Government acts to stabilize property market growth

The Ministry of National Development (MND) announced earlier three key measures to ensure a more sustainable growth of the property market: an increase of the holding period for the imposition of Seller’s Stamp Duty (SSD) from one to three years; increasing the minimum cash payment from 5% to 10% for property buyers with an existing [...]

More affordable public housing for Singaporeans

In the 2010 National Day Rally speech earlier, the Singaporean Government has promised to build 22,000 new HDB flats in 2011, up from 16,000 in 2010, to cope with the rising demand for public housing. And to complement this effort, the HDB also aims to complete newly launched projects within a shorter timeframe. “This promise [...]

They paid $130,000 COV for Yishun flat 14 years ago

With the current property market and HDB prices at its peak, potential second-hand flat buyers should not dive in recklessly when purchasing a flat, but will have to be mindful of the potential pitfalls, warns real estate agents. Citing an example of a family who paid S$645,000 for their executive maisonette in Yishun 14 years [...]

S’pore real estate firms axe thousands of agents ahead of new MND regulations

Real estate firms in Singapore have axed thousands of agents, ahead of the regulatory framework to be implemented by the National Development Ministry. The framework seeks to professionalise the industry, with the introduction of a new statutory board, known as the Council for Estate Agencies, and enhanced regulatory guidelines. Channel NewsAsia understands that a Bill [...]

Older condominiums still selling at a loss

Despite complaints about ever-rising property prices, some private properties are still valued below their original purchase price. Shin Min Daily reported that even with the recent boom in the property market, some condominiums which are more than 10 year old are priced about 20 per cent cheaper than newly built ones. Home buyers in Singapore [...]

HDB resale market still going strong

High Q2 sales figures from property firms carrying momentum The still-strong but slowing private homes sector is being left behind by the HDB resale market where prices and transaction activity are surging. Agencies report that the high demand seen early in the year has been sustained with sale numbers staying buoyant-and nudging up prices in [...]

Property caveats lodged in May down 41% on-month

It’s official – Singapore’s private residential property market cooled significantly in May. The number of caveats lodged fell 41 per cent on-month to 1,979, according to latest figures from Singapore Institute of Surveyors and Valuers. Still, property analysts do not expect foreign investor’s appetite for homes to be dampened. Industry data showed that District 4, [...]

Propnex 1st Quarter Seminar

CEO Ismail Gafoore gave very insightful view of what 2010 is going to be like. With backing of statistics, those who bought HDB houses from 2003-2006 will make the most of the profits NOW. Property prices are at its peak now, but private property is set to go higher. As in my previos report on [...]