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HDB launches 5,291 flats, including 1,394 units under inaugural Re-Offer of Balance Flats exercise

Blocks of HDB housing flats around Whampoa area in the central part of Singapore. PHOTO: ST FILE SINGAPORE – There will be 5,291 flats for sale from Tuesday (Aug 1), the Housing and Development Board (HDB) announced. These include 3,897 Build-To-Order (BTO) units in the third BTO exercise this year, and 1,394 units under the first ever Re-Offer of Balance Flats (ROF) exercise. This brings the total number of flats launched by HDB this year to 18,095. Applications can be submitted online on the HDB InfoWEB until next Monday (AugRead More


Property-bound Singapore capital now prefers home turf

Only 34 outbound investment deals were done in H1 2017, against 144 in 2016. Primary-market property sales are up at home, as are en bloc sales   THE capital flight to greener pastures abroad from Singapore has slowed to a trickle, amid a turnaround in the property market at home. Data compiled by Real Capital Analytics and Knight Frank Research shows that the number of outbound investment deals dwindled to 34 in the first half of 2017. The figure was 144 for last year, and 503 in 2015. The transactionRead 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


May 2017 BTO exercise: Flats in Bidadari and Geylang see highest demand

SINGAPORE: New Housing and Development Board (HDB) flats in the mature estates of Geylang and Bidadari continued to be in demand among house-hunters, with larger units being the most oversubscribed in the latest Build-To-Order (BTO) sales exercise of 2017. As of 5pm on Wednesday (May 24), the most sought-after units were the four-room flats at Geylang’s Dakota Breeze, with 3,173 applicants vying for 671 units – 4.7 times oversubscribed. These flats are priced from S$489,000 onwards, excluding grants. Five-room and multi-generational flats in Bidadari’s Woodleigh Hillside were also a favourite, withRead 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


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


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


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


Rochor Centre: Living on borrowed time

SINGAPORE: “There’s nothing much to say,” 80-year-old Mdm Lee said, when asked about the looming demolition of Rochor Centre – her home for the past 40 years. “I’m very sad.” Authorities have yet to announce the exact date the wrecking crew turns up, but have previously said the iconic, rainbow-coloured estate would be torn down at end-2016. Mdm Lee remembers the day the Government said it would acquire the four blocks of Housing and Development Board (HDB) flats to make way for the 21.5km long North-South Expressway. While the initialRead 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


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


Singapore – One-tier prices for early buyers of Parc Riviera

To entice early-bird buyers, the developer of West Coast condominium Parc Riviera is taking a novel one-tier pricing approach. EL Development is offering units of the same type from the second to the 15th levels for the same price. For example, a 603 sq ft two-bedroom flat will be priced at $725,000, regardless of whether it is on the second or 15th level – or anywhere in between. Most developers charge higher prices for flats on higher floors because higher flats tend to be more popular for the views. WhileRead More


What flats can a senior citizen buy and can she appoint someone to buy it on her behalf?

Taken from the The Strait Times by Janice Heng   Reader Nancy Goh, a single senior citizen Singaporean now working in the United States, intends to return home when she retires within the next five years. She wanted to confirm what flats she is eligible to buy, and whether she can arrange for a Power of Attorney for her sibling to apply for a flat on her behalf. Housing reporter Janice Heng answered her questions. Singles aged 35 and older can buy a new two-room flexi flat directly from theRead More