26,800 Housing and Development Board (HDB) flats and 22,400 non-landed private housing units are projected to be completed in 2014. The numbers are significantly higher than those projected for this year -- 11,300 HDB flats and 12,500 non-landed private housing units are expected to be completed in 2012. The National Development Ministry revealed these figures in a written response to questions posed by...
singapore property market
The government is releasing five residential sites for sale in October 2012 which will yield about 2,880 units. These include two Executive Condominium (EC) sites and three residential sites. In a joint statement, the Housing & Development Board (HDB) and the Urban Redevelopment Authority (URA) said this is to provide developers and home-buyers with more choices for private housing. The site at...
Demand for new private homes jumped by 84 percent in September from August, led mainly by a strong rebound in the mass market segment. According to the Urban Redevelopment Authority (URA), 2,621 new private homes, excluding executive condominiums, were sold in September. The 2,621 new units sold in September is the second highest amount since 2,772 units were sold in July 2009. Analysts see this as a...
The consensus among property watchers appears to be that older buyers will be worst hit by the new home loan curbs, especially those in their 40s and 50s, but the impact of the latest cooling measures will likely be felt more acutely in the resale market. Certainly, the mathematics will show older borrowers to be at a disadvantage, everything else being equal. But everything else is not equal. The...
Sales of new private homes have been brisk in the past year for projects in neighbourhoods like Pasir Ris and Punggol. And some industry players said the Hillview area, located in the western part of Singapore, could be the next up-and-coming spot with more projects lined up. The Hillier - a mixed development project at Hillview Avenue - is one of several new offerings in the area. It has seen strong...
Rentals for private homes are expected to ease in the next 12 months, especially those in the luxury segment. Experts said current rentals for private homes are just 1 per cent off the peak recorded in the second quarter of 2008. It used to take about a month to secure a tenant for private homes in the rental market last year. Now, it takes about three to four months, according to analysts. While...
Sales of bungalows at Sentosa Cove have picked up significantly in recent weeks, rebounding from the effects of the additional buyer’s stamp duty (ABSD), reported The Business Times. Owners of around 12 bungalows issued options to potential buyers in the past two months, with interest coming mostly from foreigners, especially China nationals. For instance, two homes on Pearl Island were reportedly sold...
Despite the new housing loan rules from the Monetary Authority of Singapore (MAS), home buyers are still flocking to condominium showflats, with strong turn-out seen last weekend at Skies Miltonia in Yishun and Riversails at Upper Serangoon, according to The Business Times. 67 percent of units at the 420-unit Skies Miltonia have been taken up. In addition, the developer is offering an 18 percent discount...
Latest measures to cool the property market announced on Friday have prompted some buyers to seal last-minute deals, before the new rules kick in. From yesterday, buyers who opt for home loans over 30 years, or past the retirement age of 65, will have to fork out significantly more cash. Older investors, like 60-year-old Madam Doris Lim, are the hardest-hit by the latest restrictions on home loans. "I...
The Monetary Authority of Singapore (MAS) will restrict the tenure of loans granted by financial institutions for the purchase of residential properties, effective from 6 October. MAS' move is part of the government's broader aim of avoiding a price bubble and fostering long-term stability in the property market. The new rules impose an absolute limit of 35 years on the tenure of all loans for...