The rules concerning the Central Provident Fund will loosen up when it comes to older flats offered by the HDB

 

Ever since the month of August 2018, Mr Lawrence Wong, the National Development Minister of Singapore, said that solutions are being searched when it comes to the Central Provident Fund and the purchase of older apartments offered by the HDB for resale. The changes that are about to be made, concerning the loan rules of this fund, will become effective starting with the month of May 2019.

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Pasir Ris

The name of both the town and planning area, Pasir Ris is situated on the northern coast of Singapore’s East Region. As well as its coastline, the area also has the Serangoon River which forms its western boundary (with Punggol). Changi lies to the east, Sengkang to its southwest while Paya Lebar and Tampines are both on its southern border. Pasir Ris is a little over 15 square kilometres in area, and currently is home to approximately 140,000 residents.

 

Pasir Ris Town Centre
The future Pasir Ris Town Centre ( Photo Credit: HDB). Pasir Ris Town is currently under part of the ROH (Remaking our Heartland) Programme by HDB. Improved infrastructures and more greenery will be added to enhance the living environment of the town.

History

Though there is a school of thought that the town somehow derives its name from the Malay word for bolt rope – ris, accepted wisdom (understandably) is that it comes from the Malay phrase white sands, a feature of that stretch of the coastline.

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South Buona Vista

 

This area of Singapore is mostly known for its eponymous road. It is more than that however, with some of the most iconic and interesting places on the island right on its doorstep. It is also a great place for those with an interest in history. Located on the southern slopes of Kent Ridge park, it is easy to see how it got its name. Buona Vista is Italian for good view. That moniker may have been given to it before the Pasir Panjang Terminal was built, but it still holds true today.

 

South Buona Vista Road - 99 Bends
South Buona Vista Road (Photo Credit : NParks.gov.sg)

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Turning Sentosa to become a tourist attraction like Bali

City Developments Limited (CDL) which has made a name for itself in the real estate world as Singapore’s second-largest developer, has recently put forward a proposal that looks to redefine Singapore’s existing tourism industry.

 

Addressing the Government, executive chairman of CDL, Mr.Kwek Leng Beng requested that the enclave of Sentosa be marketed as a tourism must-visit. He suggests that the island of Sentosa, which is currently a property hub estimated at billions, be repositioned to reflect an image which is as important as Bali’s – the current tourism mecca of Singapore.

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New residential plot in Clementi Ave 1

A public tender has recently been released by Urban Redevelopment Authority (URA) of Singapore for a residential site located along Clementi Avenue 1. Located in a prime spot near the Clementi Stadium and minutes from the Clementi Swimming Complex, NUS High School of Mathematics and Science and Nan Hua High School and, the site is to be developed into a residential condominium project. This tender is to be of 99 years duration. The tender is approved into the Confirmed List for the 2019 Government Land Sales (first 6 months)  Programme.

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Changes in Development Charge In Singapore

The development charge (DC) rates in Singapore for the fiscal period of March 1 to August 31, 2019  were released recently by the Urban Redevelopment Authority (URA).These rates are revised biannually by the Ministry of National Development on March 1 and Sept 1 respectively. The new rates are determined on the basis of the recent sales and land value assessment carried out by the taxman’s Chief Valuer at the Inland Revenue Authority of Singapore (IRAS)across various land groups in the officially demarcated 118 geographical sectors of Singapore.

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Several condominiums projects got an unhoped lift from the future Cross Island MRT line

Effective transportation and meeting the demand for homes on the market are two of Singapore’s main concerns. Constant improvements are brought in these sectors so that the residents of this country can enjoy a better and more satisfying life. Connectivity between the island’s various districts is extremely important, as many people prefer living away from busy commercial centers. Considering that the MRT lines are among the most popular, the Cross Island MRT line that will soon be made is definitely going to change everybody’s life. What is more important is that several Singapore condominium projects will be unexpectedly lifted by this line. We are talking about those that will have the stations of this MRT line in their area of development.

 

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Pine Grove and Pea Centre’s reattempt for collective sales

The recent times have seen a spike in the real estate market of Singapore with two major properties displaying a rise in their reserve price bids. The said properties are namely the Pine Grove condominiums at Holland Road cluster and the commercial sum residential development site at 1 Sophia Road which houses the Peace Centre and the Peace Mansion.

