For Sale Singapore Landed House - District 21 ,30-12-2007

For Sale Singapore Landed House - District 21 , 30-12-2007

Bungalow (B), Semi Detached (SD), Inter Terrace (IT) , Corner Terrace (CT) Price $K=In Thousand

Price are subject to changes , please call (+65) 91002985 for lastest update

Type — B
District — 21
Street — BINJAI PK, NO.
Tenure — FH
Age — 10+
Area — 5000
Land — 15500
stroey — 1
Room — 4
Psf — 0
PRICE $ — 0
Type — B
District — 21
Street — ENG KONG RD, NO.
Tenure — FH
Age — 10+
Area — 5200
Land — 7300
stroey — 2.5
Room — 5
Psf — 616
PRICE $ — 4500000
Type — B
District — 21
Street — HUA GUAN AVE, NO.
Tenure — 999
Age –
Area — 5200
Land — 4715
stroey — 2.5
Room — 5
Psf — 1230
PRICE $ — 5800000
Type — B
District — 21
Street — HUA GUAN AVE, NO.
Tenure — 999
Age –
Area — 4500
Land — 8177
stroey — 1
Room — 5
Psf — 783
PRICE $ — 6400000
Type — B
District — 21
Street — SIAN TUAN AVE, NO.
Tenure — 999
Age — BN
Area — 5317
Land — 4924
stroey — 3
Room — 7
Psf — 1178
PRICE $ — 5800000
Type — B
District — 21
Street — SUNSET WAY, NO.
Tenure — FH
Age — 20+
Area — 2000
Land — 3900
stroey — 2
Room — 4
Psf — 744
PRICE $ — 2900000
Type — CT
District — 21
Street — CHUN TIN RD, NO.
Tenure — FH
Age –
Area — 0
Land — 4330
stroey — 2
Room — 3
Psf — 665
PRICE $ — 2880000
Type — IT
District — 21
Street — ENG KONG DR, NO.
Tenure — FH
Age — 10
Area — 3200
Land — 1905
stroey — 3
Room — 4
Psf — 840
PRICE $ — 1600000
Type — IT
District — 21
Street — WAJEK WLK, NO.
Tenure — 999
Age — 10
Area — 2500
Land — 2400
stroey — 2
Room — 3
Psf — 875
PRICE $ — 2100000
Type — IT
District — 21
Street — YUK TONG AVE, NO.
Tenure — FH
Age — 40
Area — 1200
Land — 1700
stroey — 1
Room — 4
Psf — 700
PRICE $ — 1190000
Type — SD
District — 21
Street — BEE SAN AVE, NO.
Tenure — FH
Age — 30+
Area — 2200
Land — 3358
stroey — 2
Room — 3
Psf — 0
PRICE $ — 0
Type — SD
District — 21
Street — ENG KONG GDN, NO.
Tenure — FH
Age — 30+
Area — 0
Land — 3700
stroey — 2
Room — 3
Psf –
PRICE $ –
Type — SD
District — 21
Street — GREENBANK PK, NO.
Tenure — FH
Age — BN
Area — 4000
Land — 3000
stroey — 3
Room — 5
Psf — 900
PRICE $ — 2700000
Type — SD
District — 21
Street — HUA GUAN AVE, NO.
Tenure — FH
Age — 15+
Area — 0
Land — 3343
stroey — 2
Room — 4
Psf — 1047
PRICE $ — 3500000
Type — SD
District — 21
Street — JLN JAMBU AYER, NO.
Tenure — FH
Age — BN
Area — 3856
Land — 2937
stroey — 3
Room — 6
Psf — 1566
PRICE $ — 4600000
Type — SD
District — 21
Street — JLN JAMBU AYER, NO.
Tenure — FH
Age –
Area — 3500
Land — 3060
stroey — 2.5
Room — 4
Psf — 1307
PRICE $ — 4000000
Type — SD
District — 21
Street — JLN JAMBU MAWAR, NO.
Tenure — FH
Age –
Area — 2500
Land — 3000
stroey — 2
Room — 3
Psf — 1167
PRICE $ — 3500000
Type — SD
District — 21
Street — JLN SELANTING, NO.
Tenure — FH
Age –
Area — 2800
Land — 2800
stroey — 3
Room — 6
Psf — 0
PRICE $ — 0
Type — SD
District — 21
Street — LOR PISANG UDANG
Tenure — FH
Age –
Area — 0
Land — 3780
stroey — 2
Room — 3

Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property

Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse; land right here.

