Recent price increases of relatively scarce landed homes have outstripped gains for non-landed homes, leading to talk of an increasingly segmented market. According to the Urban Redevelopment Authority's third quarter price index released, overall private home prices rose 2.9 per cent in the three months to Sept 30 - below the preliminary estimate of 3.1 per cent. The market was buoyed by landed home...
Landed Property
Citizens and permanent residents who cut their ties with the Republic cannot expect to continue owning landed property in the city. That is the message the Singapore government is sending through the Residential Property (Amendment) Bill, tabled in Parliament on Monday. Analysts said the Bill puts former citizens and PRs in the same boat as foreigners when it comes to landed houses. Individuals who give...
Proposed changes to foreign ownership of landed residential property in Singapore and a seven-day cooling period for HDB resale flats are not expected to weigh down on property prices, according to analysts. Over 80% of Singapore's population resides in flats. Hence, proposed amendments to the Residential Property Act will have little impact on the overall market, said experts. The Act regulates foreign...
Foreign ownership of landed homes here is set to be tightened, four years after the Residential Property Act was last revised. The latest changes to the law, tabled yesterday in Parliament, include more stringent penalties and come at a time when residential property prices have risen significantly while some fines and jail terms have been the same since 1974. The newest requirement is for Singaporeans...
More changes are on the way for the regulation of Singapore's property market. From November, sellers of Housing & Development Board (HDB) flats will have to observe a seven-day cooling-off period before they can grant an Option-to-Purchase (OTP) to the buyers. And foreign owners of landed property could face tougher rules under changes being proposed by the Law Ministry. The HDB said in a statement...
Many Singaporeans aspire towards real estate ownership. High-rise living, whether in private condominiums or HDB estates, is the norm in Singapore, with more than 90 per cent of people housed in this manner. Residents may enjoy better views and ventilation. For those living in condominiums, they may also enjoy the benefit of common facilities and security. On the other hand, many diehards value landed...
The Prices of freehold landed housing outside the prime districts have hit a new high, according to property consultant DTZ. But DTZ notes that the pace of price increase for the entire residential sector is losing steam. In its report, it says price growth across all housing segments slowed in the third quarter of this year compared to the previous period. DTZ said prices of freehold landed homes...
Prices of landed freehold units outside the prime districts have hit a new high in the third quarter of this year. Property consultant DTZ said prices of homes outside the prime areas inched up 1.7 per cent quarter-on-quarter to S$952 per square foot, surpassing for the first time the high of S$943 per square foot recorded during the 1996 boom. Meanwhile, landed freehold units in the prime districts of...
A record price has been set on Sentosa Cove. This time a prime seafronting bungalow along Ocean Drive on a 7,690 sq ft plot area has been sold for $2,536 per square foot (psf) on land area. This exceeded the earlier record of $2,403 psf posted just in May this year for a bungalow on Paradise Island which has a bigger land area of about 14,983 sq ft reflecting in a much higher price of $36 million. The...
Landed property within reach if buyers know where to look With property prices hovering near record highs, can some home buyers still realise their dream of owning a landed property? Those who are serious about purchasing a landed property should start with $2 million as a realistic budget to work with, property experts said. "A year ago, especially in the earlier part when the downturn was at its worst,...