Daily Archives: 22 Sep 2009

Marina Bay retailers belt up for a rough ride

Posted on 22 Sep 2009 | Comments Off on Marina Bay retailers belt up for a rough ride

But shorter road closures will lessen damage, they say

Retailers are bracing themselves for a rough ride when road closures kick in to facilitate the setting up and dismantling of race infrastructure for the 2009 Formula 1 (F1) Singapore Grand Prix.

While the road closures at the Marina Bay area have been whittled down from 12 days to seven this year – from midnight on Sept 23 until Sept 29 – retailers in the area are already battling weak consumer sentiment and competition from new kids on the block such as Ion Orchard and Orchard Central.

‘The Marina Bay precinct such as Suntec City and Marina Square are already facing a decline in traffic as consumers are drawn to the new malls on Orchard Road,’ said a spokesperson for Wing Tai Retail, whose portfolio includes G2000 and Topshop.

Not to mention the fact that ticket inventory for this year’s F1 race stands at 83,000, which suggests a smaller captive audience trawling the area over the race weekend (Sept 25-27) compared to the 100,000 strong crowd last year. Continue reading →

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Posted in Office / Retail / Industrial

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Staggered income ceiling worth a look

Posted on 22 Sep 2009 | Comments Off on Staggered income ceiling worth a look

I DISAGREE with Mr Lim Hing Kok’s view last Thursday, ‘Four ways to bring down flat prices’, that HDB owners be forced to leave their flats should they become ‘very successful in life’. Public housing, as a means of residence, should not be taken away from anyone.

Other factors may lead such successful people to keep their flats: large families, sentimentality for their first home, proximity to friendly neighbours and family; and even the stress of moving house.

However, Mr Lim’s suggestion of a staggered income ceiling is viable and allows families who only just exceed the $8,000 income ceiling to buy larger premium public flats.

This would free up a larger portion of their income for education and other expenses.

As for eliminating property agents from the transactional process, the HDB already provides the option of direct

buyer-seller transactions, and holds regular seminars on how to do so.

However, property agents are necessary for the market at large. A property transaction involves large sums of money and many legalities.

Real estate professionals provide an important value-added service by helping clients find a willing buyer or ideal home, and shepherding them through a transaction process many find complicated. Continue reading →

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Posted in HDB

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