MINDY YONG

( +65 ) 91002985

mindy@mindyyong.com ( email me )

http://www.hotvictory.com

Will sale of Singapore house affect tenancy agreement?

Will sale of Singapore house affect tenancy agreement?
Q WE RENTED out our house in April last year. We signed a three-year tenancy agreement prepared by the tenant’s agent.

As the property’s price has gone up a bit, we wish to sell this house. A potential buyer is willing to offer a price but does not wish to take over the existing tenancy agreement as he intends to live there.

After going through the tenancy agreement, I realise that something is amiss.

In the terms and conditions under ‘option to renew’, it states that the tenant is entitled to a three- year renewal on the same terms and conditions if the tenant makes a written request not less than three months before the expiration of the tenancy and if there is at the time no ‘existing breach or non-observance of any of the agreements and stipulations on the part of the tenant herein contained’ and ‘as long as the landlord remains unchanged’.

In another part of the terms and conditions, it says that ‘in the event that the landlord decides to sell the premises, the landlord or his agent will be permitted to arrange viewing of the premises at a reasonable time of the day by prior appointment giving one day’s notice. The landlord will have to sell with tenancy to the new purchaser’.

1. Can we break the lease? What is the penalty?

2. If the buyer takes over the tenant, does he have to sign a fresh tenancy agreement? What if he does not agree with the rental or terms and conditions?

A FIRST, the current period of the lease. You cannot break the lease unless there is a breach of any of the covenants. These covenants are usually spelt out in the Tenancy Agreement.

The most common covenant would be the duty for the tenant to pay rent. If he does not pay the rent on time or at all, it is a breach of the covenant which may entitle you to terminate the tenancy agreement. You will need to look closely at the provisions on whether you need to give notice to the tenant and to allow him a grace period to remedy the breach.

Second, the contractual obligation to renew the lease for a further three years at the same price provided (1) the tenant wishes to renew the lease and (2) he was not in breach of any of the covenants (that is, non-payment of rent) at the time he asks to renew the lease.

Insofar as this clause is concerned, it is a contractual term which you have agreed to and on which you cannot now renege.

A breach of the tenancy agreement is a breach of the contract. The loss payable to the tenant would be that which would put him in a position as if the tenancy had never been terminated.

This means that he is entitled to claim from you the additional rent he has to pay in order to get accommodation of the same or similar size and location. In other words, you would be liable to pay him for additional rent incurred for three years plus the remaining period of the current term.

To answer your second query, when a purchaser buys a property with tenancy, it means that he is agreeing to take over as the landlord from the last owner.

In other words, the tenancy will continue but merely with a new landlord. The terms cannot be changed.

In this case, a buyer needs to agree not only to buy the property, but also to the tenancy on the same terms as the current ones.

The clauses in this case are not usual and are not in the interests of the landlord.

Most tenancy agreements tend to be in the landlord’s favour and would include for example, a clause to say that whenever the landlord sells the property, the tenancy is deemed to be at an end and that there will be no recourse to the landlord for any loss incurred.
Source : Straits Times - 30 Dec 2007

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

Interest in Singapore property auctions picking up

Interest in Singapore property auctions picking up

Record 810 sales closed this year as transparency of process, immediacy of deals attracts buyers

By Joyce Teo, Property Correspondent
A WIDER VARIETY OF HOMES WAS PUT UP FOR AUCTION THIS YEAR, including penthouses and high-end condominiums such as The Berth by the Cove, Marina Bay Residences and Paterson Residence. However, many failed to sell, with buyers discouraged by the price levels.

ONE of the more striking consequences of the booming real estate market has been the sharp increase in the amount of property - residential and commercial - going under the hammer.
Auctions, which used to be associated mainly with forced sales of repossessed properties, got the thumbs-up from owners this year.

A record 810 properties were auctioned this year - 210 more than last year - while the value of sales shot from $129.54 million to $264.7 million.

‘The rising market earlier this year actually encouraged more buyers to buy at auctions because it is a transparent process and a confirmed buy,’ said Ms Mok Sze Sze, the head of auctions at Jones Lang LaSalle.

While some buyers can be intimidated by auctions - where they face a room full of potential rivals - they can yield results.

