Home Cleaning and Handyman Service

Clean&Fix.sg was established to provide a hectic home owners in Singapore with convenience and peace of mind when they require help around the house. They specialise in home cleaning and handyman services which range from simple tasks such as fixing toilet chokes and leaking faucets to floor polishing and painting of the interiors of the house.

Apart from home services, the firm has capabilities to support corporations and hotels which requires regular contract cleaning and handyman fixing help.

Our full range of services are in 4 distinct categories.
Cleaning
Professional Cleaning
Home Cleaning
Office Cleaning
Spring Cleaning
Contract Cleaning
Part-time Cleaning

Electrical works
Lighting Fixtures
Ceiling & Bath Fan
Outlets
Electrical Appliances

Plumbing works
Drains
Faucets
Toilet
Other Plumbing
Garbage Disposal

Handyman works
Pictures & Shelves
Knobs and Locks
Curtains & Blinds
TV Mounting
Air Conditioner
Furniture Assembly
House Movers
Interior Painting

Our booking process takes only 60 seconds. To book, input your address, select time, date & duration. After your booking is confirmed, we will follow-up with a call to further understand your needs and concerns.

We believe in payment transparency. No other hidden or sneaky fees or contracts for additional tasks, holidays, weekends or cleaner replacements.


Our Philosophy

At Clean&Fix, we believe in building relationships over the long term. We believe that for our business to prosper, there are no short cuts and the only way is still good old hardwork and reliable service in whatever we do.

We hire only trusted professionals who are experienced, friendly and background checked to ensure every experience with us is a pleasant one and back up our business with a 100% money back guarantee with no questions asked. If at anytime, you are unsatisfied with our work, we will refund your money. It’s a simple as that.

Next-Day Availability. We offer an online platform to schedule for your appointment with ease and efficiency and promise to schedule your home service for as early as tomorrow.

We also pride ourselves in providing fair salaries for our cleaners and handymen, some of whom are single parents or housewives working hard to supplement their family's income, and in turn, make a small impact in our society by providing jobs for those who find it hard to return to the full-time labour force.

Clean&Fix.sg offers Convenient Online Booking, Excellent Customer Service and Insured and Background Checked Cleaners so that you can spend time on the things that matter the most and have peace of mind while we take care of the cleaning and fixing for you.

The Metropolitan Condominium for sale and rental

The Metropolitan Condominium for Sale/Rent - Best Prices Guaranteed!
Why call me?

The Metropolitan Condominium rent sale

1. I have access to all the inventory in The Metropolitan Condominium so you need only call 1 agent to arrange all your viewings.

2 bedrooms
3 bedrooms
4 bedrooms

2. Guaranteed BEST Prices in the market! My focus on this condo puts me in constant contact with Metropolitan's owners. Thus, rest assure you'll be getting the most updated prices daily.


Call me now at (65) 9228 1688 for a One Stop The Metropolitan specialist. On Site daily.
The Metropolitan Condominium rent sale

Silversea Condominium Booking starts now! Last Seafront Plot In East Coast! Call +65 9691 9907

Booking starts now! Last Seafront Plot In East Coast! Call +65 9691 9907

Silver Sea condominium details, floorplans, site map

Silversea, the luxurious development located in the East Coast area, has 383 apartments and the living spaces of most large units are designed with sweeping pool or breathtaking sea views. Penthouses are crafted with different designs, offering exclusive living atop every tower to enjoy the most spectacular views

District: 15
Tenure: 99-year leasehold
Total Units: 383
Building:
Four 21-storey towers

All units come with balconies except for 2-Bedroom units. Seaview units starts from 11th floor upwards

Preview sales for Tower 4 Total 98 units
21 units 2 bedrooms – 947sqft
42 units 3 bedrooms- 1270sqft
16 units 3+1 bedrooms- 1474sqft
16 units 4 bedrooms- 2120sqft
3 units Penthouse- 4090sqft

Sizes of bedroom
2bedroom : 969 – 1152sf
3bedroom : 1485 – 1582sf
3 + study : 1647 – 1701sf
4bedroom : 2497 - 2766
Penthouse : 3552 / 4381 / 4962sf

Facilities
• 2 x 50m lap pool
• Garden Pavilion
• Outdoor Int’l Dining Pavilion
• Tennis Courts
• Day Cabana
• Bubble Pool
• Spa Beds
• Spa Seats
• Sky Promenade on 11th storey
• Infinity pool
• Five Elemental Spas
• Heated Jacuzzi Pool
• Lounge & Bar

****NOTE****
Prices are expected to be increased after this preview as is the norm for all new projects. Grab the 1st few units to gain from this opportunity! Special pricing range for private preview with lowest floor starting from $1250psf only and highest selling floor (13th floor) priced at $1720psf. Includes the sea view units. We will help you negotiate and try all near offers for you.

