The latest round of cooling measures introduced by the Government, which kicked in today, appears to have created some knee-jerk reaction in the private property market. MediaCorp understands that some sellers rushed to close deals before midnight to avoid the new rules. Others have pulled their properties from the market. Property firms told MediaCorp that they have received many enquiries from...
Market Reports
The latest round of property cooling measures which kicked in Friday appears to have caused a knee-jerk reaction from the private property market. Channel NewsAsia understands that some sellers even rushed to close deals before midnight to avoid the new rules. Others pulled their properties from the market. To 36-year-old Christopher Ng, the new measures were welcome news as he hopes prices will soon...
A knee-jerk reaction to the latest round of property cooling measures is expected to hit banks and developers but industry players believe that normal service will resume. For now though, banks here are likely to see a dip in new housing loan applications, while developers may postpone new launches. Commenting on the latest measures, the Real Estate Developers' Association of Singapore (REDAS) said it...
In a Sunday feature article entitled "History-making year ahead", eight events and issues were highlighted by the writer which are expected to loom large in 2011. Seventh on the list was how to cool the property market without crashing it. Last year, private housing prices eclipsed the previous 1996 peak, while the cash-over-valuation (COV) levels for public flats reached historic highs even as the...
The Real Estate Developers' Association of Singapore (REDAS) has said the latest measures taken by the government to further cool the residential property market will discourage speculative demand. It said in a statement that the measures which impact Seller's Stamp Duty (SSD) and Loan-To-Value limits on housing loans will also encourage longer term holding of properties, which will contribute to the...
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,...
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...
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...
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...
Based on URA and HDB projections, there could be a deluge of homes in 2013 and 2014 It was a week before last Christmas when we celebrated the Housing and Development Board's (HDB) completion of 1 million flats. This is an awesome achievement. With 1 million flats averaging about 1,000 sq ft each, the HDB has within 50 years completed and handed over a billion sq ft of residential space. A billion sq ft....