Landed Semi D For Sale @ Walmer Drive, off Serangoon Garden Way -06.01.2008

Landed Semi D For Sale @ Walmer Drive, off Serangoon Garden Way

Eco-Friendly Landed Semi-D for Sale @ Walmer Drive, off Serangoon Garden Way.

Land Size:3400sqft, Built-up: 4764sqft

1.5 storey high

High Ceiling with ventilators around the house to make it cooling.

Every room have its own nature view.

7 Rooms with A/C and mosquito screen to fend off insects/creatures

Buy To Shock Your Relatives.

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

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mindy@hotvictory.com ( email me )

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International Plaza For Sale Singapore Commercial

International Plaza For Sale Singapore Commercial

International Plaza

10 Anson Road, High floor
936sqft Rental $6084
Asking 1700psf

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@hotvictory.com ( email me )

http://www.hotvictory.com

Pantech Ind Complex For Sale Singapore Commercial / Industry

Pantech Ind Complex For Sale Singapore Commercial / Industry

a) Blk 194 1787sqft
Asking 290psf Vacant possession

b) Blk 196 3638sqft
Asking 290psf Vacant possession
Resevoir view, office done up

c) Blk 196 2110sqft
Asking 290psf Tenanted at $1.60psf till 12/08
Reservoir view.

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@hotvictory.com ( email me )

http://www.hotvictory.com

How can Singapore landlord reclaim house when tenant fails to pay rent?

How can Singapore landlord reclaim house when tenant fails to pay rent?

Q MY FRIEND’S three-room terrace house in Singapore was rented out to a divorcee and her daughter. The tenant put down a total deposit of $1,200, consisting of one month’s rental of $1,000 and $200 for utility bills.
The tenant last paid rent in April last year. She owes four months’ rent, or $4,000. Before that, she had been late in making payments for several months. Unpaid bills for utilities add up to about $100.

The landlord has chased the tenant for rental payment since June. At first, the tenant gave many excuses and promises, but they all turned out to be false.

Since late July, the tenant has stopped answering the landlord’s calls to her mobile phone and has also not returned any SMSes. She and her daughter were hardly ever at home.

In late July, the landlord locked the front and back gates of the house with extra padlocks but did not enter the house. The tenant’s possessions are still in the house. The tenant did not attempt to enter the house or contact the landlord.

The landlord made a police report that the tenant owed money and could not be contacted. The landlord’s primary goal is to reclaim the house and rent it to someone else. The money owed is secondary.

A notice containing details of the amount owed and of the police report that had been made was posted on the front door of the house. The same notice was circulated to neighbours.

The tenant’s furnishings were bought from a furniture company on instalment.

My questions are:

a) Does the landlord have the right to lock up the front and back gates of the house without entering the house?

b) What are the landlord’s liabilities if he enters the house and then sells the tenant’s possessions to reclaim part of the money owed?

c) What are the landlord’s liabilities if he enters the house, takes photos of the interior of the house with all the tenant’s possessions, for documentation purposes, and then moves the possessions into a storage room?

After that, can the landlord rent out the house to another tenant but keep the storage room for his own use in order to store the previous tenant’s possessions?

d) If the tenant makes a police report that the landlord entered the house and took her possessions, can the police arrest the landlord?

e) Can the furniture company make a claim against the landlord for selling the furnishings that are still being paid for by instalment?

f) What is the best method to evict the tenant in my friend’s case?
A WHEN a tenant fails to pay rent, the landlord may of course sue the tenant for the arrears of rent, just as he could with any other debt due and owing.

The action must be brought within six years of the date that the arrears became due.

However, the landlord has two other specific remedies, namely, distress under the Distress Act and forfeiture of the lease.

Distress is an ancient remedy that is quite similar to seizure and sale - that is, the tenant’s goods are seized and sold, and the rent owing must not exceed 12 months of the tenancy.

Such an action may be brought if the tenant is still in occupation or has his goods or belongings on the property. The procedure starts with the filing of a writ of distress that is addressed to the sheriff. The sheriff will seize the goods, and make an inventory and a valuation. He will also give the tenant a notice of the seizure, informing him of the rent owed and that the goods seized will be sold at a stated place and time.

Such a notice may be pasted in a conspicuous place on the premises. The tenant has five days to pay up from the date of notice or to apply to court for an order to stop the sale.

On the tenant’s application, the court may order that the goods be released unconditionally, direct that an issue be tried and so suspend the writ, or hold that the goods may be sold.