Exclusive soft launch viewing is strictly by appointment only.
Call Stuart Chng now at +65 9691 9907 for a friendly discussion.
Hurry, promotion for early birds!

East Coast Property Real Estate
Silver Sea condominium details, floorplans, site map
Singapore Property

Casa Merah Condominium for Sale. 50+ genuine units avail. www.Casa-Merah.com

GUARANTEED BEST PRICES! Casa Merah Condominium for Sale. 68+ genuine units avail. Singapore. Casa Merah Condominium

Why call us?

1. We have access to the entire inventory in Casa Merah Condominium.

2 bedrooms
3 bedrooms / 3+ study
4 bedrooms

2. Guaranteed BEST Prices in the market! We are in constant contact with Casa Merah owners. Thus, rest assure you'll be getting the BEST prices updated daily. Casa Merah Condominium


Condo details:
- 99 years lease hold
- 556 units
- Address: 1, 3, 7, 9 Amber Gardens
- Estimated TOP 3rd Quarter 2009

Call Stuart Chng at (65) 9691 9907 for a One Stop Casa Merah specialist. We have access to all units for sale.

Visit the Casa Merah Singapore website at Casa Merah Condominium for more details on this condominium.

East Coast Property and Condominium Websites Singapore

East Coast, Singapore is a popular location for expatriates and locals to settle in. Condominiums and apartments make up the bulk of housing options here.

The Esta Condominium

One Amber Condominium

Casa Merah Condominium

One Amber Condominium

Singapore Condominiums Property

Vertis condominium for sale and rent

Vertis condominium for sale and rent

Photos on Singapore Property Condominiums

Boutique condo located along Amber Rd. Only minutes drive to the City or Airport. Beautiful enduring sea views and pool views from the high floor apartments.

Prime units. Sea view with large sheltered and very usable balcony.

2100sqft. Asking from 880psf to 920psf only! For rent from $6000/mth.

View anytime.

Other Units available for Sale or Rent

Mid Floor 2Bedrooms 1206sq ft…………….fr $840psf For rent at $3.3k/mth
Mid Floor 3Bedrooms 1658sq ft .....................fr $850psf For rent at $3.7k/mth
Mid Floor 3Bedrooms 1206sq ft.....................fr $820psf For rent at $3.5k/mth

Please contact Stuart at 9691 9907 for viewings/enquiries.

To FIND more East Coast property, real estate and condo in Singapore, please visit Singapore Property Condominiums.

Condo specific data:

1. One Amber Condominium
   
2. Casa Merah Condominium
   
3. The Esta Condominium
4. One Amber Singapore
   
   

The East Coast Specialists

Selling/Renting out your place?

We have a pool of buyers and tenants waiting for a home in the East! Call us!

Best Prices! ONE AMBER CONDOMINIUM 36 UNITS AVAIL. www.OneAmber.com | www.One-Amber.com

GUARANTEED BEST PRICES! One Amber Condominium for Sale. 30+ genuine units avail. Singapore.

Why call us?

1. We have access to all the inventory in One Amber Condominium.

Studio
2 bedrooms
3 bedrooms
4 bedrooms
Penthouses

2. Guaranteed BEST Prices in the market! We are in constant contact with One Amber's owners. Thus, rest assure you'll be getting the Best prices updated daily.


Condo details:
- Freehold
- 562 units
- Address: 1, 3, 7, 9 Amber Gardens
- Estimated TOP 4th Quarter 2009

Call Stuart Chng at (65) 9691 9907 for a One Stop One Amber specialist. We have access to all units for sale.

Visit the One Amber Singapore website at www.OneAmber.com | www.One-Amber.com for more details on this condominium.

BEST PRICES! Casa Merah Condominium for Sale. 68 genuine units avail. www.Casa-Merah.com

GUARANTEED BEST PRICES! Casa Merah Condominium for Sale. 68+ genuine units avail. Singapore.

Why call us?

