Singapore Economy

Stable, sustainable property market in interest of all: Heng

It is in the interest of all stakeholders to have a stable and sustainable property market in Singapore, Minister for Finance Heng Swee Keat told industry players at the Real Estate Developers' Association of Singapore (Redas) anniversary dinner at Marina Bay Sands on Thursday night.

Govt, real estate industry share interest in ensuring stable market: Heng Swee Keat

The Government and real estate industry share a common interest in ensuring a stable and sustainable property market, said Finance Minister Heng Swee Keat on Thursday (Nov 5). Speaking at an anniversary dinner of the Real Estate Developers' Association of Singapore (REDAS), Mr Heng said: "The Government has always taken a medium-term approach towards managing land supply, based on fundamental demographic and economic factors.

Home oversupply a concern: Redas

The oversupply of residential units is affecting values but, with rising costs of development, prices cannot drop too deeply without affecting product quality, argued the president of the Real Estate Developers' Association of Singapore (Redas).

Home prices cannot fall too deeply without hurting quality, says Redas

Home prices cannot fall too deeply without compromising the development quality of properties here as well as the operations of developers, the Real Estate Developers’ Association of Singapore (REDAS) warned today (Nov 5).

Keen contest for plum Serangoon residential site

Developers may complain about a property glut, but they are still showing a healthy appetite for choice residential development land. A plum 99-year leasehold private housing site near Serangoon MRT station and Nex shopping mall is a case in point. It has drawn a keen contest with 11 bids - more than the seven bids that a site near Bartley MRT station, just one train stop away, fetched in a tender that closed in January 2014.

HDB resale volume in October highest this year: SRX

Recent changes in rules benefiting buyers of HDB flats could have helped pushed up transactions of public housing flats in the resale market last month even as prices were generally unchanged. Flash estimates for October released by SRX Property show that the number of resale HDB flats sold rose 16 per cent to 1,745 from 1,504 in September. This is the highest monthly volume so far this year, it noted.

Projects lauded for growing S'pore's rooftop greenery

Singapore now has about 72ha of rooftop greenery - enough to cover over 100 football fields - up from about 64ha last year, according to the National Parks Board (NParks). This will increase almost three- fold by 2030, in line with the latest Sustainable Singapore Blueprint.

Keep fine balance between nature and urbanisation

This is proof that we have got it right, that by implementing the right policies and listening to those who are concerned and involved, we have built up this nation without depriving nature of its space altogether.

What's real estate? Depends on who you ask

Are data centres real estate? What about fibre optic networks, cell towers, and energy infrastructure? Outdoor billboards, gaming facilities, timberland and prisons? These are the kinds of assets that have been "reited" in real estate investment trusts in the US in recent years.

Tah Ching Rd lift mishap: Door protective devices worked according to specifications

Companies' Brief

More non-traditional Reits, but Asia lags in this trend

The "real estate" is being taken out of real estate investment trusts" or Reits, it would seem. In more and more markets, the traditional definition of "real estate" in a Reit is taking on a new twist. In the US, for example, more non-traditional Reit assets are listing - and they have portfolios of infrastructure, ranging from fibre optic networks and mobile towers to assets such as aged homes and even prisons.

Parkway Life Reit's Q3 DPU up 15.6%; boost from divestment gains

Lifted by one-time divestment gains, Parkway Life Real Estate Investment Trust (PLife Reit) on Thursday posted a 15.6 per cent yearonyear rise in thirdquarter distributable income to S$20.3 million. Distribution per unit (DPU) is 3.36 Singapore cents, up 15.6 per cent from 2.9 Singapore cents a year ago.

CapitaLand Ltd

Rapid clip of Chinese home sales continues: CapitaLand's Q3 2015 PATMI increased 48 per cent year on year to S$192.7 million mainly due to higher contributions from development projects at CapitaLand China and serviced residences at Ascott, project cost savings in Singapore, improved operating performances at CapitaLand Malls Asia and higher revaluation and portfolio gains; but partially offset by lower contributions from development projects in Vietnam.

Views, Reviews & Forum

Cities need architects and artists to make them sustainable

Technology offers tremendous opportunities to improve urban life by reducing energy consumption and making transport more efficient, but good design is also important to translate scientifically sound solutions into plans that are socially and economically viable, says Professor Peter Edwards, the director of the Singapore-ETH Centre for Global Environmental Sustainability, who will be a panellist at the Julius Baer Next Generation Summit today.

ABSD has outlived its usefulness

A common argument against removing the Additional Buyer’s Stamp Duty (ABSD) is that it will undo the stabilising effect of the property cooling measures. The doomsday scenario is that a flood of overseas speculators will rush into the property market and drive home prices to unaffordable levels.

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