Prices of resale private homes rebounded in January, rising 0.3 per cent, reversing the previous month's 0.2 per cent decline, according to the Singapore Residential Price Index flash estimates published by the Institute of Real Estate Studies at the National University of Singapore. The increase in January was led by price growth in the small unit segment, defined as homes below 506 square feet. In...
real-estate
To provide developers and home-buyers with more choices for private housing, the Urban Redevelopment Authority (URA) and Housing & Development Board (HDB) have launched two residential sites for sale by public tender today under the Confirmed List of the 1st half 2013 (1H2013) Government Land Sales (GLS) Programme. Together, these two sites at Kim Tian Road and Sengkang West Way (Parcel A) can yield...
Overseas Union Enterprise (OUE) is planning to raise up to S$1 billion from the listing of its hospitality assets in Singapore this year, Dow Jones Newswires reported, citing two people with knowledge of the deal. OUE could launch an initial public offering for a hospitality-focused real-estate investment trust (REIT) in the third quarter of the year, the sources said, according to the report. A...
Landlords of private homes may see the rental market softening when higher property taxes kick in next year, as these investors grapple with higher holding costs. Owning luxury or investment homes will incur higher property taxes starting January 2014. For private homes not occupied by owners, new marginal property tax rates of 12 to 20 per cent will be levied in addition to the current 10 per...
The Urban Redevelopment Authority (URA) on Tuesday received nine bids at the close of the tender for a food and beverage site located at Punggol Point. Mainboard-listed property developer Fragrance Group submitted the highest bid of S$11.4 million, which translates to about S$3,790 per square metre of Gross Floor Area (GFA). This was 33 per cent higher than the second highest bid of S$8.6 million...
The new set of progressive tax rates introduced in Budget 2013 will see high-end property owners paying more in property taxes. While the tax bill may be higher for the rich in percentage terms, analysts say this may not dampen investor sentiment to buy luxury properties. From January 2014, properties with higher annual values will be taxed at higher rates. With a tax rate of between zero and 15 per...
A more progressive tax structure will be introduced for properties and cars to achieve greater social equity without hurting Singapore's competitiveness. Deputy Prime Minister Tharman Shanmugaratnam, who announced these changes in his Budget Statement on Monday, said 950,000 owner-occupied residential properties will be able to enjoy some tax savings. The zero per cent property tax rate band, which...
The upcoming Woodlands Regional Centre, which aims to bring jobs closer to homes in the north, will have two distinct precincts. National Development Minister Khaw Boon Wan revealed this as he unveiled preliminary plans for the area on Sunday. The plans are part of Singapore's draft masterplan for land use which will be exhibited later this year. The two precincts will be developed from some 100...
The territory’s government yesterday announced comprehensive curbs in an attempt to arrest the exuberance in the property market that it warned could destabilise its economy. The measures come a month after Singapore unveiled wide-ranging measures to cool property prices. Beginning today, Hong Kong will double the stamp duty to as high as 8.5 per cent of the property value for certain transactions,...
Property market exuberance could prompt authorities to step up curbs: Analysts New home prices in 70 major cities across China rose an average of 0.8 per cent in January from the same month a year earlier, according to data released yesterday by the National Bureau of Statistics, snapping 10 months of decline and raising the risk that the central government may move to bolster a three-year campaign to...