Latest measures by Singapore to cool housing market expected to result in lower sales volume in short term, but won’t have significant impact on home prices, says Citigroup, according to Dow Jones. “With the wide spread between rental yields of mass-market properties at above 4% and mortgage rates as low as 1%, such properties remain a highly attractive investment vehicle for many seeking higher...
General
1 The Government announced today the following measures to maintain a stable and sustainable property market: Increase the holding period for imposition of Seller’s Stamp Duty (SSD) from the current one year to three years. For property buyers who already have one or more outstanding housing loans1 at the time of the new housing purchase: Increase the minimum cash payment from 5% to 10% of...
Property consultant CB Richard Ellis (CBRE) said Asian Real Estate Investment Trust (REITs) saw good growth in the first half of this year. In its "REITs Around Asia" report, CBRE said total market capitalisation of Asian REITs surged by 24.7 per cent on-year to US$69 billion. Six new REITs were also launched during the first six months of the year in what CBRE said was a dynamic period for REIT initial...
Mammoth collection breaks New Creation's own previous record MEGACHURCH New Creation has broken its own record by collecting $21 million in donations in just 24 hours, proving again its ability to pull in the big money. Church founder Joseph Prince announced the news yesterday during services at the church's Suntec location. The money was collected over one day last week on Sunday. 'You people, you are...
The Housing and Development Board (HDB) will increase the Minimum Occupation Period (MOP) of non-subsidised flats from three to five years. It said this will reinforce the message that flats are meant for long-term occupation and dampen demand from those who are not in urgent need of housing. Buyers of these flats will also be banned from concurrently owning both an HDB flat and a private residential...
Announcement on private property today Some 22,000 Build-To-Order (BTO) flats - over a third more than this year's supply - will be pushed out next year. And this was not the only piece of pleasant news for flat seekers yesterday: The Government will also widen public housing choices for the "sandwiched group", those who earn a monthly income of between $8,000 and $10,000. Yesterday, Prime Minister Lee...
A hefty rental hike for Sunset Way eateries led to shock and awe. The detente that followed appeased the stayers. The bruising war in the niche area, touted as the next Holland Village, erupted nearly three months ago. The master tenant for the eateries, Circles International Solutions (CIS), had on June 1 raised rentals by up to 80 per cent. At least five eateries at Block 106 in Clementi Street 12...
Host of projects to come on stream when Hungry Ghost Festival ends, but affordability is still key The market for new property launches has slowed this month but should see a rebound after the Hungry Ghost Festival ends on Sept 7. Developers are already lining up projects for launch, and these choices are expected to range from mass-market homes to high-end ones. Next month, Hoi Hup Sunway is targeting...
Where do you see this? In media reports and the Government's tender annnouncements. What does it mean? It is a tender system in which developers submit their design proposals and tender prices in two separate envelopes. The Government will first evaluate the concept proposals against a set of pre-stated criteria, including the overall design and the adaptive reuse of conservation buildings. At the...
Maybank S'pore ups the ante in residential mortgage market Maybank Singapore has raised the bar in the home loans market with a slew of offerings that include mortgage rates below 1 per cent. Its fixed rate packages, with either a three or five-year fixed term, offer the lowest rate in town at 0.88 per cent a year in the first year. For its home loans pegged to interbank lending rates, Maybank is...