Of course, if no application is made, the goods will be sold and the proceeds applied first to pay the sheriff’s costs and then to satisfy the outstanding rent. The balance, if any, would be returned to the tenant.

Certain items cannot be distrained, such as things in actual use in the hands of the tenant, tools and implements, and his necessary clothes and bedding for himself and his family.

Only movable items may be seized, so fixtures are excluded. It is also common for most hire-purchase companies to expressly provide in the hire-purchase agreement that the hiring shall automatically terminate if the hirer’s landlord takes any steps to levy distress. Therefore, such goods cannot be seized and, if seized, would be released by the court.

Where the tenant has abandoned the premises and there is insufficient property for distress, then if (a) the rent is not less than 75 per cent of the annual value of the property and (b) the rent has been in arrears for at least two months, the landlord may apply to court to enter and take possession of the premises.

The sheriff will paste a notice informing the tenant that possession will be given to the landlord unless the tenant applies within 10 days, or the court orders otherwise, on the application of the tenant or some other interested party.

If the distress action is brought after bankruptcy proceedings have started against the tenant, then only three months of arrears of rent are recoverable against him. The landlord may also file a proof of debt with the Official Assignee against the bankrupt tenant, just as he could with any other unsecured creditor.

The landlord may also apply for forfeiture of the lease, which would effectively bring the lease to an end. This is usually an action for possession, and a well-drafted agreement will usually contain a clause for re-entry in the event of the tenant’s failure to pay rent.

However, the tenant may apply to court before judgment for relief from forfeiture by paying into court all the arrears of rent and costs, in which case the tenant would be able to continue with the lease and not have to enter into a new lease.

Even after judgment for possession, the tenant is still entitled to relief if he pays up the judgment sum with costs within four weeks of the judgment. The law is not explicit about whether relief is still available to the tenant where the landlord has entered into possession peaceably and changed the locks. While the court might still be able to grant relief, it would, however, take into account the lapse of time as it would not be fair to the landlord if the tenant were to appear out of the blue and pay the arrears to reclaim the lease. The tenant’s significantly long absence could well be read as an implied surrender of the lease.

In your friend’s case, it appears that he has entered into possession peaceably and that has effectively brought the lease to an end.

However, your friend should be mindful of the tenant’s right to apply for relief. The tenant’s right to relief is extinguished only if your friend issued and served proceedings for possession, obtained judgment and then entered the premises on the strength of that judgment.

As for the tenant’s goods, it is prudent and best to apply for a court order as the tenant might make all sorts of allegations that his property had not been properly valued or had been sold at an undervalued price.

The police usually treat disputes between landlord and tenant as a commercial matter.

Source : Straits Times  - 06 Jan 2008

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

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Are Singapore condo-like HDB flats good value?

Are Singapore condo-like HDB flats good value?

They might come with fancy trappings but can’t be bought and sold freely like private condos

By Fiona Chan, Property Reporter
THE FIRST PROJECT under the Design, Build and Sell Scheme, The Premiere @ Tampines, drew huge crowds at its 2006 launch. — PHOTO: SIM LIAN LAND

THE high-end HDB flats launched yesterday at Boon Keng are the talk of the town.
Styled to look like private condominiums, the flats in City View @ Boon Keng will boast timber flooring and large bay windows, as well as built-in wardrobes and kitchen cabinets.

These more luxurious HDB flats, built under the Design, Build and Sell Scheme, are being snapped up by homebuyers. Even before the project’s launch, more than 1,000 inquiries had been made. But these trappings come at a price: The 714 flats in the project will be offered for an average price of $520 per sq ft (psf).

While this makes them significantly cheaper than actual condos in the area, the prices are a cut above those for regular HDB flats. City View’s three-room flats will go for between $349,000 and $394,000 - about double what similar flats in the vicinity cost.

The five-room flats will range from $536,000 to $727,000, which also makes them far pricier than nearby flats. The average price of a five-room flat in Boon Keng is about $450,000, said Mr Nicholas Mak, the director of research and consultancy at Knight Frank.

As a result, even as would-be buyers form long queues for City View, property experts are divided as to whether the project is really worth its heftier price tag.

The main point of contention is what City View, and projects like it, should be compared to as a baseline: HDB flats, executive condos or private condos.

City View is only the second public housing project to be built by a private developer - in this case, Hoi Hup Sunway. The first, The Premiere @ Tampines, is being built by Sim Lian Land.

