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Latest bout of en bloc sales could yield over 12,000 new homes ABOUT 12,000 new private homes could potentially be generated from the 10 residential collective sales that have been transacted since last year as well as another seven launched whose tenders have yet to close or be awarded. While the above analysis by JLL suggests a substantial supply of private homes that could be launched - mostly in the second half of 2018 and in 2019 - the property consulting group is not alarmed. It argues that this will be timely as the pipeline supply of unsold uncompleted private homes has dwindled to 15,085 units as at the end of the second quarter of 2017 - from 21,489 units a year earlier, and the recent peak of 39,184 units as at the end of the fourth of 2011. These figures from the Urban Redevelopment Authority (URA) are for projects with planning approvals.

SINGAPORE : Property developers seem pessimistic about the outlook for Singapore's real estate market in 2012, with some analysts foreseeing a five to ten percent drop in property prices this year. But market watchers also say the strong interest in recent property launches could defy these forecasts and even lead to more cooling measures. Celebrations continue but property developers are still in the dark about the outlook for Singapore's property market in 2012. Mr Wong Heang Fine, President, Real Estate Developer's Association of Singapore, said: "We are cautious. On the market going forward, it all depends on how the global economy goes in the next eleven months. So it's really anybody's guess." URA data shows the rate of price increase for private residential properties moderating for the ninth consecutive quarter with rentals also tapering off.  More details at  http://www.channelnewsasia.com Source : MediaCorp Pte Ltd by Yvon

SINGAPORE: The rate of increase in private residential property prices continued to moderate for the 9th consecutive quarter since Q4 2009. Flash estimates by the Urban Redevelopment Authority showed that the private homes index rose to 206.2 points in Q4 2011, up 0.2 per cent, compared to the 1.3 per cent increase in Q3. Prices of non-landed private residential properties increased by 0.5 per cent in the Core Central region and by 0.6 per cent in the Outside Central region, in the quarter. There was no change in prices in the Rest of the Central region. But compared to Q3 figures, prices of non-landed private residential properties went up by 0.7 per cent in the Core Central region, 1.2 per cent in the Rest of the Central region and 2.1 per cent in the Outside Central region. More details at  http://www.channelnewsasia.com Source : MediaCorp Pte Ltd

MND issued a media release at 740pm last evening.   Additional Buyer's Stamp Duty for a Stable and Sustainable Property Market 07 Dec 2011 07:40 PM 1              The Government announced today an Additional Buyer’s Stamp Duty (ABSD) to be imposed on certain categories of residential property purchases. The ABSD will be imposed over and above the current Buyer’s Stamp Duty, and will apply to the purchase price or market value of the property (whichever is higher) for the following purchases: a)    Foreigners and non-individuals (corporate entities) buying any residential property will pay an ABSD of 10%; b)    Permanent Residents (PRs) owning one and buying the second and subsequent residential property will pay an ABSD of 3%; and c)    Singapore Citizens (Singaporeans) owning two and buying the third and subsequent residential property will pay an ABSD of 3%. The ABSD will take effect on 8 Dec 2011. Remission of ABSD will be given for options granted on or

SINGAPORE: The private residential market saw a rebound in September. Figures released by the Urban Redevelopment Authority (URA) on Monday showed 2,064 units, including executive condominiums (ECs), were transacted. This is the highest number of monthly transactions this year and a significant 26 per cent increase from August's 1,638 units. Treasure Trove, a development in Punggol, accounted for about 40 per cent of the transactions with more than 680 units sold. PropNex Realty said the homebuyers are mainly HDB upgraders, attracted to the pricing and the proximity of the development to the Punggol MRT. It said the revision of income ceiling had prompted many to purchase ECs.   More details at  http://www.channelnewsasia.com Source : MediaCorp Pte Ltd

SINGAPORE: From Wednesday, flat buyers will be able to enquire about the transacted resale prices within a 500-metre radius from any existing HDB block or DBSS project. They can do this by specifying the HDB block or DBSS project, and a summary table on the range of transacted resale prices by flat type within a 500-metre-radius of the target property will be displayed. This will also include the range of floor areas and the number of resale transactions. Users can access this enhanced e-Service on the HDB InfoWEB at http://www.hdb.gov.sg/map from 10am on 12 October. Currently, the public can check for resale transactions made over the last one year via the Resale Flat Prices e-service or the Centralised Map Services enquiry facility. However, there is no enquiry facility for users to search using a distance criterion. With the latest enhancement, the HDB said the public will have better information on resale prices near the particular property they are interested