Singapore locksmith company temporarily closes Yishun HQ, collaborates with URA for change of use application

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.

Pinnacle @ Duxton’s four-room HDB flat sold for S$1.41 million

Pinnacle @ Duxton is back in the spotlight as a four-room HDB flat’s recent resale shattered records, reaching an impressive S$1.41 million.

In Singapore, the highest-priced resale flat remains a five-room unit in Toa Payoh, sold for S$1.56 million in November.

Minister Desmond Lee: No immediate changes to penalties for MOP rule breaches by property agents

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.

GIC expands European hospitality holdings with HIP acquisition, sells stake in Australian mall

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.

Ang Mo Kio’s first 4-room HDB resale flat hits S$1 million mark

A 4-room HDB resale flat in Ang Mo Kio has recently surpassed the S$1 million mark, a milestone achievement for the area.

A closer examination of 2023 transactions on HDB’s website highlights not only near-1 million dollar deals but also a consistent trend originating from Cheng San Court.