The latest round of property cooling measures which kicked in Friday appears to have caused a knee-jerk reaction from the private property market. Channel NewsAsia understands that some sellers even rushed to close deals before midnight to avoid the new rules. Others pulled their properties from the market. To 36-year-old Christopher Ng, the new measures were welcome news as he hopes prices will soon...
singapore property market
Share prices of major developers like CapitaLand and City Developments took a beating on Friday, a day after the government announced a fourth set of measures within two years to cool the property market. City Developments share price dropped 4.6% to S$12.16 while that of CapitaLand lost 3.4% to S$3.71. The property-cooling measures, effective on Friday, include a sharp increase in the Seller's Stamp...
A knee-jerk reaction to the latest round of property cooling measures is expected to hit banks and developers but industry players believe that normal service will resume. For now though, banks here are likely to see a dip in new housing loan applications, while developers may postpone new launches. Commenting on the latest measures, the Real Estate Developers' Association of Singapore (REDAS) said it...
In a Sunday feature article entitled "History-making year ahead", eight events and issues were highlighted by the writer which are expected to loom large in 2011. Seventh on the list was how to cool the property market without crashing it. Last year, private housing prices eclipsed the previous 1996 peak, while the cash-over-valuation (COV) levels for public flats reached historic highs even as the...
The Real Estate Developers' Association of Singapore (REDAS) has said the latest measures taken by the government to further cool the residential property market will discourage speculative demand. It said in a statement that the measures which impact Seller's Stamp Duty (SSD) and Loan-To-Value limits on housing loans will also encourage longer term holding of properties, which will contribute to the...
The outlook of developers for the real estate sector became rosier in the fourth quarter of 2010, with a large percentage of them expecting higher prices for new residential launches. Preliminary findings from the Real Estate Sentiment Index (RESI) showed an improved sentiment from Q3, when the industry was still dealing with the effects of the property cooling measures announced by the government on...
Luxury homes in the area now rarely sell for less than $1,000 psf The luxury end of the housing market remains hot as a bungalow in the prime district at Leedon Park fetched a record $61.4 million in December last year, or $1,467 per sq ft for the 41,853 sq ft site. The site is believed to have been the same one that in June of last year was bought for $59.4 million, suggesting the buyer may not have...
Based on URA and HDB projections, there could be a deluge of homes in 2013 and 2014 It was a week before last Christmas when we celebrated the Housing and Development Board's (HDB) completion of 1 million flats. This is an awesome achievement. With 1 million flats averaging about 1,000 sq ft each, the HDB has within 50 years completed and handed over a billion sq ft of residential space. A billion sq ft....
Experts say mass-market condos will lead housing demand this year With private home prices at record highs, industry players expect developments catering to the mass market to lead demand this year. Property is seen as a safe and appreciating asset, they say, adding that Singapore's growing economy and low borrowing rates have injected ample liquidity into the market. But even as property is viewed as a...
With private home prices at record highs, industry players expect developments catering to the mass market to lead demand this year. They said Singapore property is viewed as good investment, but affordability will be key amid rising prices. Singapore's growing economy and low borrowing rates have injected ample liquidity into the market. Industry players said Singaporeans are looking to invest in...