Month: May 2020

The Housing Board announced on April 24, 2020, that the launch of Build-To-Order flats in May is postponed until further notice from the board.

May was seemingly the month to open sales exercises for BTO housings in planning areas of Singapore that include areas such Tengah and Choa Chu Kang in west region of Singapore and Tampines and Pasir Ris in the eastern parts of Singapore. Besides that, approximately 160 assisted living HDB for the elderly in the Bukit Batok district were to be launched in May as well. This postponement of the launch schedule came after the circuit-breaker measures were extended to June 1 by Prime Minister Lee Hsien Loong.

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Coronavirus has been rapidly spreading for months now. Due to thorough lockdown, several countries are facing severe economic backlash. Singapore, being one of such places, is encountering the odds of salary reduction. For this reason, the expats of Singapore are compelled to ask for lower rents.

One of the real estate agents at APAC Realty unit ERA, Mr. Clarence Foo has reported as much as seven cases till date. He confirmed that in his entire career, this had been the highest number of requests for rent discounts.

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For decades, authorities have been trying to decrease the pressure off Central Business District (CBD) by doing efforts that can bring place of work closer to home and reducing commute time. The pandemic has brought odds to the fates of many industries; however, it has also brought a revolution in a matter of few weeks! The investment in technology infrastructure has enabled companies to rely on extended work from home during the lockdown situation. This has aided town developers in strategizing how to decentralize Central Business District (CBD).

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Due to the Covid-19 pandemic, the tender period of a 99-year leasehold Singapore condominium site in Yishun Avenue 9 was given a six months extension by the Housing Board in a Government land sale, that is till midday on Oct 29. The Yishun site is situated inside 500m of a new mall in the locality called Junction 9. The parcel has a floor area of 60,240 sq m and is spread across 21,514 sq m. Around 600 residential elements can be set up in this area.

According to ERA Realty head, Nicholas Mak, this was done to get a larger bid on the land. He said that the extension will lead to the tender closing in October by which time the coronavirus situation may get under control thereby improving the market conditions. GLS tenders are generally given six to eight weeks.

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The Housing Board has announced that, until further notification, the selling of the BTO flats has been postponed. This has come after the circuit breaker measure got prolonged till June 1 as all the work areas have been shut down and all construction has stopped. More than 3,700 Build-To-Order flats and 160 flats for senior citizens were to be initiated in Pasir Ris, Choa Chu Kang, Tampines, Tengah and Bukit Batok.

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The Singapore factory output strikes a 16.5% rise in March: impact of circuit breaker hit yet to be felt
Quite surprisingly, Singapore’s factory output witnessed a rebound in March 2020, as per the data put forward by the EDB (Economic Development Board) on 24th April. However, EDB has also made it quite clear that the manufacturing output in March was not quite affected by the novel coronavirus outbreak. April, on the other hand, will be experiencing the blow as a result of the circuit breaker measures put into force.

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