Singapore Real Estate Elderly to get more HDB lease options The new Flexi scheme for the sale of two-room flats unveiled by the Housing & Development Board (HDB) on Wednesday was lauded by market watchers for offering flexibility in lease tenure for the elderly. The scheme is the result of the merging of two previous schemes: one was the Studio Apartment (SA) scheme, under which such flats with 30-year leases were sold to those aged at least 55 who had sold a previous flat to fund their retirement; the other was the two-room flat scheme, which offered these flats on a 99-year lease to families and singles. http://www.businesstimes.com.sg/real-estate/elderly-to-get-more-hdb-lease-options http://www.straitstimes.com/singapore/housing/more-flexible-hdb-flat-options-for-elderly-buyers http://www.channelnewsasia.com/news/singapore/elderly-get-more-options/2060420.html Seniors buying Flexi flats can choose fittings too Seniors buying homes under the Housing Board's new Two-Room Flexi scheme will not only get to choose their lease lengths but also the fittings in their flats. The units with shorter leases, which are available only to those aged 55 and above, can come in "move-in condition", at an extra cost. This means they will have features such as lights, window grilles, built-in kitchen cabinets, gas hobs and water heaters. http://www.straitstimes.com/singapore/housing/seniors-buying-flexi-flats-can-choose-fittings-too Mortgagee sales of larger homes on the rise Larger homes are increasingly going up for mortgagee sale, amid higher interest rates and a slumping leasing market. The smaller pool of buyers for such prime properties and the tougher lending rules mean that strapped owners often have no choice but to let the bank step in and put the home up for sale. http://www.straitstimes.com/business/property/mortgagee-sales-of-larger-homes-on-the-rise 20 office units in Parkway Centre up for sale A portfolio of 20 strata-titled office units in Parkway Centre is being put up for sale via an expression of interest exercise, at a total indicative price of up to $34.6 million. Parkway Centre, in Marine Parade, is a 13-storey suburban commercial building with retail units on the first floor and office units from the second to 13th floors. http://www.straitstimes.com/business/property/20-office-units-in-parkway-centre-up-for-sale Pioneer estate now a ghost town Singapore's first 10-storey flats, colloquially known as "chap lau chu" in Hokkien, are seven blocks of brown and beige-coloured flats in Commonwealth Drive. Built in the early 1960s, this pioneering "mini estate" introduced Singaporeans to the concept of a self-contained "public housing precinct" with several tall housing blocks next to a food centre. http://www.straitstimes.com/singapore/housing/pioneer-estate-now-a-ghost-town Global Economy & Global Real Estate Park Hotel Group expands into Australia Singapore-based Park Hotel Group has inked a deal to manage an upcoming hotel in Adelaide. The 30-storey project in the city centre will consist of 280 private residences, 250 guest rooms and suites, a restaurant, swimming pool and other facilities. The private residences will be put up for sale. http://www.straitstimes.com/business/park-hotel-group-expands-into-australia Thakral, Aberdeen tie up for Australian real estate projects US home-rental firms trade below IPO prices http://www.businesstimes.com.sg/real-estate/us-home-rental-firms-trade-below-ipo-prices US home prices rise faster than pay of young workers http://www.businesstimes.com.sg/real-estate/us-home-prices-rise-faster-than-pay-of-young-workers Sumitomo yields rise on debt fatigue despite property boom Traders scale back bets on rate cuts as Sydney home prices surge China's Dalian Wanda plans 15b yuan local bond sale http://www.businesstimes.com.sg/real-estate/chinas-dalian-wanda-plans-15b-yuan-local-bond-sale Airbnb partners China Broadband and Sequoia to expand in China Neighbourhood opposition to NY skyscraper plan http://www.businesstimes.com.sg/real-estate/neighbourhood-opposition-to-ny-skyscraper-plan Dick Fuld’s Sun Valley Estate Could Be Yours for $30 Million |