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Marc Reven

 

First Re-Offer of Balance Flats exercise oversubscribed by almost 4 times

The Housing and Development Board’s (HDB) first Re-Offer of Balance Flats (ROF) exercise has been oversubscribed by about four times, with more than 5,500 applications received for the 1,394 flats on offer as of 5pm on Monday (Aug 7). SINGAPORE: The Housing and Development Board’s (HDB) first Re-Offer of Balance Flats (ROF) exercise has been oversubscribed by about four times, with more than 5,500 applications received for the 1,394 flats on offer as of 5pm on Monday (Aug 7). Of the total number of applicants so far, 2,647 are applying for an HDB flatRead More


S’pore drops out of top 20 list of world’s most expensive cities for expats

  The weakening Singapore dollar has made the city-state less expensive for expatriates. Singapore has fallen out of the top 20 list of the most expensive cities in the world, moving six notches down from 18th place last year to 24th in this year’s cost of living survey by ECA International, reported Channel NewsAsia. Topping the list is Angola’s Luanda followed by Hong Kong, Zurich, Geneva and Basel. Nonetheless, Singapore remained the 10th most expensive city within the Asia Pacific region, with Hong Kong taking the lead, followed by Tokyo, Seoul,Read More


Singapore property prices to double by 2030: Morgan Stanley

    The protracted downtrend in Singapore’s property market is poised to end next year, with home prices set to double by 2030, Morgan Stanley said in a Wednesday note. “Property market bears expect slower population growth, an ageing population, and a structural growth slowdown to weigh on the long-term property market outlook,” the note said. “We disagree and believe home prices will double by 2030.” That implies a 5 to 6 per cent increase per annum and would mark a reversal from a long downtrend in home prices. InRead More


Pasir Ris to get 2,000 new HDB flats

  Pasir Ris Town Centre will be transformed into a vibrant hub with an integrated bus interchange, a new Heritage Garden and partly-sheltered Town Plaza. Under the Remaking Our Heartland (ROH) programme, residents of Pasir Ris can look forward to about 2,000 new HDB flats and a new mixed-use project at the town centre, revealed the Housing and Development Board (HDB) on Saturday (29 April). Situated next to Pasir Ris Park, the public housing developments are expected to be launched in the next three to five years and will comeRead More


Upcoming District 9 condos to stir buying interest

  Two prime condominium projects are slated to hit the market in the second half of the year amid a significant pick-up in new private homes sales recently. Analysts say the District 9 projects – GuocoLand Group’s Martin Modern and New Futura by City Developments (CDL) – are likely to interest local and foreign buyers if developers can price the units “correctly”. Cushman and Wakefield research director Christine Li believes Martin Modern will be well-received, “as the high-end residential market seems to be bottoming”. Non-landed private home prices in theRead More


Unwinding property curbs gives Singapore developers new headache

  Singapore’s recent unwinding of some property curbs, which initially appeared to boost prospects for developers, may instead be creating new problems. After regulators closed a tax loophole that allowed developers to offload apartments in bulk to institutional investors and wealthy Singaporeans, many of the city’s builders now face an unpalatable choice: discount unsold luxury homes or pay stiff penalties for missing government-mandated sales deadlines. Opting for discounts could push home prices even lower, prolonging a three-year slide in property values. The alternative could be even more costly. About 2,098Read More


Two freehold sites in Balmoral Road area for sale

  View of the freehold residential sites at Balmoral Road and Ewe Boon Road. Two adjoining freehold residential redevelopment sites within the Balmoral Road area have been put up for sale by public tender, revealed marketing agent Edmund Tie & Co. Launched in a concurrent but separate tender, the two sites at Balmoral Road and Ewe Boon Road are zoned residential, with a gross plot ratio of 1.6 and a building height control of up to 12 storeys under the 2014 Master Plan. The sites have a combined area ofRead More


Government Eases up On Seller Stamp Duty, Relaxes TDSR Rule For Retirees Needing Cash Loans

    Certain residential property measures related to the sellers’ stamp duty (SSD) as well as the total debt servicing ratio framework (TDSR) has been relaxed. However, there would still be no change to the additional buyers’ stamp duty (ABSD) charge, as well as the loan-to-valuation (LTV) limits. The SSD is currently payable by those who sell a residential property within 4 years of purchase, at rates of between 4% and 16% of the property’s value. The changes will see the SSD holding period cut to 3 years instead of 4Read More


Boomtime property buyers now big losers

More than 800 condo units were resold at a loss this year as economy slows   An ultra-luxury apartment with a sea view at Sentosa Cove has made the largest loss in the property market so far this year. Originally bought for $11 million in 2011, the condominium unit at Seascape was sold for $6.35 million in October at a loss of $4.65 million. A high-end property at The Ritz Carlton Residences in Cairnhill Road made the second-largest loss-making deal of $3.7 million in March. Another Sentosa Cove unit atRead More


BUILT TO ORDER

BUILT TO ORDER   Could it be a sign that the Housing Board’s first Build-to-order (BTO) launch this year was on Valentine’s Day and that this launch is also the first time families can apply under the Fresh Start Housing Scheme? Perhaps the parallels are pushing it, but the 4,065 new flats in Clementi, Tampines and Punggol will no doubt provide a good start for couples hoping to start a family. Out of the 4000 plus units, 1,603 will be in Clementi, 638 in Tampines and 1,815 in Punggol. ThisRead More


