A local locksmith company temporarily closed their Yishun HQ after being notified of operating their showroom without the necessary planning permissions.
Previously, the owner had been requested to pay significant land betterment charges, totaling nearly S$500,000 for their HQ comprised of three units.
In a recent update on Monday, the company revealed their active collaboration with the URA to expedite the application for a change of use.
Property owners at Dairy Farm Residences were discontented due to soaring monthly maintenance fees post-completion.
In response to complaints, a 40% reduction was initiated.
Netizens expressed valid concerns, questioning if fees were deliberately set higher initially, casting doubts on potential overcharging.
MND Minister Desmond Lee said the Council for Estate Agencies (CEA) has no immediate plans to reconsider penalties for breaching minimum occupation period (MOP) rules.
He emphasized the CEA’s disciplinary actions, which encompass fines and registration suspensions for errant property agents.
This stands despite recent cases where agents received fines of only S$1,000 and S$500 for advertising BTO flats that did not meet the required five-year MOP.
Singapore’s GIC revealed its acquisition of a 35% stake in Hotel Investment Partners (HIP) from Blackstone, bolstering its European hospitality portfolio by 72 luxury hotels. GIC is strategically poised to capitalize on the post-pandemic surge in international tourism.
Concurrently, GIC divested its 49% stake in Chatswood Chase Sydney back to Australian retail property group Vicinity.
Singapore’s Housing Development Board releases its 3Q2023 report which indicates a moderated growth in resale markets, with upcoming BTO launches, amidst sustained demand for larger, high-value flats.
The median resale prices for 5-room flats in Bishan, Bukit Merah, Kallang/Whampoa, and Toa Payoh have exceeded S$900,000.