1. We have access to the entire inventory in Casa Merah Condominium.

2 bedrooms
3 bedrooms / 3+ study
4 bedrooms

2. Guaranteed BEST Prices in the market! We are in constant contact with Casa Merah owners. Thus, rest assure you'll be getting the BEST prices updated daily.


Condo details:
- 99 years lease hold
- 556 units
- Address: 1, 3, 7, 9 Amber Gardens
- Estimated TOP 3rd Quarter 2009

Call Stuart Chng at (65) 9691 9907 for a One Stop Casa Merah specialist. We have access to all units for sale.

Visit the Casa Merah Singapore website at www.Casa-Merah.com for more details on this condominium.

The Esta Condominium Specialist

The Esta Condominium Specialist

2, 3, 4 rooms apartments and penthouses available.
- Freehold
- Asking from $840psf
- TOP date: End 2008.
- Address: 31, 33, 35, 37, 39 Amber Gardens

Call us at (65) 9691 9907 for a One stop Esta specialist. We have access to all units for sale in the market.

Visit the official The Esta website at www.TheEstaSingapore.com for information on market prices, transaction volumes and units on sale now!

Wing Tai's Q4 net slumps 60%

August 27, 2008
Wing Tai's Q4 net slumps 60%
Home sellers seen unlikely to resort to fire-sale - at least until
2010
By UMA SHANKARI

PROPERTY group Wing Tai Holdings yesterday said that net profit for
its fourth quarter fell by more than half as it sold fewer homes and
saw lower fair value gains from investment properties.

At the same time, chairman Cheng Wai Keung, known for his often
candid assessments of the property market, said that while home
prices could see some adjustment in 2008 and 2009, sellers are
unlikely to have a 'fire sale' of their properties - at least until
2010.

This is because home prices in Singapore started climbing rapidly
only in 2006 and 2007, and buyers of these newer properties will see
the projects completed only from 2010 onwards. The push to offload
their units will happen only then, he said.

The company's net profit for the three months ended June 30 fell 60
per cent to $96.3 million, from $243.2 million a year ago. Fair value
gains on investment properties dropped to $90.6 million from $189
million.

Revenue for the fourth quarter fell 57 per cent to $107.3 million,
down from $249.1 million in Q4 2007. Among other projects, revenue
was contributed by units sold in The Riverine by the Park in
Singapore.

Earnings per share fell to 12.45 cents, from 33.83 cents a year ago.

Wing Tai has declared a dividend of six cents a share, comprising a
first and final dividend of three cents and a special dividend of
three cents.

For the entire 2008 financial year, Wing Tai reported that net profit
fell some 40 per cent to $229.4 million, from $381.8 million in
FY2007.

Revenue for the 12 months fell 56 per cent to $428.2 million, from
$981.6 million a year ago.

Wing Tai said in a filing to the Singapore Exchange that the
underlying fundamentals of the property market are still sound.

'I have always believed that property is actually a reflection of the
fundamental strength of the economy,' said Mr Cheng. However,
sentiment has a part to play too, he admitted.

Wing Tai sold some 205 units in Singapore during the financial year,
although the majority of units were sold in the last six months of
2007.

The company has some 1.4 million square feet in its residential land
bank, but no new launches are planned for the moment, Mr Cheng said.

a-iTrust buys India office space

August 27, 2008
a-iTrust buys India office space
By ARTHUR SIM

ASCENDAS India Trust (a-iTrust) will buy 96,051 square feet of office
space at India's International Tech Park Bangalore (ITPB) for 307.8
million rupees (S$10 million).

The space, now owned by Tata Consultancy Services (TCS), will be
leased back to TCS.

a-iTrust already owns 1.7 million-sq ft of space at ITPB through its
Indian special-purpose vehicle International Technology Park Ltd
(ITPL). Jonathan Yap, chief executive officer of the trustee-manager
of a-iTrust, said: 'As one of the four IT parks we own, ITPB has been
delivering good and steady returns. Current occupancy is 100 per
cent, and we continue to experience demand for space from existing
and new clients.'

a-iTrust said that the office purchase is part of an agreement under
which ITPL would construct and sell TCS a custom-built facility at
ITPB, while TCS would, in return, sell office units at the park to
ITPL.

The 515,000-sq ft custom-built facility has been completed and handed
over to TCS.

