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...
Market Reports
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...
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...
THE government has acted swiftly and decisively in introducing rules to dampen property speculation - the third time in a year that the authorities have acted to cool an overheating market. The new rules require for HDB resale flat buyers to sell off any existing private property they own - including property overseas - within six months of the flat purchase. Also, those who want to buy a second property...
Property index climbs mere 0.1% in July The prices of completed condominiums and apartments showed early signs of stabilising in July from the peak levels recorded in previous months. This is according to the latest reading of the Singapore Residential Property Index (SRPI) developed by the National University of Singapore's Institute of Real Estate Studies. The index tracks price movements of a basket...
Singapore private property prices has increased by 34 per cent, claimed a global survey of house prices conducted by the Global Property Guide. This is the fastest in the world for the year 2010 to June 30, and also the highest recorded year-on-year increase in the country since 1995, according to Global Property Guide. Hong Kong, Australia and Taiwan took the next three positions. Also in the top 10 is...
New govt measures won't affect genuine buyers: Lim Hwee Hua THE latest slew of government measures to temper the property market is ultimately meant to build up a 'sustainable' market and will not affect genuine buyers, said the Minister in the Prime Minister's Office and Second Minister for Finance and Transport, Lim Hwee Hua. 'What will be sustainable is property purchases or price increases that is...