Market-watchers have welcomed Budget measures, announced by Finance Minister Tharman Shanmugaratnam on Thursday, which are aimed at helping Singapore property developers through the current downturn. While analysts had already expected the government to unveil help for the depressed property market, they noted on Friday that some of the moves are particularly creative. These measures include allowing...
Budget 2009
Industrial and commercial properties managed by the Housing and Development Board (HDB), JTC Corporation and the Singapore Land Authority (SLA) will get a 15 per cent rental rebate for one year. This will benefit more than 31,000 tenants, lessees and temporary occupation licensees and amount to S$306 million. The rebate will take effect from January 1, 2009, to December 31, 2009. It is part of the...
Property watchers and players in Singapore are increasingly hoping for some help from the government to boost the sluggish residential sector. New private home sales this year look set to hit their lowest levels since the 1997 Asian financial cisis. And the outlook is weak, amid the global downturn. Only 3,900 new private homes have been sold year to date. Property watchers said this could be the first...