16 Feb 2011,
Households smaller but more affluent
Changes reflect social transformation in Singapore, says minister
By Andrea Ong
HOUSEHOLDS here have grown smaller over the last decade, while the proportion of families and individuals who now live in condominiums and private flats has nearly doubled in the same period.
These trends were revealed in the latest Census 2010 data on households and housing released yesterday.
And the picture it presented showed that the family unit here has shrunk and grown older - but is generally more affluent compared to 11 years ago.
According to the Census, there were 1.15 million resident households - Singaporeans and permanent residents - last year, a 25 per cent increase from 2000.
The average household size last year was 3.5 people, a drop from 3.7 in 2000.
Data showed that households comprising three or fewer family members made up more than half the total resident households here last year - an increase from 44.5 per cent in 2000.
Commenting yesterday, Community Development, Youth and Sports Minister Vivian Balakrishnan said the changes reflected the 'long-term social transformation occurring in Singapore, lower fertility, an ageing population and more job opportunities in the region'.
'The result of all this is the household size will shrink,' he said. But efforts will continue to be made to ensure 'the family remains the centrepiece of our lives'.
Agreeing, analysts said matters have not been helped by married couples not having children or having fewer children. Singapore's total fertility rate hit a historic low of 1.16 last year.
Explaining the smaller household size, National University of Singapore (NUS) sociologist Tan Ern Ser said it could be due to a growing number of couples and singles across all age groups preferring and having the means to live alone: 'Sometimes, couples may prefer to live with their parents. But it may be more practical to live on their own near their workplace or school of choice.'
The drop in household size was most apparent among the Chinese, where the average size fell to 3.4 from 3.6 in 2000.
The average Indian household size fell to 3.6 from 3.7 in 2000, while it held steady for Malay households at 4.2.
Still, the experts say the smaller size is not cause for concern, unless it leads to social isolation and less support from other family members and caregivers.
'There should not be a problem if they are socially engaged or if they remain integral parts of their families,' said Institute of Policy Studies (IPS) demographer Yap Mui Teng.
The Census also showed a larger proportion of families and individuals lived in condominiums, private flats and landed property compared to 2000.
Last year, 16.9 per cent of households did so, compared to 11.4 per cent in 2000.
The sharpest rise was for those living in condominiums and private flats: 11.2 per cent were in such housing compared to 6.3 per cent in 2000.
While the proportion living in HDB flats declined by 5.3 percentage points to 82.4 per cent last year, five-room and executive flats comprised the only public housing category to see an increase.
The rise in the number living in private housing is possibly a sign of growing affluence, said Dr Yap. It could also be due to a larger supply of such housing types.
It is also part of 'the Singapore dream' to cross over from public to private housing, added Professor Tan.
Other signs of affluence were in the rise in household income among ethnic groups. The median monthly household income from work increased from $3,640 in 2000 to $5,000 last year.
Indians overtook the Chinese as the ethnic group earning the highest household income. Last year, Indian households earned a median monthly income of $5,370. This compares to $5,100 for Chinese and $3,844 for Malay households.
In 2000, Chinese households were the top earners with a median monthly income of $3,880. The shift is probably tied to the growth in the number of better-educated Indian immigrants, said Dr Yap.
Nearly half of married couples last year were also drawing a dual income, compared to 41 per cent in 2000.
The data also pointed to the rise of the professional, well-off single living alone.
One-person households saw the largest growth in percentage points among different household sizes: 12.2 per cent of households had one member last year, compared to 8.2 per cent in 2000.
More than half of them were single, and almost half lived in private housing or HDB flats with at least four rooms, compared to 30.3 per cent in 2000.
This group is likely to grow, said NUS sociologist Paulin Straughan.
Assessing the trends, she said they gave an indication of the future: 'In 20 to 30 years' time, there will be a big chunk of the elderly population living alone, and they will be quite happy to do so. But at some point, they will need support.'
This has implications on government support structures for the elderly, which are 'hinged very much on family'.
Both she and IPS research fellow Kang Soon Hock called for a change in the support strategies. These include more community support facilities for the elderly and more step-down care options such as retirement villages.
andreao@sph.com.sg
Wednesday, February 16, 2011
ST : Punggol site surprises with $1.02b top bid
16 Feb 2011,
Punggol site surprises with $1.02b top bid
Analysts say bids reflect developers' continuing hunger for unique sites
By Cheryl Lim
A PRIME Punggol waterfront site has attracted a surprisingly high tender of $1.02 billion, amid a fierce bidding battle between seven development groups.
Analysts had predicted that the 30ha plot at Punggol Central and Punggol Walk would attract plenty of interest but even they were surprised by the response.
The top bid - it was lodged by a joint venture comprising Frasers Centrepoint, Far East Organization and Sekisui House - works out to $753 per square foot, well above the $450 psf predicted.
The bid was also more than four times as high as the lowest at $250 million, which was submitted by Mezzo Development.
It was 20 per cent ahead of the $850 million second-place bid submitted by a joint venture between Mr Pua Seck Guan, Osim International founder Ron Sim and QingDao Construction.
Keppel Group was next with a $786 million bid, CapitaLand and CapitaMalls Asia bid $764 million, while Singapore Press Holdings teamed up with United Engineers with an offer of $693 million. Two GuocoLand units jointly tendered $681 million.
The winning group said yesterday that it wanted to build a waterfront development with about 680 flats with water views and a shopping mall with an estimated 365,000 sq ft of lettable space.
