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Showing posts from April, 2008

Couple refuses to pay seller's agent fees

Tue, Apr 29, 2008
As published in The Straits Times

A COUPLE who bought a home and refused to pay the seller's agent the 1 per cent commission are being taken to court by a property company which is claiming a fee.

PropNex associate director Ricky Low Yong Sern, who is in his late 30s, is seeking about $4,000 in commission or a service fee, in a case that is likely to turn the spotlight on the issue of whether home buyers should pay a fee to sellers' agents, The Straits Times reported.

He was the exclusive agent handling the sale of a terrace house in Whampoa built over 30 years ago, which is classified as a Housing Board flat.

Marketing specialist Loh Yi Min, 29, and his wife, polytechnic lecturer Ariel Wee, 33, bought it for $400,000 in April last year. They acted on their own without engaging an agent.

In documents submitted to court, Mr Low claimed that he had a right to collect a commission as he had exclusive rights to market the property. He also claimed that he provided serv…

More attractive to buy home instead of renting

by Marcel Lee Pereira
29 April (Tuesday)
as published in My Paper
WITH interest rates sliding, now could be a good time to move out of that rental apartment and get your own home.Taking a home loan at a lower interest rate could translate into paying less than what you fork out in rent now, and getting the property under your name too, said consumer moneylender GE Money, which offers a range of consumer finance products such as personal and car loans, but not home loans.Speaking to my paper on responsible borrowing in a climate of low interest rates and a strong Singapore dollar, GE Money's chief marketing officer, Mr Alok Kumar, said: 'It does make sense to buy property now because interest rates are low.'If you haven't considered taking a housing loan, now is the time to consider that, because cash flow will make better sense today due to the lower interest rate and lower outflow.'This is an option because the Singapore Inter-bank Offered Rate (Sibor) is on a downwa…

For Sale - 4A in Punggol Central

For Sale

Beautiful 4A in Punggol Central

Rare! New listing! Just matured.

95sqm. High-floor.
Renovated. Nice and cozy.
3 bedrooms (No hacking done).
PR eligible. All races eligible.

Near LRT, Punggol Plaza, schools, church.
Lush landscaped gardens, covered carparks.

Call Jessica at 9858-0214 for viewing appointments now.

HDB to sell unsold flats on a less frequent basis

April 11, 2008
By Joyce Teo

NOT so long ago, unsold Housing Board flats were so plentiful that home buyers could simply walk in and buy a completed unit.

But with fast dwindling stocks, the HDB is streamlining the system for launching batches of unsold flats.

Starting July 1, it will hold fewer launches - but each launch will boast more flats.

It will sell three-room and smaller unsold flats once every three months, instead of once a month. And the bigger flats - three-room premium and above - will be sold half-yearly starting Oct 10, instead of every two months.

Property market observers say this will make life easier for urgent home buyers.

PropNex chief executive Mohamed Ismail said it will help unsuccessful buyers avoid the anxiety of having to re-apply for a dwindling pool of unsold flats every month or two.

An economic downturn in the late 1990s resulted in the excess stock of unsold flats.

'With the progressive clearance of these unsold flats, the number of ready-built flats availab…

Property market may stay quiet...

As published in The Straits Times
02 April 08 (Wednesday)

Proposed Interim Land Uses at Punggol East Road
Last Updated : 01 January 2008

HDB and private property prices up in Q1 flash estimates

Channelnewsasia: 01 April 2008
Private residential property prices in Singapore rose 4.2 percent in the first quarter this year, according to the latest preliminary estimates from the Urban Redevelopment Authority.

The pace was slower than the 6.8 percent clip recorded in the fourth quarter of last year.

On a quarter-on-quarter basis, the biggest rise in property prices for non-landed properties came from outside central region - up 4.8 percent in the January-March quarter compared with the October-December period.

Properties in the prime districts of 9, 10 and 11, as well as the downtown area and Sentosa, rose 4.4 percent on quarter.

Prices in the rest of the central region increased 3.9 percent in the first quarter from the previous three months.

The preliminary estimates were based on transaction prices given in caveats lodged during the first 10 weeks of the quarter, as well as the number of new units sold.

Meantime, the Housing and Development Board (HDB) said prices of HDB resale flats…

Punggol River set for big change

Source : The Straits Times (10 Mar 2008)
Work starts on $7.13m project to create reservoir park with man-made island by 2010. WORK to transform the Punggol River into a scenic reservoir park, complete with a man-made island, got off the ground yesterday.Prime Minister Lee Hsien Loong, who was at the official opening of the adjoining Anchorvale Community Club in Sengkang, symbolically released the first piece of the floating island - a clump of soil and grass - into the water.For its design, the $7.13 million project will draw inspiration from a nearby fruit park being developed by the National Parks Board. Its pavilions will be shaped like mangosteens and its benches, like limes.Work will be completed by 2010.Punggol River is the first of five sites to be improved this year under the Active, Beautiful, Clean (ABC) Waters programme.Launched by national water agency PUB in 2006, the $200 million programme is an ambitious island-wide revamp of 28 waterways.The aim is to rejuvenate Singapor…