 

On February 26, 2019, Pine Grove launched its condominiums in the market at a reserved selling price of $1.86 billion. In its current attempt to sell en block, Pine Grove has significantly raised the reserve price of the condominiums The earlier price of the property was set at $1.72 billion.

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2-Room Flexi Scheme by HDB

The Singapore Housing Development Board’s two-room flexi scheme is growing popular among the senior citizens of the country. The scheme, introduced in November 2015, allows Singapore citizen who are at least 55 years old to obtain a lease for a time range of 15 to 45 years. In addition, the flats under the said scheme come with features like grab bars on walls which make daily living conditions senior friendly.

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Singapore is aiming toward becoming a greener country

Singapore already started depositing efforts toward becoming more efficient from the point of view of the consumed energy. What does this mean? It means that some residential buildings are beginning to enjoy lower energy bills. For example, the Joo Chiat Complex enjoys a top-notch chiller system, which helped save approximately $250,000 or 1.2 million kWh when it comes to utilities. The good news that such improvements are not going to stop. One of the country’s goals is to reach an energy efficiency of 80% by the time it reaches 2020, which is great news.

 

If you go through the Central Business District, it is easy to notice an interesting structure, painted in red, at the top of the CapitaGreen building. The structure we are talking about, located above the 40th floor of the building, is actually a wind scoop. Its purpose is to take air from the outside, filtering and cooling it, and then introducing it into the buildings air conditioning system. Thus, the tall building is now capable to save energy with its cooling system while offering a pleasant environment to everybody located on the inside. Why is this necessary? Well, cooling systems are one of the main energy consumers in Singapore, eating anywhere between 40 to 50% out of the energy consumed by one single building. Paired with a double-skin layer on the building, which will keep the structure from accumulating heat, such wind scoops can help save a lot of energy that would otherwise be wasted on air cooling.

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Housing Market of Hongkong ranked least affordable

Hong Kong’s Housing market continues to be the most expensive for a record nine years in a row, reveal the annual survey conducted by Demographia, an urban planning policy consultancy. Demographia has been conducting this survey for the last 15 years with an aim to assist global economic planning. The survey seeks to highlight its core premise that smart planning can create successful cities wherein high demographic and economic growth can be achieved without abnormal housing inflation.

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Inflation in Singapore

In December 2018, Singapore’s overall inflation index rose to 0.5 per cent. The jump registered barely a month after the index had fallen to a six-month low of 0.3 per cent.

The rise in inflation rates occurred due to the inflation of prices for most services and retail goods. The country’s core inflation rose to 1.9 per cent in December. This was higher than the 1.7 per cent registered in November.

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Enbloc of Former Florence Regency

Located along Hougang avenue 2 in between the Kovan and Hougang Estate, the Florence regency was sold to Logan Property at a price of six-hundred and twenty nine million dollars towards the end of 2017. After topping up lease of the development to a 99 year tenure, the selling price of the entire land translates to $842 psf ppr (per square foot per plot ratio).

 

The reserved price of the development was set at six-hundred million dollars initially. Logan Property agreed to purchase the land at a much higher price. And each owner of the former Florence Regency will get to receive slightly above $1.8 million from the sales.

 

Florence Regency is a former HUDC and its plot area is approximately 386,000 square feet. Due to its huge land size, developer is able to build more than 1000 residential apartments within it.

 

Florence Regency will be launched in February 2019, and this project will be named as The Florence Residences. There will be 9 tower of 18 storeys and a total of 1410 residential apartments within The Florence Residences. One to Five bedroom choices will be available.

 

 

 

To find about more about the collective sales of Florence Regency, visit our link below,

https://www.straitstimes.com/business/property/florence-regency-closes-collective-sale-for-629m

Tampines

Located within the East Region of Singapore, with the Singapore Straits on its southern border, Changi and Pasir Ris to the east and north respectively and Bedok and Paya Lebar to its west, Tampines is the name of both the planning area and the residential new town. The town – at 2089 hectares – is both the third largest and third most populated new town on the island.

Artist's Impression of Tampines North from HDB
Artist’s Impression of Tampines North (Source : HDB)

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