Three families who are unrelated have sold adjacent bungalows collectively at a price of S$37.89 million. The bungalows are located in District 15 Lorong H Telok Kurau. The freehold bungalows are single-storey and together have 24,050 sq ft land area. Taking into account the development charges payable the developer would have to bear land rate of S$1,132 psf ppr. If the 10% balcony bonus is taken...
The local property market will see some slowing on the back of surprise cooling measures though a crash is unlikely, said the top executives from some of Singapore’s biggest developers. However, the chief financial officers of GuocoLand Group and CapitaLand Group differed on whether the Government’s latest step, which involved tweaks to Additional Buyer's Stamp Duty (ABSD) rates for both buyers and...
According to market sources, Allianz is understood to have entered into a lease at ASB Tower, the new development coming up on the former CPF Building site in Robinson Road, at a gross signing rental of around S$11.50 per square foot (psf) a month. The deal is said to reflect a gross effective rent of close to S$10 psf a month after taking into account the rent-free period and other...
Marina One Residences is part of a landmark mixed-use development (Marina One) at an enviable location at Marina South – a district designated as a high growth area to establish a global business and financial hub by Singapore’s Urban Redevelopment Authority. Be at the heart of the city and centre of it all. With links to four out of six major MRT lines and expressways, Marina One Residences is...
The high-end property segment will likely be more affected by the latest round of cooling measures compared with mass-market projects, industry insiders said. Buyers and investors hoping for private home prices to drop sharply due to the measures will not be seeing that happen in the near term, as developers said that they are not going to cut prices massively. Mr Richard Lai, group chief financial...
New laws allowing for Airbnb-style stays are unlikely to come any time soon. The reasons include the "mixed views" given in a recently concluded public consultation and the global trend showing that such short-term stays raise rents and home prices, said Minister for National Development Lawrence Wong in Parliament yesterday. "We are studying the matter carefully," Mr Wong said of an ongoing review...
While at least one collective sale bid will be launched as planned this week, others have hit the pause button or are drawing up new plans amid uncertain prospects following the surprise of fresh property cooling measures. An extension in tender closing dates is one way that some marketing agents hope will keep their en bloc sale bids alive. They also told Channel NewsAsia that homeowners’ price...
The amount of stamp duty collected by the Government rose by 45.9 per cent in 2017, with most of the receipts from property transactions, Finance Minister Heng Swee Keat revealed on Tuesday (Jul 10). This is up from the 14.2 per cent increase in stamp duty collected in 2016 and the 6.2 per cent decrease recorded in 2015. In a written response to a Parliamentary question by MP Gan Thiam Poh, Mr Heng...
The Government imposed cooling measures on its property market last week, in a bid to contain what the central bank described as “euphoria” in the sector. Here are three charts showing some of the factors behind the government’s concerns: 1. PRICES Residential property prices have rebounded since the middle of last year, after Singapore reduced a stamp duty on sellers and eased mortgage...
There is no rationale for the new housing curbs given that the Singapore property market "is in the early stages of a recovery and the recovery is in line with economic fundamentals", said the Real Estate Developers' Association of Singapore (REDAS) on Friday (Jul 6). The statement from the industry body came a day after the Government announced new property cooling measures. Among the curbs are a 5...
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