Property buyers who entered into agreements to purchase homes from developers can now apply for temporary legal protection should they face difficulties making payments because of the COVID-19 pandemic. The move is an extension of the COVID-19 (Temporary Measures) Bill passed last month, which provides temporary relief from certain legal action for non-residential leases, construction or supply...
General
Resale volume for condominiums in Singapore tumbled 57.3 per cent in April to 309 units resold, compared with 723 units in March, according to flash estimates from real estate portal SRX Property released on Tuesday. Year on year, resale volume was 62.2 per cent lower and 66.8 per cent lower than the five-year average volumes for the month of April. The outside central region (OCR) accounted for the...
Home furnishing store IKEA announced on Monday (May 11) that it’s opening a new small-store concept – the first of its kind in Southeast Asia – at Jem in 2021. This will make it the third IKEA store in Singapore, with the other two at Tampines and Alexandra. At 6,500 sq m, the new small-store concept will span three floors in the shopping mall. A spokesperson from Landlease, the mall's...
Chinese e-commerce giant Alibaba Group has agreed to buy a 50 per cent stake in AXA Tower in a deal that values the property at S$1.68 billion, a boost of confidence to the Singapore market amid a downturn caused by the COVID-19 coronavirus pandemic. A share purchase agreement was made between a consortium of investors led by Perennial Real Estate Holdings to sell the stake to the Singapore arm of...
Married Singaporean couples who bought or plan to buy a second home over the next few weeks will now have more time to sell their first property and claim back their Additional Buyer’s Stamp Duty (ABSD). This is part of the Government's temporary relief measures for the property sector for individuals affected by the COVID-19 pandemic. Under the current ABSD regime, a Singaporean married couple...
A executive condominium site in Yishun has been released for sale by public tender, in what analysts noted is the first such sale in the area in about six years. The 99-year leasehold site is located at Yishun Avenue 9 and can potentially yield about 600 homes, said the Housing and Development Board (HDB) in a press release on Thursday (Apr 30). The 21,514 sq m site has a maximum permissible gross...
Three shophouses in Bugis and the central business district have been put on the market, sole marketing agent PropNex announced on Wednesday. On 534 North Bridge Road is a corner shophouse with a guide price starting from S$10 million, while the 60 South Bridge Road property's guide price is at least S$7 million. Both have been launched for sale by tender. Meanwhile, the shophouse on 96 Amoy Street...
Sales of new private homes in Singapore plunged in the first quarter of the year along with a dip in prices, amid disruption from the COVID-19 pandemic, data showed on Friday (Apr 24). Expectations are that the private property market will deteriorate even further, as the "circuit breaker" measures take hold. Developers sold 2,149 homes (excluding executive condominiums) in the first three months of...
Fewer Housing and Development Board (HDB) flats were sold in the resale market in the first quarter of this year amid the COVID-19 outbreak, official figures released on Friday (Apr 24) showed. A total of 5,893 flats were sold in the January to March period, a decline of 7 per cent from the 6,339 flats sold in the fourth quarter of last year. However, when compared on a year-on-year basis, the number...
Sales of new private homes fell in March due to disruption from the COVID-19 pandemic, as developers refrained from launching new projects and potential foreign buyers were not able to visit Singapore to view the properties. Developers sold 660 homes – excluding executive condominiums – last month, 32.4 per cent lower than the 976 units sold in February, data from the Urban Redevelopment Authority...