The Urban Redevelopment Authority classified the installation of a swimming pool at the Ridout Road bungalows rented by ministers K Shanmugam and Vivian Balakrishnan as “minor work”. Senior Minister Teo Chee Hean found no wrongdoing in their rental transactions. However, typically, pool construction involves substantial planning and resources, contradicting this “minor work” classification.
URA’s Q1 2023 report shows a significant increase in Singapore’s private residential property prices and rentals. Prices rose by 3.3%, with landed properties jumping 5.9%. CCR and RCR non-landed properties saw increased prices, and OCR rebounded. Rental growth moderated for non-landed properties, while landed rentals surged. Developer sales improved, and the government increased private housing supply to promote a sustainable market.