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…

6 Reasons Why Property Curbs Should NOT Be Removed

By Gerald Tay (guest contributor) There have been recent calls to the government asking to relax some of its property-cooling measures as demand for real estate wanes. MrGetty Goh, director at Ascendant Assets voiced his view on this, speaking at a Business Outlook Forum recently. He said the government should consider repealing the Seller Stamp…

Singapore Property News This Week #117

Residential Property market set for 2016 incident due to abundant supply It is reported that the sellers stamp duty (SSD) should be relooked to prevent a collision with a record number of private homes released to the market in 2016. According to Orange Tee’s data, a total of 33,555 units will make their ways into…

Property Selling Tip #4: Seller Stamp Duty

At the time of this writing, a Seller Stamp Duty (SSD) is applicable for the below situations: (1)    If you property is bought between 30 August 2010 to 12 January 2011, the following SSD applies: 3% of price or market value if the property is sold within the first year. 2% of price or market…

Singapore Property News This Week #77

Residential 99-year Sengkang EC sites draws $135m top bid The 151,779.6-sq-ft site located at the junction of Sengkang West Way and Fernvale Link attracted a total of 6 bids, with the top bid of $135 million or $296.50 psf ppr from CITY Developments’ (CDL) unit Verspring Properties. The site has a 455,338-sq-ft GFA that can…

Do the Additional Stamp Duties and HDB Cash Over Valuation Make Sense?

By The Folks(guest contributor) A letter from a certain Mr Zhuang Li-Hao was published in the Straits Times forum page recently. Mr Zhuang felt that existing policies curb transaction volumes, but are by themselves inflationary. This is why prices continue to rise despite the various rounds of cooling measures. He suggested two ways to modify…

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…

Singapore Property News This Week #6

Here’s our summary of the important residential, commercial and industrial news this week. We hope this helps you to save time catching up on the news! RESIDENTIAL Slower GCB sales due to gap between offer and asking price Widening gap between offer and asking prices has decreased GCB sales. For example, asking price for a…

Singapore Property News This Week #3

Here’s our summary of the important residential, commercial and industrial news this week. We hope this helps you to save time catching up on the news! RESIDENTIAL Average holding period for subsales increased to 2.31 years in Q1 2011 Savills’ study revealed that the average holding period for subsales in Q1 2011 was 2.31 years,…

UPDATE: Summary and impact of the latest property measures

It’s all over the media – the government has just announced another round of cooling measures for the property market. Summary of the new measures Here’s a summary of the measures: 1) The holding period for Seller’s Stamp Duty (SSD) to be imposed has been increased from the current three years to four years. 2)…