Mr Teo Jing Kok, the Singapore Land Authority’s (SLA’s) deputy director of sales, said: ‘Unlike a tender, the auction process gives individuals who may not be familiar with the real estate market the time and opportunity to adjust their bids.
Properties put up for auction by owners?

‘In a tender, an amateur will have only one chance to get his bid correct and it favours those who are more experienced, for example, land developers.’

The SLA held a first-of-its-kind auction of six small residential plots aimed at individuals keen on developing their own landed homes. All six were sold at the auction last month.

The bulk of auction sales this year - 45 per cent - were in the residential sector and included good-class bungalows. Private retail units made up 21 per cent while HDB shops accounted for 17 per cent of the total.

Shophouses, while forming only 5 per cent of auction sales, reflect one of the most significant trends in real estate this year - soaring office rents.

Because rents have escalated due to tight supply, some firms have opted to buy shophouses via an auction in a bid to avoid paying exorbitant rates in prime areas, said Knight Frank’s executive director (auctions), Ms Mary Sai.

A wider variety of homes was put up for auction this year, including penthouses and high-end condominiums such as The Berth by the Cove, Marina Bay Residences and Paterson Residence. However, many failed to sell, with buyers discouraged by the price levels, said Ms Sai.

Auctions can yield bargains for canny bidders. A three-bedroom walk-up apartment in Joo Chiat Place went for $490,000 earlier this month - about $40,000 above the opening bid - but around $10,000 or more less than what such properties usually fetch, said Ms Sai.

But a 2,465 sq ft unit at Watten Estate Condominium sold for $2.4 million in an April auction, compared with the $1.73 million price tag for a similar-sized unit in the estate late last year.

There were a few bidders who were probably betting on the estate’s en-bloc potential and thus drove prices up, added Ms Sai.

Owners taking the auction plunge typically pay a charge of 1 per cent as well as the 7 per cent goods and services tax. There is also an administrative fee that can range from $500 to $1,000 to cover advertisements, printing of the property’s particulars, auction room rental and other costs.

A key benefit owners enjoy from auctions is that ‘they get their money straightaway and there is no need for any negotiation, even on sale terms’, said Ms Sai. But if the real estate sector is quiet, buyers might be thin on the ground and bids may struggle to rise above the reserve.

The cooler market over the past two months has seen few sales done at auctions but more are expected next year, especially from the mass market segment, consultants said.

Those keen to buy at auctions should arrange for a viewing beforehand and ensure they can slap down an upfront payment of 10 per cent of the sale price if their bid succeeds.

The first auction of the new year will be on Jan 10 when Knight Frank will auction off residential properties and a strip of land behind a row of houses in Balestier.

Colliers International will hold one on Jan 16, followed by DTZ on Jan 17 and Jones Lang LaSalle on Jan 29.

Source : Straits Times - 30 Dec 2007

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

How to be a great investor, not a hopeless gambler

How to be a great investor, not a hopeless gambler

By Gary Marks, AUTHOR
Q WHAT are some of the hidden investing pitfalls that most people never consider?

A Next to overconfidence, the most dangerous pitfall is greed - and thus the tendency to take too much risk.

Most investors fail to grasp the devastating impact of losses: Make 100 per cent and then lose 50 per cent, and you only break even. Lose 50 per cent and you must make 100 per cent just to recover.

Thus, the key to success lies in protecting your principal. Knowing when to cut losses is life in the real world. Knowing when to cash in profits, or abandon a faltering strategy, is of equal importance.

Most investors don’t realise they don’t have to be aggressive to win.

They should tell themselves, ‘I don’t have to spend every day worrying about a risky investment. I have a better life planned for myself than being held hostage to the movements of volatile investment. My cautious investments will serve me well enough.’

Instead, they hear tales of quick riches, or gambles that paid off for someone else, and they want to take a gamble too. But almost all gamblers end up losing to the house. Time is on the side of the casino.

Q Everyone loves to win. And winning can be addictive. How do you help people overcome the gambling mentality?

A Sometimes, the best thing that can happen to an investor is to lose money on his first investment. Then he learns to look for inherent dangers and he becomes a more astute investor far sooner than an early winner would.

Investing is about dealing well with failure, because failures occur constantly. What separates great investors from poor ones is how they respond to failure. Gamblers respond poorly to both success and failure.

When things go well, the gambler thinks: ‘Why quit now? I’m on a roll.’ When things go badly, he says: ‘I can’t quit now, not until I make back what I’ve lost.’

