s part of the cooling measures for the property market, limits have been set for granting of HDB loans and the use of CPF funds for the purchase of public housing with remaining leases of less than 60 years. They will take effect on 1 July 2013. If the remaining lease of the HDB flat is between 30 and 59 years, the use of CPF funds is allowed, except for buyers for whom the remaining lease cannot cover...
real-estate
The Singapore government on Friday announced a comprehensive package of measures to cool the residential property market. The measures, which will take effect on January 12, include higher buyer's stamp duty, tighter loan-to-value limits, and higher minimum cash downpayment for second and subsequent housing loans. The measures are calibrated to be tighter on property ownership for investment, as well as...
Resale prices of private non-landed homes jumped 13.4 per cent on-year in the fourth quarter last year, according to flash estimates put out by the Singapore Real Estate Exchange (SRX). SRX compiles data from 11 top property agencies in Singapore. It said non-landed private resale home prices continued its uptrend to hit S$1,233 per square foot in the fourth quarter (Q4), compared to S$1,157 per square...
In a blog post on Monday, Minister for National Development Khaw Boon Wan said buyers of Executive Condominiums with outdoor spaces might not have realised that they were being sold space that the developer did not pay for. This is because outdoor roof terraces and private enclosed spaces on the ground floor do not count as gross floor area (GFA). This policy was put in place to encourage developers to...
Despite the government’s efforts to control property prices, Singapore home prices continue to climb. Hence, analysts expect to see more cooling measures from the government to avoid a property bubble. Driven by high demand and low interest rates, prices will likely rise by eight percent between now and 2017, according to property analysts at Credit Suisse. They noted that interest will remain flat...
A residential site located at Ang Mo Kio Avenue 2 has been awarded to Pinehill Investments Pte. Ltd, which lodged the top bid of S$550 million for the 99-year leasehold site, said the Urban Redevelopment Authority (URA). Launched for tender on 15 November, the site received strong interest from a total of 12 bidders, with Pinehill submitting the highest bid at S$8,502.35 psm on the site’s gross floor...
Recent comments by National Development Minister Khaw Boon Wan on the issue of expensive executive condominiums (ECs) could be a sign that the government is looking to implement another round of property cooling measures. At a DTZ seminar held yesterday, the consultancy revealed that demand for ECs is at an all-time high due to potential gains and the narrowing price gap between ECs and mass market...
A freehold property on Whitley Road is up for a collective sale. According to its marketing agent DTZ, the development Villa Des Flores is located in the Chancery-Bukit Tunggal neighbourhood. The 9,696.3 square metre site can be redeveloped into a two-storey mixed landed housing project. The developer has the option to build detached, semi-detached and terrace housing, or a combination of all. As a...
Seeking more support to offset rising rental cost takes top spot in the wish list of Singapore companies for the upcoming Budget 2013. This is according to a survey finding by the Institute of Certified Public Accountants of Singapore (ICPAS). While no official date for Singapore Budget has been announced yet, many companies are hoping that the government will hand out some goodies in this year's...
As the market moves closer to the peak of incoming supply, private home prices in Singapore could decline by up to five percent while demand remains robust at around 20,000 units, said DBS Group Research. Moreover, the government is set “to release policy review papers on population, infrastructure and land use (Concept Plan and Master Plan) this year”. DBS said that this may provide “some...