Singapore Property News This Week #147

Residential Procedure for resale HDB transactions to be changed The procedure for reporting resale Housing Development Board (HDB) transactionshas been changed to shift the focus from cash-over-valuation (COV) to market prices. Buyers now are required to get the option to purchase (OTP) before asking for a valuation from HDB who will not accept such requests…

Singapore Property News This Week #142

Residential Optimistic outlook for Riverbank @ Fernvale Sale of units at UOL Group’s 99-year leasehold 555-unit private condominium Riverbank @ Fernvale will begin next week. The average price indication is slightly over $1,000 psf. Prices of a 495 sq ft one-bedroom unit start from $476,000, or around $962 psf. A 947 sq ft three-bedroom unit…

Singapore Property News This Week #138

Residential Strong top bid for Jurong West EC site Despite the latest rule changes affecting the executive condo market, an EC site in Jurong West drew 12 bids with the highest bid at $381.81 psf ppr from a Koh Brothers-Heeton Homes partnership. The second highest bid was only 0.45 percent lower, from a joint venture…

Singapore Property News This Week #137

Residential Wheelock unveils condo The Panorama in Ang Mo Kio Wheelock Properties has unveiled the condo project The Panorama in Ang Mo Kio Avenue 2, its first 99-year suburban condo project in Singapore in two decades. The development has 698 units in six blocks – two 20-storey blocks, four 17-storey blocks with two levels of…

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…

Singapore Property News This Week #108

Residential Afiniti Residences sold out on first day of launch Afiniti Residences, a 147-unit condominium project in Iskandar Malaysia, was sold out on its highly anticipated launch by the 50:50 joint venture between Temasek Holdings and Pulau Indah Ventures. 25% of the buyers were Singaporeans, while the rest were mainly Malaysians. Some 88 units were…

Are the Effects of 7 Rounds of Property Cooling Measures Wearing Off?

By Mr. Propwise It’s been almost five months since the announcement of the seventh round of property cooling measures by the government, which imposed steeper stamp duties and lower loan-to-valuations for mortgages. Have the measures had their intended effect to curb the rapid rise of property prices in Singapore? 2013Q1 URA PPI moderated, but prices…

HDB New Flat Prices to Fall by 30%?

By Mr. Propwise In a recent parliamentary speech, Minister Khaw Boon Wan suggested that his Ministry is looking at ways to bring Build-To-Order (BTO) flat pricing in non-mature estates down to “four years of salary”, where it was before the current property bull market started more than six years ago, down from the current 5.5…

Singapore Property News This Week #85

Residential EC market may see review The Forestville EC project was stopped from selling its units after its launch, a sign that the authorities are reviewing or revising measures that will result in the developer having to make changes to the proposed development plan. It was launched for balloting without URA’s approval to sell. The…