Singapore property tax is due to increase in 2023 and 2024. How will it impact the residential market? On 18 February 2022, Singapore Finance Minister Lawrence Wong said in his 2022 budget speech that property taxes on non-owner-occupied homes, including investment properties, will be raised to 12 to 36 percent over the next two years from the current rates of 10 to 20 percent. Owner-occupied...
Savills Singapore, the mall's marketing agent, said on Wednesday that Tanglin Shopping Centre has been sold for S$868 million after its fourth collective sale effort (Feb 23). The building was sold to Pacific Eagle Real Estate, a Singapore-based developer owned by the Tanoto family, who has for over 50 years developed and managed the Royal Golden Eagle group of companies, which produces natural fibers,...
The more details you provide to your agent, the faster they can find your dream home or ideal investment Over the years of serving buyers, we notice that buyers who approach their property purchases in an upfront manner, disclosing all of their needs and exactly how much they are willing to pay for those, walk away from their purchases far happier than those who don’t share fully their affordability...
What can we expect at the upcoming new launch at Northumberland Road A plum mixed development site in the Farrer Park area was released for sale in October 2020, attracting 10 bids (despite the global Covid-19 pandemic situation) from developers before it was awarded to Maximus Residential SG Pte. Ltd. and Maximus Commercial SG Pte. Ltd.The 99-year leasehold site in Northumberland Road, near Farrer...
Despite new price records, sales of new private residences and resale properties in Singapore increased last year, according to figures released by the Urban Redevelopment Authority on Friday (Jan 28). Developers sold 13,027 private residential units in total in 2021, compared to 9,982 units the previous year. In the secondary market, 19,962 resale properties were sold in 2018, compared to 10,729 in...
After a strong 2021 where total transaction volumes for new launch private non-landed properties amounted to 12,574 for the whole year (a 34 per cent increase y-o-y), what are the next highly anticipated new launches for 2022? The Singapore property market had a robust 2021 with private residential transactions at 28,734 units (excluding ECs), a large 57 per cent increase from 2020, when a total 18,295...
A quick review of how did Singapore property market perform in 2021 and what's ahead in 2022 Singapore private and public housing markets saw a buoyant year in 2021, with prices reaching new peaks and annual sales hitting the highest level in several years. Private home prices jumped 10.6 per cent in 2021, quickening from a 2.2 per cent increase the year before, according to flash estimates from the...
The Government on Wednesday (Dec 15) announced a package of measures to cool the private residential and HDB resale markets. The measures include raising Additional Buyer’s Stamp Duty (ABSD) rates, tightening the Total Debt Servicing Ratio (TDSR) threshold and lowering the Loan-to-Value (LTV) limit for loans from the Housing and Development Board (HDB), said the Ministry of Finance, the Ministry of...
Peace Centre, a shopping mall, and Peace Mansion, an adjacent apartment complex, have been sold after a fifth attempt at a collective sale, according to exclusive marketing agent JLL (Dec 3). CEL Development, Sing-Haiyi Crystal, and Ultra Infinity formed a joint venture to purchase the mixed-use property on Sophia Road for S$650 million. The reserve price for the collective sale was established at...
International Plaza has been put up for collective sale at a reserve price of S$2.7 billion, marketing agency Edmund Tie & Company stated on Wednesday (Sep 1). The 50-storey mixed-use development's first effort at an en bloc sale is also its most expensive and comprehensive offering to date. A land rate of S$2,448 per square foot per plot ratio is reflected in the reserve price. International...
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