Homeowners who opposed in a collective sale of private homes will still have to pay any seller's stamp duty that applies to them. "If the sale occurs within the holding period, the seller's stamp duty is applied, regardless of whether an individual owner consented to or opposed the sale," said National Development Minister Lawrence Wong in Parliament on Tuesday. The reason is that the collective...
real-estate
In a cooling en bloc market, Minbu Villa, a freehold residential development in Novena, is going up for tender at S$145.8 million again, but could see the reserve price lowered if 80 per cent of the owners agree. Its earlier attempt this year was launched in March and closed on April 17 without a winning bidder. This time, more than 60 per cent of the owners by share value and strata area have...
The Government has put in place new anti-money laundering and terrorism financing requirements for property developers that will require them to perform due diligence checks on their buyers and flag suspicious activity. The new rules come after Parliament passed the Developers (Anti-Money Laundering and Terrorism Financing) Bill on Tuesday (Nov 20). The Bill amends both the Housing Developers...
If the Government had not stepped in with measures in July to cool the property market such that there are now signs of moderation, property prices would have surged ahead, possibly going up by 10 to 15 per cent, National Development Minister Lawrence Wong said. Explaining the rationale behind the cooling measures on Thursday (Nov 15) at an industry anniversary dinner organised by the Real Estate...
Sales of new private homes in Singapore fell 36 per cent in October from a year earlier, as there were barely any new launches in the month. Developers sold 487 units last month - excluding executive condominiums (ECs) - compared with 761 units in October 2017, according to data released by the Urban Redevelopment Authority (URA) on Thursday (Nov 15). On a month-on-month basis, sales fell by about...
Condominiums and private apartments rentals dropped for a second straight month, slipping 0.7 per cent in October from the previous month, according to SRX on Wednesday. This came after rents dipped 0.5 per cent in September, with the figure revised by SRX from a 0.4 per cent decline. After barely budging in 2018, private market rents are now down 0.1 per cent from a year ago - but are a hefty 20...
Resale prices of private non-landed homes in Singapore declined for the third straight month in October after the latest round of property cooling measures, flash estimates by real estate portal SRX Property on Tuesday showed. Condominiums and private apartment resale prices weakened by 0.4 per cent last month from September. This follows the 0.5 per cent drop in September, a figure revised up from an...
The appointed exclusive marketing agent - JLL, is calling offers for the purchase of two prime three-story conservation shophouses in Singapore’s historic Chinatown district. The two shophouses are a freehold and a 99-year leasehold property located respectively at 31 and 76 Pagoda Street. Both properties are zoned "commercial" and have been approved for use as food and beverage outlets. Foreigners...
Despite the cooling en bloc market, owners of Mandarin Gardens condominium have raised their asking price for the 99-year leasehold development in East Coast to S$2.79 billion — up from its original price of S$2.48 billion. This will see it leapfrogging the previous high set by Pandan Valley’s S$2.6 billion asking price. Mr Leonard Jayamohan, the spokesperson for Mandarin Gardens’ Collective...
With all the turmoil of a Trump presidency and Brexit, we wouldn’t be surprised if analysts eventually suggest hiding your money in a sock. In the aftermath of the last crisis years (2009 to 2013), the Singapore property market — particularly its luxury segment — was considered a safe haven investment destination and recorded huge price increases. But will that still be the case today? It...