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Proposed change under spotlight: Individuals who sell a property on or after Jan 1, 2010 will automatically not be subject to income tax, if he has not sold other properties in the previous four years. Even if he has, Iras will determine if a tax on income should be levied, just like existing practice. What the situation is now: When an individual sells a property for a profit, Iras decides if the gain...
40,000 new private homes will enter the property market in the next three to four years, according to the National Development Minister, Mah Bow Tan. He said on Thursday that more property information, such as transaction prices, would be published to keep the market efficient and ensure that home prices are based on fundamentals. Mr Mah said: "What we will do is put out complete information on how much...
The Singapore government says a proposed change to the tax policy on property transactions is not aimed at curbing speculation. It will instead give property owners some certainty. That is because property owners who do not sell properties frequently will have the assurance that they will not be taxed on the profits made from such sales. All properties, from public flats to industrial buildings, will be...
Hong Leong Holdings has said it will hold a preview of its latest development, The Gale, on Friday. It will also start taking bookings for up to 80 units during the preview. The freehold condominium in Changi has 329 units in all. At the preview, the available units will be priced from S$600 to S$700 per square foot. Buyers will also have the option to take up the Interest Absorption Scheme, under which...
The Singapore government is currently in talks with Marina Bay Sands over the integrated resort's announced delay. Another issue is a possible staff shortage as observers note Singaporeans tend to shy away from the gaming industry. The Marina Bay Sands integrated resort's opening has been pushed back to early next year. But with contractual obligations and Singapore's tourism sector at stake, the...
313@Somerset will be the last of the three new malls to open along Orchard Road this year. But it's promising a shopping experience that will keep customers coming back. The shops may be mid-range but 313@Somerset said the customer service will be top-notch. By November, the eight-storey mall, will have shops offering food, fashion and lifestyle treats. And it will be the newest kid on the block, hot on...
The Urban Redevelopment Authority (URA) has launched a hotel site at New Bridge Road for sale. Last month, the urban planners received an application from a developer to put the plot on sale. URA says the developer has committed to bid at least S$43,888,888 for the 99-year lease hold site located in Chinatown, near the Outram Park MRT station. The 0.45 hectare site can yield a maximum permissible gross...
IT'S launches galore in the property market, as developers take advantage of improved sentiment to release their residential projects. Yesterday alone, three developers announced plans for the sale of two residential and one serviced apartment developments. Silversea, a 383-unit condominium in the East Coast area, will be launched this weekend by Far East Organization, with prices starting from $1,300...
SPURRED by the success of recent property launches at the upper end of the middle-class market, GuocoLand Ltd, the Singapore-listed arm of Malaysian tycoon Quek Leng Chan, will soon start marketing its Sophia Residence project on - where else? - Sophia Road. Sophia Residence The 272-unit project comprises several blocks of between eight and 14 storeys nestled in landscaped surroundings on a 166,000 sq ft...