>> ASIAONE / BUSINESS / MY MONEY / PROPERTY / ARCHIVE 2008 Jan Feb March April May June July Aug Sept Oct Nov Dec 2007 Jan Feb March April May June July Aug Sept Oct Nov Dec Fusionopolis Phase 1 nearly sold out already The 120,000 sq m complex will be opened in October. En bloc sales bring out the worst in Singaporeans Beyond urban rejuvenation or boosting shareholder value for property developers, the en bloc phenomenon has ripped apart the moral fibres and harmony of our society. Is this a cost our society is willing to pay? New homes set to raise level of city centre buzz With office units in short supply, condos make a good option for investors: Analysts The incredible shrinking condo A TINY studio under construction near Farrer Park may well be the smallest private apartment to be built in Singapore. Tuan Sing seeks stake in Katong Mall The asset swap will involve 129 strata shop units at Katong Mall with an aggregate purchase consideration of about $63.1 million. New HDB flats priced too high Astounded by the high prices of the four- and five-room flats. JTC exploring waterfront shared facility Move to optimise use driven by scarce industrial waterfront land for marine, oil & gas sectors. Rental flats: HDB to weed out errant tenants It will conduct more checks to identify those who sublet subsidised flats illegally. 4 sites relaunched for collective sale at lower prices A property firm is defying market trends with a renewed bid to sell four housing sites en bloc. Indian firm to invest in Johor cybercity Sunil Mantri pumps US$100m into Bandar MSC Cyberport in Kulai. New projects boost HK's May home sales Sun Hung Kai Properties Ltd, the city's biggest developer by market value, sold a house in the Peak district for HK$285 million. Cost of SICC's fancy new clubhouse balloons Construction crunch bites hard; project may cost 50% more than estimated. Applications for HDB flats halved after new rules Despite this, experts say take-up rate likely to be high. Uncertainty over lease top-ups may affect sentiment Govt may approve shorter extensions or not top up leases. Sim Lian Land is top bidder for DBSS site at Simei Industry observers projected in April that the site could fetch between $49 million and $76 million, or $130 to $200 psf ppr. Developers turn landlords as property market stays quiet With projects held back, firms lease out units bought in collective sales. Reality check for 99-year lease top-up assumption Recent decisions show such extensions not a given as govt retains planning flexibility. Landmarks at risk? Modern buildings of Singapore as an emerging nation deserve closer look before they go under the wrecker's ball or replaced quietly. -ST Life in a self-contained township one-north aims to be a place where residents can work, live, learn and play seamlessly. Little choice but to offer less choice sites Developers fear oversupply; the govt must offer some sites but may not waste prime sites. Time-wasters steer clear of BTO projects HDB's two new projects still oversubscribed but at half the level seen before change of rules. Fickle flat buyers diverting HDB's time, resources Some of the applicants did not book a flat when their turn was due, resulting in many flats being left unsold at the end of the exercises. Makeover to turn Paya Lebar into commercial node Traditional Malay character to add unique flavour to area's development. Joo Chiat: From sleazy to trendy The bars and Vietnamese women have not deserted Joo Chiat Road, but new businesses have nonetheless sprouted to give the area a more upmarket feel. -ST New HDB flats still below market rates All new HDB flats are priced below their equivalent market prices. PM Lee highlights JTC's new focus and priority JTC's role evolving as competition from rapidly emerging economies intensifies. Stalemate over prices leads to lowest auction sales in 10 years Sales are likely to hit their lowest point in a decade. Desperately seeking help to get sister to sell mum's flat She made another request that we sell her the flat at $30,000 below the valuation price. Rules of the roost Life is not what's shown in decor magazines; why hang on to a dining table which I've never used? HDB launches 382 BTO flats for sale at Marsiling The flats at Straits Vista @ Marsiling comprise 50 three-room and 332 four-room units. -ST Road ahead for HDB: meeting diverse needs of S'pore's population The challenge for HDB is to find innovative ways to accommodate everyone in a comfortable way as S'pore's population grows. -ST JTC launches tender to develop hotel, retail shops Changi Business Park set to boast a hotel and retail outlets alongside the hubbub of enterprise. Viet market seen hurting S'pore firms Analysts say they may end up with unsold homes given slowing sales of late. Developers to unveil more modestly-priced condos Dakota slated for preview this month at under $1,000 psf average, lower than earlier indicated. Good investment deals in Thai market The resort towns of Phuket and Pattaya are the most popular locations outside Bangkok for foreign investors. China property market set to cool Developers face credit squeeze, falling sales and lower prices. 