Resale condominium market in gradual recovery

  Could a slice of sunshine be sliding its way back into the local private property market? Resale condominium prices have risen 1.1% in January and it’s a bigger increase than the 0.5% in the last 2 months of 2016. And as expected, non-landed private residential properties located in prime districts lead the way, with a 1.9% month-on-month increase. Central region properties also gained 1.5% in terms of prices while that of suburban properties rose by 0.4%. In a year-on-year comparison, resale prices were 0.3% higher than in the sameRead More


Rise in new private home sales volume

Rise in new private home sales volume The number of new private homes sold last year have risen on the back of declining prices in the primary private home sales market. Fighting against predictions of a languishing private residential sector, new private home sales have held up in 2016 with 8,136 new units sold, 9.4 per cent higher than 2015’s 7,440. Buyers have been picking up units directly from developers, aided by a couple of pushes from low interest rates an and lower selling prices. Though 2016 was a slowRead More


Office rents tipped to recover in 2018

  After a tough patch, prime office rents could find respite in 2018, likely boosted by tighter supply of new buildings and still-healthy leasing demand, said consultancy Cushman & Wakefield yesterday. It is forecasting a 3 per cent overall rental growth for Grade A office space in the Central Business District by the end of next year. Rents of such office space has declined by about 20 per cent since a peak in the first quarter of 2015. “We do expect a lot of the leasing to happen. So thereRead More


Over 12,000 new homes may rise in East Coast

Over 12,000 new homes may rise in East Coast January 19, 2017 Around 6,000 HDB flats could be built in the East Coast in future, offering sea views.   The authorities are considering building a new Bayshore district, with more than 12,000 new homes along the East Coast, reported the Straits Times. The article cited tender documents published by the Urban Redevelopment Authority (URA), that invited consultancy firms to craft a master plan for the area sited on reclaimed land, which is currently mostly occupied by private homes. “The number ofRead More


Joint tender for HSR project to launch end-2017

Joint tender for HSR project to launch end-2017   The 350 km rail link is expected to reduce travel time between Singapore and Kuala Lumpur to just 90 minutes. MyHSR CEO Mohd Nur Ismal Kamal revealed that the joint tender for the high-speed rail (HSR) project between Singapore and Malaysia will launch in the fourth quarter of 2017, reported Channel NewsAsia. The head of the Malaysian company tasked with developing the HSR project expects the two countries to make a decision on the contract award by end-2018. “They have to goRead More


SINGAPORE DECENTRALISATION OR RECENTRALISATION?

SINGAPORE DECENTRALISATION OR RECENTRALISATION? The push for decentralisation could accelerate as Singapore expands new business precincts and the public transport network As Singapore continues to advance its built environment to augment itself as a global and regional centre of finance, communications, trade and commerce, the office landscape has been growing appreciably. Since the introduction of decentralisation strategy that was firstly mooted in the 1991 Concept Plan, a series of hierarchical commercial centres were planned, i.e. regional centres, sub-regional fringe centres and smaller precincts. While office space stock in the CentralRead More


SINGAPORE

SINGAPORE Singapore’s market cooling measures have been among the most effective on a global level.  An Additional Buyer’s Stamp Duty (ABSD) of 15% must be paid by foreign buyers, while Singapore’s permanent residents are levied an additional 5% for their first property and 10% for their second and subsequent properties.  Singapore citizens face additional duties of 7% for their second and 10% for their third properties and subsequent properties. In a bid to prevent market speculation and the ‘flipping’ of properties, a Seller’s Stamp Duty applies, at up to 16%Read More


Understanding Donald Trump from a property tycoon’s perspective

Understanding Donald Trump from a property tycoon’s perspective December 3rd , 2016 As ridiculous as Donald Trump is, there is a grain in truth in the tactics he employs Whether you love him or hate him, American Presidential candidate Donald Trump couldn’t have escaped your attention. The one thing almost everyone agrees on – regardless of what they think of the man’s policies – is that he has a talent for controversy. The way he thinks is also unconventional (in a manner that can be described as “crass” or “unconventional”Read More


BTO launch: Kallang/Whampoa, Bidadari flats most popular

The biggest launch of Build-To-Order flats this year drew to a close just before midnight, with four-room flats in Kallang/Whampoa and Bidadari posting the highest demand. As of 5pm yesterday, there were almost 11 applicants vying for each of the 158 four-room units in the Kallang Residences project. Over at new housing estate Bidadari, which comes under Toa Payoh town, there were just over six buyers going for each of the 587 four-room flats on offer in Woodleigh Glen and Woodleigh Village. Four- and five-room units in Bedok were alsoRead More


Complaints over rentals jump as home sharing takes hold

The year is not yet over and more complaints on unauthorised short-term rentals of homes by property owners or their tenants have already been made, even as the home-sharing phenomenon looks like it is here to stay. The number of complaints over such rentals of private homes hit 469 in the first nine months of this year, a jump from the 231 cases for the whole of 2013. The Urban Redevelopment Authority said it had taken action against 63 of those cases from January to September. As for complaints overRead More