The great investor reasons: ‘If this goes against me down to point X, I’m out. If I win up to point Y, I’m going to book my winnings and move on to the next idea.’

He places his bets on a stock or sector, or an allocation model. That discipline helps him stay in the game.

Source : Straits Times - 30 Dec 2007

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

13,969 new Singaporeans

13,969 new S’poreans

In the first 10 months of this year, a record 13,969 received their pink IC. SHULI SUDDERUDDIN meets three new citizens who now call Singapore home
HAPPY WITH HER LIFE NOW, Madam Perera is seen here chatting with her neighbour Sridevi Maddela, wjile carrying her neighbour’s daughter Pooja and holding onto her son Kevin.

Out of Sri Lanka in search of a haven here

A CHANCE of a better life away from war and graft drove Madam Melani Monika Perera to leave Sri Lanka and seek a haven in Singapore.
Madam Perera, 45, has found that haven and, in the process, has picked up one of her new homeland’s main obsessions - a love for food.

Since coming here, she has learnt how to cook Singapore dishes from her friends and neighbours.

In fact, she has become so adept in the kitchen she is preparing mutton curry and sambal prawns for a New Year feast with her neighbours.

Madam Perera, who was granted citizenship along with her husband in February, came here 10 years ago. She was looking for a job but found a husband - fellow Sri Lankan Peter Milroy - at the Novena church, which they both attend.

She feels S’porean
‘I haven’t returned to the Philippines since my parents passed away four years ago. I feel like a local.’
MS GEMMA GARCIA

They now have a son, seven-year-old Kevin Nacrath, and live in a three-room HDB flat in Whampoa.

Madam Perera, who is an estate agent, struggled with English at first but became fluent in it by chatting with her neighbours. Now she is the one who helps new arrivals fit in.

She said: ‘I came to Singapore because it is near Sri Lanka and has a similar climate. It is also peaceful, without war or corruption.’

——————————————————————————–
Veteran poet bags top Malay literary prize

POET Djamal Tukimin has finally won the Tun Seri Lanang award - the most prestigious in the Malay literary scene - after four unsuccessful nominations.
The award, which marks outstanding contributions to Malay literature, was presented by Community Development, Youth and Sports Minister Vivian Balakrishnan yesterday.

An emotional Mr Djamal, 62, told reporters at the Malay Literary Award ceremony: ‘This is a great honour for me. I never expected to win it this time, not after losing so many times before.’

Mr Djamal, who has published six Malay titles since 1977, also received a cash prize of $5,000.

Twenty-two other awards were also given out by the Malay Language Council, which noted that many new writers submitted works.

However, most awards went to veteran writers.

But one young writer bucked the trend. Radio reporter Atiyyah Mohamed Said, 25, won an award for a short story she wrote ‘for fun’ about a girl who could not come to terms with her sister’s death.

Ms Atiyyah said: ‘I’ve always enjoyed writing but this is a major turning point. Now I know my work is getting some attention.’

Dr Balakrishnan said the Government will continue to support Malay literary work with grants for writers and literary societies.

The minister also encouraged Malay authors to extend their work beyond Singapore, citing the example of writer and architect Isa Kamari, whose works were translated into Chinese and showcased in China.

Source : Straits Times - 30 Dec 2007

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

2,800 motorists buy HDB family season parking tickets

2,800 motorists buy HDB family season parking tickets

MR MOHD Shabirin Ariffin visits his parents at their Jurong East HDB flat almost every day.
The television channel promotions manager takes his two-year-old daughter Safia Nabila to play with her grandparents. On some nights, they even stay over.

Where he used to worry about preparing parking coupons for night-long stays, Mr Mohd Shabirin now uses a half-price season parking ticket.

The Housing Board introduced the family season parking ticket scheme on Oct 1 so that family members can visit one another without worrying about the cost of parking.

The scheme allows HDB residents to buy a second season parking ticket for family members at half price - $32.50.

For multi-storey carparks, the savings are even bigger with $90 parking tickets going for $45.

Since the scheme started, about 2,800 motorists have bought family season parking tickets.

Mr Mohd Shabirin, 30, even bought a half-price ticket for his parents to use when they visit him at his HDB flat in Bukit Panjang.

He said: ‘Previously, my parents didn’t display enough coupons and they would be summoned. A $20 summons each time isn’t worth it. If you have to keep thinking about parking fees, you don’t enjoy the visit.’

