DAILY NEWS

Daily News – 08th March 2019

Singapore Real Estate

Restrictions on use of CPF to buy older HDB flats to be relaxed by May
The government is looking into relaxing Central Provident Fund (CPF) loan rules on the purchase of older Housing and Development Board (HDB) resale flats, and will announce the changes soon for implementation in May this year. One issue is the restriction in CPF usage for flats with less than 60 years of lease remaining, National Development Minister Lawrence Wong said in parliament on Thursday.
https://www.businesstimes.com.sg/government-economy/singapore-budget-2019/restrictions-on-use-of-cpf-to-buy-older-hdb-flats-to-be
https://www.straitstimes.com/politics/mnd-unveils-three-new-moves-to-help-hdb-buyers
https://www.straitstimes.com/politics/lower-income-families-will-get-more-help-to-have-own-homes
https://www.straitstimes.com/business/changes-soon-to-cpf-loan-rules-on-buying-older-flats
https://www.channelnewsasia.com/news/singapore/hdb-bto-flats-balloting-to-be-released-earlier-upcoming-launch-11319658
https://www.channelnewsasia.com/news/singapore/cpf-tweak-relax-cpf-usage-rules-older-flats-hdb-may-11319692
https://www.channelnewsasia.com/news/singapore/step-up-cpf-grant-expanded-fresh-start-rental-flat-families-11316806
https://www.todayonline.com/singapore/tough-get-balance-right-when-pricing-hdb-flats-central-areas-lawrence-wong
https://www.todayonline.com/singapore/bto-sites-be-announced-6-months-advance-lawrence-wong
https://www.todayonline.com/singapore/new-cpf-rules-purchase-older-flats-kick-may

At least three new freehold projects on sale
Sales for at least three freehold projects are slated to begin on either Friday or during this weekend: Boulevard 88 in a traditional prime district, One Meyer next to the upcoming Katong Park MRT station and 1953 along Tessensohn Road. On Friday, a consortium comprising City Developments, Hong Leong Holdings and Lea Investments begins its soft launch (by appointment only) of Boulevard 88.
https://www.businesstimes.com.sg/real-estate/at-least-three-new-freehold-projects-on-sale

Goodluck Garden appeal dismissed, sale to go ahead
Goodluck Garden’s en bloc is still on after an appeal by some dissenting owners was dismissed by the Court of Appeal on Thursday, sources told The Business Times. This follows a lengthy dispute over the fate of the Toh Tuck Road condo, which Qingjian Realty bought for S$610 million in March 2018. Some owners had registered objections leading to the Strata Titles Boards (STB) to issue a stop order.
https://www.businesstimes.com.sg/real-estate/goodluck-garden-appeal-dismissed-sale-to-go-ahead

HDB resale transactions down in Feb, prices steady: SRX
Housing and Development Board (HDB) resale transactions resumed their downtrend in February amid the Chinese New Year lull, after January enjoyed the first month-on-month increase in sales since last July’s cooling measures. Last month, 1,313 HDB resale flats changed hands, 15.8 per cent fewer than in January, according to flash estimates from real estate portal SRX on Thursday.
https://www.businesstimes.com.sg/real-estate/hdb-resale-transactions-down-in-feb-prices-steady-srx
https://www.straitstimes.com/singapore/hdb-flat-resales-down-after-rise-in-jan

Plans to rejuvenate city centre, waterfront
Singaporeans can expect a rejuvenated city centre, with moves under way to encourage more mixed-use development in the Central Business District “so that there will be activities beyond office hours”. Giving an update on ongoing and future plans to transform the cityscape, National Development Minister Lawrence Wong said there will be a review of a scheme that has allowed eligible commercial buildings to maximise their use through bonus plot ratios.
https://www.straitstimes.com/politics/plans-to-rejuvenate-city-centre-waterfront

More ageing HDB flats to be chosen for upgrading in 2020
Ageing public housing towns will remain liveable as the Housing Board begins choosing a second batch of flats for upgrading works in 2020. These Home Improvement Programme (HIP) flats will come from among the 230,000 homes built between 1987 and 1997, Minister for National Development Lawrence Wong said yesterday.
https://www.straitstimes.com/singapore/more-ageing-hdb-flats-to-be-chosen-for-upgrading-in-2020

Companies’ Brief

A-Smart in JV to build mixed development in Timor-Leste
Mainboard-listed A-Smart Holdings on Thursday said it has inked a joint-venture (JV) agreement with a group of private investors to develop a 14 to 16-storey mixed development, comprising luxurious residential apartments, retail and office property units, in Timor-Leste.
https://www.businesstimes.com.sg/companies-markets/a-smart-in-jv-to-build-mixed-development-in-timor-leste

Global Switch launches Singapore Woodlands data centre
Leading operator and developer of carrier neutral data centres, Global Switch, launched its Singapore Woodlands data centre at a ceremony held yesterday. “Global Switch Woodlands marks our 12th world class data centre, and has increased our footprint to 4,000,000 square feet of technical space,” said John Corcoran, CEO of Global Switch.
https://www.businesstimes.com.sg/technology/global-switch-launches-singapore-woodlands-data-centre

Views, Reviews, Forum & Others

Making owning a home an achievable dream for more
In the last five years, the Build-To-Order backlog has been cleared, more singles have had a chance to buy a flat, and it has become slightly easier for divorcees and their children to get a roof over their heads. Now, the home ownership narrative for the vast majority is being expanded to include a group of people that, inadvertently or otherwise, seems to have fallen through the cracks: families in rental homes.
https://www.straitstimes.com/politics/making-owning-a-home-an-achievable-dream-for-more

Cycling routes to link Geylang and Queenstown to city
Cyclists and personal mobility device users in Geylang and Queenstown will be able to ride directly to the city, and up to six more towns could enjoy such links if the Land Transport Authority (LTA) finds them to be viable. Senior Minister of State for Transport Lam Pin Min announced yesterday that the Geylang-City and the Queenstown-City cycling routes will be completed next year.
https://www.straitstimes.com/singapore/transport/cycling-routes-to-link-geylang-and-queenstown-to-city