Singapore Property News This Week #143

Residential A breather for homeowners who bought before last June 29 With immediate effect from Feb 10 this year, the Monetary Authority of Singapore (MAS) has announced that refinancing of loans for homes bought before June 29, 2013 will be exempted from the total debt servicing ratio (TDSR) cap of 60 percent. The cap means…

Singapore Property News This Week #135

Residential November new home sales: buyers more selective on location and pricing November’s sales figures for new private homes show that buyers are now more selective on location and attractive pricing. According to data from the Urban Redevelopment Authority (URA), developers moved 1,228 units (excluding executive condominiums) in November, which is a 15 percent increase…

When a Property Billionaire Turns Bearish

By Mr. Propwise It is a rare occasion when a billionaire property developer talks the market down. Kwek Leng Beng, Chairman of City Developments Limited (CDL), a leading real estate developer in Singapore, did just that recently when he called buying land in Singapore at today’s prices “suicidal” and predicated an up to 5 percent…

Singapore Property News This Week #113

Residential Sales at Vue 8 affected by new home loan curbs Only 50-plus units were sold at Vue 8 Residence, a 99-year leasehold project in Pasir Ris, due to the general air of caution and longer bank loan approval process after the new total debt servicing ratio (TDSR) framework took effect on June 29. The…

Singapore Property News This Week #111

Residential Private home prices increase in second quarter According to the Urban Redevelopment Authority’s second quarter flash estimates, the private home price index increased by 0.8 percent from Q1, with a 3 percent increase for non-landed home prices in suburban areas. In Q1, the increase for private home and non-landed home prices was 0.6 and…

Who the New Total Debt Servicing Ratio Will Kill

By Property Soul (guest contributor) The Monetary Authority of Singapore (MAS) introduced the Total Debt Servicing Ratio (TDSR) framework for all property loans granted by financial institutions (FIs), with effect from 29 June 2013. In for the kill Computations of the TDSR affects properties that are residential or non-residential, owned individuals or companies, new applications…

New Shadow Cooling Measures from MAS – the Leverage Killer?

By Mr. Propwise It’s been less than six months since the Seventh Round of Property Cooling Measures and around four months since the hike in high-end property tax rates in Budget 2013, but the property market has not cooled. Developer sales, in particular, are still going strong while the resale market has been steadily recovering…

7th Round of Cooling Measures – The Anvil to Smash the Camel’s Back?

By Mr. Propwise As I had discussed previously, skyrocketing residential and industrial property prices dramatically increased the risk of additional government measures to prevent a destabilizing property bubble from forming. And this time, no punches were pulled. On 11 January 2013 the Ministry of Finance, Ministry of National Development, Monetary Authority of Singapore and Ministry…

Game Over? New Property Cooling Measures Restrict Mortgages

By guest contributor Gerald Tay On 5th October, Friday, the Monetary Authority of Singapore (MAS) announced that it was capping the length of a home loan at 35 years. With effect from 6th October, 2012: All residential property loans will be subjected to a maximum of 35 years loan tenure, including HDB mortgage loan tenures….