In a blog post on Monday, Minister for National Development Khaw Boon Wan said buyers of Executive Condominiums with outdoor spaces might not have realised that they were being sold space that the developer did not pay for. This is because outdoor roof terraces and private enclosed spaces on the ground floor do not count as gross floor area (GFA). This policy was put in place to encourage developers to...
singapore property
Despite the government’s efforts to control property prices, Singapore home prices continue to climb. Hence, analysts expect to see more cooling measures from the government to avoid a property bubble. Driven by high demand and low interest rates, prices will likely rise by eight percent between now and 2017, according to property analysts at Credit Suisse. They noted that interest will remain flat...
Recent comments by National Development Minister Khaw Boon Wan on the issue of expensive executive condominiums (ECs) could be a sign that the government is looking to implement another round of property cooling measures. At a DTZ seminar held yesterday, the consultancy revealed that demand for ECs is at an all-time high due to potential gains and the narrowing price gap between ECs and mass market...
As the market moves closer to the peak of incoming supply, private home prices in Singapore could decline by up to five percent while demand remains robust at around 20,000 units, said DBS Group Research. Moreover, the government is set “to release policy review papers on population, infrastructure and land use (Concept Plan and Master Plan) this year”. DBS said that this may provide “some...
The Alexandra area is set to become a hotspot for expatriates on the lookout for rental properties, noted a report in The Straits Times. According to Steven Tan, Managing Director of OrangeTee, the area has evolved in recent years. While housing used to be limited to HDB flats, more private properties have mushroomed within the area, including Alexis, Metropolitan and the newly-launched Echelon. Sited on...
National Development Minister Khaw Boon Wan has asked the Urban Redevelopment Authority (URA) to review and fix the policy allowing developers to sell off free spaces to make additional profit for themselves. He said this in a blog post, "Who Gets Short-Changed?", on Monday, on the heels of recent launches of executive condominium (EC) projects. Mr Khaw noted that in these projects, super-sized units...
Rising private home prices may spell further policy risks amid the hot property sector, noted Colliers International. Flash estimates by the Urban Redevelopment Authority (URA) show that private home prices increased 1.8 percent quarter-on-quarter in Q4 2012, capping the year which saw an overall 2.8 percent rise. This brings prices to an all-time high since the 2009 fiscal crisis. This is still slower...
Analysts expect the bumper supply of homes this year to provide more choices, especially for singles and families, reported The Straits Times. Aside from meeting demand, the government’s ramped up supply of about 20,000 new flats for 2013 aims to cool the resale market. Meanwhile, land sites marked for release could yield 14,000 private homes, including 3,100 executive condominium (EC) units in the...
Rentals for private homes may have hit record prices and volume in 2012, but some market experts said the market will be slower in 2013. Median rents as of October 2012 has reached S$3.75 psf, 14.3 per cent higher than the S$3.28 psf in Jan 2011. Commodities trader Pushkar Jamnerkar will be looking to work and live in Singapore with his family for the second time. However, property prices have spiked...
Prices of new private homes in Singapore rose to a new record in the fourth quarter of 2012. This comes on the back of rising demand for private homes in the sub-urban areas. Preliminary data from the Urban Redevelopment Authority (URA) showed a 1.8 per cent quarter-on-quarter increase to a record 211.9 points in the fourth-quarter period from the previous quarter. But prices increased by about 2.8 per...