Singaporeans first, not Singaporeans only

Posted on July 21, 2011 by Mindy Yong.
Categories: Property News - Todayonline.

Singaporeans first, not Singaporeans only

Higher education: Don’t close door to foreigners, says Tony Tan

by Tan Weizhen 04:45 AM Jul 20, 2011

SINGAPORE – Presidential hopeful Tony Tan – who is synonymous with the growth of the Republic’s university sector – has come out to make clear his stance on the universities’ recruitment of foreign students, which has been a subject of discussion as the Presidential race heats up.

Speaking at a Singapore Management University (SMU) lecture yesterday, Dr Tan said: “I have been asked more than once in recent weeks whether I favour a ‘Singaporeans first’ policy in higher education. I do.

“But ‘Singaporeans first’ is different from saying ‘Singaporeans only’. Singapore is an international city and it would be a grave mistake to close our doors.”

Dr Tan, who was a former Deputy Prime Minister, spent seven out of his 19 years in the Cabinet helming the education portfolio. He was also the Minister-in-charge of the university sector for more than two decades.

Dr Tan’s involvement in the higher education sector – in particular, his push for the globalisation of the universities – has been discussed online in various forums as well as on his Facebook page. One Facebook user, for instance, criticised Dr Tan’s “pro-foreign talent policy” which he instituted at the universities.

Dr Tan said yesterday: “I understand that some people believe that our higher education sector should only educate Singaporeans. In addition to the inherent problems of protectionism, closing our doors would limit the talented individuals who presently contribute much to Singapore.”

He added: “Closing our doors would also restrict our ability to engage in the kind of collaborative research that has put Singapore universities in the very top ranks of universities in the world.”

Dr Tan stressed that the country’s primary responsibility is to Singaporeans.

The Government should “continue to monitor carefully the proportion of foreign students in our educational institutions to ensure that the proportion matches the present and future needs of the country, and that Singaporeans are the main beneficiaries of our education policy”, he said.

In the 1980s, Dr Tan, who was the Education Minister then, had spoken out against the graduate mothers’ scheme, which gives priority to children of graduate mothers during school registration. The unpopular scheme was ultimately scrapped.

Speaking to reporters after the SMU event, Dr Tan explained his stance: “I looked at the reasons why it was launched, and I felt it was not fulfilling its purpose. It was disadvantaging unfairly certain segments of our children … that was why I decided to change course.”

On hindsight, Dr Tan said the decision to scrap the scheme was right. But he urged people to move on.

“The point is one looks at the issue when one has the authority to do something about it. The important thing is that when you have the authority, you should exercise it wisely.”

And whether or not he is elected as President, Dr Tan’s involvement with the education sector looks set to continue.

During the Q&A session after his lecture, Dr Tan – who chairs the International Academic Advisory Panel – was asked what the President can do for education in Singapore.

Dr Tan replied that the President can make an impact in schools through his patronage and interaction with principals, teachers and students.

He added: “While the President doesn’t have executive authority, through his influence, through the areas he concentrates on, through the causes he champions, he can make a great impact in the area of education.”

Source : TODAYonline – MediaCorp Press Ltd’s copyright

BTO launches to be combined

Posted on by Mindy Yong.
Categories: Property News - Todayonline.

BTO launches to be combined

by Ong Dai Lin 04:45 AM Jul 19, 2011

SINGAPORE – A day after sharing data which showed that larger Build-To-Order (BTO) launches would enhance the chances for applicants to select a unit, National Development Minister Khaw Boon Wan said yesterday the Government will hold back next month’s BTO launch and combine the units with the projects slated to come on stream in September.

The HDB has traditionally launched at least one BTO project each month.

But Mr Khaw noted: “Each time you release a few hundred units, everybody will rush for those few hundred units, and many will get disappointed for sure. That is why I will move away from a monthly launch, and do a combined launch.”

Pointing out that 3,556 BTO units were launched in seven locations last week, Mr Khaw added: “I do not think we would do any (BTO launch) in August. I am trying to combine with September to have a bigger launch … 4,000 units or even more … I think that will do a lot to calm the market and reduce disappointment.”

But this does not necessarily mean that BTO launches from now on will be bimonthly, said Mr Khaw. The determining factor of when to conduct the launches is having “a sufficient critical mass” of unit, he added.

Mr Khaw was speaking to reporters yesterday after a visit to the HDB Hub at Toa Payoh. The minister reiterated that the key to giving couples a higher chance to select a flat is to roll out a wider range of flats in more quantity. With bigger launches, Mr Khaw is confident that repeated applicants “will not have to suffer too long”.

While time is needed to address the housing demand, “at least the solutions are in sight, and you know it is a matter of time before the problem will be largely resolved”, said Mr Khaw, who added that he “can sleep a lot more better now”.