'Landlord' collects $8,250 rent and absconds He would pretend to rent out flat then collect deposits. Eerie, empty shells That's what four once-proud blocks of flats in Toa Payoh have become. Slated for en-bloc redevelopment, they have been deserted by residents. Sengkang West going for a makeover as recreation hub There will be new parks, restaurants by the river and water-sport activities by next year. HDB's challenge: low-cost housing, condo-like flats Board has to find ways to cater to the poor as well as those better-off, says Mah. 18th floor of Peninsula Plaza sold for $15m The six units are tenanted at about $4 psf, but rents in the building have risen to as much as $8 psf. HDB pricing policy limits impact of rising costs Board trying to contain cost by simplifying some projects. Tips on renting flat Thinking of renting a flat? Check out these tips to avoid being fooled by rental scams. Prices of some new properties coming down Move may signal end of months-long stand-off between buyers and sellers. HDB upgraders hold key to property market turnaround Squeezed out of private home market for some years, they see their share rise again. Home prices in mid to low tier expected to stay stable: CapitaLand Property giant CapitaLand expects prices of mid- to low-tier homes to remain largely stable this year despite signs of a weaker market. Garden in the sky is a thorn in neighbour's flesh Angry that his clothes are torn by thorns, neighbour trims plants without permission. Prime condo prices heading for long, gentle decline Cushman model shows subdued market until 2012 but firm argues it's still a good time to buy. Valuation the culprit in artificially inflating HDB flat prices ST reader: Realistic to expect the valuation of the same type of flat in the same block to have risen by 10 to 50 per cent over a short three-month period? Aussie properties offer lower prices, higher returns Values in major cities are set to double every seven to 10 years on average. Can't afford a second home? Try this instead A three-storey-high tree house, a two-storey-high wooden - check out S'poreans who have built alternate shelters. Tampines residential site up for tender Offer seen as acid test for property market after recent signs of upswing. Property tax raised twice in a year ST reader: Fair for the Govt to increase property tax twice within a year when many are struggling to make ends meet? Goodbye & goodluck 11-year resident has to move due to Seletar Airbase redevelopment. Family: We lost $290,000 over back lane When trying to sell house, owners surprised to find out Government acquired their land. Asia real estate lure US credit crisis has turned out to be an opportunity for the Asian property market. Penthouse with HK Victoria Harbour view sold for $39m Sale price makes it most expensive apartment per square foot in Asia. 4 Ascott projects opened this month The new properties will consolidate Ascott's position as the world's largest international serviced residence owner-operator. Phoenix Park draws 'arts village' bid But $165,000 bid way below top bid of $368,888. A place to dine, drink and rock The 5,000-seat entertainment centre to come up at one-north will be a world-class venue for big performances. 'Old money' props rise in luxury home sales Prices hold firm surprisingly; investment climate may have stabilised, analysts say Subletting illegally not right way to help Illegal subletting of these flats is an abuse of government subsidies meant to help such households. New private home sales up 55% Highest monthly figure so far this year follows softening of prices, surge in total units launched. URA plot facing Bedok Reservoir up for sale Fairly good response seen with modest bids ranging from $200-$300 ppr. Apartments above $10m still shine in dull market In the landed sector, demand for GCBs remains strong, says CBRE. HDB contributing to price spiral HDB defeats its own purpose of providing low-cost housing by adding to property inflation. Hot topic: Keeping our cities growing and green As more people move to cities, planners are pondering ways to keep economies growing while safeguarding the environment. -ST Cities going the eco-friendly route These countries recognise the importance of - and make the effort to - keep growing economically as well as environmentally. -ST Serious lessons on water get a splash of colour Water issues to be discussed at the inaugural Singapore International Water Week and the World Cities Summit. -ST The Green Oscars Here's to the cities who pioneer efforts to marry economic development with environmental sustainability, making their transport system or energy production more sustainable. -ST Going green: 10 Lifestyle Tips Go green and be environmentally friendly with these 10 easy lifestyle changes you can make. -ST Green urbanites Urban living does not have to be about valuing modern conveniences over environmental sustainability, as these green champions prove. -ST Prepared for water crisis? Singapore shows the way Despite having little renewable resources, Singapore innovates with its direct water re-use and sea water desalination programmes. -ST Water meet to