available.

Prices at the project are around $750 psf, lower than average prices at other ECs which are about $800 psf.

Although the developer described the response as encouraging, one analyst believes that an application rate of under one buyer per unit is a clear indication of a weak market, given the price as well as the fact that the income ceiling has increased by around 16 percent.

“Perhaps the market is weak partly due to the global environment and stock market, the currency situation not being very favourable. But some of the buyers may also be concerned about interest rates that are continuing to rise as well as their employment security.

“Furthermore, in the next few months we can expect a few more EC launches, plus the existing launched but unsold stock of about 4,000 over units. I think that will allow buyers to go around Singapore to look for whatever is the most suitable,” said Century 21 CEO Ku Swee Yong.

Meanwhile, The Criterion, another EC project in Yishun, opened for online applications last Thursday, 24 September.

credits: propertyguru

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Posted by on in New Launches

While foreign investment in Thailand’s property market declined due to the Bangkok bomb blast in August, CBRE Thailand revealed that analysts and developers believe the sector is resilient, while the long-term outlook in the country is positive.

“The tragic blast at the Erawan (Shrine) has hurt the overall market sentiment a bit. We were quite worried in the week afterwards,” said James Pitchon, executive director of CBRE Thailand. “But the overall state of the economy is a far more important issue driving the performance of the property market rather than a single tragic event.”

Koh Keng-shing, chief executive of Landscope Christie’s International Real Estate, said Thailand-based Ananda pushed back its marketing campaign in Hong Kong to late September. But none of his clients with intentions of purchasing properties in Thailand had backed out of deals in late August because of the bombing.

Pitchon added the Thai real estate market is more domestically driven as opposed to being exposed to foreign capital. The country’s luxury property sector, where prices are usually over USD300,000, are where the bulk of international purchases take place. CBRE stated that 20 percent of buyers purchasing a high-end condo in central Bangkok are foreign, with buyers from Hong Kong and Singapore leading the way.

Meanwhile, hotel and resort related developments may suffer in the aftermath of the bombing as tourist arrivals to Thailand fall. Resort locations away from Bangkok have been insulated from problems in the capital. These types of properties have been popular with foreigners in the past, but since the 2009 global financial crisis, demand for them has been somewhat slower, noted analysts.

“The market is very resilient. It dips down for a quarter or six months, and it comes back up,” said Jonathan Umali, director of asset management at Arch Capital. Umali is planning a Hong Kong launch for the first phase of the company’s mixed-use luxury development MontAzure in Kamala, Phuket before the end of 2015. The development includes 13 hillside villas and 75 beachfront condos that cost between HKD1.7 million and HKD19.9 million.


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Posted by on in New Launches

Apart from price, location and flat type, what are some other factors first-time BTO buyers need to consider before applying? We let you in on three important tips.

1) Know your timeline. After your e-application for a flat in your neighbourhood of choice, you will likely have to wait about one month before the HDB issues you a ballot number (also called a queue number).

Two weeks after that, you have to decide on which unit you want, and pay the option fee; you should also apply for your loan soon after.

In four months, the HDB will contact you to sign the agreement for lease, whereupon you must fork out the down payment for your flat. If you selected a completed unit, you can collect your keys immediately. If not, you will have to wait till it is completed before collecting your keys.

2) Get the best queue number possible. This doesn’t depend purely on luck, though it does play a part. You can participate in as many BTO exercises as you want, but remember that if you reject an invitation to select a flat, you will automatically be placed at the back of the queue.

In order to avoid this, participate selectively. Also, applying for a unit in a severely oversubscribed neighbourhood drastically reduces your chances of getting a good queue number, and your options may be reduced to units that are far from ideal. So weigh all the pros and cons very carefully before even applying for your flat.

3) Determine your level of patience. While there is a considerable period between application and key collection, it pays to wait for the right BTO launch.

If you plan to live in more popular neighbourhoods, such as Tampines or Clementi, it is wise to wait for new flats to be released, instead of applying where many already have.

