Plans to raise taxes on properties owned by foreigners in Johor are not likely to affect demand from Singaporean investors. Industry players said that is because current tax levels are relatively low, and property tax makes up a very small component of a home owner's total cost. Property tax rates are set to increase for foreign home buyers in Johor at the end of the year. On Sunday, local...
General
In about two weeks, developers can start bidding for the site at Cecil Street/Telok Ayer Street. The sale for the reserve site was triggered after an unknown developer has committed to bid at least S$623.7 million in the tender. The Urban Redevelopment Authority (URA) said the land parcel spans 7,600 square metres. It has a maximum permissible gross floor area of 77,000 square metres and can be...
A land parcel at Anchorvale Crescent has attracted six bids at the close of its tender, according to the Housing and Development Board (HDB). The 23,000 square metre site is for the development of executive condominiums (ECs). The highest bid of S$245.6 million was submitted by Chinese developer Qingjian Realty (South Pacific) Group. This works out to S$331 per square foot per plot ratio. The...
As of 5pm Tuesday, the Housing and Development Board has received only 82 applications for the 230 two-room flat units from the Build-To-Order (BTO) projects announced in May. For example, at Spring Haven in Jurong West, there were 45 applications for 90 two-room units. Meanwhile, the three-room and four-room units were oversubscribed. The most popular out of the eight projects on offer are the...
Investors appear to be “in denial” about the risks over residential property in Hong Kong and Singapore and that a slowdown in purchases will mean lower prices, private bank Coutts’ chief investment officer for Asia and the Middle East said today (June 3). “You get that fuzzy period when everyone tells you everything is fine until the point when the bank tells you (that) you must sell or you...
Market watchers have said the private resale property market is seeing a gradual recovery after a drop in transaction volume in the first quarter this year following the introduction of cooling measures in January. Based on preliminary estimates, some analysts said sales could potentially double in the second quarter compared to the first quarter. New private homes may continue to pull in the buyers,...
Two-storey maisonettes look set to pop up in new executive condominium (EC) projects. In Sembawang, one such project at the junction of Sembawang Crescent and Sembawang Drive will have 28 maisonettes. The price for the units has yet to be fixed, but each maisonette will occupy 1,709 square feet. Another project in Punggol East is expected to have 10 maisonettes. Director of property firm Chris...
The Housing and Development Board (HDB) has launched 8,000 flats for sale under the joint Build-To-Order (BTO) and Sale of Balance Flats (SBF) exercise. Three new housing measures to help first-timers, second-timers, divorcees, and the elderly will also take effect from this sales exercise. To help more first-timers buy a flat earlier, HDB will extend the Parenthood Priority Scheme (PPS) to married...
Resale prices of completed non-landed private homes surged 1.9 per cent last month from March, extending the 1.1 per cent rise in the previous month, according to Singapore Residential Price Index (SRPI) flash estimates released yesterday, calling into question the effectiveness of the seventh round of property market cooling measures. The SRPI, compiled by the National University of Singapore’s (NUS)...
As more organisations start to relocate all or part of their operations outside of the city centre in Singapore, analysts say there has been strong demand for hotels in business parks in recent years and hoteliers have only just began to tap those opportunities. Capri by Fraser, located within the Changi Business Park, is running at an average occupancy rate of 80 per cent each month. About nine in...