The tax man collected some S$29.9 billion in taxes in the last financial year, thanks to the buoyant property market. The Inland Revenue Authority of Singapore (IRAS) said this was S$70 million or 0.2 per cent more than in financial year 2008/2009. Its annual report showed that 56 per cent of the total tax collection came from income tax, which consists of corporate income tax, individual income tax and...
General
Here's what the new property rules imply for buyers and sellers Last week's biggest news was the raft of cooling measures that the Government announced on Monday to dampen demand in the sizzling housing market. The curbs are aimed mainly at deterring property speculators and investors - especially those who may be overstretching themselves financially - from dominating the market and pushing up home...
Home buyers have already begun to back-out from planned purchases since new measures to cool the property market kicked in. The early effects of the new measures are emerging as buyers back out of option to purchase (OTP) agreements - especially for HDB flats. Those having second thoughts about home purchases either no longer qualify for an 80 per cent loan, or believe that prices are going to drop...
Resale private properties are getting more popular with home buyers. According to the latest data from the Urban Redevelopment Authority (URA), one in two private homes sold this year is a resale unit, up from 30 per cent in 1997. While the sale of new private homes remained strong in the first 7 months of the year, analysts said resale private properties are also changing hands at a faster...
The announcement of anti-speculation measures for the property market earlier this week has led to a more cautious response from buyers. These measures include not allowing HDB flat owners to own private property within the minimum occupation period. Though the crowds are still flocking to the showflat at The Greenwich - a condominium being launched at Seletar - potential buyers said they want to take...
THE Clementi Mall, a six-storey shopping complex boasting about 190,000 sq ft of retail space is scheduled to be operational by January next year, with Fairprice Finest, Foodfare and the National Library Board (NLB) as its anchor tenants. The 99-year leasehold property is owned by a joint venture of Times Properties, NTUC FairPrice Co-Op and NTUC Income Insurance Co-op. Level one and basement one -...
Killiney 118 is a boutique development located along the heart of Singapore’s main shopping belt. Despite being one of the smallest freehold development in Singapore with only 30 units spread over 6 floors, Killiney 118 appeal lies in its exceptional location; a home that is conveniently located at the edge of the town, yet tucked away from the bustling town in stylish setting. Located next to Orchard...
Prices of high-end projects have not peaked and are still reasonable THE new measures aimed at cooling the market are not likely to affect high-end homes, according to Wing Tai Holdings deputy chairman Edmund Cheng. He said yesterday: 'Looking at today's prices, the high-end market and prices of very luxurious projects have not reached the last peak yet.' He also believes there will be both locally and...
Ms Tan wanted to buy a resale three-room flat for her twilight years, but the new property regulations have put a spanner in the works. The retiree told Lianhe Wanbao that she owns a private property, but she wanted to move into a Housing Development Board (HDB) flat and rent out her private property to supplement her retirement income. Living in an HDB flat will also help to lower her monthly...
The measures announced by the government on Monday to cool the property market were timely as prices had gone up to unsustainable levels, according to real estate developer Wing Tai Holdings. Mr Edmund Cheng, Wing Tai's deputy chairman who said this on Friday at the launch of its luxury project Belle Vue Residences, added that prices for future land tenders would need to be adjusted downwards as sentiment...