However, if you do not wish to wait out the typical two- to three-year BTO construction period, the Sale of Balance Flats (SBF) exercise is a viable option. The frequency of the SBF varies, but the upside is that you can move in as soon as six months after applying.

credits: propertyguru

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Posted by on in New Launches

A freehold good class bungalow (GCB) site at 53 Windsor Park Road (pictured) has been put up for sale by public tender, according to marketing agent Colliers International. Located off Upper Thomson Road on a high terrain, the 21,091 sq ft site currently houses a part-single-part-two-storey bungalow built in the 1950s. The property is zoned within the “Windsor Park Good Class Bungalow Area” under the 2014 Master Plan. The indicative price is $27 million, which translates to $1,280 psf on the land, the consultancy said. Stella Hoh, Executive Director of Investment Services at Colliers, said the successful buyer could redevelop the site into a new house. “With only 34 GCB plots in the area, there are rarely any plots being offered for sale in the past few years. The last two recorded transactions in the vicinity were a 22,481 sq ft site that was sold for $25.3 million in January 2013 and another 19,280 sq ft property that was sold for $27 million in December 2012. “According to caveats lodged, there were 25 GCB transactions worth a total of $543 million in 2014. For 2015 to date, there are already 20 GCBs transacted at a total value of $485 million and the figures are expected to grow – given that this upper-tier of the landed residential property market has recently witnessed increased activities, on the back of more realistic asking prices from sellers,” said Hoh. Situated within an established residential enclave comprising landed housing and low-rise condominiums, the subject property is close to Thomson Plaza, Sin Ming Plaza and the shophouses along Upper Thomson Road. The upcoming Upper Thomson and Bright Hill MRT stations are also within the vicinity. The tender exercise will close on 21 October 2015.

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Posted by on in New Launches

Singapore’s residential property market continues to lose steam, with house prices falling 3.38 percent during the year to Q2 2015, revealed a global house price survey by Global Property Guide.

The report stated that this is the seventh consecutive quarter of house price falls in the city-state. On a quarterly basis, prices fell 0.69 percent in Q2.

Meanwhile, demand and supply continues to drop. The number of private units sold fell 24 percent to 1,999 units in the second quarter from a year ago, according to data from the Urban Redevelopment Authority (URA).

The number of uncompleted private homes launched also declined by about 26.2 percent to 2,099 units over the same period.

Looking ahead, the continual slowdown in Singapore’s economy, impending interest rate hikes and macroeconomic uncertainties are expected to put downward pressure on prices.

Singapore’s economy is expected to grow between 2.0 and 2.5 percent this year, after growth of 2.9 percent in 2014, 3.9 percent in 2013, 2.5 percent in 2012, and 6.0 percent in 2011, added the report, citing figures from the Ministry of Trade and Industry.

credits: propertyguru

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Posted by on in New Launches

A 5-room HDB resale flat in Toa Payoh recently changed hands for $955,000 – a figure that is comparable to the high resale flat prices at The Pinnacle@Duxton, reported My Paper.

The sale also stood out as it happened near the Ghost Month, which is usually a quiet period for the property market.

Measuring 124 sqm, the 14-year-old flat is located at Block 154 in Toa Payoh Lorong 2, between the 22nd and 24th storeys, showed HDB data.

In July 2007, a 5-room resale flat on the 28th storey of the same block was sold for $650,000, a new record for resale flat prices within the area at that time.

Eugene Lim, Key Executive Officer at ERA Realty, said the unit enjoys an excellent location.

Situated just across the road from Toa Payoh Town Centre, the flat is near the Toa Payoh MRT station, with an underpass directly linking to it, he said.

Since it is on a high floor, the unit is not blocked by any surrounding flats, offering unobstructed views, noted Lim.

“If the owner is facing the right direction, he can even see the MacRitchie Reservoir,” he added.

However, he believes the deal is unlikely to become a trend as it is more of an exception than the norm.