The development would be integrated with the upcoming town square and riverside promenade.
The developer will have to complete the project within seven years.
Credo Real Estate executive director Ong Teck Hui said the top bid was an optimistic one that leveraged on the long-term prospects of the blossoming new town.
Mr Nicholas Mak, executive director of research and consultancy at SLP International, said the bids reflected the fact that developers are still hungry for attractive sites, especially those with unique selling points.
Mr Mak said the healthy interest from developers could also be attributed to a number of different factors.
He said the winner of the tender would be able to lay claim to the first mixed-use site to be built by private developers. The commercial element would allow the site to be developed into the first retail mall in Punggol, giving a first-mover advantage in the up-and-coming residential area.
'Punggol has an expanding young middle-class population. Some of the HDB flats are more than five years old. Therefore, there could be a healthy upgraders demand for private homes in this housing estate,' said Mr Mak.
Mr Ong agreed: 'Pricing for residential and retail rentals can be expected to be optimistic given the site's prime location next to the Punggol MRT station, proximity to the bus interchange, schools and other amenities.'
cherlim@sph.com.sg
Punggol site surprises with $1.02b top bid
Analysts say bids reflect developers' continuing hunger for unique sites
By Cheryl Lim
A PRIME Punggol waterfront site has attracted a surprisingly high tender of $1.02 billion, amid a fierce bidding battle between seven development groups.
Analysts had predicted that the 30ha plot at Punggol Central and Punggol Walk would attract plenty of interest but even they were surprised by the response.
The top bid - it was lodged by a joint venture comprising Frasers Centrepoint, Far East Organization and Sekisui House - works out to $753 per square foot, well above the $450 psf predicted.
The bid was also more than four times as high as the lowest at $250 million, which was submitted by Mezzo Development.
It was 20 per cent ahead of the $850 million second-place bid submitted by a joint venture between Mr Pua Seck Guan, Osim International founder Ron Sim and QingDao Construction.
Keppel Group was next with a $786 million bid, CapitaLand and CapitaMalls Asia bid $764 million, while Singapore Press Holdings teamed up with United Engineers with an offer of $693 million. Two GuocoLand units jointly tendered $681 million.
The winning group said yesterday that it wanted to build a waterfront development with about 680 flats with water views and a shopping mall with an estimated 365,000 sq ft of lettable space.
The development would be integrated with the upcoming town square and riverside promenade.
The developer will have to complete the project within seven years.
Credo Real Estate executive director Ong Teck Hui said the top bid was an optimistic one that leveraged on the long-term prospects of the blossoming new town.
Mr Nicholas Mak, executive director of research and consultancy at SLP International, said the bids reflected the fact that developers are still hungry for attractive sites, especially those with unique selling points.
Mr Mak said the healthy interest from developers could also be attributed to a number of different factors.
He said the winner of the tender would be able to lay claim to the first mixed-use site to be built by private developers. The commercial element would allow the site to be developed into the first retail mall in Punggol, giving a first-mover advantage in the up-and-coming residential area.
'Punggol has an expanding young middle-class population. Some of the HDB flats are more than five years old. Therefore, there could be a healthy upgraders demand for private homes in this housing estate,' said Mr Mak.
Mr Ong agreed: 'Pricing for residential and retail rentals can be expected to be optimistic given the site's prime location next to the Punggol MRT station, proximity to the bus interchange, schools and other amenities.'
cherlim@sph.com.sg
ST : Work starts on next phase of Fusionopolis
16 Feb 2011,
Work starts on next phase of Fusionopolis
WORK has started on the next phase of technology and research hub Fusionopolis at one-north in Buona Vista.
Two new towers - 18 storeys and 11 storeys respectively - will be built at the junction of Fusionopolis Way and Ayer Rajah Avenue, in what will become Fusionopolis Phase 2A.
Industrial landlord JTC Corporation, which is overseeing the development of one-north, has called a tender for the construction and completion of all the works for both towers, it said yesterday.
JTC aims to develop Fusionopolis Phase 2A into a research node 'that will nurture a vibrant research community', it added.
To this end, Phase 2A will take up a 1.04ha site with an approximate gross floor area of 904,168 sq ft. This will include a multi-storey business park, wet/dry laboratories and office areas.
JTC has previously said that Phase 2A, which will feature Singapore's largest R&D clean-room facility, should be ready by 2013.
Phase 1 was officially opened in October 2008 and Phase 2B was completed early this year.
JTC is planning to launch the site for Phase 3 by the end of this month.
Work starts on next phase of Fusionopolis
WORK has started on the next phase of technology and research hub Fusionopolis at one-north in Buona Vista.
Two new towers - 18 storeys and 11 storeys respectively - will be built at the junction of Fusionopolis Way and Ayer Rajah Avenue, in what will become Fusionopolis Phase 2A.
Industrial landlord JTC Corporation, which is overseeing the development of one-north, has called a tender for the construction and completion of all the works for both towers, it said yesterday.
JTC aims to develop Fusionopolis Phase 2A into a research node 'that will nurture a vibrant research community', it added.
To this end, Phase 2A will take up a 1.04ha site with an approximate gross floor area of 904,168 sq ft. This will include a multi-storey business park, wet/dry laboratories and office areas.
JTC has previously said that Phase 2A, which will feature Singapore's largest R&D clean-room facility, should be ready by 2013.
Phase 1 was officially opened in October 2008 and Phase 2B was completed early this year.
JTC is planning to launch the site for Phase 3 by the end of this month.
