Prices in the resale private property market fell just two per cent in March compared to February, according to data from major property agencies compiled by the Singapore Real Estate Exchange (SRX). But resale volumes in March jumped 87 per cent from February. The drop in resale private home prices was led by those in the suburbs, where resale prices fetched S$1,071 per square foot, 3 per cent lower...
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First-time home buyers have been propping up demand in the local property market. They are not affected by the latest cooling measures implemented in January since they belong to the group without a mortgage loan. 24-year-old Travis Ye became a condo owner for the first time in September last year, when his parents put down a 30 per cent downpayment for his S$1.4 million condominium at eCo. That's...
Prices of private resale homes dropped 1.4 per cent in February from January, after rising 0.8 per cent month-on-month in January. This is according to the latest Singapore Residential Price Index (SRPI), which tracks prices of completed private apartments and condominiums. The weaker SRPI data from the Institute of Real Estate Studies at the National University of Singapore (NUS) comes in the wake of...
Since additional property cooling measures kicked in this January, property agents and lawyers have reported a rise in 'decoupling' queries among joint home owners. The process allows one couple to own two properties, without having to pay the higher additional buyer's stamp duty (ABSD) of 7 per cent on a second property. Joint-owners of a property could be a couple, or a group of siblings - and more of...
The first mixed-use development in the west - Hillion Residences - was launched by property developer Sim Lian on Thursday. The 99-year leasehold private condominium in Bukit Panjang integrates residential living with a retail mall and an air-conditioned bus interchange. It will be also be linked to the existing LRT station and upcoming Bukit Panjang MRT station in 2015. The project consists of 546...
Proposals to further raise standards in the real estate industry and better protect consumers are being finalised. The Council of Estate Agencies (CEA) is working with the industry to strengthen regulations and disciplinary powers. It is reviewing the Estate Agents Regulations, as well as the Ethics & Professional Client Care. The issues being looked into include dual representation, ways to avoid...
Sales of new private homes plummeted 65 per cent in February from the previous month, a drop which analysts ascribed to a “knee-jerk” reaction to the latest round of cooling measures and a lull in the market because of the Chinese New Year holiday. However, they said they expected volumes to rebound sharply this month as developers launch new projects with sweeteners to woo buyers — and, indeed,...
Sales of new private homes in Singapore fell sharply in February, due to the Lunar New Year holidays, fewer launches and the government's latest round of cooling measures. However, analysts said it is still too early to gauge the effectiveness of the cooling measures introduced earlier this year. According to data from the Urban Redevelopment Authority, 708 new units were sold during the month, down by...
The recently-published and hotly-debated Population White Paper highlights the key demographic, infrastructural and economic challenges facing Singapore over the next 20 to 30 years. Specifically, it tries to balance the tricky demographic–infrastructure equation. On one hand are Singapore’s persistently low birth rate and consequent need for an immigrant population; on the other are growing concerns...
A new condominium, D'Nest, located at Pasir Ris Grove will be launched for preview sales on Friday. The 912-unit project is jointly developed by City Development Limited (CDL), Hong Leong Holdings and Hong Realty. In a statement, CDL said it is planning to sell the units at an average price of S$990 per square foot. However, it will be offering an early bird discount of 7 per cent on the launch price in...