Property agents believe City View should be compared to condos. They highlight the premium finishings and central location, and the fact that the flats are much cheaper than condos in the area. ‘The furnishings, design and layout are comparable to those of private properties,’ said Mr Mohamed Ismail, the chief executive of property agency PropNex.

‘I think the price is worth it, especially if you’re talking about a three- or four-room flat for $300,000-plus in such a location.’

He noted that a three-room flat in the Rochor area that is over 30 years old can command $80,000 to $100,000 over valuation.

He added: ‘In eight years, City View will still be half the cost of private property and I’m very sure it will be able to find buyers. It will be a golden investment then.’

HSR Property Group, which is marketing City View, pointed to the strong demand for the project even before its launch.

‘The resale value will be there because consumers will pay for the convenience and rarity,’ said Ms Kellie Liew, a project director at HSR. ‘When you look at private condos, you can’t get this price.’

In contrast, property consultants said City View flats were more readily comparable to other types of HDB flats than to condos. They lack the security and amenities provided in condos and cannot be resold to foreigners, said Mr Ku Swee Yong, the director of marketing and business development at Savills Singapore.

‘The project is more expensive than HDB, but you still have HDB rules and HDB guidelines for ownership,’ said one consultant who asked not to be named. ‘The better location doesn’t justify the higher price tag - it’s supposed to be public housing!’ City View flats are sold under the same rules that apply to new HDB flats. Buyers qualify only if they fall under an approved family nucleus scheme, among other things.

Mr Mak noted that the flats cannot be resold for the first five years. ‘This sort of thing tends to be a consumer item - you buy, you use, and if you make money from it, you’re lucky,’ he said.

‘If you buy direct from HDB at a subsidised rate, it’s a better investment as there’s more room for capital appreciation. But if you buy the flat at a high price to begin with, the upside is limited.’

Even owners of executive condos - which have condo facilities and can be resold to foreigners after 10 years - are finding it difficult to make a profit on their homes, added Mr Mak.

Source : Straits Times  - 06 Jan 2008

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Mindy Yong

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He’s property agent to the Hong Kong stars

He’s property agent to the Hong Kong stars

Singaporean’s celebrity clients include Andy Lau and Jackie Chan. He brokered latter’s $11m purchase of Jinriksha Station last month

By Nur Dianah Suhaimi
PHOTOGRAPHS OF MR SIMON KWAN WITH CELEBRITIES adorn his office wall at International Plaza, as well as artefacts such as the Drunken Master statue of Jackie Chan on the right, a gift from the actor. Mr Kwan’s business dealings with his star clientele have blossomed into friendships.

MOVIE stars do it differently. After just 10 minutes of talking in a piano lounge in Taiwan, Jackie Chan agreed to buy an $8.8 million piece of property in Singapore.
Two days later, the cheque arrived at Mr Simon Kwan’s office in International Plaza here. This was in 1996 when Chan bought The 50s entertainment complex in Tanjong Pagar.

The Hong Kong movie star had not set eyes on his buy. Not even its floor plan.

That is how he usually buys places, said Mr Kwan, who has been handling the actor’s property deals here since 1994.

Jackie Chan’s latest acquisition is the three-storey former Jinriksha Station at 1 Neil Road last month, for which he paid $11 million.

While he has been on the ground floor of the former depot for rickshaw pullers, he has no clue what the upper two floors look like.

Mr Kwan said Chan likes small but beautifully designed buildings because they are like ‘pieces of art’.

Both the 105-year-old Jinriksha Station and the four-storey The 50s complex Chan bought are historic buildings within the Neil Road conservation area.

The movie star also owns a few condominium units in the Orchard Road area, including a three-bedroom unit in The Grangeford condo which will reap $3.4 million in a coming collective sale.

Last October, he opened a 1,500 sq ft cafe at 1 Nassim Road, called Jackie Chan’s Cafe, Coffee And Tea.

Mr Kwan was once an unknown player who joined his family’s small property business, Heng Fatt Properties. His fortunes changed when he was introduced to Chan at a New Year’s Day party in 1994 by the movie star’s manager at the now defunct Studebakers discotheque here.

Since then, he has been included on the social circuit of Hong Kong stars. doing business with the likes of Emil Chau and Andy Lau, as well as with the late Anita Mui and Teresa Teng.

The Hong Kongers have bought more than 10 properties (he says he cannot remember the exact number) from him, the biggest purchase being Chan’s $11 million Jinriksha Station.

