Rock-bottom interest rates the flow of overseas money into the market are just the ingredients that could heat up property prices and encourage excessive borrowing. But the Monetary Authority of Singapore (MAS) said the Government is keeping a close eye on the market and is ready to introduce additional cooling measures if necessary. MAS's annual Financial Stability Review warned that the flow of funds...
singapore property market
Just when you think that the cost of money in Singapore cannot possibly get any cheaper, this paper reported on Wednesday that the battle among banks here to secure more home mortgages is intensifying. Malaysian bank CIMB is offering to charge private-home buyers only 0.65 per cent more than the three-month Singapore Interbank Offered Rate (Sibor), which is currently at 0.44 per cent, for the first two...
Land prices stabilising as they have reached their peak: Analysts The time is ripe for real estate developers to build up their land banks as land prices are stabilising, according to analysts. According to Nomura's latest Singapore property report, the recent tender for the 13,000-sq-m Upper Serangoon View site attracted "very tight" bids. The top bid, put in jointly by Frasers Centrepoint, Far East...
CapitaLand, Singapore’s biggest developer, said government measures to curb property speculation are “incremental” and will help the real estate market development sustainably over the long term. Singapore raised down payment requirements in August for second mortgages and imposed a stamp duty on homes held for less than three years to curb speculation after prices surged. It will sell 17...
Enough land to generate 14,300 private residential units has been released in Singapore under the government land sales programme for the first half of 2011. This came as the Monetary Authority of Singapore (MAS) said that more measures may be taken, if necessary, to cool real-estate prices. Analysts said the Singapore government's move is aimed at preserving sanity in the property market by boosting...
The National Development Ministry (MND) announced it would place 17 sites on the Confirmed List of the Government Land Sales (GLS) programme for the first half of next year. It said this would ensure a strong supply of private housing to meet demand. These sites can yield about 8,100 residential units. In addition, the Reserve List will have 13 sites, which can together yield about 6,200 residential...
Singapore’s central bank said low borrowing costs and excess liquidity globally may push the island’s property prices higher again, setting back government efforts to cool the market. There is a risk that financial institutions may ease lending standards and extend more loans to make up for narrowing interest margins, the Monetary Authority of Singapore said in its Financial Stability Review today....
More Chinese investors are entering the Singapore property market, according to property consultant DTZ. Among non-Singaporeans, mainland Chinese buyers have grown significantly in number from 2009, recording their highest ever share of 20 per cent in the third quarter this year. This puts them on par with Indonesians as the second-largest group of non-Singaporean buyers after Malaysians, who topped with...
Many luxury condominium units in Singapore are still vacant even after completion, as the luxury home market remains quiet in the previous years. According to new data released by property consultancy firm CB Richard Ellis (CBRE), 12 condo projects have been completed this year, each with over 10 units yet to find a buyer as of last month. Out of the 12 projects, 10 are located in the prime areas, with a...
The Ministry of Finance has said that Singapore will need to be "vigilant about the possibility of a property market bubble and take further measures where necessary". Finance Minister Tharman Shanmugaratnam was responding to queries in Parliament over the possible effects on Singapore of the latest round of quantitative easing by the US. He added that the Monetary Authority of Singapore has "got a good...