The office space will be yield-accretive. The pro forma financial
effect on a-iTrust's distribution per unit (DPU) for the financial
year ended March 31, 2008, is expected to be an additional 0.088
cents.

a-iTrust said the acquisition will be funded by drawing down an
existing loan facility. a-iTrust's gearing will be 5 per cent.

Upon completion of the acquisition, a-iTrust will own $1 billion of
assets, comprising 4.8 million sq ft of income-producing space plus
land for the development of 4.2 million sq ft of space.

Mr Yap said: 'We will continue to focus on enhancing returns to
unitholders through organic growth, developing land owned by a-
iTrust, and acquisitions.'

US housing upturn unlikely before '09

August 27, 2008
US housing upturn unlikely before '09
Recently-passed law to avert foreclosures a key move: official

(WASHINGTON) A recovery from the worst US housing slump since the
Depression is unlikely until 'well into 2009,' Housing and Urban
Development Secretary Steve Preston said on Monday.

'I think we're right in the middle of it, and I think we have a ways
to go before we start seeing a turnaround,' Mr Preston said in an
interview in Washington. 'We'll be well into 2009 before we see some
real energy in this market.'

A slowdown in home sales and a drop in prices has contributed to
record foreclosures as borrowers struggle to meet their monthly
mortgage payments.

Mr Preston said a foreclosure-prevention law Congress passed last
month will be important in aiding mortgage-finance companies Fannie
Mae and Freddie Mac, which are supporting most new mortgages.

'We have to begin seeing the inventory of new homes begin to reduce
so that we can see the buying activity begin to pull us out of the
situation we're in,' Mr Preston, 48, said.

US banks repossessed almost three times as many US homes in July as a
year earlier, and the number of properties at risk of foreclosure
jumped 55 per cent, California-based RealtyTrac Inc said in an Aug 14
report.

The law enacted last month creates a Federal Housing Administration
programme in HUD to insure as much as US$300 billion in refinanced 30-
year, fixed-rate mortgages for 400,000 struggling homeowners. The law
lets the US inject capital into Fannie and Freddie through stock
purchases or government loans.

Mr Preston deferred to the US Treasury and Federal Housing Finance
Agency, the new regulator of Fannie Mae and Freddie Mac, on whether
the companies should be bailed out or nationalised.

'I don't know what the future holds for them,' he said. Mr Preston
said 'it's possible' he may propose other solutions to the housing
crisis, without being specific.

'Many of the policy solutions are out there and working,' he
said. 'My guess is that you're going to see more fine-tuning of these
programmes to ensure that they're working, rather than large-scale
change.'

Other programmes include an industry-led effort called the Hope Now
Alliance organised last year to help troubled homeowners modify their
mortgages to make monthly payments more affordable.

A programme HUD started a year ago called FHA Secure is also aimed at
averting foreclosures by helping borrowers with adjustable-rate
mortgages refinance into FHA-insured mortgages.

Mr Preston, who was head of the US Small Business Administration, in
June replaced Alphonso Jackson, who quit amid a federal criminal
probe into contracts awarded by the agency.

Hotel site at Short Street now available

August 27, 2008
Hotel site at Short Street now available
By ARTHUR SIM

DEVELOPERS interested in a hotel site in Short Street can apply for
it to be put up for tender, after the Urban Redevelopment Authority
(URA) released detailed sale conditions.

The 0.12 hectare site is one of two new hotel plots on the reserve
list under the second-half 2008 Government Land Sales (GLS) programme.

The site, in the Bras Basah/Bugis district, has a maximum permissible
gross floor area of 4,077 sq metres (43,884.4 sq ft) - smaller than
others released this year.

Cushman and Wakefield managing director Donald Han believes it will
attract smaller developers and new entrants to the market.

The owner of neighbouring Albert Court Hotel may feel compelled to
bid, he said.

He reckons that if the site goes up for public tender, bids could
range from $350 to $400 psf per plot ratio (psf ppr) - a quantum of
$15.4-$17.6 million.

Knight Frank director (research and consultancy) Nicholas Mak also
sees bids in this range.

'Based on planning details and the neighbourhood, a boutique hotel
development with an ethnically artistic design is deemed suitable,'
he said.

For instance, a developer could put up a Peranakan-style building
similar to Albert Court Hotel.

Earlier this month, URA received a committed bid of $51 million or
$249.6 psf ppr for a reserve list hotel site at Kallang and Jellicoe
roads.