Said Mr Kwan: ‘Hong Kong stars have always been interested in buying Singapore property. But they don’t know much about property. So they need someone here whom they can trust to handle their businesses.’

He gets the usual 1 per cent cut from each transaction, he said. During good times, his income can hit $1 million in a month.

Not only does he choose and buy properties for the stars, but he also calls the shots on how much rent the purchased properties should fetch and whether or not renovations are required. On their part, the stars send him their cheques.

He now manages 10 properties for them.

Said Mr Kwan: ‘I treat their properties as though they are my own. So I’m very careful when I make decisions for them.’

His business dealings with them have blossomed into friendship.

Twice, singer Emil Chau flew to Singapore specially to sing at The 50s pub gratis. Mr Kwan owns the pub, located within The 50s entertainment complex, and the space it occupies, which he leased from Chan.

And when Mr Kwan ran into some financial trouble in 2003, Chan waived a month’s rent of $30,000 owed to him.

Said Mr Kwan: ‘Before I knew them, they were my idols. Over the years, I realise that they are down-to-earth and humble people. Now, they have become my close friends.’

Source : Straits Times  - 06 Jan 2008

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Mindy Yong

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mindy@mindyyong.com

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9-year-old diagnosed with flu, but then dies suddenly

9-year-old diagnosed with flu, but then dies suddenly

By Nur Dianah Suhaimi
SAIFULLAH WAS FOUND gasping for breath by his dad shortly before he died.

WHEN nine-year-old Mohamad Saifullah Mohamad Saad came down with fever and diarrhoea on New Year’s Day, his parents and family doctor dismissed it as the common flu.
He was showing signs of recovery - the fever had subsided as had the diarrhoea.

But then the chubby Teck Whye Primary pupil died in the wee hours of Thursday morning.

Saifullah was a straight-A pupil and popular among his classmates and teachers, his parents said.

On the day he fell ill, Saifullah - the eldest of three sons - went shopping for a new pair of school shoes with his parents.

His mother, Madam Haslinda Halit, 31, said: ‘He had always been a healthy boy. Even when he was ill, he was very independent. So we never thought his illness was very serious.’

But on Wednesday, the first day of school, Saifullah stopped short at the school gates and asked to go home, complaining of severe headaches.

His parents took him to the family doctor who diagnosed him with fever and flu.

That night, Saifullah did not sleep, but walked around the family’s five-room flat restlessly.

At 5am the next day, his father, Mr Mohamad Saad Uradin, 38, found him gasping for breath in the bathroom. By the time the ambulance arrived, the boy was already lifeless.

Cardio-respiratory failure was listed as the cause of death. A post-mortem will be conducted to determine how he died.

Mr Mohamad Saad, a deliveryman, said: ‘We were so shocked. Until now, we don’t understand how he could have died.’

Some doctors say the boy’s weight could have played a part.

Standing at 1.5m and weighing 64kg, Saifullah fell under the ’severely overweight’ category in the health charts.

A general practitioner, who runs a clinic near Little India, said: ‘Additional weight results in additional stress on the heart muscles. This puts overweight children at greater risk of having heart problems.’

But Saifullah’s grandmother, Madam Leha Mahmud, 58, regrets not indulging her grandson more.

Three hours before he died, Saifullah had asked her for some money to buy ice-cream at a nearby 24-hour store.

Said a teary Madam Leha: ‘I told him ‘no’ because it was so late already. If only I had known it was his last request.’

Source : Straits Times  - 06 Jan 2008

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

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mindy@mindyyong.com

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Why similar offences can lead to different punishments - Singapore

Why similar offences can lead to different punishments - Singapore

THE Attorney-General went at length yesterday to explain how different people committing a similar offence might end up having very different punishments.
The issue became a concern recently after a string of letters from the public to the media questioning how one offender could be jailed while another was just fined for what appeared to be similar offences.

Taking the example of a motorist causing the death of a pedestrian, A-G Chao Hick Tin pointed out that even for a similar act, the charges brought against the culprits could be different.

‘Much will depend on the facts,’ he said. For example, the charge could either be committing a negligent act or a rash act and each will attract different punishments.

Even if the charges were similar, the circumstances of each case will always be different. ‘This could, in turn, affect the degree of culpability and the sentence that should be imposed.’

Other important factors include the number of charges involved; past criminal records and mitigating factors.

He stressed that sentencing is not an ‘exact science’. ‘It is a question of judgment and, in turn, perception and experience. The law entrusts the court with this discretion.’

