Singapore Property News This Week #87

Residential Few units sold at showflats following new cooling measures The new cooling measures which include the cap on EC unit sizes at 160 sq m, and the inclusion of private enclosed spaces and private roof terraces in the 10% bonus GFA had resulted in slower sales at showflats – CityLife@Tampines, which had only 20…

Singapore Property News This Week #50

Residential ABSD reimbursing may be a cause for concern To prevent the ABSD from affecting sales, developers have been offering discounts, rebates and even reimbursing the ABSD. This may potentially distort property and loan values and obscure transparency in the market especially since these discounts are given only after the transaction, meaning that the prices…

New Home Sales Surge in February – More Government Measures Ahead?

By Mr. Propwise Sales of residential property by developers surged in February to exceed even those during the 2007 and 2009 booms. The interesting (and perhaps worrying) aspect is that the sales were largely driven by sales of Executive Condominiums (ECs) and mass market condos. In my opinion, this increases the risk of further Government…

Additional Buyer’s Stamp Duty – The Straw that Breaks the Camel’s Back

By Mr. Propwise On the evening of December 7th the Government announced an Additional Buyer’s Stamp Duty (ABSD) to be imposed on certain categories of residential purchases. The intent is crystal clear – stamp out (pardon the pun) investment demand, especially from foreigners. There have been a flurry of news reports and opinion pieces, and…