Latest news with #EugeneLim
CNA
26-05-2025
- Business
- CNA
CNA938 Rewind - Vietnam did it. Could Singapore one day ban Telegram?
CNA938 Rewind - Vietnam did it. Could Singapore one day ban Telegram? Vietnam's technology ministry has ordered telecommunication service providers there to block Telegram for not co-operating in combating alleged crimes committed by its users. This prompted Daniel Martin and Justine Moss to ask Associate Professor Natalie Pang from the Department of Communications and New Media, NUS, the question: Could we ever see a messaging app banned in Singapore? 16 mins CNA938 Rewind - Ultra-luxury condominium sales rise in 2025 Singapore's ultra-luxury condominium market looks set to be regaining momentum in 2025, amid ongoing global economic uncertainties. Daniel Martin and Justine Moss discuss further with Eugene Lim, Key Executive Officer, ERA Singapore. 14 mins CNA938 Rewind - Could building projects progress without disrupting nature? A young forest is slated for partial clearance to make way for a new neighbourhood in Bukit Batok. But is there a way to continue the work without having a big impact on the wildlife that live there? Daniel Martin and Justine Moss speak more with Dr Shawn Lum, Senior Lecturer, NTU Asian School of the Environment. 8 mins
Business Times
27-04-2025
- Business
- Business Times
Singapore homes in the Central Business District
[SINGAPORE] Land parcels along Cross Street in the Central Business District have been earmarked for redevelopment for residential use, according to the Urban Redevelopment Authority (URA). Located next to the Telok Ayer MRT station, the land parcel is being proposed for residential with commercial at first storey use, with a gross plot ratio of 6.3. The empty field previously housed the Market Street Interim Hawker Centre. 'The proposed amendments are to facilitate a future residential development, as part of plans to introduce more accommodation options near key amenities and transport nodes in the Central Business District (CBD),' URA said. China Square Food Centre, which is located in Telok Ayer Street nearby, may be redeveloped into a hotel. One of the land parcels there will see its zoning change from commercial use to hotel use with a gross plot ratio of 7. Several other land parcels which are open spaces or parks will also be made available for hotel and commercial use. 'A new hotel in the CBD, especially with public spaces, will liven up the city, particularly at nights and on weekends when the office crowd is away,' said ERA Singapore's key executive officer Eugene Lim. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Elsewhere in the city centre, a reserve site along Mohamed Sultan Road will be rezoned to residential with commercial use on the first storey. A gross plot ratio of 2.8 has been proposed for the River Valley area plot. The plot includes a transitional office site sold in 2010 with a 15-year-lease, said Lee Sze Teck, Huttons Asia senior director of data analytics. Land along the Kallang River is expected to be intensified for residential use. The proposed amendments will allow more people to live in central locations and near existing transport nodes, URA said. Christine Sun, OrangeTee Group's chief researcher and strategist, said the plot can yield an estimated 1,000 to 1,200 Housing and Development Board (HDB) Build-to-Order flats or around 1,400 to 1,500 condominium units. Meanwhile, a reserve site near the Woodlands South MRT is being set aside for residential use. An estimated 600 to 700 units could be built on the site, said Huttons' Lee. A white site at Dover Road which was subject to detailed planning will be made available for residential with commercial use on the first storey, so as to enable more people to live near existing employment centres and transport nodes, URA said. A residential site with a health and medical care zone is also being proposed for Bedok North. URA said the upcoming development will support demand for housing and improve residents' accessibility to health and medical care amenities.
