DAILY NEWS

Daily News – 12th, 13th & 14th March 2016

Singapore Real Estate

Straits Trading unit eyeing property in Australia, Japan, S Korea, China
Straits Real Estate (SRE), the investment unit of The Straits Trading Company, is looking to deploy the remaining one-third of its dry powder in markets such as Australia, Japan, South Korea and China. Showing up on its radar are retail properties in China and a host of assets in Australia from traditional core real estate such as offices to operational assets such as student housing, healthcare and elder care facilities.
http://www.businesstimes.com.sg/real-estate/straits-trading-unit-eyeing-property-in-australia-japan-s-korea-china

Healthy demand for Cairnhill Nine and The Wisteria
Units at two residential developments were launched for sale over the weekend with both drawing healthy interest from buyers. Property group CapitaLand sold 134 of the 200 units released from its 268-unit Cairnhill Nine in Orchard, while buyers scooped up 116 of the 138 units at The Wisteria offered for sale by developer Northern Resi. The Wisteria is located at the junction of Yishun Ring Road and Yishun Avenue 4.
http://www.businesstimes.com.sg/real-estate/healthy-demand-for-cairnhill-nine-and-the-wisteria

New concepts at Downtown Gallery beckon
Property group OUE plans to introduce new concepts at its upcoming retail mall Downtown Gallery in OUE Downtown to make it more appealing to consumers and cater to emerging trends. Located at 6 Shenton Way, OUE Downtown (the former DBS Building) is being developed into a mixed-use project comprising offices, serviced apartments and retail space.
http://www.businesstimes.com.sg/real-estate/new-concepts-at-downtown-gallery-beckon

Raffles Medical’s new mall to open soon
Raffles Medical Group (RMG) will soon open its first property venture, but the hospital and clinic operator said it will remain focused on its core healthcare operations. The firm will receive the temporary occupation permit for the Raffles Holland V mall this month. The centre, which will have medical services as well as food and beverage and retail offerings, will be open for business by the middle of the year. The group expects a 6 to 7 per cent rental yield from the mall’s 40 commercial units.
http://www.straitstimes.com/business/companies-markets/raffles-medicals-new-mall-to-open-soon

Govt to ramp up lift inspections islandwide
http://www.straitstimes.com/singapore/housing/govt-to-ramp-up-lift-inspections-islandwide

Home owners still ready to pay for exclusive decor: Experts
http://www.straitstimes.com/singapore/home-owners-still-ready-to-pay-for-exclusive-decor-experts

Views, Reviews & Forum

Costliest city? People have different needs from expats
The Economist Intelligence Unit’s (EIU) latest survey has gone somewhat viral and generated a variety of different responses (“S’pore rated costliest for expats for 3rd year”; last Friday). Depending on what readers believe or choose to believe, the results of the survey can be interpreted accordingly to support their belief and agenda.
http://www.straitstimes.com/forum/letters-in-print/costliest-city-people-have-different-needs-from-expats

Unwinding property cooling measures now ‘could do more harm than good’
Any move made by the Government to tamper with the property cooling measures now could fuel speculation that further easing is on the way, and threatens to undo any price moderation the market has achieved so far by bringing back potential buyers who have been fishing for the bottom.
http://www.todayonline.com/business/why-it-not-time-yet-unwind-property-cooling-measures?singlepage=true

Why HDB flat owners are in no hurry to sell
Faced with a sluggish public resale market, fewer home owners are selling their flats once they become able to do so. Last year, 388 flats were resold within a year of meeting their five-year Minimum Occupation Period (MOP), the Housing Board told The Straits Times. This was 6 per cent of the 6,623 newly eligible flats, down from about 11 per cent in 2014.
http://www.straitstimes.com/singapore/housing/why-hdb-flat-owners-are-in-no-hurry-to-sell

‘Rare’ for HDB to allow flats to be sold early
Divorce seems to be among the top reasons home owners are allowed to sell their Housing Board flats before the five-year Minimum Occupation Period (MOP) is up, going by anecdotal evidence. Property agents told The Straits Times that the bulk of such special approvals are granted in divorce cases. Financial troubles, including hardship due to the death of a breadwinner, and sickness, like the need to move close to terminally ill family members, are other reasons that are cited for wanting to let go of flats early, said HDB.
http://www.straitstimes.com/singapore/housing/rare-for-hdb-to-allow-flats-to-be-sold-early

Selling home without engaging an agent
Reader Margaret Seet asked ST: “Can we sell our house on our own without appointing a housing agent? If yes, what are the things to look out for?” Housing reporter Janice Heng answers. The short answer is: Yes, you are legally allowed to do so, although it will involve a lot of paperwork. If you are a Housing Board flat owner, you should first check your eligibility to sell your unit. You must have lived in the flat for the Minimum Occupation Period.
http://www.straitstimes.com/singapore/environment/selling-home-without-engaging-an-agent