get ideas to flow across divides Leaders from over 70 countries in town to discuss the water issue at the inaugural Singapore International Water Week. -ST Keeping cities alive In light of the environment's renewed significance, delegates around the world will be attending the World Cities Summit and International Water Week in Singapore next week. Buyers bidding up prices of shophouses While sales have slumped this year after a strong run, units costing over $5m are attracting strong demand. -ST Low demand, so fewer govt sites for sale Cut in sites up for outright sale due to slowdown in property market and lower demand trends. -ST Willing away flat depends on form of ownership Uncle wants to include flat in his will. Asia's real estate market remains optimistic: Grace Fu It can withstand the challenges posed by the current financial and economic uncertainties. -ST Sales of Dakota Residences encouraging 80 units sold over the weekend. -BT Is the easy property money outside Asia? In the property world, the momentum appears to be with Asia. But is the easy money to be made elsewhere? Singapore property market approaching peak: report Vacancy rates have fallen to levels not seen since 1993 and rents continue to climb slowly. -BT Subsales carve out bigger slice of home deals In some popular projects, average subsale prices slipped by up to 5% in the first five months. -BT Healthy weekend home sales as attractive pricing draws buyers Price levels set below those at nearby units launched recently or not yet completed. -ST Office rents to rise 10%: RREEF But no hike next year as new supply from key projects starts coming in. -BT New-concept JTC factory aims to save cost and space 'Practical' hoisting system to replace expensive cargo lifts. -BT Waterside homes win design nod Also in the pipeline for the resort: a championship golf course, equestrian and country club, five-star hotel and a marina complex for waterfront living. -BT SLA offers 8 infill sites for residential homes New homes in prime locations such as Holland Road, Siglap and East Coast food haunts. -ST Over 780,000 HDB households to get next tranche of utility rebates The rebates are given to help low and middle-income Singaporeans cope with the GST increase. -ST 55-year-old hotel to make way for MRT New 7th Storey Hotel closes end-2008. A cohesive nation, thanks to the HDB UN Deputy Sec-Gen praises its exemplary initiatives. -ST Applicants stand better chance in latest HDB sale This is due to new regulations on frivolous applications. -ST Woodleigh site draws six fairly low bids Top bid of $87.68 million well below expectations. -ST Property values updated to match market rates Annual values of properties need to be updated whenever they become out of line with prevailing market rentals. -ST Citi sees no oversupply of homes in next two years It estimates only 60% of the 30,000 units forecast will be completed, so fall in prices will be modest. -ST YTL's Sentosa villas to start from $12m each Sandy Island villas are being designed by Italian architect Claudio Silvestrin. -BT Industrial site at Ubi Ave 4 now available The Urban Redevelopment Authority has released an industrial site at Ubi Avenue 4 through the reserve list of the Government Land Sales Programme. -BT Gillman en bloc sale to proceed Judge says minority owners did not provide adequate reasons to stop sale. -BT Illegal storey in house: Buyers lose case Sellers had built extra storey, but the BCA had not issued any notice on the unauthorised addition at the time of sale. -ST Do away with HDB cash upfront payment The HDB says the 5 per cent policy was introduced 'to encourage prudence'. But how does making people pay 5 per cent in cash ensure they will buy within their means? -ST Brunei prince fights to keep Nassim mansion Worth at least $120m, it was used by the prince up to year 2000. -BT Office rents nearing peak as supply increases: Report Impact of US sub-prime crisis, Singapore's rising inflation and weaker growth curbing rentals. -ST Flight to quality may cool office rents in places Spiralling rentals almost ground to a halt in Q2 with more cautious economic climate. -BT 6th Design, Build and Sell site up for sale in Toa Payoh 30% of units built must be equivalent to 4-room or smaller HDB flats. HDB launches 2 new BTO projects in Punggol, Sengkang Both projects under the Build-To-Order (BTO) scheme. -ST URA puts up prime site at Ophir-Rochor Road for sale This new growth area is envisioned to become an exciting 24/7 mixed-use cluster. -ST What determines market value of property The transacted prices of comparable properties are generally the best evidence of the market value for standard properties like HDB flats. -ST Syariah-approved properties get boost A new Saudi-Singapore joint venture is looking to invest up to US$100 million (S$136.7 million) in syariah-complaint real estate in the Republic and in the region. -ST 'Mickey Mouse homes' snapped up near Little India Buyers like these small apartments as they are close to the city and they seem more affordable. -ST Huh? What are plot ratios? Learn about the how's and what's of plot ratios, and how to use the term. -ST