An HDB spokesman said about 85 per cent of the tickets sold so far were for parking at the carparks of parents’ and in-laws’ flats.

The rest were for parking at the homes of children, siblings, grandparents and other relatives.

Postgraduate student Johan Suen, 25, visits his cousins and uncles in Choa Chu Kang several times a month to play games and chat.

‘I’m considering buying it so that I can visit them for longer periods of time,’ he said. ‘Tearing coupons is such a hassle.’
Source : Straits Times - 30 Dec 2007

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

More teachers to be trained for special-needs kids - Singapore

More teachers to be trained for special-needs kids  - Singapore

MORE secondary school teachers will be equipped to help students with learning disabilities such as dyslexia or autism.

The Education Ministry is revising its target so that by 2012, 20 per cent of mainstream secondary school teachers will have good knowledge of special needs education.

Its target is now 10 per cent of all primary and secondary school teachers.

Secondary schools are now the focus because students are generally taught by more teachers at that level, said Education and Finance Minister Tharman Shanmugaratnam.

The minister was guest of honour at yesterday’s Dyslexia Association of Singapore Student Graduation and Special Achievement Awards.

More than 60 students from various schools received certificates and awards for having learnt to read and spell at a level appropriate for their age.

All new teachers already undergo a compulsory module in dealing with special needs students as part of their initial training.

But since 2005, the Education Ministry has also been coaching mainstream teachers under a separate initiative.

By next year, 1,125 teachers in primary and secondary schools would have had the extra training.

Mrs Florence Ruth Loo, a counsellor at Mayflower Primary School, said students will benefit from the larger pool of trained teachers: ‘There will be continuous support from primary to secondary school, and that would really help them.’

Source : Straits Times - 30 Dec 2007

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

Property Boom in Singapore

1 . PROPERTY BOOM in Singapore

THE property sector waited 10 long years for a proper recovery. This year, new all-time highs were set in so many categories, so often, that people lost count.
The year saw the sale of the most expensive apartment in Orchard Residences (both in absolute cost and per square foot terms), the priciest collective sale (Westwood Apartments in Orchard Boulevard) and the most expensive HDB flat and coffee shop (in Marine Parade and Jurong respectively).
The early boom in luxury properties filtered down to suburban condos and HDB flats. Latest figures show that nearly every single HDB flat sold these days goes at a price above market valuation.
The exuberance of the first six months has given way to a more cautious outlook since the Government stepped in to calibrate the market’s rise.
The removal of the deferred payment scheme, introduction of guidelines on transparency of transacted prices and the release of more land have all served to take the froth off what the Global Property Monitor has termed the world’s hottest property market in 2007.
Market watchers are already tipping 2008 to be a great year for mid-to-low priced homes, but the euphoria that marked most of 2007 will be hard to replicate for many years to come.

2 U.S. SUB-PRIME CRISIS

AT THE start of this year, no one really understood, or cared to understand, the obscure ’sub-prime’ mortgage market.
Now, the chiefs of some of the world’s largest banks - Citigroup, Merrill Lynch and UBS - have lost their jobs because of it.
And banks have been forced to write down a staggering US$50 billion (S$72.6 billion) in losses, with experts estimating another US$200 billion to come.
Economists have been fretting for some time now over when and how the next global financial crisis will occur, and signs of the current implosion emerged in the summer of this year.
Sub-prime lenders had been loaning billions of dollars at low rates to home buyers with dodgy credit histories in the United States and elsewhere.
Banks then repackaged these mortgages with sounder loans into complex securities called collateralised debt obligations (CDOs), selling them to other investors in the financial markets.
As property prices stopped rising and promotional low rates expired, these loans turned sour and CDOs backed by them became worthless.
No one knows how deep the troubles go, and experts warn that the world is only seeing the start of a full-fledged financial crisis.

