Top Stories

'Too early' to lift property curbs: Lawrence Wong

The property market is "on track for a soft landing", but it is still not time to unwind cooling measures, National Development Minister Lawrence Wong said yesterday. "Resale prices have softened gradually to 2011 levels, and more than half of resale flats are now transacting close to their market value," he wrote in a blog post yesterday.

Lawrence Wong: S'pore property market now healthy and stabilised

Singapore's housing market is now "healthy" and "stabilised" and is "on track for a soft landing", but it remains too early to talk about unwinding any property cooling measures.  Minister for National Development Lawrence Wong said this to reporters on Wednesday after visiting the recently completed Build-To-Order (BTO) project, Tampines Greenlace, and meeting several families who had just moved in.

HDB resale market on track for a soft landing: Lawrence Wong

The local property market is on track for a "soft landing", said National Development Minister Lawrence Wong. The housing chief noted that resale flat prices have softened gradually to 2011 levels, with more than half of resale flats transacting close to their market value. "This is a good outcome for both buyers and sellers," said Mr Wong in a blogpost on Wednesday (Dec 30).

BTO flat supply to rise to 18,000 next year

The number of new Housing Board Build-To-Order (BTO) flats will be ramped up to 18,000 next year to provide for a rise in demand. This is about 3,000 flats more than the 15,100 units launched this year, National Development Minister Lawrence Wong revealed yesterday.

Singapore Real Estate

Keppel takes full control of Keppel Bay Tower

Keppel Group on Wednesday said it has completed a share swap with Mapletree Investments that would see Keppel holding full control of office building Keppel Bay Tower. Keppel has acquired the remaining 30 per cent interest in Harbourfront One Pte Ltd - which holds Keppel Bay Tower - from Mapletree for S$180.9 million. This was done through K-Commercial Management, which is fully held by Keppel Land.

Fire breaks out near City Square Mall; no injuries reported

Companies' Brief

A-Reit announces board reshuffle

The head honcho of urban solutions provider Ascendas-Singbridge is joining the board of Ascendas Real Estate Investment Trust (A-Reit). Miguel Ko, group chief executive officer of Ascendas-Singbridge, will be appointed a non-executive director on A-Reit's board on Jan 1, the Reit said in a press release on Wednesday morning.

TEE Land

Since March 2015, TEE Land has been steadily increasing its investment in 2-14 Kings Cross Road. Following a high profile launch that set record prices and new acquisitions in the vicinity by other property companies over the last two months, TEE Land's investment now seems to be a carefully selected target with rich upside potential.

Far East Orchard

Far East Orchard has agreed to buy a development site in Brighton, East Sussex in Britain for about £5.35 million (S$11 million). The group will develop the 0.16ha site into purpose-built student accommodation including about 200 student rooms and eight affordable housing units. The development is estimated to be completed by the end of 2018.

Views, Reviews & Forum

Review rules for inherited HDB flats from parents

The Housing and Development Board (HDB) should review its rules for the inheritance of flats. In line with market cooling measures in 2010, private property owners are not allowed to inherit subsidised flats within the Minimum Occupation Period (MOP). Even if the proposed owner sells his private property upon execution of the will, he would still be debarred for 30 months.

Global Economy & Global Real Estate

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