singapore property news

Bulk purchases of Singapore luxury properties by individual foreigners on the rise

Bulk purchases of residential private properties in Singapore are on the rise. While most deals remain discreet, some are making the news in recent months. Earlier in June 2022, a Chinese national is said to have bought 20 units at CanningHill Piers, a condominium along the Singapore River, for more than S$85 million.. The purchaser, who is from the Chinese province of Fujian, is also rumoured to be...

Residential property rentals anticipated to stay high this year following uptick in June

Singapore private condominium and pubic housing (HDB) rental costs increased by 2.1% and 2.3%, respectively, from the prior month in June 2022, continuing their increasing trend. The most recent flash numbers from SRX Property and 99.co, released on 14 July, show that condo rentals have increased for 18 straight months while HDB rents have increased for 24 consecutive months. The rental rates for...

Midtown Modern debuts “Sky-Bungalows” priced between S$15.5 million and S$17 million apiece

Developer GuocoLand has introduced a collection of 6 expansive, double-story houses at Midtown Modern condominium in Bugis priced between S$15.5 million and S$17 million each, or between S$4,287 and S$4,701 per square foot (psf). Known as the "Midtown Modern Sky-Bungalow Collection", the units were built by stacking together 4-bedroom premium apartments, an option the developer had presented at the...

List of brand new homes ready for occupation in 2022

Looking for a property directly from the developer for your own stay or immediate rental returns? Below is a list of new launches in Core Central Region (CCR), Rest of Central Region (RCR) and the Outside Central Region (OCR) that has completed or are scheduled to complete in year 2022. Core Central Region (CCR) The Hyde The Hyde is perfectly situated on Balmoral Road, in front of Goodwood...

URA considering proposals including a heritage district for the future Paya Lebar Air Base site

When the Paya Lebar Air Base is relocated in the 2030s, the current site might be turned into a heritage district, with existing infrastructure including the control tower, hangars, and old passenger terminal buildings preserved. The Singapore Institute of Architects (SIA) and the Singapore Institute of Planners (SIP) were hired by the Urban Redevelopment Authority (URA) to come up with suggestions for...

Additional buyer’s stamp duty of 35 percent will apply on any transfer of residential property into living trust from May 9

Additional buyer’s stamp duty (ABSD) of 35 per cent now will apply on any transfer of residential property into a living trust occurring on or after May 9, the Ministry of Finance (MOF) announced on Sunday (May 8).  ABSD will be payable even if there is no identifiable beneficial owner at the time the residential property is transferred into a trust, MOF said in a media release late on...

Consortium buys conserved building Golden Mile Complex for S$700 million en bloc

The building will be "sensitively renovated," with special attention made to preserving its major features and unique terraced profile The Golden Mile Complex was sold for S$700 million to a consortium consisting of Perennial Holdings, Sino Land, and Far East Organization, according to Edmund Tie, the complex's sole marketing agent (May 6). This comes after the agency obtained "overwhelming support"...

Impact of higher property tax in Singapore

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...

Tanglin Shopping Centre sold for S$868 million in 4th collective sale attempt

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,...

Provide your property agent the right information

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...

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