Two new condo developments in a Sengkang area are launching at around the same time, raising the possibility of a price war. This comes on the back of a fall in suburban private home prices. Prices of suburban condo units dropped 1 per cent in the last quarter of 2013. That is the first dip in about four years, or since the second quarter of 2009. Some analysts said the drop has made property...
General
Golf courses make up two percent of Singapore's total land area and this number is expected to drop as golf clubs make way or make adjustments for redevelopment plans. Keppel Club and the Marina Bay Golf Course will not get new leases when their current ones expire while the Singapore Island Country Club (SICC) will lose one of its 18-hole courses. This was announced by the Law Ministry on...
A land site for an executive condominium (EC) development at Anchorvale Crescent has attracted 12 bids at the close of tender on Thursday. According to the Housing and Development Board (HDB), Phoenix Real Estate submitted the highest bid of S$192.89 million, which is 1 per cent higher than the second top bid of S$191 million from MCL Land. Phoenix Real Estate is a wholly-owned subsidiary of SGX...
Several major banks have welcomed the latest move by the Monetary Authority of Singapore (MAS) to make it easier for borrowers to refinance their loans for owner-occupied properties. This is if the property was bought before the Total Debt Servicing Ratio (TDSR) was introduced on 29 June 2013. The framework prevents home buyers from taking a loan if their monthly debt obligations exceed 60 per cent...
The first batch of 3Gen flats launched in Yishun last September has had a strong reception, National Development Minister Khaw Boon Wan said on his blog on Friday. About 94 per cent (79 out of 84) of these flats, which Mr Khaw said are designed to facilitate extended family togetherness, have been booked. Of the 79 families who booked these flats, 56 were first-time HDB buyers and 23...
A former property agent was on Thursday jailed for two years by a district court for his part in a rental scam that targeted foreign nationals. 41-year-old Jim Tan Kuan Hui, who was unrepresented, pleaded guilty to three charges which involved some S$14,000. Five other similar cheating charges -- also involving foreign nationals -- were taken into consideration during sentencing. Tan also admitted to...
The number of resale transactions in the non-landed private home market plunged 70.2 per cent in January compared to a year ago. Analysts attributed the decline to the effects of cooling measures and loan curbs introduced last year. According to the latest data from the Singapore Real Estate Exchange (SRX), which compiles data from property agencies in Singapore, 310 private homes were resold in...
It must be a developer’s worst nightmare to flip open the newspapers and read the bold headlines screaming that new home sales have plunged to their lowest level in five years: That was exactly what happened last week. Data from the Urban Redevelopment Authority showed developers sold a paltry 259 new homes last month, down more than 90 per cent from the record high in last March of 2,793...
The Monetary Authority of Singapore (MAS) will relax its home financing rules for homebuyers who had committed to residential property purchases before the rules were announced last year. This applies to buyers of private property who had signed an option to purchase the property before June 29, 2013. If they are the occupiers of the property, they will be exempt from the Total Debt Servicing Ratio...
Sales for executive condominiums (EC) slowed following new rules such as tighter loan rules for those buying EC units. Some agents said EC units, which are typically sold out in a year, may now need another year to hit 100 per cent sales. The Skypark Residences project released in November last year has sold only 60 per cent of its units so far. Another development, Waterwoods, launched in the...