Also this month, URA awarded a hotel site in Balestier Road to HH
Properties, which put in the highest bid of $172 psf ppr.

There are now nine hotel development sites on the GLS reserve list.

According to URA, the reserve list for H2 2008 provides for potential
supply of 5,050 hotel rooms, including a white site at Outram Road.

HDB launches latest BTO project in Bukit Panjang

August 27, 2008
HDB launches latest BTO project in Bukit Panjang
By UMA SHANKARI

THE Housing and Development Board (HDB) yesterday launched its 474-
unit Senja Green project in Bukit Panjang.

The flats, offered under HDB's build-to-order (BTO) scheme, are among
8,400 BTO units planned for 2008, HDB said.

Senja Green comprises 96 two-room, 94 three- room and 284 four-room
apartments.

Two-room flats cost $82,000-$106,000, three- room flats $138,000-
$170,000 and four-room flats $211,000-$270,000.

Senja Green is bounded by Woodlands and Senja roads and Senja Way.
Come 2015, residents will also be near the upcoming Downtown Line 2
at Bukit Panjang.

Amid rising HDB prices, the BTO scheme offers first- time buyers one
of the cheapest options, market watchers say.

The flats are priced a shade lower than nearby resale flats, says
Eugene Lim, assistant vice-president of property agency ERA Asia-
Pacific.

A four-room resale flat in the area costs about $280,000, he said.

'The new flats offer buyers a variation from previous BTO projects,
which have mostly been in areas such as Sengkang and Punggol,' he
noted.

Investing in India's real estate sector

August 27, 2008
Investing in India's real estate sector
Foreign investors need to address some key issues and regulatory
requirements before jumping in
By ROHAN SOLAPURKAR

INVESTMENT in the Indian real estate sector continues to grow, albeit
the pace may be slowing just a little. Foreign developers as well as
private equity funds remain bullish, long-term, on India's property
market.

Not only is investment flowing into the 'first-tier' cities, but
attractive real-estate deals are also being negotiated and signed
in 'second-tier' cities such as Indore, Jaipur and Cochin.

From a foreign investor's perspective, the recent correction in real
estate prices in some parts of India is good news in that it could
result in land being available at attractive values.

But although Indian property may make an attractive investment for
foreign investors, it is important that they address some of the
regulatory issues prior to making an investment.

According to India's current foreign direct investment (FDI) policy,
100 per cent FDI is allowed under the automatic route - that is,
without requiring government approval - for the construction and
development projects that include housing, commercial premises,
resorts, educational institutions, recreational facilities, city and
regional-level infrastructure and townships.

But this is subject to certain conditions:

- Minimum area for development under each project should be:
i) 10ha in the case of services housing plots; or
ii) 50,000 sq m in the case of construction development projects.
iii) In case the project is a combination of the two, any one of the
two conditions would have to be met.

- Minimum capitalisation of US$10 million for wholly owned
subsidiaries and US$5 million for joint ventures with Indian parties.

- The funds have to be brought in within six months of commencement
of business of the company.

- The original investment is subject to a lock-in period of three
years from the completion of minimum capitalisation.

- At least 50 per cent of the project must be developed within a
period of five years from the date of obtaining all statutory
clearances.

- Investors would not be permitted to sell undeveloped plots.

Though the investment policy seems straightforward, investors still
need to address some key issues and comply with other regulatory
requirements.

For example, when it comes to funding, India's exchange control
regulations permit external commercial borrowings (ECBs) - that is,
commercial loans in the form of bank loans, buyers' credits,
suppliers' credits, and loans from shareholders.

There are several restrictions on the end use of ECB funds. One of
these is that the proceeds of ECBs cannot be used for the purpose of
acquiring real estate in India. Accordingly, ECBs cannot be used for
real estate development in India.

Preference shares are also considered as ECBs and, likewise, cannot
be used to invest in a real estate project in India.

The only exception is the use of compulsory convertible preference
shares or fully and mandatorily convertible debentures, which would
be treated as part of equity and would be considered as FDI.

Therefore, apart from pure equity funding, only compulsory
convertible preference shares and fully and mandatorily convertible
debentures can be used. This would tend to minimise the options
available for funding a project in India because all funds would have
to be in the form of equity or instruments which can be converted
into equity.

As per the FDI regulations, a foreign investor's original
investment 'cannot be repatriated before a period of three years from
completion of minimum capitalisation'.

* Original investment

The question therefore arises as to the meaning of the term 'original
investment'. Should the term be interpreted as 'minimum
capitalisation' or should it be interpreted to mean the funds brought
into the company in the first six months?

Since the term is not defined, it becomes important to have a correct
interpretation, as the 'original investment' is subject to a three-
year lock-in period. The view that seems to be emerging is that funds
brought into the company in the initial six months - that is, the
minimum capitalisation of the commencement of business - is the
original investment and subject to the lock-in period.

However, the risk is that if an amount in excess of the minimum
capitalisation is invested during the first six months, the entire
amount would be treated as 'original investment' and would be subject
to lock-in. To minimise this risk, only funds to the extent of
minimum capitalisation should be invested during the first six months.

Investors in real estate have to bring the funds into India within
six months of 'commencement of business'. Again, the
term 'commencement of business' has not been defined. It can be
interpreted in various ways; for instance, in the construction
business it could mean the point at which construction actually
commences.

The view emerging from Indian regulators is that the
term 'commencement of business' means when the shareholders agreement
or joint venture agreement is signed. Accordingly, the funds have to
be invested within six months upon signing the agreement.

Finally, there are questions surrounding partially completed
projects. The FDI guidelines do not clarify whether FDI would be
permitted into these.

The question would arise as to the meaning of 'partially developed'.
In this connection the view appears to be that if the project is less
than 25 per cent complete, FDI would be permitted. However, in this
case it may be prudent to seek prior approval of the Foreign
Investment Promotion Board before making an investment.

Given the fact that India desperately needs good-quality housing and
commercial space, the current slowdown in deals in India is likely to
be temporary.

In due course, growth in the Indian real estate sector will resume
with more acquisitions and consolidation. But foreign investors
planning to enter India's real estate sector need to address a number
of regulatory issues before they go in.

The writer is the head of tax of BDO Raffles in Singapore. The views
expressed in this article are his own

S'pore housing: Get the bigger picture right

August 27, 2008
MONEY MATTERS
S'pore housing: Get the bigger picture right
By JOSEPH CHONG

THE media recently highlighted bearish analyst reports about the
Singapore residential market. One, I recall, predicted a decline of
40 per cent over three years. Another forecast plunging rents in 2009
and consequent sharp falls in capital values. Perhaps this is why
some owners have chosen to sell prime freehold units at implied gross
yields of 4 per cent.

However, looking at the same data, I could not arrive at the same
dour conclusion. I could not arrive at the same conclusion because I
looked at data from other sources as well - in particular, HDB
statistics. Since HDB rules on owners leasing out flats have been
liberalised, the housing market is now a continuum. Indeed, on a per
sq ft basis, rents commanded by well-located HDB flats are now
comparable to those for private residential apartments, going by HDB
and URA data.

The big picture in housing has always been driven by supply and
demand - total supply and demand, not just private residential. If
more households are created than housing units completed, there is
upward pressure on rents and capital values.

Let's look at supply first: A net 10,000 private residential homes
are estimated to be completed in 2009. HDB does not publish
completion data, but based on 2006 build-to-order data, only 2,400
units are estimated to be completed in 2009. In total, that's 12,400
housing units.

Now let's look at demand: According to the HDB's website, sub-letting
approvals in 2007 totalled about 12,800, or 50 per cent more than
2006. Yes, the HDB rental market is hot. For 2008, sub-letting
approvals are running 30 per cent higher than in 2007, or about
16,300 units. This is consistent with data from the Department of
Statistics on population and workforce growth in Singapore. The new
(foreign) households are not living in tents. If they cannot afford
private housing, they rent HDB flats.

We see that rental demand alone for HDB flats will probably exceed
total private and HDB housing completions of about 12,400 units in
2009. Although the world economy is probably going to feel
recessionary in 2009, Singapore will be somewhat insulated. This is
because of a number of large projects coming on stream will boost job
creation significantly in 2009. In particular, the integrated resorts
(IRs) are expected to have 20,000 employees and create 50,000 new
jobs overall. Given the nature of the IRs, I would expect a
significant portion - perhaps 50 per cent of their employees
initially to be foreigners, thus boosting household formation in 2009.

Nonetheless, I expect some softness in the private residential rental
market relative to the HDB in 2009, as the bulk of completions will
be private. For developments with adjacent completions, rents will be
restrained by competition. Indeed, we see this happening already.

URA publishes comprehensive data on the property market. I believe it
would be helpful for the market if the HDB published similar data,
especially vacancy rates and building completion numbers. Even better
would be for the authorities to publish composite data that
amalgamates HDB and URA data.

Interestingly, despite the liberalised HDB rental market, HDB rents
have risen despite volume growth. Demand has clearly been very
strong. With average gross HDB rental yields of 6 per cent, or a net
yield of about 5 per cent, HDB upgraders buying private property have
a financial planning and investment choice. Upgraders who have the
liquidity and risk tolerance may want to look out leasing out their
HDB flats and taking a bigger mortgage, instead of selling their
flats to finance the upgrade to private housing.

The net rental yield of about 5 per cent versus mortgage costs of
about 3 per cent means a positive spread of 2 per cent. This 2 per
cent on $400,000 delivers an additional $8,000 a year, assuming
rental income does not rise with time. This would be handy in
accelerating the reduction of the overall mortgage principal. Over
the life of the mortgage, it could amount to more than $200,000 - a
nice contribution to the retirement nest egg.

The author is CEO of financial adviser New Independent. He welcomes
feedback at josephchong@ni.com.sg. This article is for information
only. Readers should seek independent advice before making any
investment decisions.

New HDB flats for sale, rent in West

Aug 27, 2008
New HDB flats for sale, rent in West
Coming up in Bukit Panjang: 474 homes for sale, 300 for rent
By Jessica Cheam

HOMEBUYERS are being offered a further 474 new flats to choose from,
with the launch of a new Housing Board project in Bukit Panjang
yesterday.

Also, 300 units in two new rental blocks will be built nearby, for
the first time under the same contract as the flats being offered for
sale.

HDB's latest move to ramp up the building of new flats and rental
homes comes after demand soared for both types of housing in the past
year.

The new project, called Senja Green, offers two- to four-room units -
with prices ranging from $82,000 to $270,000 each.

The flats, under HDB's build-to-order scheme, will only be built if a
certain level of demand is reached.

HDB's latest development brings the number of new flats launched for
sale this year to 5,000. It plans to launch 8,400 units by the end of
the year.

As for rental flats, HDB said it expects to increase its current
stock from 42,800 to 49,860 by 2011.

The sharp hike in demand for rental flats was flagged by Prime
Minister Lee Hsien Loong in his recent National Day Rally speech as a
worrying trend.

To prevent abuse of the rental scheme, National Development Minister
Mah Bow Tan announced stricter rules last Saturday, effective
immediately, which will see Singaporeans in desperate need of a home
given priority for such flats.

Each month, about 131 tenants give up their flats and 382 people join
the queue.

In June, there were 4,387 applicants on the waiting list. They wait,
on average, 18 months for a one-room rental flat and nine months for
a two-room flat.

HDB said yesterday that the rental flats were included in the same
building contract 'for greater economies of scale, amid rising
construction costs'.

The launch of Senja Green follows another HDB project, Segar Meadows,
in Bukit Panjang town, which was launched last November.

As at 5pm yesterday, 177 applications had been lodged for the new
units.

Senja Green is located in Woodlands Road and is bounded by Senja Way
and Senja Road. The rental blocks are separate from Senja Green but
will also sit on Woodlands Road.

The new flats are close to the Ten Mile Junction shopping mall and
Senja LRT Station as well as West View Primary School and West Spring
Secondary School.

Residents can also look forward to the Downtown Line 2 in Bukit
Panjang, which will be ready in about 2015, HDB said.

The 96 two-room flats available at Senja Green will come with a floor
area of 47 sq m each. They will be priced between $82,000 and
$106,000 each.

The 94 three-room flats will have a floor area of 67 sq m each and
cost $138,000 to $170,000. There are also 284 four-room flats of 93
sq m in size, which will go for $211,000 to $270,000 each.

Buyers can opt for ceramic floor tiles and internal timber doors to
be installed in their flats, at an additional cost.

Interested buyers can apply online at HDB's website www.hdb.gov.sg
from now until Sept 8.

The selection exercise will start from November. Models of the
estates are on display at the HDB Hub Habitat Forum in Toa Payoh
until the closing date.

Ensuring rental flats go to 'truly needy'

Aug 27, 2008
Ensuring rental flats go to 'truly needy'

TWO-THIRDS of people who apply to rent Housing Board flats are former
flat owners.

