Ministry of National Development MND - Property Launches & Investments

Jurong Lake area to be new draw for developers

Posted by Property Launch Invest on Wednesday, 27 August 2014 in Property News

Developers are expected to take a keener interest in future state land tenders in Jurong Lake District - whether for residential, commercial or hotel projects.

The buzz created from efforts for greenery attractions in the area is expected to give a fillip to home values there.

Attention will be heightened further if a decision is made to house the future Kuala Lumpur-Singapore high-speed rail terminus in Jurong Gateway, said property consultants yesterday. They were giving their views on plans announced on Sunday night by Prime Minister Lee Hsien Loong to liven up Jurong Lake District.

Existing property owners can look forward to one of the most liveable housing estates in Singapore outside the central and fringe areas.

First phase of Jurong Lake Gardens to be ready by 2017:

Posted by Property Launch Invest on Tuesday, 19 August 2014 in Property News

The Jurong Lake Gardens will retain the heritage elements of the Chinese Garden and the Japanese Garden, but these will be refreshed as part of the overall development, says National Development Minister Khaw Boon Wan.

SINGAPORE: Residents in the city-state, particularly in Jurong, can look forward to enjoying the 70-hectare Jurong Lake Gardens "as early as 2017", said National Development Minister Khaw Boon Wan in a blogpost on Monday (Aug 18).

He wrote that heritage elements at the Chinese and Japanese Gardens will be retained, but refreshed as part of Jurong Lake Gardens. The Gardens will be developed in phases, with Jurong Lake Park being the first to be completed in 2017, and implementation plans will dovetail with the greater plans for Jurong Lake District.

Bedok residents to get healthcare and sports facilities under one roof

Posted by Property Launch Invest on Friday, 15 August 2014 in Property News

SINGAPORE: Come 2017, residents in Bedok can look forward to a one-stop centre that will house facilities for healthcare, community activities and sports. The new Bedok Integrated Complex will not just offer different facilities, but also integrated programmes for residents.

Too early to relax property cooling measures, says MND

Posted by Property Launch Invest on Thursday, 03 July 2014 in Property News

It is still too early to roll back property cooling measures, according to the Ministry of National Development (MND) yesterday.

It said that although home sales have decreased, prices have remained relatively stable.

The moves to rein in property prices included extra stamp duties to curb speculative buying and the total debt servicing ratio framework which was introduced a year ago.

MND noted that private home prices had surged 60 per cent during the most recent market upswing that began in mid-2009.

Push to speed up development as new sites released

Posted by Property Launch Invest on Friday, 13 June 2014 in Property News

Cautious approach to private housing adopted in land sales programme

[SINGAPORE] New sites rolled out yesterday stirred excitement in the market, even as the government adopted a cautious approach to private housing in the latest land sales programme for H2 2014 to account for the twin factors of oversupply and weaker demand.

The new sites were rolled out under both confirmed and reserve lists in the residential and commercial property sectors.

Government releases 23 land sites for sale

Posted by Property Launch Invest on Thursday, 12 June 2014 in Property News

SINGAPORE: The Government on Tuesday (June 10) announced the launch of nine confirmed list and 14 reserve list sites under the second half of the Government Land Sales (GLS) Programme.

These 23 sites can collectively yield up to 10,200 private residential units - including 1,500 Executive Condominium (EC) units - and 352,000 square metres (sq m) of gross floor area of commercial space, the Ministry of National Development (MND) said in a release.

List of Property cooling measures by URA/MAS.

Posted by Property Launch Invest on Sunday, 27 April 2014 in Property News

Here is the full list of the 8 recent property cooling measures.

Property Trends in Singapore for 2014 and beyond

Posted by Property Launch Invest on Sunday, 27 April 2014 in Property News

Suffice to say, the numerous property cooling regulations imposed by MND, URA, MAS, IRAS have done much to curb the speculative fever and more.

Background of Singapore's housing woes.

Woodlands hospital to showcase new ideas

Posted by Property Launch Invest on Tuesday, 22 April 2014 in Property News

Khaw wants integrated health care complex to be connected with homes and nature.

A new integrated health-care complex coming up in Woodlands promises to be like no hospital seen so far in Singapore. It includes an acute care hospital, community hospital and nursing home, will open in phases from 2022.

When completed, the development will provide some 1,800 beds.

The complex will be built on a 7.7ha site along Woodlands Avenue 12 and Woodlands Drive 17, opposite Christ Church Secondary. It will be within walking distance to the future Woodlands South MRT Station.

The plot of land which will be used to build the new Woodlands General Hospital, taken on Feb 15, 2014. A new integrated health-care complex, which includes an acute care hospital, community hospital and nursing home, will open in phases from 2022 in Woodlands. -- ST PHOTO: MARK CHEONG

There are no architect's designs or artist's impressions, but National Development Minister Khaw Boon Wan's brief for the planners is to break new ground, make it different and connect it with homes and nature.

Altogether, there will be up to 1,800 beds in a general hospital, community hospital and nursing home due to open in phases from 2022, he said at a community event yesterday at Woodlands Civic Centre.

Rise in development charges; commercial sector sees steepest rise

Posted by Property Launch Invest on Friday, 28 March 2014 in Property News

SINGAPORE: Development charges, which have to be paid when a property site is developed into more valuable project, have been raised for selected sectors.

The steepest increase is seen in the commercial sector.