Credits: propertyguru 

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Posted by on in New Launches

Although a lot have been done in the housing front, it remains a “work-in-progress” given the changing demographics, stated National Development Minister Khaw Boon Wan at a People’s Action Party (PAP) rally for Sembawang Group Representation Constitution (GRC). Mr Khaw, who serves as the PAP anchor minister for Sembawang GRC, outlined several improvements and measures on housing in order to illustrate how the Singaporeans and the government can tackle challenges together including “what more can be built together”, reported Today Online. He cited the doubling of the Special CPF Housing Grant, the Fresh Start Housing Scheme, the construction of 100,000 new flats, the measures to build more rental flats and the new Proximity Housing Grant as examples of what his ministry achieved over the last four years. Mr Khaw noted that the 100,000 new flats cleared the newlyweds’ waiting queue for new flats while the waiting time for rental flats has been reduced to four to five months. Meanwhile, the Fresh Start Housing Scheme will provide families with young kids, who are living in HDB rental units, a second chance to own a two-room flat, although they have acquired and sold a subsidised HDB unit before. “We will implement it as soon as we can. Because we do not want to leave anyone behind. This is our commitment,” he said. “It is a continuation of a commitment that dates back 50 years. We have always wanted every Singapore family to have the peace of mind, to pursue their dreams in a stable home which they own. This way we can better ensure that your children can enjoy and benefit from the same Singapore that you have.” Notably, the measures to cool the housing market saw the market moderate very nicely, even though some developers were unhappy about it, with some property agents finding their income and business affected. “Unfortunately, we cannot have home prices both high for the sellers and low for the buyers,” said Mr Khaw. Nonetheless, he believes that most Singaporeans support the cooling measures and prefer the present situation to four years ago. “Singapore is already a nation of homeowners. Nowhere else in the world can you find this. But still, public housing is always a work-in-progress as we need to… respond to changing demography and changing aspirations,” he said. “We have done a lot for housing, but we still have things to do.”


credits: property guru

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Posted by on in New Launches

Singapore will be negatively affected by the depreciation of the Malaysian ringgit and the country’s struggling economy due to close economic links between both countries, said Foreign Affairs Minister K Shanmugam yesterday, reported Channel NewsAsia.

“We are the biggest investor in Iskandar Malaysia, so any trouble there is serious issue for us,” he said during a forum organised by the Singapore Press Club called ‘Small state diplomacy: Challenges and opportunity for Singapore’.

This means Malaysia’s currency and economic problems won’t leave Singaporeans unscathed, especially those who purchased property in Johor.

On a positive note, Singaporeans planning to go shopping across the Causeway will have greater spending power given the current favourable exchange rate of one Singapore dollar per 3.01 ringgit.

credits: property guru

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Residents of Sengkang and Punggol will soon get 1,000 child care places within their estates by the middle of 2016, reported Channel NewsAsia.

The Early Childhood Development Agency (ECDA) said there will be two centres each accommodating 500 students, with the one in Sengkang run by NTUC First Campus’ My First Skool, while the Punggol centre will be run by E-bridge Pre-school.

Both centres will open for registration in January next year through ECDA’s online registration management system.

The Sengkang centre will offer an Early Intervention Programme for Infants and Children, serving up to 300 special needs kids. ECDA noted that this is the first time such a place would be located next to a child care centre.

“Co-locating it together with this is an important development. It allows the students to interact. Today, you will find that there are many of these places that allow students to interact with each other, to learn more about each other and I think it is a good opportunity to infuse values at a very early stage,” said Social and Family Development Minister Tan Chuan-Jin at its ground-breaking ceremony.

Meanwhile, another three large child care centres – each with a capacity of 300 places – will be built in Yishun, Woodlands and Jurong West by end-2016. Operators for these centres will be revealed at a later date.

Announced earlier this year, the construction of larger child care centres is part of the government’s efforts to meet the increasing demand for affordable child care in young estates.

“We understand the needs of parents with young children in these estates. We are working hard with local grassroots advisers and other government agencies to meet these needs. The two upcoming large child care centres in Sengkang and Punggol are the result of these partnerships,” noted Mr Tan.

credits: property guru

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Posted by on in New Launches

Demand for private rental units has increased of late, but so has supply. Here’s how to spruce up your condo and set it apart from the competition.

1. Before you can rent out your condo, consider all the pros, cons and legal implications of being a landlord. What are the rules and regulations regarding renting out your condo? Do you need permission from condo management? It is advisable to engage a property agent to help you perform background checks on potential tenants, as well as to draw up legally binding tenancy agreements. Once you have spoken to your agent and assessed all the factors involved, you can proceed with the rest of the rental process.

