Private home buyers remain unfazed despite the global economic downturn and the government's recent proposal to tax speculators who sell more than one property within a four-year period. Freehold condominium "The Gale" in Loyang has certainly caused quite a storm. Prices average S$700 per square foot and so far, half its 330 units have been snapped up. It is an encouraging sign for developer Hong Leong...
2009
It may be best to gather more public feedback before changing the tax policy on profits earned from property sales, say analysts. Analysts Channel NewsAsia spoke with said that it is because some are concerned the proposed amendment may hurt the property sector and Singapore banks. The Singapore residential property market is showing signs of picking up, but analysts say the proposed tax amendment may...
The delay in the opening of Marina Bay Sands integrated resort could potentially mean millions of dollars in losses. Analysts say that it is not just the integrated resort that stands to lose, but Singapore could potentially see lower tourism receipts as a result. The opening of Marina Bay Sands at year-end was seen as one of the highlights in Singapore's tourism calendar, in what has been a dismal year...
An indication of just how market confidence has turned in a span of just two months can be seen in the sale of the penthouse at Arcadia. The 7,503 sq ft unit was first put up for sale by auction at the end of April. The indicative price was $6 million then, but there were no bidders. However, according to a caveat lodged with URA Realis on June 8, the penthouse has been sold for $6.25 million. Also in...
Freehold modern luxury tucked away in an exclusive enclave at 8 Cairnhill Rise. Each aspect of the development is thoughtfully crafted, with exquisite attention to detail. Located in prestigious District 9, the luxurious 50-unit development is a short stroll from Orchard Road, Singapore's shopping and entertainment belt. Designed by world-renowned US architects Arquitectonica, Alba's unique and...
marcus evans summits, is pleased to announce Lushhome Media as a privileged media partner at the annual Asian Real Estate and Investments Summit , on October 2009, taking place at the prestigious Hong Kong Gold Coast Resort, Kowloon, Hong Kong. Lushhomemedia.com is an informational site that provides the latest news, reviews and opinions regarding real estate. Lushhome professional real estate services...
Proposed change under spotlight: Individuals who sell a property on or after Jan 1, 2010 will automatically not be subject to income tax, if he has not sold other properties in the previous four years. Even if he has, Iras will determine if a tax on income should be levied, just like existing practice. What the situation is now: When an individual sells a property for a profit, Iras decides if the gain...
40,000 new private homes will enter the property market in the next three to four years, according to the National Development Minister, Mah Bow Tan. He said on Thursday that more property information, such as transaction prices, would be published to keep the market efficient and ensure that home prices are based on fundamentals. Mr Mah said: "What we will do is put out complete information on how much...
The Singapore government says a proposed change to the tax policy on property transactions is not aimed at curbing speculation. It will instead give property owners some certainty. That is because property owners who do not sell properties frequently will have the assurance that they will not be taxed on the profits made from such sales. All properties, from public flats to industrial buildings, will be...
Hong Leong Holdings has said it will hold a preview of its latest development, The Gale, on Friday. It will also start taking bookings for up to 80 units during the preview. The freehold condominium in Changi has 329 units in all. At the preview, the available units will be priced from S$600 to S$700 per square foot. Buyers will also have the option to take up the Interest Absorption Scheme, under which...