3 SOVEREIGN WEATH FUNDS

GLOBAL consultancy McKinsey recently hailed them as one of the world’s new ‘power brokers’.
And indeed, the world’s sovereign wealth funds (SWFs) - investment companies and funds owned by governments - have in recent weeks been flexing their financial muscle on Wall Street.
Abu Dhabi Investment Company bought 4.9 per cent of Citigroup for US$7.5 billion and the China Investment Corporation has spent US$8 billion on sizeable stakes in Morgan Stanley and Blackstone Group.
The Government of Singapore Investment Corporation bought up to 9 per cent of UBS for S$14 billion and Temasek Holdings has invested up to US$5 billion in Merrill Lynch.
With Asian governments steadily running surpluses and chalking up reserves, and oil money pouring into Middle Eastern states, some estimate the total size of SWFs will reach US$12-15 trillion by the next decade.
This sort of power is making policymakers in the developed world nervous, and there have been calls for the World Bank and the International Monetary Fund to develop a set of guidelines for the world’s SWFs.
The outcome will be closely watched, not least by Singapore, which is home to two of the world’s ‘Super Seven’ SWFs and has been a prime beneficiary of free and open investment rules thus far.

4 FOREX LOSSES

IN A year that ought to have seen rig builder SembCorp Marine celebrate record high oil prices, the company hit the headlines for all the wrong reasons.
It shocked the corporate sector in October when it revealed that finance director Wee Sing Guan - a 33-year veteran of the company and described as ‘quiet and unassuming’ - was responsible for losses of $439 million following a series of disastrous foreign exchange trades.
The scandal underlined the dangers of companies dabbling in currency trading in a year that saw the US dollar tumble to record lows against major currencies like the euro.
SembCorp Marine was not alone. A week after its announcement, shipbuilder Labroy Marine said it had racked up $209 million in forex losses and was bought by Dubai Drydocks World for US$1.63 billion.

Source : Straits Times - 29 Dec 2007

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

More legislation needed to protect S’pore condo owners who do not wish to join en-bloc sale

More legislation needed to protect S’pore condo owners who do not wish to join en-bloc sale

I HOPE there can be some preventive measures to protect owners of condominiums which have failed in an en-bloc sale, or those who have spent substantial funds on upgrading.
In my condo in Clementi Park, there is renewed dissent by residents against the forming of yet another committee to try again for another en-bloc sale. Owners recently banded together to form an anti-en-bloc group called Save Clementi Park and have launched a website www.saveclementipark.com to save the condo. The web site features many pictures of the condo.
The en-bloc sale attempt last year failed to receive even 50 per cent of the vote. Immediately after this failed attempt, one committee was disbanded, but another one was formed in November this year. This has unsettled many of the residents and such social upheaval is becoming all too common in Singapore.
As a resident of the condo, I am not in favour of an en-bloc sale. En-bloc processes, to say the very least, are disruptive. Moreover, our condo is in the process of upgrading at a cost of $2 million. An en-bloc attempt after a majority of us have voted to upgrade would be a sheer waste of owners’ funds. Our upgrading will only complete around mid-2008.
There is no mechanism in place to deal with this. This is harmful to our societal psyche as stated by Mr Waleed Hanafi in his many website articles on en-bloc madness. Perhaps a time ban of, say, 15 years could be put in place for condos which have spent more than $500,000 for upgrading. Some balancing mechanism to reflect and honour decisions made by subsidiary proprietors should also be in place.
The en-bloc law needs to be reviewed.
Source : Straits Times - 29 Dec 2007

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

Singapore URA to launch industrial site at Playfair Rd

Singapore URA to launch industrial site at Playfair Rd

By UMA SHANKARI
THE Urban Redevelopment Authority (URA) yesterday said it will put up an industrial site at Playfair Road for public tender in about two weeks’ time after it received an application from a developer committed to bid at least $12 million for the site.
The price works out to about $52 per sq ft per plot ratio (psf ppr). But the site could fetch $80-90 psf ppr in the public tender, market watchers said. This works out to $18.6-20.9 million.

The 60-year leasehold site in the Paya Lebar area has a land area of 92,900 sq ft and a 2.5 plot ratio, giving it a maximum gross floor area of 232,200 sq ft. The site is zoned for ‘Business 1′ use and can be developed for a range of clean and light industrial uses and warehouses.

The site was made available for sale through the government’s reserve list system. Under this system, a site is only offered for public tender if the government receives an application from a developer who commits to bid for the site at a price deemed acceptable.

URA yesterday said it will launch the public tender for the site in about two weeks. The launch date will be announced later, it said. A tender period of about four weeks will be allowed for the site.

Demand for industrial space is expected to be strong going forward, analysts say. Rents and occupancy rates for industrial space are expected to continue growing in 2008.
Source : Business Times - 29 Dec 2007

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com