Property

Indonesian family buys three luxurious bungalows on Singapore’s Nassim Road for S$206.7 million

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An Indonesian family has purchased three Good Class Bungalows (GCBs) on Nassim Road, Singapore’s most prestigious address, for a total of S$206.7 million ($155 million).

The bungalows are being sold individually to three members of the same family, but their identities have not been disclosed.

The sales reflect Singapore’s increasing attractiveness as a destination for affluent families worldwide.

However, Indonesian Finance Minister staff has raised concerns over the news, reminding the family to fulfil their tax obligation to their country.

In other news, the Ministry of Home Affairs refuted reports that the city-state is set to attract 3,500 wealthy individuals to become citizens this year.

Four-room unit at Pinnacle@Duxton sets new HDB resale record at $1.4 million

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A four-room flat at Pinnacle@Duxton has made history with a record-breaking sale of $1.4 million in April 2023. The 95 square metre unit, located on the 46-48th floor of Block 1C Cantonment Road, has become the most expensive four-room HDB resale flat in Singapore based on both price and price per-square-foot.

The sale surpassed the previous record set by a five-room unit at the same development less than a month ago. With this sale, all four-room flats above the 24th floor at Pinnacle@Duxton have sold for over S$1 million.

The development, which was launched in 2004, consists of 1,232 four-room units and 616 five-room units, and is known for its unique design featuring two sky bridges linking seven towers.

Singer Dick Lee’s aunt’s prime freehold bungalows sold for S$61.1 million; Proceeds to go to charities

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SINGAPORE— Three adjacent prime freehold bungalows belonging to the late Agnes Tan, the aunt of singer-songwriter Dick Lee, have been sold for S$61.1 million. The Business Times reported that the buyer is a subsidiary company of Sustained Land, a property developer founded and owned by Mr Douglas Ong. The three bungalows were are located at … Read more

3-room Bidadari flat rented out at S$4,100, before reaching MOP, with HDB approval

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A 3-room HDB flat in Bidadari was rented out for S$4,100 per month, with HDB’s approval despite the five-year mandatory occupation rule. HDB stated that exceptions are granted on a case-by-case basis due to unforeseen circumstances.

Some netizens urge HDB to regulate rental prices, citing concerns about high rental prices being exploited for speculation.

Landlord terminates rental agreement with tenant over alleged illegal partitioning amid soaring rental prices and high demand for flexible living spaces

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SINGAPORE — The soaring rental prices of housing in Singapore have prompted many to explore alternative solutions, with short-term leasing contracts and highly flexible shared living spaces emerging as popular choices. One co-living operator saw a business opportunity and signed a three-year contract to rent an apartment unit in Geylang, which they renovated and turned … Read more

Expats intend to move back to Hong Kong as Singapore rentals hit record highs

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Recently, a 5-room flat at 42a Margaret Drive listed for $1.5 million on property portal raised Singaporeans’ eyebrows, wondering if resale prices of HDB flats moving even closer to million dollars, surging price of overall public housing property. It’s clear how expensive HDB resale flats are nowadays, with prices increasing for the 11th consecutive quarter (according to Q4 … Read more