There are at least eight private residential projects that are now racing the clock to sell remaining units within the two-year completion period, as mandated by the government. For instance, high-end projects such as the Hilltops in Cairnhill Circle and the The Marq on Paterson Hill have been completed for at least a year, but they still have hundreds of units yet to be sold, reported The Straits...
singapore property
Buyers of 60-year leasehold properties might find it a challenge to apply for loans. While some banks are willing to lend, potential buyers may have to borrow less or pay off these loans faster. But analysts said banks may have to re-think their home loan strategy as more of such sites make their way into the market. The land at Jalan Jurong Kechil, which closed tender on November 15, will be the first...
Foreign buyers of Singapore properties accounted for 7 percent of the market in the third quarter this year. The proportion had remained unchanged from the previous second quarter. However, for the first three quarters of the year, foreign purchases averaged about 6 percent. This is according to the latest report on demand for Singapore's residential properties in Q3 by property consultant DTZ. The...
Luxury properties continue to see high demand in South East Asia. With global markets being flushed with cash, experts say more are looking at investing in high-end properties that's worth more than US$5 million. New luxury homes now come with an added touch of class and developers are introducing even more innovative features in such properties. Costing an average of about S$3,500(US$2,800) per square...
The latest restrictions on home loan tenures will likely boost demand for lower-priced non-landed private homes, or those under S$1.5 million, according to a report by Knight Frank. The cooling measures are expected to impact affordability. For instance, a 35-year old home buyer with a S$12,000 monthly income can now afford a home priced as much as S$1.5 million to S$1.6 million on a 30-year loan,...
Sales of new private homes in Singapore declined by about 25.7 per cent to 1,948 units in October, from 2,621 units in September, according to data released by the Urban Redevelopment Authority (URA). URA said October's sales were led by the mass market segment which sold a total of 1,482 units. Meanwhile, 144 new homes in the core central region and 322 new units in the city fringe were sold. The top...
Spottiswoode Suites - a upcoming freehold luxury condominium at Spottiswoode Park Road is located in prime Tanjong Pagar Central Business District (CBD). Rising up to 36-storeys, residents can enjoy a unblock panoramic view of the sea and city. Spottiswoode Suites is within minutes walk to Outram Park MRT and it is in close proximity to the Central Business District, Vivocity, Sentosa, Marina Bay Sands,...
City Developments (CDL) has warned of a potential oversupply of home units in Singapore. In a statement accompanying its quarterly earnings, CDL said it is "cognisant that between 2014 and 2015, there could be some oversupply with more residential units being completed." However, the group said the fear could be unwarranted if the world economy turns around by that time and the majority of the completed...
The total number of private residential properties bought was about 22,000 in the first half of 2012, as compared to 19,000 in the first half of 2011 and 17,000 in the second half of 2011. National Development Minister Khaw Boon Wan said this in a written parliamentary response to a question by MP for Pasir Ris-Punggol GRC, Gan Thiam Poh. He said cooling measures introduced in January last year aimed to...
Only 33 luxury condos and apartments priced from S$10 million onwards changed hands in the first 10 months of the year, down from 57 units over the same period last year, reported The Business Times. According to a URA data analysis by CBRE, the 33 units amounted to S$449.6 million, 44 percent less than S$797.5 million last year. Caveats lodged comprised both the primary and secondary markets and were...