Month: March 2019

The sustained trade slowdown experienced by the Chinese economy in the recent times leaves Singapore in an unguarded position with regard to the current economic flows.

Examining the trade turnovers of twenty-three economies within the Asia-Pacific region, a report published by Mody’s Investors Service on March 20, 2019, attempted to highlight how China’s current economy affected the rest of the continent. In particular, it tried to assess which countries stood to gain and which might lose out greatly owing to the changes in China’s present-day trade and investments

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2 Caravan Road and 21 Caravan Road, both freehold developments have been put up for sale. The sites are located on Lavender Street and are currently inviting public tenders. While the site at 2 Caravan Road is open for bidding at $47.4 million, 21 Cavan Road invites tender proposals starting at $12.6 million.

The land area of 2 Cavan Road is estimated to be about 20,100 square feet. Currently, the site has a building of mixed architecture. This building which was built in 1950, is part single-storeyed and part three-storeyed. It has served industrial and warehousing purposes. The conservation of this building in redevelopment plans will place the starting rate for development charges for this site at $18.9 million.

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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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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.

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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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.

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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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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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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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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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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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