ST : Private home sales feeling the chill of cooling measures
16 Feb 2011,
Private home sales feeling the chill of cooling measures
January numbers down 11%, but still higher than expected by analysts
By Esther Teo
PRIVATE home sales stayed buoyant last month, but experts believe the cooling measures imposed in the middle of the month will likely take some of the heat out of the market.
That will not be apparent until this month's numbers are released next month, but figures out yesterday have given the industry plenty to digest.
They showed that 1,189 new units were sold last month, 11 per cent down on December and nearly 40 per cent lower than November, but higher than expected by market watchers.
If sales at executive condominium estates such as Prive and Austville Residences were included, last month's sales would be 1,534 units.
But early signs have emerged that the tougher new rules, which include a sellers' stamp duty of up to 16 per cent, might have dampened sales activity and prompted some buyers to rethink their purchases.
Mr Li Hiaw Ho, executive director of CB Richard Ellis (CBRE) Research, can point to about 30 cancellations for units at new launches at The Tennery, Robinson Suites and the Prive last month.
Last month's lower sales could also be due to the measures weeding out purchases by short-term investors. Genuine buyers who bought either for occupation or long-term investment were likely to have made up January's figures, said Mr Li.
Jones Lang LaSalle's (JLL) head of research for South-east Asia, Dr Chua Yang Liang, added that new projects launched last month generally saw a take-up rate of under 50 per cent.
But Spottiswoode 18 and Loft@Holland, which have a large number of so-called shoebox apartments of less than 500 sq ft, were some of the exceptions, with more than 80 per cent of units launched last month snapped up.
These small-sized flats saw robust sales as their lower overall price attracts both owner-occupiers and investors, said Mr Png Poh Soon, Knight Frank's head of research and consultancy.
Most homes sold last month were in the suburban and city fringe areas. The city fringe was especially popular, with sales up 42 per cent to 401 units compared with December's numbers.
'The provides support...to our view that prime properties are likely to see better performances this year as savvy investors return to pick up bargains in this segment of the market,' said JLL's Dr Chua.
The luxury market also enjoyed a fair level of interest, particularly projects that were newly completed or approaching completion, said CBRE's Mr Li.
The most expensive properties sold last month were three units of Scotts Square, which went for a median price of $4,621 per sq ft (psf), and a unit of The Orchard Residences at $4,258 psf.
OrangeTee Research, however, found that islandwide median prices inched up 1.8 per cent to $1,573 psf from the previous month. This could be due to the large number of shoebox apartments being sold, which generally have a relatively higher psf price.
Experts say that current market sentiment may not be easily subdued in the short term as the vibrant buying has been driven largely by record low interest rates and an economy flush with cash.
The brakes might be applied when interest rates start to rise and an increase in supply enters the market in the next few quarters from the recent government land sales, said Ms Christine Sun, senior manager at Savills Research & Consultancy.
'As it stands, the cumulative units launched but unsold have been increasing over the past few months, indicating that supply has already started to outstrip demand...Therefore, some downward pressure on mass-market home prices could be expected in the months ahead,' she said.
Knight Frank's Mr Poh estimates that between 800 and 900 homes will be bought this month. Propnex chief executive Mohamed Ismail expects close to 1,000, as almost 500 units have already been sold, he said.
Last month's top-selling projects included Spottiswoode 18, with 204 units sold at a median price of $1,992 psf, and Canberra Residences, where 155 flats went at a median price of $831 psf.
esthert@sph.com.sg
Private home sales feeling the chill of cooling measures
January numbers down 11%, but still higher than expected by analysts
By Esther Teo
PRIVATE home sales stayed buoyant last month, but experts believe the cooling measures imposed in the middle of the month will likely take some of the heat out of the market.
That will not be apparent until this month's numbers are released next month, but figures out yesterday have given the industry plenty to digest.
They showed that 1,189 new units were sold last month, 11 per cent down on December and nearly 40 per cent lower than November, but higher than expected by market watchers.
If sales at executive condominium estates such as Prive and Austville Residences were included, last month's sales would be 1,534 units.
But early signs have emerged that the tougher new rules, which include a sellers' stamp duty of up to 16 per cent, might have dampened sales activity and prompted some buyers to rethink their purchases.
Mr Li Hiaw Ho, executive director of CB Richard Ellis (CBRE) Research, can point to about 30 cancellations for units at new launches at The Tennery, Robinson Suites and the Prive last month.
Last month's lower sales could also be due to the measures weeding out purchases by short-term investors. Genuine buyers who bought either for occupation or long-term investment were likely to have made up January's figures, said Mr Li.
Jones Lang LaSalle's (JLL) head of research for South-east Asia, Dr Chua Yang Liang, added that new projects launched last month generally saw a take-up rate of under 50 per cent.
But Spottiswoode 18 and Loft@Holland, which have a large number of so-called shoebox apartments of less than 500 sq ft, were some of the exceptions, with more than 80 per cent of units launched last month snapped up.
These small-sized flats saw robust sales as their lower overall price attracts both owner-occupiers and investors, said Mr Png Poh Soon, Knight Frank's head of research and consultancy.
Most homes sold last month were in the suburban and city fringe areas. The city fringe was especially popular, with sales up 42 per cent to 401 units compared with December's numbers.
'The provides support...to our view that prime properties are likely to see better performances this year as savvy investors return to pick up bargains in this segment of the market,' said JLL's Dr Chua.
The luxury market also enjoyed a fair level of interest, particularly projects that were newly completed or approaching completion, said CBRE's Mr Li.