Straits Times
25-04-2025
- Business
- Straits Times
HDB resale flat, private home prices moderating; macroeconomic outlook a concern
Amid stable demand for both housing types in the first quarter, analysts warn of downside risks ahead due to rising macroeconomic uncertainty. PHOTO: UOL GROUP SINGAPORE - Public and private property prices grew at a slower pace in the first quarter of 2025 , due to an increase in housing supply in both markets, coupled with a slowdown in resale flat volumes and overall private home transaction volumes. Amid stable demand for both housing types in the first quarter, analysts warn of downside risks ahead due to rising macroeconomic uncertainty. Following a bull run of 20 straight quarters, Housing Board resale prices grew 1.6 per cent in the first quarter – the slowest growth recorded since the fourth quarter of 2023 at 1.1 per cent. In comparison, the third and fourth quarter of 2024 grew 2.7 per cent and a 2.6 per cent, respectively. On the private housing front, the Urban Redevelopment Authority's (URA) overall private home price index grew at a slower pace of 0.8 per cent in the first quarter, beating flash estimates of 0.6 per cent. But growth was far below a 2.3 per cent gain in the previous quarter, as the price momentum for non-landed properties eased across all market segments. With some price resistance setting in, the number of HDB estates registering a quarterly price growth dipped to 19 in the first quarter, from 20 in the fourth quarter. Over the same period, those seeing a quarterly price drop rose to seven from six, according to OrangeTee Group. Total resale flat volume gained 2.6 per cent to 6,590 units in the first quarter of 2025, from 6,424 units sold in the fourth quarter of 2024. But year-on-year , it fell 6.8 per cent from 7,068 units in the first quarter of 2024. This is the lowest Q1 volume since the first quarter of 2020, when 5,893 units were transacted. OrangeTee's chief researcher and strategist Christine Sun noted that the resale flat market faced intense competition from the Build-To-Order (BTO) market, as HDB launched more than 10,000 new flats during the BTO and Sale of Balance sales exercises in February 2025. Amid growing macroeconomic uncertainty, resale flat demand may hold steady if job security and household income growth continue , and as private homeowners downsize to resale flats and budget-conscious buyers upgrade within the HDB sector, she said. ERA Singapore key executive Eugene Lim expects a rebound in resale flat transactions in the second quarter as unsuccessful BTO applicants return to the resale market. 'But others may wait for the upcoming BTO and SBF sales launches in July, where buyers can expect (launches in) popular locations like Clementi, Tampines, and Toa Payoh,' he added. Meanwhile, prices in the landed private property segment stabilised, gaining 0.4 per cent in the first quarter, compared with a 0.1 per cent drop in the previous quarter. Non-landed properties gained 1 per cent, compared with a 3 per cent rise in the fourth quarter. All three sub-markets saw slower price gains – the city fringe led with a growth of 1.7 per cent quarter-on-quarter, followed by the prime district with a 0.8 per cent gain and the suburbs with a 0.3 per cent increase. For the first quarter, developers moved 3,375 new private homes, excluding executive condominiums (ECs), down 1.3 per cent from 3,420 units transacted in the previous quarter. Thanks to new launches Parktown Residence in Tampines, Lentor Central Residences, and Elta in Clementi, the suburbs accounted for the bulk of the total volume, with 2,238 units sold, marking the highest quarterly sales in the sub-market in more than a decade. PropNex chief executive officer Ismail Gafoor noted that there was overwhelming interest in the EC segment, with the 760-unit Aurelle of Tampines selling out within a month of its March launch. 'The increase in the supply of EC sites under the government land sales programme will cater to healthy EC demand for such homes and help keep prices stable,' he said. According to the URA, 3,139 uncompleted private homes were launched for sale in the first quarter, compared with 3,425 units in the previous quarter. The resale market recorded 3,565 transactions in the first quarter, a 3.7 per cent quarter-on-quarter drop due to a surge in new project launches. 'Since late 2024, the new home market's share of total transactions has grown, standing at 27.5 per cent in first quarter 2024 before rising to 46.5 per cent in first quarter 2025,' Mr Marcus Chu, chief executive of ERA Singapore, said. The overall private home leasing market grew by 0.4 per cent in the first quarter of 2025 after remaining unchanged in the previous quarter. But analysts warned that demand may be affected should businesses refrain from expanding their operations, increase headcount or cut accommodation benefits for expatriates because of fallout from the trade war. It was a slightly different story in the resale flat leasing market, as demand jumped in the first quarter with 9,662 rental approvals by HDB – the strongest quarterly figure in five quarters. This is up 12.3 per cent from 8,603 approvals in the fourth quarter. 'Healthy rental demand from families waiting for their new homes to be completed, as well as foreign workers and international students, coupled with the limited stock of MOP flats, could potentially support HDB rentals in 2025,' PropNex head of research and context Wong Siew Ying said. Join ST's WhatsApp Channel and get the latest news and must-reads.
