Singapore Property News This Week #146

Residential Resale HDB flat COV hits zero for the first time in almost a decade The overall median cash-over-valuation (COV) for resale HDB flats hit zero in February, the first time since 2006, as demand for resale public homes dropped. The overall median COV for January was $3,000. According to the transaction records from agencies…

Property Market Outlook in 2014 and Beyond

By Mr. Propwise Ah, how quickly the year has flown by. It’s that time of the year again, where I dust off my crystal ball and peer into it, then stick my neck out and try to say something intelligent about the future direction of the property market. 2013 was certainly an interesting year, where…

Singapore Property News This Week #98

Residential Slowdown in HDB resale prices growth in Q1 The Resale Price Index (RPI) for HDB flats saw a 1.2% increase to 205.4 in Q1 2013, compared to the 2.5% increase in Q4 2012. Reasons for the slowdown include the capping of MSR at 30% and 35% of gross monthly income for loans granted by…

Singapore Property News This Week #45

Residential HDB upgraders finding it harder to purchase private property With the slower resale market, coupled with decreasing cash-over-valuation (COV) figures, HDB upgraders are finding it harder to upgrade to private properties.Based on PropNex Realty’s February resale deals, median COVs for all flats other than three-room flats fell by $3,000 to $7,000. In January, the…

What the Raised Income Ceiling Means For the Property Market

By Dennis Ng (guest contributor) The news was expected as the then Minister for National Development (Mr. Mah) had mentioned in the run-up to General Elections in May 2011 that the income ceiling for HDB flats would be increased. The changes announced by Prime Minister Lee during National Day Rally on Sunday night 14 Aug 2011…