2. Prior to your tenant’s arrival, inspect your entire home thoroughly to see if there are any defects. If there are, be sure to repair them as soon as possible. Problems such as leaky faucets or pipes, cracked tiles, faulty plumbing, exposed electrical wiring, burnt-out lights and so on should be fixed in advance, so your tenant feels confident and at ease upon moving in.

3. Apart from ensuring everything in your home is in working order, remember that safety is also of utmost importance. This is especially so for the room in which your tenant will be sleeping, so do see to it that features like smoke detectors and electrical wiring are working as they should be, and that no part of your house poses any safety hazard. Installing fire extinguishers in your home is a good idea, as is making sure all your kitchen appliances are in good condition.

4. It has been said that cleanliness is next to godliness, and rarely is this truer than when opening your home to someone. It is important to make your tenant as comfortable as possible, and keeping your home clean is quite possibly the best way to do so. A dirty house is an instant turn-off, so be sure to keep floors and carpets free from dust and dirt, and repaint your walls if you must. Appliances and fixtures should remain grime-free; disinfectant wipes and sprays, as well as home fragrances, work well to keep dirt and odours at bay.

credits: propertyguru

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Posted by on in New Launches

Like money, we will never complain that there’s too much (room) space at home, and these local homes that have found ways to make rooms look bigger at pocket-friendly prices.

Space is a form of luxury on our densely-populated sunny island. With shrinking square feet in new homes, we take a look at how these HDBs and condominiums effectively incorporate design, colours and nature to make a small space seemingly larger at pocket-friendly prices.

1. Natural Light

Let natural light seep in to create depth. Take a step further and replace the curtains with blinds or shades if you need privacy.

If your house isn’t blessed with a good layout in capturing solar energy, opt for glass partition to allow light to permeate and light up the darker corners of the room.

1 V1

2. Mirrors

A common method is to make use of mirrors and other reflective surfaces to create the illusion of a bigger space.

Opt for large full-length mirrors or position smaller mirrors opposite windows or in front of a light source to amplify the lighting.


3. Trade overhead lights for smaller lamps

Top-down lighting can be harsh and draws attention to one space. Instead, set up smaller lamps at different corners of the house to spread light around the area and draw the eye around the room. Then select warm lightings to add on to the cosy factor.


4. Show some legs

…for your furniture that is. As boundaries between rooms blur, reduce the chunk by choosing less bulky furniture with their sleek legs and contoured body.


5. Get rid of clutter

Clutter is the nemesis of space. Minimise the sight of clutter with multi-purpose furniture or hidden storage display; or try disposing off your unused items for a cheaper alternative.


6. Light-coloured walls and floorings

A no-brainer; light-coloured floorings and walls are common ways to make the room feel airy as opposed to dark colours. If pristine white isn’t your preferred choice of palette, add a dash of colours in your furniture or try pale-coloured wallpapers or tiles.



credits: propertyguru

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Posted by on in New Launches
Total bank-lending in the city-state rose month-on-month in July 2015 on the back of stronger demand for housing loans and from the general commerce sector, revealed data from the central bank on Monday.Loans and advances by domestic banks amounted to $610.4 billion last month, up 0.6 percent from $606.8 billion in June. According to the Monetary Authority of Singapore (MAS), the rate of monthly growth in July was lower than the 1.6 percent increase in June, which was boosted by construction loans.Meanwhile, bank lending in July grew 2.2 percent from $597.4 billion in the same period last year.Housing and bridging loans rose from $180.3 billion in June to $181.6 billion last month. These loans grew by about 5.2 percent from $172.6 billion last year.

credits: propertyguru
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Posted by on in New Launches

Some property agencies marketing overseas real estate to Singaporeans have begun revising their ads to comply with recent changes to Singapore’s Code of Advertising Practice, reported Channel NewsAsia.

“We are now having to, for example, justify why the returns on investment is 5.5 percent,” said Century 21’s Chief Executive Officer Ku Swee Yong.

Although the new rules can help guide the industry, there are still some constraints for advertisers marketing foreign properties. For instance, it’s hard to show the investors’ net return as the income tax varies per individual.

