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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


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