In a statement on Friday, the Ministry of National Development said the development charge (DC) rates for commercial sector will climb by an average of 15 percent.

Singapore to launch 23 sites for sale in 1H2014: MND

Posted by Property Launch Invest on Thursday, 19 December 2013 in Property News

Singapore will be releasing eight confirmed list sites and 15 reserve list sites under its first-half 2014 government land sales (GLS) programme.

The Ministry of National Development (MND) said on Wednesday that these sites can yield up to 11,600 private homes.

These include 2,800 executive condominium (EC) units and 193,000 sqm gross floor area (GFA) of commercial space.

Govt cuts land sales under weight of supply

Posted by Property Launch Invest on Thursday, 19 December 2013 in Property News

For H1 2014, MND will launch through confirmed list eight sites that can generate 4,630 private homes

[SINGAPORE] The 4,630 private homes that can be generated from the confirmed list sites slated for launch by the government in H1 next year is not only down 22.3 per cent from the current H2 2013 slate but is also the lowest half-yearly quantum since H1 2010, when the figure was 2,925 units.

Across the board, the Ministry of National Development (MND) is scaling back the Government Land Sales (GLS) Programme for private housing, commercial and hotel sites for the first six months of 2014 to factor in the large supply pipeline. The move is seen as an attempt to engineer a soft landing.

More 2-room flats but fewer 3-, 4- and 5-room flats to be built

Posted by Property Launch Invest on Monday, 16 December 2013 in Property News

As the Housing Board tapers off its ramped-up supply of public housing from next year, it will build more 2-room flats and "a steady stream" of studio apartments, but will cut down the supply of 3-room, 4-room and 5-room flats.

Construction boom, but challenges loom

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

SINGAPORE - The construction boom shows no signs of ending any time soon, but a shortage of workers means projects may cost more and take longer to complete.

Experts say the strong construction demand is expected to continue with many big projects in the pipeline, including public housing and infrastructure works such as the MRT's Thomson Line.

While this is good news for the industry, contractors say they are struggling to cope with the manpower shortage.

Land supply should be at a pace that would contribute to the overall health of the market

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

CHALLENGES in the real estate market continue to worry association members, said Chia Boon Kuah, president of the Real Estate Developers Association of Singapore (Redas), at its 54th annual dinner last night.

"Against a backdrop of market volatility and a maturing real estate cycle, we have had to manage the unfolding effects of the government's seventh round of cooling measures, and the introduction of the total debt servicing ratio.

Cap on subletting of flats to foreigners soon

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

SINGAPORE - Up to 18 per cent of units in some Housing Board blocks are now wholly sublet to foreigners, even as the authorities are deciding on the cap to put on this figure.

This is to keep foreign enclaves from forming, National Development Minister Khaw Boon Wan said in a blog post last Friday.

"We will soon decide on an appropriate cap," he said. HDB said the board and the Ministry of National Development (MND) are aiming to finalise details soon.

The aim is to spread foreigners more evenly across the country. Now, over 35,000 units are entirely sublet to foreigners, excluding Malaysians - accounting for less than 4 per cent of all public flats.

But concentrations in certain areas drove the proportion up to 9 per cent in those neighbourhoods, "or even 18 per cent in some blocks", noted Mr Khaw.

Figures for subletting of entire flats came after HDB did an analysis of the subletting situation.

Refining the Executive Condominium Housing Scheme

Posted by Property Launch Invest on Tuesday, 10 December 2013 in Property News

The Government will implement three measures for Executive Condominium (EC) developments to bring the terms for ECs closer to that for public housing, and help support a stable and sustainable EC market. This follows a review by MND on the EC Housing Scheme, taking into account feedback from the Our Singapore Conversation on Housing.

HDB to start tapering off construction programme from 2014

Posted by Property Launch Invest on Tuesday, 03 December 2013 in Property News

National Development Minister Khaw Boon Wan said the tapering will be done in a "measured" way to allow the housing market to gradually adjust.

The massive construction of HDB flats will start to taper off from next year as balance is restored between demand and supply in the market, Minister for National Development Khaw Boon Wan said.

But "we will do so in a measured way, to allow the market to gradually adjust, just like what we had done to cool the property market earlier."

"Three years of sustained ramp-up have begun to restore the balance in our housing market," he wrote on his blog yesterday as the latest launch of 8,952 Build-to-Order (BTO) and Sale of Balance Flats (SBF) units last month drew to a close.

Revision of development charges rates for land use from Sept 1st

Posted by Property Launch Invest on Thursday, 21 November 2013 in Property News

The Ministry of National Development has revised the development charge (DC) rates for the period from 1 September 2013 to 28 February 2014.

The DC rates for Industrial/Warehousing Use have an average increase of 15%, with the largest increase of 29% in the following sectors:

The Ministry of National Development said the recent property cooling measures are still necessary and relevant to avoid a major price correction when economic conditions change.

Posted by Property Launch Invest on Tuesday, 24 September 2013 in Property News

SINGAPORE: The Ministry of National Development (MND) said the recent property cooling measures are still necessary and relevant to avoid a major price correction when economic conditions change.

Even though housing demand and price growth have eased, MND noted market activity remains robust and prices continue to rise.

It also noted interest rates remain unrealistically low.

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National Development Minister Khaw Boon Wan said the tapering will be done in a "measured" way to allow the housing market to gradually adjust.