The A-G noted that while the penalties for some offences have been increased after the recent review of the Penal Code, it does not mean that punishments will similarly go up.

‘I assure the public that the prosecution will not automatically press for higher sentences merely because the maximum penalties have been increased.

‘We will, however, not hesitate to do so in a case where the aggravating circumstances, and harm caused, call for a deterrent sentence,’ he said.
Chong Chee Kin

Source : Straits Times  - 06 Jan 2008

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

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mindy@mindyyong.com

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It may be due to perceptions of system: Law Society head - Singapore

It may be due to perceptions of system: Law Society head - Singapore
NEW LAW SOCIETY PRESIDENT MICHAEL HWANG also addressed issues such as continuing legal education and changes in criminal procedures. — ST PHOTOS: NG SOR LUAN

LAWYERS shun criminal work probably because of the perception that the justice system is weighted against them, the new Law Society president said.
In his maiden speech, Senior Counsel Michael Hwang addressed issues such as continuing legal education and changes in criminal procedure.

Much of his speech focused on the report by a committee, headed by Justice V. K. Rajah, which released its recommendations recently on how to develop Singapore’s legal services.

Among the topics the report touched on was the shortage of criminal and civil litigation lawyers.

Mr Hwang noted that in the report, it was observed that young lawyers are not attracted to criminal work because this area of practice is not financially rewarding.

This is not necessarily true, he said, pointing to several eminent criminal lawyers.

‘What may be more disillusioning for our criminal practitioners is the perception that the basic structure of criminal procedure is unnecessarily weighted in favour of the prosecution and does not give adequate consideration to the rights of defendants.’

He raised two areas of concern: the way police record statements and the lack of discovery in criminal proceedings.

Discovery is the pre-trial phase where each side can compel the other to furnish documents and other relevant information.

Mr Hwang suggested that some legal framework, or at least a protocol, be put in place for these two areas.

As for the lack of civil litigators, it was not only because the financial rewards lag behind those of lawyers who do corporate, banking and finance work.

He cited other causes - namely stress, stringent time deadlines, unreasonable demands of clients, belligerent opponents and difficulties in coping with judges’ expectations.

Mr Hwang also gave his take on the liberalisation moves: ‘Care must be taken not to hollow out Singapore law firms of their best corporate and finance lawyers to higher-paying foreign firms simply for the sake of encouraging foreign law firms to set up in Singapore.

‘The interests of Singapore are not necessarily served by Singapore lawyers working in foreign law firms charging higher fees for the same work.’
Selina Lum

Source : Straits Times  - 06 Jan 2008

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

Use independent body? Lawyers back idea but raise concerns -Singapore

Use independent body? Lawyers back idea but raise concerns -Singapore

By Selina Lum

LAWYERS gave the thumbs up to the news that the Chief Justice is considering a scheme to bar lawyers from receiving money from their clients.
But they also say that such a scheme, which would possibly entail the money being parked with an independent body, may lead to an increase in time and costs incurred for those buying and selling property.

This raises the question: Will clients be willing to pay administrative fees and experience bureaucratic delays in order to protect their money from the one or two bad apples in the barrel?

Sole proprietor Vijay Kumar said he was in favour of the money being held by an independent body. ‘There have been all these changes - tightening the rules, having more signatories - but the problem has never gone away.’

Mr Rajan Menon, senior partner at law firm KhattarWong, is also all for protecting clients’ money. ‘We must develop a system where the client is fully protected, so that no errant lawyer will have the chance to help himself to the money,’ he said.

Lawyers point out that a similar stakeholding scheme is already in place.

Buyers of buildings under construction have to park 5 per cent of the purchase price with the Singapore Academy of Law.

The money is released to the developer only after the 12-month defects liability period.

Mr Mark Chua, conveyancing partner at Tito Isaac & Co, said it may make legal sense for the academy to hold the money. But from an economic standpoint, this may not be perfect.

He said that legal clients have to realise that efficiency may be compromised. There will be many procedures to undertake and more forms will have to be filled.

While lawyers can act to release the money almost immediately, an independent body may need some lead time.

Mr Chua pointed out that if the cheques came in late - something which would then result in late completion - there would be a question of who would have to bear the penalty.

It remains to be seen how such a system will work out.

He said: ‘In theory, it’s a good thing.’

Mr Menon believed that the money should be kept in banks and administered by the Law Society, a kind of conveyancing transaction settlement system.

