Housing & Development Board (HDB) http://www.hdb.gov.sg/
Urban Redevelopment Authority (URA) http://www.ura.gov.sg/
Integrated Land Information Services http://www.inlis.gov.sg/layout/homepage.aspx
Housing & Infrastructure http://www.gov.sg/pol_hou.htm
Ministry of National Development (MND) http://www.mnd.gov.sg/
Land Transport Authority (LTA) http://www.lta.gov.sg/
Building and Construction Authority (BCA) http://www.bca.gov.sg/
Stamp Duty (IRAS) http://www.iras.gov.sg/esvportal/others/stamp/
Bankruptcy Search http://www.isis.gov.sg/
Registry of Companies & Businesses https://www.psi.gov.sg
BizNet https://www.biznet.com.sg
Foreign Immigration Status https://www.psi.gov.sg
Inland Revenue Authority of Singapore http://www.iras.gov.sg
Central Provident Fund Board (CPF Board) http://www.cpf.gov.sg
Resales Transaction (URA) http://www.ura.gov.sg
eService (IRAS) https://mytax.iras.gov.sg
Resales Transaction (HDB) http://www.hdb.gov.sg/bb33/ispm051p.nsf

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In order to cater to the increasing demand for rental flats from needy families, the HDB announced that it will build another 2000 rental flats, and convert existing flats into rental ones in order to raise the number of such flats to 50,000 in three years from the present 43,000.

Demand for rental flats has been on the rise with 5,970 applications in 2007.

Last month, the Government announced it would be introducing new rules on HDB rental flat eligibility in order to stamp out abuse of the system.

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With the US’s subprime issue not resolved, the Lehman Brothers fiasco, the US super huge bailout and news that our local private property prices have started to dip… what should we do then?

Ideally you want to sell high and buy low, but unless you are an investor, this is not always practical. However it does help to be aware of the economy because changes within local and international markets can affect property prices and the cost of living in general. For example, when the economy is doing well and interest rates are low, demand for property is generally high and this in turn pushes prices up. By the same token, when inflation is low, investors may be more attracted to the stock market that could also lower the demand in the property market. Industry successes and failures can also have a knock-on effect - the closure or retrenchment of the banks and staff could mean the loss of jobs and hence a dive in house prices.

As the sale of your property is likely to be the biggest transaction you may ever make, don’t sell in haste! If you feel under pressure to make a sale on your property, it is far more likely you will accept a price lower than the true value of your home. Do your homework and find out what similar houses in your area have sold for in recent months. It can be tempting to rush the sale of your property because you have found the house of your dreams, but selling on a whim or without knowing what’s involved could lose you thousands in your asking price or even give you headaches with your newly purchased property if you have not taken the time to check everything out.

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The robust demand for HDB new flats has caused its stock of unsold units to drop to 1,500 compared to 3,500 last year. Although no details were given, analysts believed that the demand was from first-time buyers.

To meet the growing need for new flats, HDB said that it will offer 8,400 new build-to-order (BTO) flats this year; a 40% increase from last year.

More flats from the BTO pipeline will be situated at Punggol and Sengkang. About 2,500 units are in Punggol, as part of HDB’s plan to build up a critical mass to support a thriving town centre. The other new flats will be spread across various towns including Yishun, Woodlands and Bukit Panjang.

Demand for resale flats also remained strong and an analyst said that the Resale price Index may jump by 5% in H2 2008.

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Orchard central which will only be completed in 6 months time, has been 50% leased, said its developer Far East Organisation.

Rents at the 250,000 sq ft mall range from $20 psf per month to $70 psf pm.

In July, Ion Orchard - a joint project by Singapore’s CapitaLand and Hong Kong’s Sun Hung Kai Properties, above Orchard MRT station - also said that it is 50 per cent leased. Tenants are paying base rent of up to $80 psf pm.

Both projects have been dogged by rumours of poor demand for space amid the current financial market turmoil.

The upcoming 313@Somerset - the third of only three new malls to come up on Orchard Road in more than a decade - has yet give any details on leasing or tenant mix. In May, Australian group Lend Lease Retail, which is developing the mall, said that it had started marketing to potential tenants six months earlier.

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Real Estate Developers Association of Singapore (Redas) president Simon Cheong is optimistic that private home prices are unlikely to drop much from current levels as selling prices are close to replacement costs, inclusive of construction costs. Furthermore, developers had a good year last year and thus a healthy war-chest for them to ride the current property slump.

But some analysts disagreed with him. Although big players may have the muscle to wait out the storm, there are some smaller players who may want to dispose of their projects even at low prices in order to generate cash-flow.

Nonetheless, Cheong remained slightly bullish about the long-term property prospect for Singapore saying that the country’s fundamentals are strong and events such as the F1 racing and the integrated resorts will further enhance Singapore’s reputation as a global city.

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In order to cater to the increasing demand for rental flats from needy families, the HDB announced that it will build another 2000 rental flats, and convert existing flats into rental ones in order to raise the number of such flats to 50,000 in three years from the present 43,000.

Demand for rental flats has been on the rise with 5,970 applications in 2007.

Last month, the Government announced it would be introducing new rules on HDB rental flat eligibility in order to stamp out abuse of the system.

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Due to increased demand, HDB announced that it will release 3,000 more flats for sale this year. Flat buyers bought 11,991 new flats in the year ended March 31, more than double the 5,712 recorded the year before.

The HDB’s unsold stock has dwindled from about 2,000 flats last year to some 1,500 now. Hopeful buyers have complained of difficulties and long waits in trying to secure a home.

HDB also gave the assurance that despite the rise in construction costs, HDB flats will remain affordable. The board buys materials in bulk to supply to its contractors, mitigating the increase in costs.

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With the US financial firms falling like dominoes, rental rates for prime office space in Singapore will be affected because financial firms form the biggest demand for such office.

Gains in Singapore office rents will be limited as global economic growth slows. Lehman, which this week filed the biggest Chapter 11 bankruptcy in history, occupies office space in Suntec Real Estate Investment Trust’s Suntec development. The firm has about 270 employees in Singapore.

And rentals may drop further with the coming on-stream of more office space with the completion of the 2.6 million sq ft Marina Bay Financial centre.

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A consortium led by Hoi Hup Realty has been awarded a Design, Build and Sell Scheme (DBSS) site at Lorong 1A Toa Payoh.

The winning bid of $198.82 million works out to about $160 per sq ft per plot ratio - the highest of three bids for the 103-year leasehold plot.

Analysts believed that the break even costs will be around $430-500 psf. However, the break even costs will be even lower if Hoi Hup succeeds in its formal application to the URA to secure provisional permission before 7 Oct 2008. After that date, bay windows and planter boxes will no longer be exempt from Gross Floor Area (GFA) calculations.

The group plans to build about 1,200 HDB flats on the site, of which about a third will be three and four-room flats and the rest five-room flats. And the project is expected to be launched in Q2 2009.

The average selling price is expected to be around $500psf.

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