Category Archives: General

Bishan residents say no to nursing home

A group of residents in Bishan are standing up against plans to build a nursing home in the neighbourhood. The 260-bed nursing home will stand six to eight-storeys high on an empty field opposite three blocks of flats in Bishan Street 13.

A signed petition by 40 residents was presented to a Ministry of Health (MOH) representative at a dialogue session on Sunday.

Some residents complained that they will lose their football field once the nursing home is built, while others said that the building will block the flow of fresh air into their homes, forcing them to use their air-conditioning units. Meanwhile, the petition claimed that the increased utility bill could amount to S$7.56 million.

One resident by the name of Seet Ker Lay said that his children play on the football field, and if the field is gone, the children will instead “play in the void deck and stain the walls”.

In response, MP for Bishan-Toa Payoh GRC, Wong Kan Seng, said that building more nursing homes is inevitable given the country’s ageing population. He added that while it’s normal for residents to oppose plans for the building, they will eventually benefit from the home’s facilities too.

Teoh Zsin Woon, Group Director of Ageing Planning at MOH, explained that building nursing homes within communities is to encourage visits from relatives. As such, the Bishan site was picked given its ideal size and proximity to public transport.

The Ministry noted that it will assess the residents’ concerns and suggestions, including looking at alternative sites.

Chinese no longer the top foreign property buyers in Singapore

Chinese buyers have lost out to Malaysians, who reclaimed top spot among foreigners buying Singapore properties despite the tough cooling measures introduced in December last year.

A report by DTZ Research revealed that the Chinese, including permanent residents (PRs), purchased 292 homes in Q1, down 54 percent from the 640 homes acquired in Q4 2011 – the lowest number in over two years.

This means that the proportion of Chinese buyers relative to non-Singaporeans fell to 23 percent from 29 percent last quarter, making it the lowest drop among all nationalities.

On the other hand, Malaysians had a high of 362 transactions, marking a 28 percent share among foreign buyers due to the larger number of Malaysian PRs in the country.

The latest measures include a 10 percent ABSD (additional buyer’s stamp duty) on all home purchases by foreigners. Meanwhile, PRs need to pay an extra three percent on their second and subsequent home purchases.

Consequently, demand from non-PR foreigners fell 75 percent to 336 units. Their proportion of the private market fell to a three- year low of six percent. PRs took a 16 percent share while Singaporeans made up the remaining 78 percent.

DTZ noted that the decline in proportion of foreign purchases post-ABSD was more drastic compared to 17 years ago when another major policy change was rolled out.

Back in Q3 1996, foreign purchases fell by a smaller margin of 57 percent, following the government’s restriction on the extension of loans to PRs and foreigners.

Source : PropertyGuru – 2012 May 28