Month: November 2018

A new road extension to the Punggol Central road was opened for public use on November 25, 2018. The road opening ceremony was conducted in the presence of several persons of eminence. MPs for Pasir Ris-Punggol GRC, including Deputy Prime Minister Teo Chee Hean were among those attending the road opening. The extension was declared open in front of a large gathering. Nearly 400 enthusiastic Punggol residents graced the event.

The extension road is a part of a much bigger expansion project undertaken by the Land Transport Authority (LTA).  Estimated at $185 million, the project aims at lowering the traffic gridlocks and hold-ups that have become commonplace on the KPE-TPE intersection. The primary objective of the project is to improve the overall traveling experience on the roads leading outwards from the north-eastern town of Punggol.

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Recently, there was an event at The Ritz-Carlton Millenia, where Mr Lawrence Wong, Minister for National Development of SIngapore explained why the Government adopted the measures that became active in July, concerning the property market of Singapore. As Mr. Wong said, these cooling measures have the purpose to avoid bubbles on the market and keeping the prices stable at the same time. The property market should evolve according to the trend outlining income increases and follow certain economic fundamentals, this is why the Government will not accept a hands-off attitude when it comes to the real estate sector of Singapore.

The previously mentioned event took place with the occasion of the 59th anniversary of the Real Estate Developers’ Association of Singapore, celebrated with a festive dinner. It was also a very good opportunity for the participants to catch up with the latest news and consolidate their relationships. Of course, Mr. Wong, who represented the Singaporean Government at the event, wanted to let everybody know that the Government will continue to intervene in the property market of the country when and if needed, in order to maintain stability in the property cycle. Thus, no one should be caught by surprise if the authorities will launch measures or decide to make certain adjustments.

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In one word no, you do not need a property agent to sell your HDB property, but whether or not you should use one is a completely different matter. The answer to that depends mainly on your own situation, your experience, how comfortable you are in doing the work that would otherwise be carried out by an property agent, and how eager you are for a quick sale. Here we look what you need to consider before attempting to sell your HDB flat yourself.

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New condo development, Parc Esta was recently having its balloting preview on 17th November 2018, last Saturday. Its developer, MCL land released a total of 450 residential units for sales at the event. And out of the 450 units, 329 units were sold on that day.

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People that are connected to the real estate world will be happy to know that a fully digitized sales booking platform has been launched recently. It is designed with a motive to save unlimited sheets of paper that are otherwise wasted by property agents and developers to finalize the deal.

Showsuite is an advanced system that works by combing few latest technologies; the list includes 3D technology virtual reality and many other innovations as well. It can help to digitalize all the information related to unsold units, new projects so that buyers and agents can get an instantupdate about any property they find interesting around.

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Last Saturday, on the 10th of November 2018, Oxley Holdings sold 110 units for their latest new launch condo development along South Buona Vista Road. This development, named Kent Ridge Hill Residences is a low-rise private development located within 10 minutes walk from the Pasir Panjang MRT station. Comprising 498 apartments which are 5 storeys high and 50 strata houses, this Kent Ridge Hill condo comprises units ranging from 1-bedroom to 5-bedroom.

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Compared with selling a flat, it is much easier, more straightforward and a lot less stressful buying your HDB flat on your own without the assistance of an agent. Like with everything, especially if you are doing it for the first time, it is essential that you go into the process fully prepared, and with as much information as possible.

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The fact that the government developed rehabilitation programs for older flats is no secret. Many people live in apartments that are already a few decades old, which were offered in leases for a period of 99 years. Once the lease period expires, the flats will return to the property of the government while their former owners move to new locations or are supported by the government to find new places. But, as it is known, the authorities in Singapore desire to modernize and update all of these old flats, with the help of the Voluntary Early Redevelopment Scheme. The scheme means that once a person ends up living in a flat that is 70 years old or older, it is possible to choose the Voluntary Early Redevelopment Scheme and tap into the modernization opportunities offered by the government.

As you may have noticed, this program is called a “Voluntary Scheme”. This is due to the fact that, according to the officials, the financial support offered in case someone opts for the scheme is not that generous. In other words, the authorities will help old HDB flats find other places to live until their flats are modernized, but the support probably won’t be as great as some would desire. Thus, the scheme is voluntary and only those that consider the conditions acceptable can unroll. So, if one chooses to find another place to live instead of opting for the modernization of an old flat, he or she has all the freedom and right to do so.

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