Resale prices of private homes remained unchanged last month, according to Singapore Residential Price Index (SRPI) estimates, which were released on Friday (Aug 28). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices stayed flat in July from the previous month. Prices of homes in the central region, excluding small units, increased...
General
Development charge (DC) rates for industrial properties will be reduced in most areas while rates for office, retail and residential will remain unchanged in the next six months. The Ministry of National Development said in a statement on Monday (Aug 31) that DC rates for industrial properties will be lowered by between 3 per cent and 4 per cent for 87 out of 118 sectors. This will be for the six months...
With slowing tourist arrivals and an impending US interest rate hike, analysts are maintaining a cautious view on retail real estate investment trusts (REITs) in Singapore. While some banks have cut their forecast for REITs' distribution per unit, they noted that retail REITs have been largely reporting positive rental reversions. Rental reversions for retail REITs have remained resilient despite a...
One of Singapore's largest start-up communities, the Hub Singapore, unveiled its new workspace at Prinsep Street on Tuesday (Aug 25). The new and larger premise boasts 160 co-working and permanent desks, eight team rooms and flexible event spaces that can hold up to 200 people. The Hub currently connects more than 500 entrepreneurs and technical staff with Government agencies and potential investors....
China loosened restrictions on foreign investment in real estate after the yuan's depreciation reduced the appeal of Chinese property assets. Overseas companies' Chinese units and foreign nationals working and living in China can buy properties for their own use that meet "real needs," Chinese authorities including the Ministry of Commerce said in a joint statement. Requirements that foreign investors...
The increases in income ceilings for households buying new Housing and Development Board (HDB) flats and Executive Condominiums (ECs), and the Proximity Housing Grant will drive more buyers to the public-housing market and hit the private residential sector, said analysts on Sunday (Aug 23). In his National Day Rally speech, Prime Minister Lee Hsien Loong announced the raising of the income ceilings for...
More Singaporeans will be able to apply for new Housing and Development Board (HDB) flats and Executive Condominiums (ECs) now that the income ceiling for buyers has been raised to S$12,000 for new HDB flats, and S$14,000 for ECs. While the HDB is expected to be cope with the new demand, industry-watchers said that with close to 3,000 ECs in the market still unsold, this is an opportunity for private...
Families looking to buy a resale flat to live with or near their parents or children will get an additional S$20,000 to offset costs, under the new Proximity Housing Grant (PHG) aimed at getting extended families to live near each other for mutual support. This is on top of the maximum S$30,000 CPF Housing Grant first-timer families get when they purchase a resale flat, and double the S$10,000 given...
Frasers Hospitality on Friday (Aug 21) announced the purchase of a serviced residence in the northeastern Chinese city of Dalian. Frasers Hospitality, which is part of Singapore's Frasers Centrepoint, said it will pay RMB481.37 million (S$100.29 million) for the 259-unit Fraser Suites Dalian that is scheduled to open in 2017. The property will be part of the mixed-use Europark Tower development...
To further help lower-income and middle-income households afford their first homes, the Special CPF Housing Grant (SHG) will be increased. The changes, which were announced on Sunday (Aug 23) at the National Day Rally, will apply from the September Build-To-Order exercise. The household income ceiling for the SHG will be raised to S$8,500, up from the current S$6,500. The maximum grant amount also will...