The Urban Redevelopment Authority said developers sold 1,701 units of private homes, excluding executive condominiums in November this year. That's up from 1,391 units moved in the previous month. November's home buying demand was largely driven by strong sales from mass market projects. These included the 477 units sold at Bedok Residences and 367 units sold at The Palette in Pasir Ris. The developers...
singapore property
Property developers are likely to offer incentives to draw in buyers and boost sales amid tighter regulations by the Government and a slowdown in the economy, according to analysts. Singapore imposed unexpectedly last week a second round of cooling measures this year, a move described by analysts as harsh. The most recent measures impose an additional stamp duty on property purchases by foreigners and on...
The Singapore private residential property market was hit with two rounds of cooling measures in 2011 - moves widely described by analysts as harsh. Coupled with an expected slowdown in the global economy, home-buying decisions may stall in 2012. And developers may also roll out more incentives to prop up sales. Despite the uncertain economic outlook in 2011, home-buying interest remained healthy...
Singapore’s property market has become increasingly cautious, as sales of new homes dropped 15 percent month-on-month in October, according to Savills Research. Due to strong home sales from January to October 2011, about 13,688 new home sales were registered over that period, representing a four percent year-on-year rise. This month, three major projects that could yield over 1,500 new mass-market...
As the property market reels from the shock of new curbs to cool prices, some market watchers say two groups will stand to benefit the most. They are the mass market condominium developers and Singaporeans who are buying their first private property or upgraders. Meanwhile a check on the showflats on the first weekend after the new property curbs took effect showed mixed scenes. While some showrooms were...
The Government's latest round of property market cooling measures - imposing a range of additional buyer's stamp duties on private home purchases - helps most genuine owner-occupier buyers, specifically citizens and permanent residents who may be affected by affordability issues. More importantly, it gives a clearer direction for the private home market, which had exhibited optimism despite the last round...
At least one real estate agency thinks the immediate reaction to the latest cooling measures will be a slowdown in the private property market. CEO of PropNex Realty Mr Mohamed Ismail said he expects a price correction of approximately 15 to 20 per cent in the central core region and a correction of 10 to 15 per cent in the mass market segment in the next six months. Propnex also expects transaction...
The government has imposed an Additional Buyer's Stamp Duty (ABSD) for private property of between 3 per cent and 10 per cent for Singaporeans, Permanent Residents and foreigners to moderate investment demand for private residential property and promote a more stable and sustainable market. The changes take effect on December 8. Foreigners will pay 10 per cent Additional Buyer's Stamp Duty (ABSD) for any...
The Government announced today an Additional Buyer's Stamp Duty (ABSD) to be imposed on certain categories of residential property purchases. The ABSD will be imposed over and above the current Buyer's Stamp Duty, and will apply to the purchase price or market value of the property (whichever is higher) for the following purchases: Foreigners and non-individuals (corporate entities) buying any...
Good Class Bungalow (GCB) transactions in the prestigious Tanglin Hill are very rare. The most recent, according to a caveat lodged on Nov 3, was for a 21-year-old GCB on a freehold site of 34,585 sq ft. It was sold for $57 million ($1,648 psf) in a private-treaty deal. Colliers International represented the seller, while Savills Prestige Homes represented the buyer. Both the seller and buyer were...