1 The Government announced today the following measures to maintain a stable and sustainable property market: a. Increase the holding period for imposition of Seller’s Stamp Duty (SSD) from the current three years to four years; b. Raise the SSD rates to 16%, 12%, 8% and 4% of consideration for residential properties which are bought on or after 14 January 2011, and are sold in the first, second,...
General
The Government has announced more measures to maintain a stable and sustainable property market. From Friday, the holding period for imposition of Seller's Stamp Duty (SSD) will be raised to four years from the current three. The SSD rates would also be raised while the Loan-To-Value (LTV) limit would be lowered to 50 per cent on housing loans for property buyers who are not individuals. The LTV limit...
More than 100 prospective home buyers formed a line outside Austville Residences before doors opened on Thursday morning. The Executive Condominium (EC) in Sengkang uses a first-come-first-serve system to allocate units unlike the last three EC projects which used balloting. The first couple in line, who declined to be interviewed, said they arrived at 3pm on Wednesday. Austville has a total of 540...
The outlook of developers for the real estate sector became rosier in the fourth quarter of 2010, with a large percentage of them expecting higher prices for new residential launches. Preliminary findings from the Real Estate Sentiment Index (RESI) showed an improved sentiment from Q3, when the industry was still dealing with the effects of the property cooling measures announced by the government on...
The Ascott, one of the world's largest serviced-residence companies, plans to invest in at least 12 properties for this year, covering cities like Shenzhen, Chennai and Doha. The company, which is a unit of Singapore's CapitaLand, said it has US$800 million (S$1 billion) available to expand its business this year. Other than Asia and the Middle East, The Ascott is also looking at furthering its presence...
The historic agreement between Malaysia and Singapore to settle a long-standing railway land swop issue will open up new property development opportunities in Singapore and Iskandar Malaysia, said DTZ Research. For Singapore, the reversion of the railway land will enable the authorities to amalgamate the track land with adjacent sites and bring about more optimal use of the land, a DTZ report...
Luxury homes in the area now rarely sell for less than $1,000 psf The luxury end of the housing market remains hot as a bungalow in the prime district at Leedon Park fetched a record $61.4 million in December last year, or $1,467 per sq ft for the 41,853 sq ft site. The site is believed to have been the same one that in June of last year was bought for $59.4 million, suggesting the buyer may not have...
The Botanic Gardens, Holland Village and the National University of Singapore (NUS) will be connected to the rail network by the fourth quarter of this year. The 12 stations from Caldecott to HarbourFront are expected to boost travel on the line. There were an average of 154,000 riders a day on the central and eastern sections of the line as of September last year, up from 30,000 in 2009. The Circle Line...
The Government of Singapore Investment Corp (GIC) is seeking to sell an office building in Seoul with an estimated value of up to 1.1 trillion won ($1.3 billion), South Korea's Maeil Business Newspaper reported in its Wednesday edition. The GIC bought the Seoul Finance Center for 355 billion won in 2000, breaking ground for Korea property investment as an institutional investor. The 30-storey building...
High interests in the office investment sales market continues, with two freehold office blocks, 112 Robinson Road and the nearby The Corporate Building, swap hands at $168 million and $57 million respectively. A Credit Suisse managed fund's sale price for 112 Robinson Road (formerly known as HB Robinson) works out to $1,822 per square foot based on its net lettable area (NLA) of 92,205 sq ft. The sale...