Real News‎ > ‎2014‎ > ‎January 2014‎ > ‎

26 January 2014

Top Story

Resale flat prices not yet at 'steady state'

Source: Straits Times

The softening prices of HDB flats in the resale market is good news for home-buyers but it has not yet reached a "steady state", said National Development Minister Khaw Boon Wan. However, the Housing Board's data on home sales for the fourth quarter of 2013 suggests that "we have finally turned the corner" with the balance between sellers and buyers becoming more neutral, said Mr Khaw in a blog post put up yesterday.


Singapore Real Estate News

Fire breaks out at Pinnacle@Duxton

Source: Channel News Asia / Singapore

 A fire broke out in a flat at The Pinnacle@Duxton on Sunday afternoon at 3.30pm.

The Singapore Civil Defence Force (SCDF) said the incident happened at a unit on the 29th floor of Block 1E.

SCDF immediately despatched three fire engine trucks and one supporting vehicle to the site.

The firefighters managed to put out the fire using two hose wheels and one water jet. The furniture in the living room were damaged in the blaze.

SCDF said 10 residents had self-evacuated to the 26th floor, which has a holding area for residents during a fire.

Another 30 residents went to an open deck on the third floor, prior to SCDF's arrival.

Alex Eng, a resident from Blk 1E, said: "We saw smoke coming out from one of the windows and (there were) a lot of smoke. We went downstairs where the police and all the other residents were waiting and they told us not to go up."

The SCDF said no one was injured and that they are investigating the cause of the fire.

- CNA/fa

Property market slowdown hits home renovation companies

Source: Channel News Asia / Singapore

The slowdown in the property market, under the weight of policy measures and loan curbs, has impacted the home renovation industry in Singapore.

The Renovation and Decoration Advisory Centre said, in the past two weeks, three to four of such companies have told them that they are thinking of calling it quits.

Tan Chim Hoon, president of Renovation Contractors & Material Suppliers Association said: "Previously we will engage more workers (during Chinese New Year), but now we cannot do that because first, the levy is very high. And if you employ more workers, you must make sure (for the) following day, you have got jobs for them to do."

According to data released by the Housing and Development Board (HDB) on January 24, the volume of HDB resale transactions hit a record low last year - with only 18,100 units changing hands.

Fewer private homes were also sold in 2013, as compared to 2012.

And while more new HDB flats are being launched, businesses say some of the flats in the premium category are better furnished and require less renovation works.

- CNA/fa