The most expensive properties sold last month were three units of Scotts Square, which went for a median price of $4,621 per sq ft (psf), and a unit of The Orchard Residences at $4,258 psf.
OrangeTee Research, however, found that islandwide median prices inched up 1.8 per cent to $1,573 psf from the previous month. This could be due to the large number of shoebox apartments being sold, which generally have a relatively higher psf price.
Experts say that current market sentiment may not be easily subdued in the short term as the vibrant buying has been driven largely by record low interest rates and an economy flush with cash.
The brakes might be applied when interest rates start to rise and an increase in supply enters the market in the next few quarters from the recent government land sales, said Ms Christine Sun, senior manager at Savills Research & Consultancy.
'As it stands, the cumulative units launched but unsold have been increasing over the past few months, indicating that supply has already started to outstrip demand...Therefore, some downward pressure on mass-market home prices could be expected in the months ahead,' she said.
Knight Frank's Mr Poh estimates that between 800 and 900 homes will be bought this month. Propnex chief executive Mohamed Ismail expects close to 1,000, as almost 500 units have already been sold, he said.
Last month's top-selling projects included Spottiswoode 18, with 204 units sold at a median price of $1,992 psf, and Canberra Residences, where 155 flats went at a median price of $831 psf.
esthert@sph.com.sg
ST Forum : En bloc interest: Law requires conflict of interest declaration
15 Feb 2011,
En bloc interest: Law requires conflict of interest declaration
MS GRACE Francis suggested that those interested in running for office in an estate declare non-conflict of interest ("En bloc roadblocks"; last Thursday).
With the amendments to the Land Titles (Strata) Act in 2010, candidates standing for election to the collective sale committee (CSC) and any existing CSC members are required to declare any conflict of interest. This includes any direct or indirect interest in entities such as property developer and property consultant, and the extent of ownership they or persons connected to them (such as immediate family members) have in the strata development.
Ms Francis also commented that there are pro-en bloc residents who join the estate's management corporation (MC) council and oppose attempts to improve the estate.
Under the Building Maintenance and Strata Management Act, the MC council is duty-bound to ensure that the estate is well-maintained and kept in a state of good and serviceable repair.
Should the MC council fail to perform its duties, subsidiary proprietors/owners can seek redress through the Strata Titles Boards or the court to compel the MC council to perform its duties.
Chong Wan Yieng (Ms)
Director
Corporate Communications Division
Ministry of Law
En bloc interest: Law requires conflict of interest declaration
MS GRACE Francis suggested that those interested in running for office in an estate declare non-conflict of interest ("En bloc roadblocks"; last Thursday).
With the amendments to the Land Titles (Strata) Act in 2010, candidates standing for election to the collective sale committee (CSC) and any existing CSC members are required to declare any conflict of interest. This includes any direct or indirect interest in entities such as property developer and property consultant, and the extent of ownership they or persons connected to them (such as immediate family members) have in the strata development.
Ms Francis also commented that there are pro-en bloc residents who join the estate's management corporation (MC) council and oppose attempts to improve the estate.
Under the Building Maintenance and Strata Management Act, the MC council is duty-bound to ensure that the estate is well-maintained and kept in a state of good and serviceable repair.
Should the MC council fail to perform its duties, subsidiary proprietors/owners can seek redress through the Strata Titles Boards or the court to compel the MC council to perform its duties.
Chong Wan Yieng (Ms)
Director
Corporate Communications Division
Ministry of Law
ST : Property agent jailed for cheating and forgery
15 Feb 2011,
Property agent jailed for cheating and forgery
By Khushwant Singh
BETWEEN November 2007 and February last year, property agent Anika Priyadharshini cheated clients and credit companies of nearly $292,000.
Priyadharshini, 38, was jailed 41/2 years by a district court yesterday.
The mother of three, who is twice divorced, pleaded guilty to 23 charges. The judge took into consideration 44 other charges when passing sentence.
She was an agent with DTZ Debenham Tie Leung when she met Ms Lohambal Doraisamy, 49, in a temple in late 2008.
In December that year, Priyadharshini claimed that she had been able to convince a seller of a Bukit Panjang flat to lower his asking price by $20,000.
She then pocketed the $40,000 that Ms Doraisamy handed over to her as a deposit to buy the unit.
A month later, she convinced Ms Doraisamy to hand over $14,390 for stamp duties.
During that period, the agent also led a computer programmer to believe that she had a flat to rent out. She then disappeared with the $4,410 he gave her as the rental and security deposit.
She also forged court papers to state that she would receive the full proceeds from the sale of her matrimonial flat after her divorce proceedings. This allowed her to get a $15,000 loan from a licensed moneylender in High Street Plaza.
Priyadharshini, a bankrupt, also lied on the loan application form about her bankruptcy status.
The court heard that she used her boyfriend's particulars to apply for credit cards and used these for fraudulent purchases amounting to $9,680.
She also used the identity cards of her clients to subscribe to cellphone plans.
Police recovered only $163,000 from her. Defence counsel Sunil Sudheesan said that she would be getting $57,000 from the sale of a flat and this would be used to pay the credit companies.
For each cheating offence, she could have been jailed for up to 10 years and fined up to $10,000.
Property agent jailed for cheating and forgery
By Khushwant Singh
BETWEEN November 2007 and February last year, property agent Anika Priyadharshini cheated clients and credit companies of nearly $292,000.
Priyadharshini, 38, was jailed 41/2 years by a district court yesterday.
