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Ho Bee submits top bid of $411m for North Buona Vista site

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Ho Bee submits top bid of $411m for North Buona Vista site By Mok Fei Fei SINGAPORE : Ho Bee Developments said on Wednesday that it has submitted the highest bid of S$411 million for a land parcel located at North Buona Vista Drive. The site, to be used for commercial development, was launched for sale by JTC Corporation. It has a land area of 17,994 square metres and is located next to the Buona Vista MRT station. The total allowable gross floor area is 111,565 square metres, out of which... Read more

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Real estate agencies step up efforts to woo Chinese investors

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Real estate agencies step up efforts to woo Chinese investors By Wong Siew Ying SINGAPORE : Some Singapore real estate agencies are wooing Chinese investors to buy properties here. They are doing so by having a representative office in China and networking with private bankers to reach prospective buyers. These initiatives have benefited HSR International Realtors and ECG Property. It is not just about the property for most Chinese investors, it is the lifestyle. Property agencies said... Read more

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More than 75% of The Scala sold

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More than 75% of The Scala sold MORE than 75 per cent of the Hong Leong group’s latest residential project, The Scala, has been sold at prices averaging $1,150 per square foot. The 468-unit development in Serangoon Avenue 3 was publicly launched yesterday. Hong Leong said yesterday that the units sold at the 99-year leasehold project are spread across five residential towers that feature one to four-bedroom units ranging from 474 square feet to 2,142 sq ft. Buyers comprise a mix of... Read more

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HDB steps up checks on unauthorised sub-letting

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HDB steps up checks on unauthorised sub-letting THE Housing and Development Board has cracked down on unauthorised sub-letting. Almost four times as many checks were carried out in the first five months of this year - 2,600, versus 690 between August and December 2009. About 70 per cent of the 2,600 checks were routine inspections. The others were carried out after public feedback. HDB said it has taken compulsory acquisition action against four flat owners this year and fined six others for... Read more

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Developer sentiment still positive for H2: survey

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Developer sentiment still positive for H2: survey But Q2 consensus as indicated by net balances weaker than in Q1 poll By KALPANA RASHIWALA MORE respondents polled for Real Estate Developers’ Association of Singapore’s (Redas’s) and NUS Department of Real Estate’s (DRE’s) Q2 2010 survey were still positive rather than negative on the overall performance of the prime and suburban residential markets over the next six months. However, the consensus as indicated by... Read more

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Real estate gets a new gauge of market pulse

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Real estate gets a new gauge of market pulse New industry-backed index to measure sentiment shows mood has sobered slightly By KALPANA RASHIWALA (SINGAPORE) In a historic move, the Real Estate Developers’ Association of Singapore has teamed up with the National University of Singapore’s Department of Real Estate (DRE) to develop a Real Estate Sentiment Index (RESI), and it shows a lower reading for the second quarter of this year than for the first quarter. Developers and industry... Read more

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Exodus of property agents expected

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Exodus of property agents expected New rules on education level likely to shrink pool, but lifeline exists By Joyce Teo THOUSANDS more property agents are set to bail out of the industry over the next 17 months due to tough new rules being introduced by the Government. The regulations will impose a basic educational standard - a minimum four GCE O-level passes - on estate agents. There are now no such requirements and no mandatory examination, so anyone can easily become a property agent.... Read more

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Mass market condos still hot property

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Mass market condos still hot property 200 units at The Scala in Serangoon snapped up at launch yesterday By Esther Teo So many people turned up for the public launch of The Scala, a new condominium near Lorong Chuan MRT station, that entry to the showflat had to be decided by balloting. The units were sold at an average of $1,150 psf. — ST PHOTOS: LIM WUI LIANG HUNDREDS of eager buyers yesterday braved the early morning rain, making a beeline for the public launch of Hong Leong’s... Read more

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Sale of house: Lawyers win appeal against PI

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Sale of house: Lawyers win appeal against PI Private eye had sued them over commission paid to property agency By Selina Lum A PRIVATE eye who initially won his case against four lawyers in the Subordinate Courts now has to return the $52,000 that had been paid to him, after the High Court overturned the lower court’s decision. The amount included the $24,000 legal costs he was awarded after he sued Ms Amarjit Kour, Mr Gregory Tang, Ms Belinda Ang and Mr Peter Low. Mr Simon Suppiah... Read more

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HDB seizes flats of four home owners

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HDB seizes flats of four home owners Six other flat owners fined, in clampdown on illegal subletting By Leow Si Wan and Teh Joo Lin FOUR Housing Board home owners lost their flats in the first five months of this year, after the HDB launched an unprecedented crackdown on those who let out their flats illegally. Six others have been fined amounts that ranged from $4,200 to $14,400. Making good its earlier pledge to clamp down on illegal subletting, HDB inspectors checked 2,600 homes from... Read more

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