Exclusive Living In Singapore
On May 25th, the Land Transport Authority in Singapore made an announcement for extension of several plans, and one of the most popular projects in the list is the MRT network.
Note that, the new MRT stations at Sungei Kadut, Brickland and Northeast stations will be now attached to the North-South line and this project will be completed probably by mid-2030.
People in Singapore always had the opportunity to buy homes with the help of housing loans offered by HDB, plus the chance to use their Central Provident Fund or CPF for the same purposes. Well, starting with the beginning of May, this year, these rules will change. What does this mean? Is this good news or bad news? In fact, it would be better to say that the old rules will be updated, so that homebuyers enjoy a bigger degree of flexibility. Also, these updates could change the odds for homes that are getting older as time passes by.
The Singapore real estate developing market received a setback recently with two unfinished projects getting declared as indefinitely stalled. One of the projects is a freehold condo comprising of 70 apartments located at Laurel Tree which is in the Hillview Terrace estate. The other, a mixed development project which includes 96 apartment units and 17 commercial units in Joo Chiat, is known as the Sycamore Tree.
Both projects were being developed under Tan Hock Keng and were to receive temporary occupation permits by December 2016. However, construction has not moved ahead since the end of 2018 leading the controller of Housing at the Urban Redevelopment Authority (URA) to examine the funds of the said projects.
The Cross Island Line (CRL) which will become the eighth MRT line in Singapore was announced with much fanfare. There has been a lot said about what effects this will have on commuters, developers and property owners.
Here we tell you exactly what the CRL is, where it will go and what effect it will have on property prices on the island. Read more