The mother of three, who is twice divorced, pleaded guilty to 23 charges. The judge took into consideration 44 other charges when passing sentence.
She was an agent with DTZ Debenham Tie Leung when she met Ms Lohambal Doraisamy, 49, in a temple in late 2008.
In December that year, Priyadharshini claimed that she had been able to convince a seller of a Bukit Panjang flat to lower his asking price by $20,000.
She then pocketed the $40,000 that Ms Doraisamy handed over to her as a deposit to buy the unit.
A month later, she convinced Ms Doraisamy to hand over $14,390 for stamp duties.
During that period, the agent also led a computer programmer to believe that she had a flat to rent out. She then disappeared with the $4,410 he gave her as the rental and security deposit.
She also forged court papers to state that she would receive the full proceeds from the sale of her matrimonial flat after her divorce proceedings. This allowed her to get a $15,000 loan from a licensed moneylender in High Street Plaza.
Priyadharshini, a bankrupt, also lied on the loan application form about her bankruptcy status.
The court heard that she used her boyfriend's particulars to apply for credit cards and used these for fraudulent purchases amounting to $9,680.
She also used the identity cards of her clients to subscribe to cellphone plans.
Police recovered only $163,000 from her. Defence counsel Sunil Sudheesan said that she would be getting $57,000 from the sale of a flat and this would be used to pay the credit companies.
For each cheating offence, she could have been jailed for up to 10 years and fined up to $10,000.
ST : Parents suing son over house ownership
15 Feb 2011,
Parents suing son over house ownership
They say son is holding property in trust; he says it was a gift to him
By Selina Lum
A MARRIED couple are suing their younger son over a terrace house in Joo Chiat.
Mr Ang Kim Sai and Madam Ang Gim Yen, both 86, said they are the actual owners and that their son, Mr Ang Kok Beng, 57, is holding the property in trust for them. But the son contended that it was given to him when it was transferred to his name in 1983.
The double-storey house in Langsat Road was bought for about $100,000 in 1974 and valued at $2.5 million in 2009.
The 10-day hearing opened in the High Court yesterday.
Mr Ang Kim Sai, a former Chinese physician, and his wife, a former teacher, have four children, one of whom has died. The elder Mr Ang also has a child with his mistress.
At the time, the couple's understanding of the Housing Board policy was that they were prohibited from being registered as legal owners of the house because they already owned an HDB flat.
They decided to buy the house in the names of their elder son Ang Thye Peng and eldest daughter Ang Keng Hui.
They paid the entire purchase price, stamp fees and legal costs.
In 1977, the daughter's name was withdrawn because she wanted to buy an HDB flat with her own family.
In 1983, the elder son's name was withdrawn too and the house was transferred to Mr Ang Kok Beng.
Mr Ang Thye Peng testified in court yesterday that he moved out because his wife and his mother could not get along and his mother wanted to rent out the master bedroom of the house.
In February last year, the couple proposed in a note to Mr Ang Kok Beng, a sub-contractor, that the house be sold and he be given 46.6 per cent of the sale proceeds, with the rest distributed among the other siblings and grandchildren.
He refused and the couple instructed lawyers to start legal action against him.
It was then discovered that in December 2009, Mr Ang Kok Beng had applied for a replacement title certificate to be issued to him when he made a statutory declaration that he had lost the title deed.
The couple contended that, in doing so, he was wrongfully trying to "convert the property to his own".
Mr Ang Kok Beng asserted that when the property was transferred to his name, his mother "specifically told" him it was a gift as he was the youngest male child in the family.
The couple denied this and said there was no reason to give him the house, favouring him over the other children.
The couple argued that even after the property was registered in Mr Ang Kok Beng's name, the title deed and all other documents were kept by them.
Madam Ang also controlled all affairs relating to the house, like arranging payments for the maintenance, property tax and utilities. She also sought tenants and collected rent.
But Mr Ang Kok Beng contended that he agreed to allow his mother to collect rent and that the original title was kept with her for convenience.
He argued that if his parents intended for him to hold the house in trust for them, why had lawyers prepared a transfer document instead of a trust deed?
He also questioned why, if his mother still considered herself the beneficial owner of the house, she had not mentioned the property in a will she made in 1998.
The trial continues.
selinal@sph.com.sg
The house in Langsat Road was bought for about $100,000 in 1974 and valued at $2.5 million in 2009. -- ST PHOTO: SAMUEL HE
Parents suing son over house ownership
They say son is holding property in trust; he says it was a gift to him
By Selina Lum
A MARRIED couple are suing their younger son over a terrace house in Joo Chiat.
Mr Ang Kim Sai and Madam Ang Gim Yen, both 86, said they are the actual owners and that their son, Mr Ang Kok Beng, 57, is holding the property in trust for them. But the son contended that it was given to him when it was transferred to his name in 1983.
The double-storey house in Langsat Road was bought for about $100,000 in 1974 and valued at $2.5 million in 2009.
The 10-day hearing opened in the High Court yesterday.
Mr Ang Kim Sai, a former Chinese physician, and his wife, a former teacher, have four children, one of whom has died. The elder Mr Ang also has a child with his mistress.
At the time, the couple's understanding of the Housing Board policy was that they were prohibited from being registered as legal owners of the house because they already owned an HDB flat.
They decided to buy the house in the names of their elder son Ang Thye Peng and eldest daughter Ang Keng Hui.
They paid the entire purchase price, stamp fees and legal costs.
