Daily Archives: 2 Oct 2009

Corrections IN our article ‘Faux furniture fad or fab?’

Posted on 2 Oct 2009 | Comments Off on Corrections IN our article ‘Faux furniture fad or fab?’

IN our article ‘Faux furniture fad or fab?’ (BT, Sept 24), we said that SPACE acquires replicas of original designs from licensed manufacturers such as Vitra, Carl Hansen and Herman Miller. We also said that it offers licensed replicas for sale. SPACE has pointed out that these brands are actually the licensed manufacturers of original designs and the products are original, not replicas. It also said it has from the outset positioned itself as a retailer of original products.

In the report ‘Li Heng to float assets in HK, stay listed in S’pore’ (BT, Oct 1), the company’s main business operations are in China, not Hong Kong.

We are sorry for the errors.

Source : Business Times – 2 Oct 2009

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More new HDB flats as resale prices climb

Posted on 2 Oct 2009 | Comments Off on More new HDB flats as resale prices climb

HDB resale prices are now at their highest level ever

The Housing and Development Board (HDB) is stepping up its supply of new flats to meet increased demand for public housing. The news came as flash estimates showed that prices of resale HDB flats rose 3.2 per cent in Q3.

The price increase comes after a 1.4 per cent rebound in Q2 following a marginal drop of 0.8 per cent in Q1. This means HDB resale prices are now at their highest level ever. The previous two peaks were in Q4 2008 and Q4 1996.

Analysts attributed the growth to the greater demand for resale flats in recent months.

Observed Eugene Lim, associate director for ERA Asia Pacific: ‘The surge in demand for HDB resale flats and the consequent rise in prices have been fuelled by a mix of upgraders, downgraders and the increasing population of permanent residents.’

There is also a ‘trickle-down’ effect from the growth in private property prices, which climbed 15.9 per cent in Q3.

But plans to boost the supply of new flats could mean that the price increase in the resale price index could see some moderation in future, said Minister for National Development Mah Bow Tan, who announced HDB’s plans yesterday. Continue reading →

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