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NEWS SNIPPETS
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Cockpit Hotel becomes
history |
2008
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Release of 3rd Quarter 2008 Public Housing Data |
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Resale transactions increased by about 4%,
from about 7,760 cases in 2nd Quarter 2008 to about 8,110 cases in 3rd
Quarter 2008 (see
Annex C)... |
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Subletting transactions fell slightly by
about 4% from about 4,120 cases in 2nd Quarter 2008 to about 3,960
cases in 3rd Quarter 2008 (see
Annex F). The total number of HDB flats approved for subletting
rose to about 21,400 units, compared to about 20,200 units in 2nd
Quarter 2008... |
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More..... |
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2007
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HDB releases public housing data for 3Qtr 2007 |
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HDB’s Resale Price Index (RPI) rose by 6.6%
in 3rd Quarter 2007 over the previous quarter, with price increases
across most flat types and towns. |
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The median Cash-Over-Valuation (COV) amount
among all resale transactions conducted in 3rd Quarter 2007 was $17,000
(see Annex C). Cases requiring COV constituted 80% of all resale
transactions in this quarter, with 20% of resale transactions done at or
below valuation... |
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More..... |
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Measures to help HDB retailers |
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Most older HDB shops were built with
electrical loads lower than current norms. Over time, the electrical
load requirements in shops have increased with the proliferation of
air-conditioning, more lighting and other electrical appliances. |
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Currently, the charges for electrical
upgrading for shop tenants and shop owners are $45 per amp and $85
per amp respectively. From 14 Nov 2007, electrical upgrading up to
1 phase 60 amp will be free for tenants while shop owners will pay
the revised charge of $45 per amp... |
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The lower charges/free upgrading will
benefit about 1,200 owners and 1,300 tenants of HDB shops with an
existing electrical supply of less than 1 phase 60 amps... |
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More..... |
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Road closures for ASEAN Summit meetings |
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Apart from the meetings held in
Shangri-La Hotel, there will be several other key events, which
the Leaders and delegates will attend as part of the official
programme. They include the following: |
a Gala Dinner at Raffles City
Convention Centre on Tuesday, 20 Nov 2007 .
b Reception at the Asian Civilisations Museum on Wednesday, 21 Nov
2007.
c Dinner at Istana on Wednesday, 21 Nov 2007... |
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As part of the security and traffic
arrangements, Police will deploy resources to conduct roadblocks and
security checks at and around all the event venues. |
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More..... |
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S$40 million infrastructure upgrade for Orchard Road |
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With the planned landscape and
infrastructural enhancements, Singapore’s premier shopping street will
have state of the art lighting highlighting its lush tree-lined
boulevard, new creative spaces for staging events and a more integrated
and engaging pedestrian mall... |
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Orchard Road's infrastructure works will be
carried out in phases to minimise disruption to businesses and the public, while
access points to buildings will be maintained at all times... |
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Works are expected to be completed by April
2009. |
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More..... |
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Five schools to pilot boarding programmes for students |
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Five schools will be piloting various models
of boarding programmes starting from 2008, to support the all-round
development of their students... |
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Anglo-Chinese School
(Independent) Year 1 – Year 4 Integrated
Programme (IP) students will board together to forge bonds across
levels, through activities such as inter-hall games. Each IP student
will board for at least two semesters in total. |
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Hwa Chong Institution
Sec 3, Sec 4, JC1 and JC2 students will have the opportunity to
board together on an optional basis, to forge bonds across levels.
Boarding will take place for one term (3 months)... |
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More..... |
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MAS issues revised property fund guidelines |
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The revised Guidelines are intended to
improve safeguards for investors and to provide greater clarity and
flexibility for commercial transactions... |
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MAS will amend the Securities and Futures
Act (SFA) to include REIT management as a regulated activity... |
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More..... |
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HDB introduces family season parking ticket from 1 Oct
2007 |
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The Family SPT is for HDB residents who
require SPT to two different car parks because of family arrangements... |
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For such residents, who have already bought
a regular SPT to park at their own residential car park, there is a need
for a second SPT to park at another car park for visiting their parents,
children, grandparents, siblings or their in-laws. |
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The Family SPT will be sold at 50% of the
regular SPT price applicable to the car park where the Family SPT is to
be purchased. |
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More..... |
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HDB
releases public housing data |
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"30% of all resale cases in 2nd Quarter
2007 were transacted at or below valuation, with an overall median
Cash-Over-Valuation (COV) of about $7,000... |
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"The number of resale transactions
increased by 38% from 6,300 cases in 1st Quarter 2007 to 8,700
cases in 2nd Quarter 2007 (see Annex D). |
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"This is indicative of a more active
HDB resale market, and the availability of more resale flats to
meet the location and flat type preferences of flat buyers..." |
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More..... |
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Iconic Hotel Phoenix closes on 1 August 2007 |
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"In line
with the major construction that is happening on our
neighbouring sites, the owners of Hotel Phoenix
Singapore will be discontinuing operations at the
Hotel on 1 August 2007 for a refurbishment. |
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"While we
