Resale prices of private homes climbed 0.2 per cent in July from June, reversing two straight months of declines. In June, resale home prices declined 0.1 per cent from a month earlier. The price growth in July was due to higher prices of transactions recorded in the non-central region and for small units, according to the latest Singapore Residential Price Index (SRPI) flash estimates published by...
General
Property analysts on Wednesday said the government's latest measures aimed at the public housing resale market will boost leasing activity. However, they are unlikely to affect the private residential market significantly in the coming months. The new rules bar new permanent residents (PRs) from buying HDB resale flats till three years after they have obtained their permanent residential status in...
The government has introduced further measures to stabilise the HDB resale market. The maximum tenure for HDB housing loans will be reduced from 30 years to 25 years. It's aimed at ensuring financial prudence in the purchase of public housing and discourage over-consumption. The Mortgage Servicing Ratio will also be reduced from 35 per cent to 30 per cent of the borrower's gross monthly...
Mass-market new private residential units are proving to be more popular among Singaporeans. And many are buying them for investment purposes rather than to stay in, says an analyst. From January to May this year, the number of new private residential units sold in Singapore was 8,247 - about twice the number of resale private residential units sold. For new private residential units outside the...
Thai billionaire Charoen Sirivadhanabhakdi is looking to raise at least US$500 million (S$639.9 million) by listing a hospitality trust in Singapore next year to help refinance some of the debt that his companies took on to win control of Fraser and Neave (F&N) in January, people with knowledge of the matter said on Monday. The listing would also mark the first step towards the merging of F&N’s assets...
Office rental rates in Singapore are showing signs of recovery after continued declines in the past year, as companies move to secure additional space because of improving local and global economic outlook. Tier 1 office rents inched up 0.6 per cent quarter-on-quarter in the three months ended June 30, the first increase since the third quarter of 2011, property consultancy Jones Lang LaSalle said in...
Leasing demand in Singapore is up, despite some curbs on the issuance of employment passes. This is according to property consultancy Savills. Savills said the greater leasing demand is driven by an increasing number of overseas nationals who are here on a short-term project basis of between six months and a year, as well as the rising number of newly-wed couples waiting for their homes to be...
Come 2015, Pasir Ris residents will have an upgraded waterfront right at their doorstep when nearly one kilometre of the town's two waterways, Sungei Api Api and Sungei Tampines, will be spruced up. Deputy Prime Minister Teo Chee Hean officiated the groundbreaking ceremony for the water project on Sunday evening. Located between Tampines Expressway and Pasir Ris Drive 3, the new waterway will have...
The rapid transformation of the political environment in Myanmar has spurred an even more rapid surge in economic activity and the serviced apartment sector will continue to benefit from the influx of new businesses because of a scarcity of quality housing for expatriate businessman and professionals. According to the Asian Development Bank (ADB), Myanmar’s economy grew by 6.3 per cent last year,...
More people are selling their Housing and Development Board (HDB) flats in the resale market without a cash premium. The Singapore Real Estate Exchange (SRX) said transactions involving zero Cash-Over-Valuation (COV) have more than tripled, from 14 in January to 49 in July. The overall median COV dipped to a low of S$20,000 in July, the lowest since 2011. SRX now said it is seeing more people...