The prices of the BTO units launched last month were generally lower, compared to earlier launches. Prices for units launched this month started from S$137,000 for a three-room flat, S$217,000 for a four-room flat and S$274,000 for a five-room flat. In May’s launch of 4,000 new flats, the starting prices were S$166,000, S$264,000 and S$335,000 for the same flat types respectively.

But Mr Khaw rejected the suggestion that the prices have dropped as a consequence of him taking on the portfolio in May. Many factors are at play, including location, said Mr Khaw.

He added that prices for BTO flats have stabilised and he expects them to remain steady.

Mr Khaw said: “Prices are not increasing, but (they are) also not dropping sharply because there is no reason (for them) to drop sharply unless our cost actually drops or the market begins to drop. Hopefully, that would be reassuring to Singaporean buyers, young couples.”

SLP International head of research Nicholas Mak noted that Mr Khaw’s idea of combining the launches was an innovative solution. But he said he was unsure of its effectiveness, given that the overall BTO supply for the year remains unchanged at 25,000.

Still, Chesterton Suntec International research and consultancy director Colin Tan said combined launches will help to better gauge the demand, given that repeated applications for BTO projects would be reduced.

Source : TODAYonline – MediaCorp Press Ltd’s copyright

Private home sales slump in June

Posted on by Mindy Yong.
Categories: Property News - Todayonline.

Private home sales slump in June

by Linette Lim 04:45 AM Jul 16, 2011

SINGAPORE – New private home sales slumped in June, falling by 25 per cent from the previous month to 1,182 units despite an increase in the number of new launches in the month.

Data released yesterday by the Urban Redevelopment Authority (URA) showed that 1,614 units were launched last month, up from 1,215 in May.

Most analysts attribute the decline in sales to the seasonal effect of the June holidays as well as the Government’s moves to increase public housing supply. These factors, combined with the uncertainties in the external environment such as the euro zone and United States sovereign debt crises, appeared to have doused buying sentiment.

Of the private homes sold last month, 833 units were located in the suburban areas, compared with 227 units in the city fringe and 122 units in the central areas. Including Executive Condominiums (EC), the total sales volume would have been higher at 1,394.

Ms Chia Siew Chuin, director of research and advisory at Colliers International, noted that price increases had been moderating for seven consecutive quarters.

“So you can see that there is some resistance in buyers’ responses to continued price hikes. In view of the possible dampening effects on buying demand, we are likely to see prices moderate further or hold stable,” she added.

But while the number of transactions fell last month, some analyst expect full-year sales to be healthy.

Highlighting EC sales of about 200 units, Mr Liang Thow Ming, head of residential services at Credo Real Estate, said that by extrapolating the combined sales figure over a full year, “We’re still hitting in excess of 14,000 to 15,000 units this year”.

Chalking up the best sales last month was Woodhaven at Woodgrove Avenue, where 155 units were sold at a median price of S$981 per sq ft. The best selling EC was Belysa at Pasir Ris Drive 1, where 153 units were sold at a median price of S$700 psf.

Meanwhile, the most expensive property sold in June was at Le Nouvel Ardmore in Ardmore Park, where a unit was sold at S$4,362 psf.

Singapore’s private home prices rose 1.9 per cent in the second quarter, the smallest gain in two years, according to URA data on July 1.

“This is further evidence that the cooling measures are having an effect,” said property consultant SLP International executive director Nicholas Mak,. The fourth round of cooling measures – introduced in January – include seller stamp duties as high as 16 per cent and a loan-to-value limit of 60 per cent on second and subsequent mortgages.

“The cooling measures don’t take effect overnight, they take a couple of months to show effect,” he said.

WITH AGENCY REPORTS

Source : TODAYonline – MediaCorp Press Ltd’s copyright

Ritz-Carlton Residences offers bird’s eye view of BKK

Posted on by Mindy Yong.
Categories: Property News -Channel Newsasia.

Ritz-Carlton Residences offers bird’s eye view of BKK

SINGAPORE: PACE Development on Wednesday announced its Singapore roadshow for Thailand’s super luxury Ritz-Carlton Residences development.

The Thai residential property developer, which focuses exclusively on prime-location projects, said that strong interest from Singapore investors led them to stage the roadshow for the Ritz-Carlton Residences, Bangkok.

The Ritz-Carlton Residences, to be located in Bangkok’s central business district, will offer rare bird’s eye views of the city and Chaophraya River.

It will also be one of Bangkok’s most luxurious and prestigious buildings when completed in 2014.

CEO of PACE Developement, Sorapoj Techakraisri said that the Ritz-Carlton Residences will offer “world-class quality and service” in an “outstanding location”.

“Thailand is a sought after market for investors due to its strong economy, as well as an active real estate market and stable politics,” he added.

The roadshow, by appointment only, will be held at The Ritz-Carlton Hotel, Singapore from July 23 – 24, from 11am to 7pm.

- CNA/ck

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright