News by Lin Zhiqin

Interest in Sentosa Cove has translated into sales — not just that of the 99-year leasehold condo­minium units, but the leasehold waterfront bungalows as well. Word on the street is that a bungalow at Cove Grove — with a 270-degree view of the waterway and owned by Ezra Holdings founder and chairman Lee Kian Soo — has been sold.

On March 17, a 2,885 sq ft unit at High Point in prime District 9 was sold at a S$2.15 million (RM6.78 million) profit. The seller bought it at S$1.85 million, or S$641 psf, in January 2003 and sold it at S$4 million, or S$1,386 psf. The profit works out to 116%, or 6% a year over 14 years.

On Feb 28, a 2,885 sq ft unit at Ardmore Park in prime District 10 was sold at a S$3.5 million (RM11.08 million) profit. The seller bought the unit from the developer at S$5.4 million, or S$1,876 psf, in August 1996 and sold it at S$8.9 million, or S$3,085 psf.

The Working Capitol launched its second co-working location on March 13. Occupying 55,000 sq ft of space across 11 floors of the 19-storey tower at 140 Robinson Road, it is the biggest co-working space in the CBD so far.

The top two losses for private non-landed homes sold in the week of Feb 14 to 21 were for units in Orchard Scotts, a 99-year leasehold ­condominium in prime District 9 completed in 2008. It comprises 387 units and is located within walking distance of the Newton MRT station.

Government officials, policymakers, economists, bankers and experts gathered here for the Second Annual Asean Consumer and Household Debt Conference on Feb 22 and 23. The two-day event aimed to provide insight into the implications of household debt and the challenges faced by the policymakers.

On Feb 9, a 2,885 sq ft unit at Ardmore Park in prime District 10 was sold at a $4.6 million profit. The gain works out to 94%, or 5% a year over 14 years. The previous owner bought it at $4.9 million, or $1,699 psf, in September 2002 and sold it at $9.5 million, or $3,293 psf.

On Feb 20, Finance Minister Heng Swee Keat announced in his Budget statement that, with immediate effect, the Central Provident Fund’s (CPF) Housing Grant had been raised to $50,000 for first-timer couples buying four-room or smaller HDB flats from the resale market. For those who purchase five-room or bigger flats, the grant has been raised to $40,000.

On Feb 7, a 4,069 sq ft unit at Seascape in Sentosa Cove was sold at a $6.6 million loss. The loss works out to 52%, or 10% annualised over a holding period of 6.6 years.

Finance Minister Heng Swee Keat announced, with immediate effect, in his Budget statement today that the CPF housing grant has been raised to S$50,000 (RM157,144) for first-timer couples buying four-room or smaller HDB flats from the resale market