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.

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.

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.

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.

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.

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.

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