In 1977, the daughter's name was withdrawn because she wanted to buy an HDB flat with her own family.
In 1983, the elder son's name was withdrawn too and the house was transferred to Mr Ang Kok Beng.
Mr Ang Thye Peng testified in court yesterday that he moved out because his wife and his mother could not get along and his mother wanted to rent out the master bedroom of the house.
In February last year, the couple proposed in a note to Mr Ang Kok Beng, a sub-contractor, that the house be sold and he be given 46.6 per cent of the sale proceeds, with the rest distributed among the other siblings and grandchildren.
He refused and the couple instructed lawyers to start legal action against him.
It was then discovered that in December 2009, Mr Ang Kok Beng had applied for a replacement title certificate to be issued to him when he made a statutory declaration that he had lost the title deed.
The couple contended that, in doing so, he was wrongfully trying to "convert the property to his own".
Mr Ang Kok Beng asserted that when the property was transferred to his name, his mother "specifically told" him it was a gift as he was the youngest male child in the family.
The couple denied this and said there was no reason to give him the house, favouring him over the other children.
The couple argued that even after the property was registered in Mr Ang Kok Beng's name, the title deed and all other documents were kept by them.
Madam Ang also controlled all affairs relating to the house, like arranging payments for the maintenance, property tax and utilities. She also sought tenants and collected rent.
But Mr Ang Kok Beng contended that he agreed to allow his mother to collect rent and that the original title was kept with her for convenience.
He argued that if his parents intended for him to hold the house in trust for them, why had lawyers prepared a transfer document instead of a trust deed?
He also questioned why, if his mother still considered herself the beneficial owner of the house, she had not mentioned the property in a will she made in 1998.
The trial continues.
selinal@sph.com.sg
The house in Langsat Road was bought for about $100,000 in 1974 and valued at $2.5 million in 2009. -- ST PHOTO: SAMUEL HE
ST : HDB scraps scheme for siblings to buy flats
15 Feb 2011,
HDB scraps scheme for siblings to buy flats
It's not needed since subletting market has been liberalised: MND
By Jessica Cheam
THE Government has moved quickly to scrap a scheme that allows siblings whose parents live overseas to buy HDB flats, after unhappiness surfaced online recently over how it seemed to favour permanent residents over citizens.
Senior Minister of State for National Development Grace Fu yesterday told Parliament that the Housing Board would discontinue the scheme with immediate effect as it "is no longer necessary".
It was introduced in 1990 to enable unmarried Singaporean and PR siblings to buy an HDB flat. To qualify, their parents cannot own another HDB flat and must reside overseas.
"This was necessary then because the sublet market for HDB flats and rooms was limited, and there were few viable housing options for these siblings," Ms Fu said in response to Marine Parade GRC MP Lim Biow Chuan's question.
Under the scheme, Singaporean siblings could buy a new or resale flat while PR siblings could buy only a resale flat.
Ms Fu also revealed that only about 300 such cases got the go-ahead each year. That is less than 1 per cent of total flat transactions.
But there was no longer a need for the scheme, she said, because "with the liberalisation of the subletting market for HDB flats over the years, unmarried Singaporean or PR siblings whose parents are residing overseas can now rent a room or a small flat from the open market".
The HDB first announced a review of the scheme last month, after The Straits Times sent in questions about netizens' perception that the scheme enabled unmarried PR siblings above the age of 21 to buy HDB resale flats, whereas Singapore citizen siblings could not.
The HDB later clarified that citizen siblings whose parents live abroad can also apply to buy resale flats and that all such applications will be considered on a case-by-case basis.
But now, the Government has decided to do away with that scheme altogether.
Citizens who are single and aged 35 or older can buy a resale flat under the Single Singapore Citizen Scheme. Unmarried siblings whose parents are dead can also buy flats under the Orphans Scheme.
When contacted, Forum letter writer Tony Tan Keng Hong, 33, who raised this issue previously, said he was glad that the scheme has been discontinued.
"I think it's a fair policy. HDB flats are meant for families primarily," he said.
During yesterday's Parliament sitting, National Development Minister Mah Bow Tan also fielded questions on the property cooling measures introduced last month. He said they were "pre-emptive in nature" as the Government wanted to act before a property bubble formed.
It was too early to say how effective the measures have been. The Government "will continue to monitor the property market closely", he added.
Mr Mah revealed last Sunday that the median cash-over-valuation for HDB resale transactions in January has dipped to $20,000, from $23,000 in the fourth quarter of last year.
jcheam@sph.com.sg
HDB scraps scheme for siblings to buy flats
It's not needed since subletting market has been liberalised: MND
By Jessica Cheam
THE Government has moved quickly to scrap a scheme that allows siblings whose parents live overseas to buy HDB flats, after unhappiness surfaced online recently over how it seemed to favour permanent residents over citizens.
Senior Minister of State for National Development Grace Fu yesterday told Parliament that the Housing Board would discontinue the scheme with immediate effect as it "is no longer necessary".
It was introduced in 1990 to enable unmarried Singaporean and PR siblings to buy an HDB flat. To qualify, their parents cannot own another HDB flat and must reside overseas.
"This was necessary then because the sublet market for HDB flats and rooms was limited, and there were few viable housing options for these siblings," Ms Fu said in response to Marine Parade GRC MP Lim Biow Chuan's question.
Under the scheme, Singaporean siblings could buy a new or resale flat while PR siblings could buy only a resale flat.