He acknowledged that this may increase costs, which would be needed to fund the running of such a system. Nevertheless, he said it would also be possible that the interest earned could offset the costs.

‘Who’s going to pay? Because of the misdemeanours of one or two lawyers, are we going to change the system of more than 100 years?

‘There are no easy answers,’ he said.

Whatever the scheme, it will have to be studied very carefully, said Mr Vijay, in order to ensure that it does not create a new set of problems.

Mr Chua said: ‘At the end of the day, you can put in as many systems as you want. If a person is determined to take the money, he will find a way of doing it.’

Source : Straits Times  - 06 Jan 2008

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

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mindy@mindyyong.com

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1,100 apply for Singapore condo-like HDB flats on Day 1

1,100 apply for Singapore condo-like HDB flats on Day 1

8,000 pack Boon Keng showflat; the 714 units will be sold only via online ballot

By Tan Hui Yee, HOUSING CORRESPONDENT
MEMBERS OF THE PUBLIC queuing up to view the City View @ Boon Keng showflat. Some turned up as early as an hour before the 9am opening time. — PHOTOS: JOSEPH NAIR FOR THE SUNDAY TIMES

ABOUT 1,100 people had applied for 714 condominium-like flats in Boon Keng by 6pm yesterday on Day One of the application period.
Around 8,000 people packed the showflat, with some showing up as early as an hour before the 9am opening time. And this in spite of it not making a difference to their chances of getting a unit as the flats will be sold through an online ballot.

The development, called the City View @ Boon Keng, is the second public housing project to be built and sold by private developers.

The units cost between $349,000 and $727,000 and will come with built-in wardrobes, timber flooring, wall-to-wall balconies and air-conditioning. But they do not have more expensive common facilities such as swimming pools.

First in line for viewing was Mr Xue Xiao Dong, 40, who turned up with his wife and son at the showflat at 8am - one hour before it opened.

The engineer had applied for a standard Housing Board flat in Telok Blangah last year but was unsuccessful.
He said: ‘I know it’s a ballot. But still, I hope that if I come early, I will stand a higher chance.’

Home-seeker Mr V.S. Nathan, 37, came prepared with the necessary documents to apply for a flat on the spot.

‘It seems nice,’ said the manager of a trading company. ‘My initial budget was about $500,000 for a five-room flat, but I may have to buy a four-room flat now.’

The project, which comprises 72 three-room flats, 168 four-room flats and 474 five-room flats, can be bought only by families earning no more than $8,000 a month.

Given that the first lot of such units in Tampines - 616 units developed by Sim Lian Land - attracted almost 6,000 applications in October 2006, the Boon Keng flats were expected to be hot property from the start.

Developer Hoi Hup Sunway and its marketing agent HSR were prepared for the crowd: A large white marquee with seating for 300 acted as the holding area for potential buyers outside the showflat, while families and individuals who entered the showflat were guided by agents.

The spokesman for Hoi Hup Sunway, Mr Wong Chee Herng, said buyers felt the prices were high but liked the flats anyway.

‘We didn’t foresee that so many applications would come in so soon,’ he said.

The results did not surprise property agency chiefs such as Mr Eugene Lim, assistant vice-president of ERA Singapore, who said the project’s proximity to Boon Keng MRT station, the ‘commanding views’ from its 40-storey blocks and its location on the city fringe added up to an attractive product.

Another 2,500 such condo-like flats are being planned for Ang Mo Kio, Bishan, Toa Payoh, Simei and Bedok in the coming months.

Applications for the Boon Keng flats can be made only online at www.hoihup.com and close on Jan 16.
Source : Straits Times  - 06 Jan 2008

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

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mindy@mindyyong.com

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CJ considers stricter rules for lawyers in Singapore

CJ considers stricter rules for lawyers  in Singapore

By Selina Lum

TIGHTER rules have already been put in place, but it seems there are still ways for a lawyer to make off with clients’ money.
Now, the Chief Justice is wondering if lawyers should be barred from holding clients’ money altogether.

He has appointed Judge of Appeal V. K. Rajah to head a committee to study whether such a system is feasible and desirable.

CJ Chan Sek Keong made the announcement at the opening of the legal year yesterday, attended by judges, lawyers, legal officers and other members of the legal community.

Six new Senior Counsel were appointed at the ceremony, and new Law Society president Michael Hwang made his debut speech.

As is customary, the CJ gave a report card of the work of the courts in the past year and announced new initiatives, such as a website for lawyers to keep up to date with legal developments.

