The outlook for the en bloc market has become bleak in the aftermath of the latest round of cooling measures, according to experts. “I think these measures caught everyone by surprise. For en bloc developers, the first couple of months will show more subdued dealing of land parcels. If developers are not confident to sell, they will not bid aggressively,” said Ian Loh, Head of Investment at Knight...
singapore property news
Singapore’s sweeping package of property cooling measures to curb rising home prices not only applies to foreigners buying properties in the city-state, but has gone one step further to include permanent residents (PRs) and citizens. Introduced last Friday, this is the government’s seventh round of measures since 2009 and includes a stamp duty hike of between five and seven percent across the board,...
Demand for new private residential property in Singapore rebounded in December 2012, following a sharp decline in the previous month. According to the Urban Redevelopment Authority (URA), 1,410 units of new private homes were sold last month, up by about 30 per cent from November's sales of 1,087 units. Including executive condominiums (EC), the sale of new homes came in at 2,259 units in December. The...
According to official figures, about 2,300 Singapore permanent residents (PRs) who own Housing and Development Board (HDB) property will be impacted by the government’s latest round of cooling measures. From last Saturday (January 12), PRs owning HDB flats are no longer allowed to sublet their entire property even after the stipulated Minimum Occupation Period (MOP). Those PRs who have been already...
The property market is likely to see a quieter period after the latest round of cooling measures. Market experts told Channel NewsAsia both buyers and developers should be taking their time before taking their next steps. The latest series of cooling measures announced on January 11 has spurred some property buying to beat Saturday's deadline. For instance, Far East Organisation (FEO) sold just 22 units...
DBS chief executive officer Piyush Gupta said the property cooling measures unveiled on January 11 have "a lot of teeth". Speaking at an event for its private banking clients on Monday, Mr Gupta said the measures were a reflection of the government willingness to trade off growth for social harmony and to rein in inflation. He warned that as a result, the Singapore economy could grow at the lower end of...
Singapore can possibly take a leaf out from other jurisdictions to look at how they curb rising property prices. Member of Parliament for Holland-Bukit Timah GRC, Christopher De Souza, said this includes learning from Hong Kong and Australia. Speaking in Parliament on Monday, Mr De Souza added that both jurisdictions are potential reference points for Singapore to refine its property measures. He also...
Property analysts have described the latest set of government measures as the "tsunami" of property cooling measures, as it affects public and private housing, executive condominiums, and industrial properties. Some say, the additional stamp duty will hit investors wanting to own a second or subsequent property. Mr Mohamed Ismail, CEO of PropNex, said: "Such a drastic move will have a downward spiral...
Condo’s residents want to stop repeated en bloc efforts, will seek Prof Jaya’s help YET another attempt to put Bayshore Park on the en bloc market has been nipped by poor attendance, and residents who are not interested in selling are fed up with the repeated efforts. They now want to consult Law Minister Prof S Jayakumar - who is also their Member of Parliament (MP) - during a Meet-The-People...