Ms Fu also revealed that only about 300 such cases got the go-ahead each year. That is less than 1 per cent of total flat transactions.
But there was no longer a need for the scheme, she said, because "with the liberalisation of the subletting market for HDB flats over the years, unmarried Singaporean or PR siblings whose parents are residing overseas can now rent a room or a small flat from the open market".
The HDB first announced a review of the scheme last month, after The Straits Times sent in questions about netizens' perception that the scheme enabled unmarried PR siblings above the age of 21 to buy HDB resale flats, whereas Singapore citizen siblings could not.
The HDB later clarified that citizen siblings whose parents live abroad can also apply to buy resale flats and that all such applications will be considered on a case-by-case basis.
But now, the Government has decided to do away with that scheme altogether.
Citizens who are single and aged 35 or older can buy a resale flat under the Single Singapore Citizen Scheme. Unmarried siblings whose parents are dead can also buy flats under the Orphans Scheme.
When contacted, Forum letter writer Tony Tan Keng Hong, 33, who raised this issue previously, said he was glad that the scheme has been discontinued.
"I think it's a fair policy. HDB flats are meant for families primarily," he said.
During yesterday's Parliament sitting, National Development Minister Mah Bow Tan also fielded questions on the property cooling measures introduced last month. He said they were "pre-emptive in nature" as the Government wanted to act before a property bubble formed.
It was too early to say how effective the measures have been. The Government "will continue to monitor the property market closely", he added.
Mr Mah revealed last Sunday that the median cash-over-valuation for HDB resale transactions in January has dipped to $20,000, from $23,000 in the fourth quarter of last year.
jcheam@sph.com.sg
ST : Showing the real picture in that dream home
15 Feb 2011,
Showing the real picture in that dream home
THE Urban Redevelopment Authority's (URA's) recent announcement that it is reviewing its rules for developers to provide "more accurate and transparent information on housing projects" is indeed welcome.
In particular, its review of the Housing Developers (Control & Licensing) Act and Housing Developers Rules will ensure that showflats look like the apartments that eventually get built so that buyers get what they pay for.
The move will effectively stop developers who take artistic licence with display homes by removing structural walls and columns and placing ceilings high to make units look bigger than they will actually be. They would also now have to represent accurately the presence of bomb shelters in the units. This is especially timely as property, despite the recent cooling measures introduced by the Government, is still a hot buy, whether it be for keeps or as an investment.
Also, the recent popularity of shoebox flats - those under 500 sq ft in size - has upped the ante in creative marketing by some developers. Some smaller flats even brand themselves grandly as SOHO flats - for both residential and office use - when they are merely small apartments.
Showflats have always indulged in some measure of smoke and mirrors to mask awkward spaces and unsightly flaws. They are meant to dazzle potential buyers with their bright lights, glass partitions and crystal chandeliers, to give the illusion that there is more than meets the eye. And this creative obfuscation has largely been an acceptable part of the wooing process. However, the tiny size of shoebox flats has thrown fiction harshly against fact as more and more disgruntled buyers have been shocked by the reality of their purchases. These are also buyers who have paid more per square foot for their smaller units in order to grab their slice of the property pie at an affordable budget.
Ultimately, buyers should take responsibility for their decisions and examine closely their proposed purchases before committing themselves to hundreds of thousands of dollars. That said, the property market, especially in Singapore, has never been driven purely by logic, but also by sheer emotion, which makes the URA's decision all the more crucial.
As long as property, which necessitates a large capital outlay, is seen as the holy grail of investments, taking up a huge chunk of one's savings, one definitely has a right to transparency, which includes the accurate representation of showflats. Marketing can legitimately soften the edges perhaps, but not blur reality.
Showing the real picture in that dream home
THE Urban Redevelopment Authority's (URA's) recent announcement that it is reviewing its rules for developers to provide "more accurate and transparent information on housing projects" is indeed welcome.
In particular, its review of the Housing Developers (Control & Licensing) Act and Housing Developers Rules will ensure that showflats look like the apartments that eventually get built so that buyers get what they pay for.
The move will effectively stop developers who take artistic licence with display homes by removing structural walls and columns and placing ceilings high to make units look bigger than they will actually be. They would also now have to represent accurately the presence of bomb shelters in the units. This is especially timely as property, despite the recent cooling measures introduced by the Government, is still a hot buy, whether it be for keeps or as an investment.
Also, the recent popularity of shoebox flats - those under 500 sq ft in size - has upped the ante in creative marketing by some developers. Some smaller flats even brand themselves grandly as SOHO flats - for both residential and office use - when they are merely small apartments.
Showflats have always indulged in some measure of smoke and mirrors to mask awkward spaces and unsightly flaws. They are meant to dazzle potential buyers with their bright lights, glass partitions and crystal chandeliers, to give the illusion that there is more than meets the eye. And this creative obfuscation has largely been an acceptable part of the wooing process. However, the tiny size of shoebox flats has thrown fiction harshly against fact as more and more disgruntled buyers have been shocked by the reality of their purchases. These are also buyers who have paid more per square foot for their smaller units in order to grab their slice of the property pie at an affordable budget.
Ultimately, buyers should take responsibility for their decisions and examine closely their proposed purchases before committing themselves to hundreds of thousands of dollars. That said, the property market, especially in Singapore, has never been driven purely by logic, but also by sheer emotion, which makes the URA's decision all the more crucial.
As long as property, which necessitates a large capital outlay, is seen as the holy grail of investments, taking up a huge chunk of one's savings, one definitely has a right to transparency, which includes the accurate representation of showflats. Marketing can legitimately soften the edges perhaps, but not blur reality.
