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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


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


Private home prices fell 3% in 2016: URA

SINGAPORE: Private home prices fell by 3 per cent for the whole of 2016, according to flash estimates from the Urban Redevelopment Authority (URA) on Tuesday (Jan 3). This is the smallest price drop in three years, compared with the 3.7 per cent decline in 2015 and 4 per cent fall in 2014.  Looking at fourth-quarter figures for 2016, prices fell by 0.4 per cent compared with the 1.5 per cent decline in the previous quarter. This is the 13th consecutive quarter of decline. According to URA data, the declineRead More


Supply of private homes from confirmed government land sales up 7.4% for first-half of 2017

SINGAPORE – The supply of private homes from confirmed government land sales is set to go up in the first-half of 2017. On the Confirmed List are five private residential sites which can yield 2,330 units, higher than the supply of 2,170 units from confirmed sale sites in the second half of this year, the Ministry of National Development (MND) announced on Friday (Dec 16). But the supply of 2,330 units from the Confirmed List under Government Land Sales (GLS) Programme for 1H2017 is closer to the final 2,445 unitsRead More


More than 5,200 households apply for HDB’s Proximity Housing Grant

SINGAPORE – When housewife Jennyfer Aw Young and her husband Wang Dewei, both 34, wanted to buy their first home in 2008, they went for a four-room Build-To-Order flat in Punggol as it was readily available. But the couple longed to return to Jurong where they grew up and where their parents still live. They eventually bought a resale executive flat in Jurong West Street 65 and moved in this October. After receiving a Proximity Housing Grant (PHG) of $20,000, the 125 sqm unit cost them $525,000. “It’s like homecomingRead More


Plan to save wildlife at Lentor site marked for housing

To save rare animals in a forested area in Lentor, the Urban Redevelopment Authority (URA) has for the first time embarked on a novel wildlife management plan. The 30ha plot designated for private housing is being gradually cleared so that animals are herded to nearby green areas, such as the Central Catchment Nature Reserve. “The goal of the plan is to guide wildlife towards the neighbouring forested areas for relocation, and ensure that none remains before the land is cleared,” said Mr Alvin Tang, senior civil engineer from the URA’sRead More


The place to invest in Asia- Malaysia

1: Kuala Lumpur, Malaysia Good: Low transaction costs, high yields for luxury apartments, reforms improved rental market. Bad:High rental income tax, pro-tenant rental market. The economy is slowing, the ringgit is depreciating, and there’s a political scandal affecting Prime Minister Najib Razak. House prices in Malaysia continue to rise, but at a slower pace, and transactions are slightly down and residential construction activity is slowing. During the year to end-Q3 2015, the nationwide house price index rose by 5.43% (2.74% inflation-adjusted), down from an annual rise of 7.88% the previousRead More


Singapore Home Prices Slide by Most in More Than Seven Years

Singapore home prices dropped by the most in more than seven years as developers offered discounts amid signals from the government that it won’t roll back property curbs initiated in 2009. An index tracking private residential prices fell 1.5 percent in the three months ended Sept. 30 from the previous quarter, the biggest decline since June 2009. Prices fell for the 12th straight quarter, the longest streak of quarterly losses since prices were first published in 1975, according to preliminary data from the Urban Redevelopment Authority Monday. The head ofRead More