The measures announced by the government on Monday to cool the property market were timely as prices had gone up to unsustainable levels, according to real estate developer Wing Tai Holdings. Mr Edmund Cheng, Wing Tai's deputy chairman who said this on Friday at the launch of its luxury project Belle Vue Residences, added that prices for future land tenders would need to be adjusted downwards as sentiment...
singapore property
THE government has acted swiftly and decisively in introducing rules to dampen property speculation - the third time in a year that the authorities have acted to cool an overheating market. The new rules require for HDB resale flat buyers to sell off any existing private property they own - including property overseas - within six months of the flat purchase. Also, those who want to buy a second property...
Property index climbs mere 0.1% in July The prices of completed condominiums and apartments showed early signs of stabilising in July from the peak levels recorded in previous months. This is according to the latest reading of the Singapore Residential Property Index (SRPI) developed by the National University of Singapore's Institute of Real Estate Studies. The index tracks price movements of a basket...
Revisiting the Government's core commitments and discussing their relevance to Singapore today My earliest childhood memories are of growing up in an attap hut that was part of a kampung somewhere in Hougang. We drew water from a well and ate by the light of a kerosene lamp. Later, we moved to a small room in a shophouse in Bugis Street, now the site of Bugis Junction, where we slept under - not on - a...
In attempting to describe the top category of residential real estate in Singapore, we often find ourselves struggling with adjectives. Before the Urban Redevelopment Authority came up with the term CCR (Core Central Region), we used to say "9, 10 and 11" in reference to the prime residential postal codes. However, since the frenzy of the 2007 property boom, new terms have cropped up, such as super prime,...
These include greenery, shuttles to main shopping belts, housekeeping, laundry and childcare services The recent move by the Government to cool the residential market is a measured one, targeted at property speculators. It is unlikely to deter genuine home buyers from shopping for their dream home. We believe this group of buyers are now better placed as they could be more selective and choose where and...
The recent changes to dual home ownership aimed at cooling the sizzling property market have left some owners in a bind. From 30 August, private property owners who want to buy a flat from the Housing and Development Board (HDB) would have to sell their private property within six months. The regulation also applies to those who own property outside of Singapore. For some, owning two properties is a...
Singapore private property prices has increased by 34 per cent, claimed a global survey of house prices conducted by the Global Property Guide. This is the fastest in the world for the year 2010 to June 30, and also the highest recorded year-on-year increase in the country since 1995, according to Global Property Guide. Hong Kong, Australia and Taiwan took the next three positions. Also in the top 10 is...
New govt measures won't affect genuine buyers: Lim Hwee Hua THE latest slew of government measures to temper the property market is ultimately meant to build up a 'sustainable' market and will not affect genuine buyers, said the Minister in the Prime Minister's Office and Second Minister for Finance and Transport, Lim Hwee Hua. 'What will be sustainable is property purchases or price increases that is...
Developers are widely expected to delay their new launches, now that buying sentiment is likely to be hit by the market-cooling measures. The Government announced new rules on Monday that strongly discouraged speculation on homes. Some analysts said that the changes could dent sales, especially for new launches in the mass-market segment. DMG and Partners property analyst Brandon Lee said the measures...