ST : Robust sales at new launches
15 Feb 2011,
Robust sales at new launches
270 out of 384 units sold at Waterfront Isle; sales good at other projects too
By Cheryl Lim
SALES have been robust at new property launches across the island, with buyers especially keen on Waterfront Isle near Bedok Reservoir.
Of the 384 flats released for sale at the 561-unit estate, 270 have been sold.
Prices were about $922 per sq ft (psf) when the condominium - a joint venture by Far East Organization and Frasers Centrepoint - was launched on Feb 5, but have since risen to $936 psf.
Waterfront Isle's one-bedroom units of 592 sq ft are selling from $575,000. The Straits Times understands that the prices of some units with a reservoir view have climbed to an average of $1,050 psf.
Preview sales at other new developments paint an equally robust picture.
Oxley Holdings' Loft@Stevens in Stevens Road has sold between 70 per cent and 80 per cent of its 44 units. Most of the apartments at this freehold condo in District 10 are small one-bedders between 335 sq ft and 570 sq ft. Agents said only two or three of these units were left after yesterday's preview sale.
The six-storey development has a mix of one- and two-bedders with prices starting at $720,000 for a 335 sq ft unit.
Nin Residences in Pheng Geck Avenue in Potong Pasir was also well-received, with almost half of the 219 units sold. The 99-year leasehold project is being developed by Qingjian Realty and comprises two blocks, one of five storeys, the other 19.
Nin Residences has one-, two- and three-bedroom units with prices between $1,200 psf and $1,300 psf. A 452 sq ft one-bedder starts from around $700,000.
Meanwhile, experts are about to get a better picture of the market.
The Urban Redevelopment Authority said developers sold 1,332 private homes in December. But market watchers predict the latest figures for last month, set to be out today, will reflect a more subdued market.
Mr Eugene Lim, key executive officer at ERA, expects sales to have dipped below the 1,000 mark.
Although sales last month were off to a strong start, they were dampened in the second half of the month by the twin factors of festive celebrations and the Government's cooling measures, said PropNex chief executive Mohamed Ismail.
ERA's Mr Lim said a clearer snapshot of the market might emerge next month, with this month's data likely to show a carry-over effect from the Chinese New Year period.
"Several projects like The Tennery, Canberra Residences and Waterfront Isle have chalked up respectable sales in the current market climate," said Mr Lim.
"This shows speculators are being priced out and there is a ready pool of serious buyers, with most understanding that property is not a short-term investment."
cherlim@sph.com.sg
An artist's impression of the 561-unit Waterfront Isle near Bedok Reservoir, which has released 384 flats for sale. Its one- bedroom units of 592 sq ft are selling from $575,000. -- PHOTO: FAR EAST ORGANIZATION
Robust sales at new launches
270 out of 384 units sold at Waterfront Isle; sales good at other projects too
By Cheryl Lim
SALES have been robust at new property launches across the island, with buyers especially keen on Waterfront Isle near Bedok Reservoir.
Of the 384 flats released for sale at the 561-unit estate, 270 have been sold.
Prices were about $922 per sq ft (psf) when the condominium - a joint venture by Far East Organization and Frasers Centrepoint - was launched on Feb 5, but have since risen to $936 psf.
Waterfront Isle's one-bedroom units of 592 sq ft are selling from $575,000. The Straits Times understands that the prices of some units with a reservoir view have climbed to an average of $1,050 psf.
Preview sales at other new developments paint an equally robust picture.
Oxley Holdings' Loft@Stevens in Stevens Road has sold between 70 per cent and 80 per cent of its 44 units. Most of the apartments at this freehold condo in District 10 are small one-bedders between 335 sq ft and 570 sq ft. Agents said only two or three of these units were left after yesterday's preview sale.
The six-storey development has a mix of one- and two-bedders with prices starting at $720,000 for a 335 sq ft unit.
Nin Residences in Pheng Geck Avenue in Potong Pasir was also well-received, with almost half of the 219 units sold. The 99-year leasehold project is being developed by Qingjian Realty and comprises two blocks, one of five storeys, the other 19.
Nin Residences has one-, two- and three-bedroom units with prices between $1,200 psf and $1,300 psf. A 452 sq ft one-bedder starts from around $700,000.
Meanwhile, experts are about to get a better picture of the market.
The Urban Redevelopment Authority said developers sold 1,332 private homes in December. But market watchers predict the latest figures for last month, set to be out today, will reflect a more subdued market.
Mr Eugene Lim, key executive officer at ERA, expects sales to have dipped below the 1,000 mark.
Although sales last month were off to a strong start, they were dampened in the second half of the month by the twin factors of festive celebrations and the Government's cooling measures, said PropNex chief executive Mohamed Ismail.
ERA's Mr Lim said a clearer snapshot of the market might emerge next month, with this month's data likely to show a carry-over effect from the Chinese New Year period.
"Several projects like The Tennery, Canberra Residences and Waterfront Isle have chalked up respectable sales in the current market climate," said Mr Lim.
"This shows speculators are being priced out and there is a ready pool of serious buyers, with most understanding that property is not a short-term investment."
cherlim@sph.com.sg
An artist's impression of the 561-unit Waterfront Isle near Bedok Reservoir, which has released 384 flats for sale. Its one- bedroom units of 592 sq ft are selling from $575,000. -- PHOTO: FAR EAST ORGANIZATION
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