Without naming names, CJ Chan referred to the case of rogue lawyer Zulkifli Amin, who went missing in November. He apparently skipped town for the Philippines after siphoning some $6 million of his clients’ money.

Last year, the Law Society tightened the Solicitors’ Accounts Rules, which govern how lawyers handle clients’ money, as a better check against embezzlement.

This change followed from at least eight cases where lawyers ran off with millions. One of them, David Rasif, swiped $12 million and is now missing.

‘But the latest incident shows that these measures cannot prevent desperate or crooked lawyers from helping themselves to clients’ monies,’ the CJ said.

Mr Zulkifli is the first errant lawyer since the new rules came into force to protect clients’ money. Among the rules: two signatures are needed to withdraw sums higher than $30,000.

Investigations are ongoing, but according to sources, Mr Zulkifli may have forged the second signature or perpetuated some fraud.

Yesterday, CJ Chan said: ‘We need to face reality and come up with a workable scheme to protect clients’ monies.’

While the obvious solution was to prohibit lawyers from receiving clients’ money, this would ‘change radically a conveyancing system which has been in place for more than a hundred years’, he acknowledged.

It may also affect the efficiency of the property market, a concern lawyers interviewed also raised.

Justice Rajah’s working party, which will comprise representatives of all stakeholders in the property market, will study the ramifications of such a change, he said.

It has been given three to five months to study the problem and make its recommendations.

Lawyers interviewed yesterday were in favour of such a system, saying it will probably involve an independent body holding or administering the money.

Speaking to reporters, Senior Counsel Hwang said he did not think the Chief Justice is thinking about a total ban because there have not been any problems with lawyers who hold clients’ money in non-property transactions.

‘You can’t abolish this thing overnight. If we abolish the holding of clients’ money, we will probably be the only country in the common law world to do so,’ he said.

‘Whatever system you have, you can’t stop outright, deliberate, malicious embezzlement. All you can do is try and make it more difficult.’
Source : Straits Times  - 06 Jan 2008

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

Turquoise @ Sentosa Cove - Singapore District 04 - Singapore Property

Turquoise @ Sentosa Cove - Singapore District 04 - Singapore Property

Fronted by the charming waterway and neighbour to an acclaimed golf course, Turquoise offers you pleasures like no other. Take to the ocean on a whim; it’s a breeze when your yacht is docked at your own private berth. Embraced by both the sea and golfing green, Turquoise offers views of unparalleled tranquillity all around. Take your pick of 91
exclusive apartments, each served by a private lift. Spread over two low-rise blocks of six storeys each, the wide selection of three and four bedroom apartments as well as Penthouses and uber-luxurious Sky villas is sure to meet your demanding tastes. 21 private berths within the development ensure that you have all you need for true waterfront living.

The buildings are conceived beyond essential function, to be highly recognizable in mind. The architecture is responsive to the nautical context, combining a clean expression with distinctive maritime roof forms and balconies that lend an aura of prestige. The simplistic and dynamic architecture form an elegant exterior. It is a pure modern expression and a visually arresting landmark. Turquoise will play an important part to the skyline of the SentosaCove.

Location: Cove Drive, Sentosa Cove
Tenure: 99 year leasehold
Expected Completion: 31 Dec 2010
Total Units: 91

Unit Types:
3br ~ 2088-2573 sqft
4br ~ 2400-3035 sqft
Penthouse ~ 3111-3746 sqft
Sky Villas ~ 6900, 6964, 7987 sqft

Facilities:
Entrance water feature & driveway
Clubhouse
Gymnasium
Reflective pool
Entertainment deck
Leisure pool & pool decks
Sanctuary pavilion
Spa seats
Wading pool
Cabana & BBQ deck
Waterfront promenade
Garden walk
Guard house
21 private berths

Needless to say, Turquoise features full condominium facilities including a function room, swimming pool with integrated spa pools, BBQ pavilions, landscaped gardens and a gymnasium.

Step inside and you will find an unstinting attention to detail. Designer sanitary wares from the premier Laufen Alessi Collection by Stefano Giovannoni and Axor Starck fittings by Philippe Starck which elevate the bathroom from the merely functional to an elegant oasis of relaxation. Similarly in the kitchen, expect only the finest appliances from Miele to inspire your next culinary masterpiece.

