Market watchers are not surprised by the government's move on Monday to cool the housing market, and some even said that it is long overdue. On average, analysts expect the latest measures to dampen private home sales by about 20 per cent for the rest of the year. And developers may also hold back on new launches, and turn to preview sales instead. The relaxation of some housing policies will make...
singapore property market
A condominium that saw a spike in transactions in the first week of August was the 910-unit freehold City Square Residences, completed early last year. Located along Kitchener Road, it’s right next door to the newly opened City Square Mall and the Farrer Park MRT station. Across the street is the 24-hour Mustafa Centre, a popular shopping mall with locals and tourists. City Square Residences comprises...
The government said Monday that it will increase the holding period for imposition of Seller's Stamp Duty (SSD). The SSD will be raised from the current one year to three years. Another measure will impact those who have more than one outstanding housing loan. Property buyers who already have one or more outstanding housing loans at the time of the new housing purchase will have to pay more money...
Latest measures by Singapore to cool housing market expected to result in lower sales volume in short term, but won’t have significant impact on home prices, says Citigroup, according to Dow Jones. “With the wide spread between rental yields of mass-market properties at above 4% and mortgage rates as low as 1%, such properties remain a highly attractive investment vehicle for many seeking higher...
1 The Government announced today the following measures to maintain a stable and sustainable property market: Increase the holding period for imposition of Seller’s Stamp Duty (SSD) from the current one year to three years. For property buyers who already have one or more outstanding housing loans1 at the time of the new housing purchase: Increase the minimum cash payment from 5% to 10% of...
The private residential real estate sector in Singapore is cooling due to a combination of European debt worries, local stock market jitters and increased land supply, according to analysts. The latest report from property consultants DTZ suggests that market activity slowed in May and June due to subdued global outlooks. Primary sales in the second quarter fell by 8% to 4,033 units, as developers slowed...
HOME buyers have snapped up eight units at Waterfront Key and six at Waterfront Gold in the Bedok Reservoir area in the days since last week's news that an MRT station will be built nearby. Developer Frasers Centrepoint Homes said the units have been sold since the Government announced details of Stage 3 of the MRT Downtown Line last Friday. The firm will also officially launch Waterfront Gold this...
DTZ report shows mainland Chinese buyers closing in on Indonesians MORE private home buyers are paying more than $1 million apiece for a property as prices climbed in the past year, a new report from DTZ shows. The consultancy's Q2 2010 residential report also said that the share of transactions involving purchasers with HDB addresses has stabilised at around the 34-36 per cent mark in the last three...
They form biggest group of foreign purchasers there this year; many snap up landed homes BUYERS from China now comprise the largest group of foreign buyers in the exclusive residential enclave of Sentosa Cove. In the first half of this year, Chinese buyers accounted for nearly a third of all foreign buyers - well up from 18 per cent for all of last year and just 7 per cent in 2008, according to a new DTZ...
Property consultant DTZ said buying sentiment in Singapore's private residential market cooled in the second quarter due to the global uncertainty. Market activity slowed in May and June due to a combination of the European debt woes, local stock market jitters and increased land supply. DTZ said primary sales in the second quarter fell by 8 percent to 4,033 units, as developers slowed the pace of...