Since additional property cooling measures kicked in this January, property agents and lawyers have reported a rise in 'decoupling' queries among joint home owners. The process allows one couple to own two properties, without having to pay the higher additional buyer's stamp duty (ABSD) of 7 per cent on a second property. Joint-owners of a property could be a couple, or a group of siblings - and more of...
Market Reports
Sales of new private homes plummeted 65 per cent in February from the previous month, a drop which analysts ascribed to a “knee-jerk” reaction to the latest round of cooling measures and a lull in the market because of the Chinese New Year holiday. However, they said they expected volumes to rebound sharply this month as developers launch new projects with sweeteners to woo buyers — and, indeed,...
Sales of new private homes in Singapore fell sharply in February, due to the Lunar New Year holidays, fewer launches and the government's latest round of cooling measures. However, analysts said it is still too early to gauge the effectiveness of the cooling measures introduced earlier this year. According to data from the Urban Redevelopment Authority, 708 new units were sold during the month, down by...
Resale prices of private non-landed homes increased 2.7 per cent in February when compared with January 2013, according to flash estimates put out by the Singapore Real Estate Exchange (SRX). SRX compiles data from 11 top property agencies in Singapore. Leading the rise were properties in the suburbs. Resale prices of non-landed private homes in those areas rose surged 5.1 per cent on-month to an average...
New home sales in January were robust despite the introduction of yet another round of property market cooling measures that month, with developers selling a total of 2,013 private residential units, excluding executive condominiums (ECs), representing a hefty 43 per cent surge from the previous month. The strong sales performance was due partly to attractive pricing and other incentives in the aftermath...
Real estate group Top Global has made a 10 to 15 per cent downward adjustment to the prices of its two soon-to-be-launched condominiums in response to the recent slew of property cooling measures, and further changes may be made according to demand. The freehold residential developments — R Maison and E Maison — are situated at Braddell Road and Somerville Walk, and are targeted at mid- to high-income...
Property market activity is expected to pick up in the next two months as several new condominium projects are likely to be launched. Analysts say this may lead to more sales transactions, especially from first-time home buyers. But despite the property-cooling measures introduced earlier this year, they say prices of new units are not likely to fall. Sennett Residence at Potong Pasir, with over 300...
The moribund property en bloc sales market looks set to cool down further. Experts expect total transactions in the collective sales market to decline to around S$1.5 billion in 2013. Global real estate services firm, Jones Lang LaSalle expects en bloc activities in Singapore to slow down from S$3 billion in 2011 to S$2 billion in 2012 and likely to go even lower than 2012 numbers this year. However,...
Singapore property prices still have "some ways to go" before reaching an acceptable level, according to Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam. Speaking in a Bloomberg Television interview, Mr Tharman said Singapore's property is now in a wrong part of the cycle, and prices would become acceptable through a combination of income improvement and prices not going up...
The high-end housing segment will be most affected by the recent property curbs, Mr Kwek Leng Beng, Executive Chairman of City Developments (CDL), said yesterday, adding that “some correction” would be needed for the overall market. Responding to a question on Budget 2013 and measures to cool the property market at CDL’s results briefing, Mr Kwek said: “The current economic crisis in Europe and...