Step just beyond the island for more at VivoCity, Singapore’s largest retail, entertainment and lifestyle destination; while the Orchard Road shopping belt is a mere 10-minute drive away, as is the Central Business District. Truly at Turquoise, accessibility and exclusivity go hand in hand.

Sentosa Cove

Unrivalled in location, quality and prestige, Sentosa Cove is the epitome of waterfront living. With its unique integrated waterfront resort concept that blends residential, commercial and marina facilities, it is not only Singapore’s most desirable address - but one of the world’s most exclusive residential enclaves.

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@hotvictory.com ( email me )

http://www.hotvictory.com

Singapore Horizon Towers saga revived as opposing owners appeal against sale order

Singapore Horizon Towers saga revived as opposing owners appeal against sale order

By Loh Chee Kong,
SINGAPORE: Just when some prayed it was all over, the owners of Horizon Towers could be in for more sleepless nights — exactly a month after the Strata Titles Board granted the sale order for the contentious $500-million deal.

That decision would have brought a closure to the long-running saga, but for unhappiness among minority owners with the ruling.

On Thursday and Friday, these dissenting owners filed appeals against the board’s decision, just meeting the one-month deadline to do so.

Lawyers representing all three groups of minority owners, who had contested the deal, told TODAY they had submitted the originating summons to the High Court. But they were tight-lipped about what the grounds of appeal were, as they were preparing the affidavits which have to be submitted in a week’s time.

TODAY understands, however, that some minority owners were still sore over the price of the deal and what they alleged was a breach of duties on the sale committee’s part in not securing a better deal.

Sale committee chairman Lim Seng Hoo did not relish news of the appeal. “We were unsure if the minority owners would appeal, so we didn’t expect it. But we felt we would cross the bridge when we got there,” he said.

On the prospect of another protracted legal tussle, Mr Lim said: “Litigation is not something anyone is pleased to be involved in but unfortunately, this seems to be the trend for en bloc sales in Singapore.”

The lawyers for consortium Horizon Partners Pte Limited (HPPL), which is buying over the site, declined comment as they had not been served the legal papers.

The en bloc process for Horizon Towers began in May 2006 when a sale committee was formed to collect signatures for the Collective Sale Agreement.

A deal was sealed eight months later but since then, has been fraught with controversies. Some majority owners tried to back out of the sale, after witnessing how neighbouring properties such as Grangeford revised their reserve price upwards to reflect the booming property market.

At the height of the wrangle last year, the majority owners managed to stave off a $1-billion lawsuit HPPL had brought against them for loss of profits, when they successfully appealed against the board’s original decision in August to throw out the deal over technical irregularities.

Back then, the High Court overruled the board and sent the case back to it, which culminated in the approval of the sale order.

TODAY understands that the minority owners would have to apply for a court injunction to halt the sale which, as things stand, should be completed by the first week of March.

And it remains to be seen if HPPL will revive its lawsuit against the majority owners — it will be withdrawn only upon the completion of the sale.

Whatever the outcome of the latest appeal, the case can still be brought to the Court of Appeal, which will be the final avenue for the condominium’s owners, said lawyer Philip Fong.

Added Mr Fong, who represents some of the minority owners: “There must be a resolution at some point in time.”
Source : TODAY  - 06 Jan 2008

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com

Singapore City View @ Boon Keng sales launch attracts 8,000 visitors

Singapore City View @ Boon Keng sales launch attracts 8,000 visitors

SINGAPORE: Some 8,000 people were at the sales launch of City View @ Boon Keng, the second batch of condo-style public apartments under the HDB’s Design, Build and Sell Scheme.

And so far 1,100 people have applied to buy their dream homes in the 714-unit development, undeterred by the high average cost of $520 per square foot.

City View @ Boon Keng is located on the city fringes and is within walking distance of the Boon Keng MRT station.

At 40 storeys high, the development also promises a fantastic view of the city.

But some potential buyers are interested in the project’s location.

“Location wise, it’s good. This is near my mum’s house, within 2km, worth a try,” said a potential buyer.

“I’m used to living in this area. If I want to get a private condominium in this area, it’s very expensive. So I thought that I want to give it a shot here,” said another potential buyer.

But some find the price expensive. “It’s a bit too expensive. We’ll see how it works within our budget. Maybe, we can get a lower-floor unit,” said a visitor to the show flats.

The closing date for applications to buy the apartments is 16 January, and the results will be made known within six weeks. - CNA/ir

Source : Channel NewsAsia - 06 Jan 2008

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

http://www.hotvictory.com