More than 210 units were sold at Q Bay Residences at Tampines during its preview on Friday. The development is the first private residential project to be launched since the latest round of property cooling measures kicked in last weekend. The most popular units were the "one- to two-bedroom suites", followed by the three- and four-bedroom "Verandah Homes" for large families and the TRIO units. In a...
singapore property news
As public debate raged over the irony of Executive Condominiums (EC) priced at more than S$1.5 million being snapped up by buyers supposedly from the sandwiched class, Minister for National Development Khaw Boon Wan weighed in on the matter on Jan 7 in a blog posting titled "Who gets short-changed?" Although he started out by addressing oversized ECs and their prices, Mr Khaw quickly went on to the...
According to property analysts, home prices near the proposed new MRT lines are unlikely to increase in near future. Market watchers say the announcement of a new MRT line could generally prop up prices of homes in the area by 3 to 5 percent. But the response to the announcement of the expanded rail network on Thursday may be more muted. News of the new MRT lines would have generated more excitement...
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’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...