Singapore property developers will face tougher regulations if a proposed amendment to the Housing Developers (Control and Licensing) Act is enacted into law. The Bill aims to protect the interests of buyers purchasing uncompleted units, and will force developers to publish details of discounts, stamp duty reimbursements and incentives given to home buyers. It will also see greater regulation of show...
singapore property market
The hype over shoebox property units seems to have cooled down. Sales transactions in these small private apartments have fallen by 46 per cent in the second half of 2012. In the second half of 2012, some 1372 units were transacted compared to 2539 units in the first half of last year. Experts cited fewer launches as developers focus on building bigger units to meet demand. Still, analysts said there...
Rental movements across Singapore’s office, retail, industrial and residential segments are expected to be moderate this year, according to a report by Colliers International. Compared to 2012, rents of Grade A buildings are forecast to decline by five percent in 2013, while capital values could rise by five percent. Rents of luxury non-landed private housing could fall by 10 percent, while capital...
Singapore will get three new towns – Bidadari, Tampines North and Tengah – which are expected to provide 90,000 homes over the next few years, reported The Straits Times. The areas of Bukit Brown and Keppel could also be developed in the future, according to the Land Use Plan released by the Ministry of National Development (MND) last week. Tengah which is located in western Singapore is currently...
The future success of the government’s land use plans will depend on market timing and clarity on the details of development, said Alice Tan, Senior Manager for Research at Knight Frank Singapore. “To fulfil the optimisation of land use in the medium to long term, we expect the planners to be reviewing land usage in a comprehensive approach, from existing low intensity to higher intensity land...
Some Executive Condominium (EC) developers have seen higher sales despite the government introducing a package of cooling measures on January 12. EC projects like One Canberra and Watercolours, which were launched last year, have seen sales jumped by about five times after the measures kicked in. In the two weekends after the new measures kicked in, One Canberra sold 30 units, up from two to three units...
New measures unveiled by the Government on Jan 11 to cool the housing market have been described by many industry watchers as the most comprehensive and harshest ever. Hold on. Hasn’t this description been used to describe at least one other previous set of cooling measures? To put the most recent curbs into proper context, we are moving from “Harsh” to “Harsh+”. Following the announcement,...
Analysts say the comprehensive Land Use Plan released by the government on Thursday will present many opportunities for developers. It will also boost the property market in years to come. They add that home prices in some areas could also appreciate, though not any time soon. Housing estates like Woodlands, Sembawang, Seletar and Punggol may be far from the city today, but come 2030, these towns are...
Two new commercial clusters will be developed as part of the comprehensive Land Use Plan released by the government on Thursday. In addition to the existing commercial nodes Jurong Lake District, one-north and Paya Lebar Central, there will be two new corridors in the north and south. The North Coast Innovation Corridor will span from Woodlands to Punggol and the Southern Waterfront City will extend from...
By 2030, Singapore is expected to have 700,000 new homes which will be located in new towns, existing estates and the central region, where 200,000 of these units will be completed by the end of 2016. According to the Land Use Plan released on Thursday, three new towns will be carved out. One of them is Bidadari town where 11,000 housing units, both private and public, are expected. Another town will be...