are sad to do so after 35 years of operations, we
believe the refurbishment of Hotel Phoenix will add
value to the rejuvenation of Orchard Road and
contribute to the Government's vision of strengthening
Orchard Road's appeal as a major retail, commercial
and entertainment belt..." |
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More..... |
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Revision of Development Charge (DC) |
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"The DC was lowered from 70% to 50% in
1985 to avoid eroding the share of value enhancement
that accrued to developers in a declining market. |
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"With the current buoyant property
market, the converse is true. Thus, the Government has
decided to reinstate the DC to its original rate at
70%..." |
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More..... |
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Banks to adopt new guidelines on home loans |
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"These guidelines provide customers with
clear disclosures on the use of home loan board rates, the financial
indicator(s) against which these rates are benchmarked, and the basis
for the change in the rates over time... |
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"The new guidelines are applicable to
loans taking effect from 15 June 2007 and not to loans committed
before that..." |
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More..... |
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1st
Quarter 2007 Real Estate Statistics |
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"Overall prices of
private residential properties rose 4.8% in the 1st Quarter 2007,
compared with the 3.8% increase in the previous quarter |
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"Prices of non-landed properties rose 5.3%
in the 1st Quarter 2007, compared with the 4.3% increase in the previous
quarter. Prices of apartments rose 5.1% while those of condominiums rose
5.4%..." |
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More..... |
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Singaporeans can sign up for GST Credits from 15 May 2007 |
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"2.4 million Singaporeans will be eligible
for $650 million of GST Credits and Senior Citizens Bonus in 2007... |
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"Eligible Singaporeans will receive a
letter from the CPF Board by 15 May 2007 on how much GST
Credits/Senior Citizens’ Bonus they can receive and how to sign
up. |
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"From 15 May 2007, Singaporeans can
sign up at any DBS/POSB/UOB/OCBC ATM or through the GST Offset
Package website at
www.gstoffset.gov.sg. They need to do so by 25 June 2007 to
get the GST Credits/Senior Citizens’ Bonus if they would like to
receive these on 1 July 2007..." |
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More..... |
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HDB further relaxes policy on subletting of whole
flats |
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"With immediate effect, HDB will be
relaxing its policy on the subletting of whole flats through a
further reduction of the MOP and delinking it from the lessees’
HDB loan status. The revised MOP is: |
"5 years for owners of
subsidised flats, i.e. flats
purchased directly from HDB or from the open market with a CPF
Housing Grant; and
3 years for owners of non-subsidised flats, i.e.
flats purchased from the open market without a CPF Housing
Grant..." |
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More..... |
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2006
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Withdrawal of 1998 off-budget concession on stamp duty deferment
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Three years of free Wi-Fi for Singapore from 1 Dec 2006
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Map-based information service on land ownership
available online
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Rates for HDB rental flats to be pegged to household
income |
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"Starting from 1 Mar 07, HDB will align the
rental for its flats to the household income of the tenants. |
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"Tenants whose monthly income is $800 and
below will continue to pay the 1st-tier rent. Similarly, tenants who
rented their flats after 1 Oct 2003 and whose monthly income is between
$801 and $1500 will continue to pay the current 2nd-tier rent. |
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"However, tenants whose income has since
risen above these levels will be required to pay
higher rent based on their new income levels..." |
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More..... |
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3rd Quarter 2006 real estate statistics
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Flat buyers taking an HDB loan need HDB loan eligibility letter
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Key challenges facing public housing in Singapore |
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"Between now and 2030, the number of elderly
aged 65 years or older will increase dramatically, from 300,000 to
900,000. 1 in 5 Singaporeans will be aged 65 and above by 2030. |
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"We will need to provide a wide range of
housing options to meet the different financial needs and lifestyle
preferences of the elderly, from smaller HDB flats like studio
apartments, to private retirement housing with dedicated care
facilities..." |
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More..... |
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ICA raid in 2 HDB blocks nets 33 immigration offenders
2005
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Pay half-hourly rates for night parking at HDB/URA carparks -
Small Claims Tribunal to cover short-term residential tenancy agreements
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Recovery of the Property Market |
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"The property market recovery is not confined
to the private housing sector. All the other sectors of the property
market are recovering in tandem with the strong growth of our economy... |
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"In 2006, Singapore’s GDP is projected to
grow by another 3% to 5%. Robust growth in the manufacturing, tourism
and financial sectors, and the diversification of our economy into new
areas like the life sciences, education and health, are helping to drive
growth in our economy..." |
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More..... |
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Review of housing options for the elderly |
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"To encourage extended family living, HDB
will extend the $12,000 monthly income ceiling to extended families
buying resale HDB flats with the CPF Housing Grant. The revised policy
will apply with immediate effect... |
| "To facilitate the elderly to buy SAs, buyers
aged at least 55 years will now be able to use their CPF to buy SAs
after they have set aside at least the full cash component of their
Minimum Sum... |
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More..... |
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Private sector to build and sell HDB flats
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2nd Quarter 2005 Real Estate Statistics |
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