Property Renting Tip #3: Rental Approval

(Reference: www.hdb.gov.sgwww.subcourts.gov.sg) For renting of an HDB flat, you have to apply for rental approval or renewal (this can be done online) before you lease the unit, and after meeting the Minimum Occupation Period (MOP). If the unit is not approved for rental renewal and the Tenants have to move out, the Landlord has to…

6.9m Population by 2030 – Good or Bad for Property?

By Mr. Propwise There’s been so much talk (and hype) about the Government’s recently released Population White Paper and Land Use Plan to support up to a 6.9 million population in 2030, but I think at the end of the day most people are still confused about one key question – is the long term…

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…

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…

Singapore Property News This Week #34

Residential Freehold Royalville and Ming Arcade up for sale again, with lower asking prices 174,176 sq ft residential Royalville located on Bukit Timah Road is asking $320 million to $370 million, lower than its earlier asking price of $370 million to $400 million. This is about $1,312 psf ppr, or $1,197 psf ppr if it…

Singapore Property News This Week #32

Residential Redas holds meetings with industry players regarding cooling measures A series of meetings has been held by the Real Estate Developers’ Association of Singapore (Redas) with industry players such as developers, property consultants, brokerage analysts and lawyers to discuss the impact of the recently implemented cooling measures. They discussed the intended objectives of the…

Singapore Property News This Week #31

Residential A need for clearer ABSD guidelines The Additional Buyer’s Stamp Duty (ABSD) is the latest governmental measure aimed at cooling the residential market. The ABSD is imposed on foreigners and companies buying any residential property (including residential land), permanent residents buying their second and subsequent property and Singapore citizens buying their third and subsequent…

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…

Singapore Property News This Week #29

Residential Savills: Less high-end residential transactions, but more non-PR purchase In a study by Savills Singapore, there have been fewer transactions in the market for high-end homes, but the proportion of non-permanent residents foreigners who bought such properties have increased. From January to November this year, there were1,285 caveats lodged for apartments and condos priced…

Singapore Property – Top 5 News Stories This Week #16

Here’s issue #16 of the 5 most important Singapore property news stories for the past week (thanks to Propertyguru). 1. First DBSS project in west to launch next week Lake Vista @ Yuan Ching, the first Design, Build and Sell Scheme (DBSS) project in western Singapore, will be launched for sale next week, with prices…