“In that case, we take away the statement of return on investment (ROI). But then that makes the advertisement less attractive than it would be,” Ku shared.

“So perhaps companies with larger advertising budgets might take up more space in order to attach fine prints to justify the ROI, or perhaps companies might in fact downsize their budget on mainstream media and do more email blast or brochure handouts and direct mailers.”

Amendments to the rules, undertaken by the Advertising Standards Authority of Singapore (ASAS), aims to tackle speculative, misleading and unproven claims in ads. They came into effect on 12 August, but advertisers and media firms were given a three-month grace period to abide with the changes.

According to CASE Executive Director Seah Seng Choon, companies that flout the rules “run the risk of advertising space and time being withheld by media owners. They may even risk the withholding of trading privileges by advertisers”. In serious cases, the reputation of the company involved may also be affected.

CASE will also take action if they contravene the Consumer Protection Fair Trading Act.

“We can invite the company to sign a voluntary compliance agreement. If they decline, we can proceed to take an injunction against them to stop them from continuing with misleading advertisements,” Seah added.

credits: propertyguru

Tagged in: economy Overseas
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The highly-anticipated community and lifestyle hub at Tampines will open in phases from the fourth quarter of 2016, reported Channel NewsAsia.

Called Our Tampines Hub, nearby residents will be able to use its badminton hall and community centre, and also dine at its F&B outlets and 800-seater hawker centre.

When fully completed, the facility will include six swimming pools, a 20-court badminton hall, five-storey regional library and 5,000-seater stadium with a FIFA-approved football pitch.

According to Education Minister Heng Swee Keat, who is an adviser to the Tampines grassroots organisations, the upcoming hub is the result of numerous suggestions submitted by residents in the past few years.

The Minister was on hand yesterday to open a new 1km cycling path at Tampines Street 11 to commemorate the 10thanniversary of the town’s cycling committee.

Touted as the first model cycling town in Singapore, Tampines now has a cycling route snaking through Changkat Community Club, Tampines Round Market and Food Centre, and HDB neighbourhood shops.

Meanwhile, a total of 76 new dual bicycle racks will be installed at Block 114 Tampines Street 11 near the community club, and Block 138 Tampines Street 11 near 137 Tampines Round Market.

Mr Heng announced that more covered walkways will also be built and lined with plants as part of the town’s Neighbourhood Renewal Programme.

Plans for the town hub were first unveiled by National Development Minister Mah Bow Tan in 2011 as part of the five-year master plan for Tampines.

credits: property guru 

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Posted by on in New Launches

Prices of resale non-landed residential properties in Singapore remained flat in July 2015 from the previous month, revealed flash estimates from the NUS Singapore Residential Price Index (SRPI).

Excluding small units, private home prices in the central region rose 0.2 percent in the month, less than the 0.6 percent increase in June.

In the non-central region, prices dipped 0.2 percent, less than the 0.7 percent dip in the month before.

For small units, which have a floor area of 506 sq ft or below, prices grew 0.3 percent in July, up from a 0.9 percent decline in the previous month.

The NUS price index for the central region tracks properties located in districts 1 to 4 and 9 to 11. Properties outside these districts fall under the non-central region.

credits: propertyguru

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Prices of non-landed private homes in Singapore fell 3.2 percent in the second quarter of 2015 from the same period last year, according to the latest Knight Frank Global House Price Index.

The report tracked 56 countries and ranked them according to the annual percentage change in home prices. Singapore placed 49th on the list.

Since 2009, the government has introduced several rounds of property cooling measures to slow down the pace of sales and push prices down.

Like Singapore, Hong Kong also introduced measures to cool its red-hot property market, but mainstream prices have shot up 20.7 percent year-on-year, the highest globally.

“Increasing liquidity and the continual flow of wealthy mainland Chinese investors into Hong Kong’s residential sector meant the number of new homes sold in the first half of 2015 exceeded 8,700,” said Knight Frank.

Globally, the Index rose marginally by 0.1 percent in the year to June 2015, its weakest rate of growth since Q4 2011.

“Of the 56 housing markets tracked, 27 percent recorded an annual decline in prices, but back in 2011, 44 percent of housing markets fell into this bracket,” added the report.

credits: propertyguru

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