And of this group, two-thirds are not in arrears nor are they divorce
cases, whose special circumstances are weighed when they apply for
rental flats.

These people appear to be 'not truly needy', and the Housing Board
does not want them to crowd the rental queue meant for low-income
earners, said Dr Mohamad Maliki Osman, Parliamentary Secretary of the
National Development Ministry.

He was responding to Madam Ho Geok Choo (West Coast GRC), who had
asked why there has been a sudden surge in demand for rental flats.

Dr Maliki said that with high property prices, some people sell their
flats and turn to heavily subsidised rental flats as 'an attractive
option'.

'We are in the process of reviewing the rental applicants to make
sure the subsidies given to rental housing are targeted at the really
truly needy,' he added.

The not truly needy group plus the higher cost of living are among
the reasons for the strong demand for rental flats, he noted. Dr
Maliki does not think those on public assistance form the majority of
families that default on their rent to the Housing Board.

This is because by and large, they receive 'substantial assistance'
from the Ministry of Community Development, Youth and Sports, he
said, adding that he did not have the full profile of defaulters.

People who apply for rental flats must have a household income that
is not more than $1,500, and they must not have sold their property
in the last 30 months.

In his National Day Rally speech, Prime Minister Lee Hsien Loong had
expressed concern over the tripling in the number of people seeking
rental flats.

Those who are not needy can look for alternatives, he said, such as
moving in with their children or renting a room in the open market.

Lease buy-back kicks off next year

Aug 27, 2008
Lease buy-back kicks off next year
By Lee Siew Hua

FROM January next year, elderly home-owners of small flats will
receive $550 each month if they join a new plan to sell part of their
lease back to the Housing Board.

The proceeds from this sale will go to a Central Provident Fund Life
annuity, which gives them a stream of monthly payouts for retirement
even as they continue to stay comfortably in their homes.

This plan is open to people who are at least 62 years old.

Senior Minister of State for National Development Grace Fu yesterday
gave Parliament an update of the scheme, first announced last August
by Prime Minister Lee Hsien Loong.

Said Ms Fu: 'This is really a good solution to cater to a group of
the elderly who probably do not have as many options as those who are
staying in the bigger flats.'

Their two- to three-room flats are 'sizeable assets which they can
monetise' by turning to the lease buy-back scheme, she added,
replying to Madam Cynthia Phua (Aljunied GRC) and Mr Baey Yam Keng
(Tanjong Pagar GRC).

She projected that 25,000 households can sign up for it. This
represents 70 per cent of the elderly who own two- and three-room
flats.

She addressed two common questions.

First, what happens if the flat owner outlives the lease? 'No elderly
will be left homeless,' she assured the House.

One option is to buy a lease extension. But not all can afford this,
so the HDB will assess the housing options of each family and
be 'sensitive' to their financial health, she said.

Next, what happens if an elderly person dies prematurely? In this
case, his estate will receive a 'pro-rated refund on the residual
lease', Ms Fu said.

For the elderly, studio flats are another option and the Government
is building more of these, she noted in her reply to Madam Phua.

Ms Fu said: 'In many of the new estates we are building, two-room
flats are available.

'In fact, they are not as well subscribed as the bigger flats so once
the flats are ready, they are available straightaway.'

Tampines site: Sole bid rejected

Aug 27, 2008
Tampines site: Sole bid rejected

THE sole bid for a Tampines condominium site overlooking Bedok
Reservoir has been shot down for being too low.

Boon Keng Development's optimistic offer of $84.6 million, or $118
per sq ft (psf), for the site was just not enough, said the Urban
Redevelopment Authority (URA) yesterday.

Consultants were not surprised that the bid was rejected.

They had previously said that anything from $150 to $230 psf would
have been more reasonable as apartments on the 3.2ha site could sell
for up to $700 psf.

According to Knight Frank's director of research and consultancy, Mr
Nicholas Mak: 'If the Government had accepted it, it would be taken
as a signal that it is lowering its reserve price for all other
sites.

'Or (a signal) the Government is of the opinion that the land price
has fallen to the same level as that during the 1998 recession.

'Even then, the last piece of government land sold in 1997 before
site tenders were suspended because of the recession was $171 psf for
a piece of land at Hougang Street 11.

'So it was too optimistic to expect the government to award this
bid.'

The tender for the 99-year residential site at the junction of
Tampines Avenue 1 and 10 was launched on June 17 and closed on Aug
12.