Thursday, September 7, 2017

Latest bout of en bloc sales could yield over 12,000 new homes

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.

Tuesday, February 7, 2012

Singapore property developers cautious about market outlook

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. 




Source : MediaCorp Pte Ltd by Yvonne Chan

Tuesday, January 31, 2012

Rate of increase in private home prices continues to moderate in Q4 2011

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.




Source : MediaCorp Pte Ltd

Thursday, December 8, 2011

Additional Property Cooling Measures

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 before 7 Dec 2011 and exercised within 3 weeks (i.e. on or before 28 Dec 2011) or the option validity period, whichever is the earlier.

2              The Government's objective is to promote a sustainable residential property market where prices move in line with economic fundamentals. Prices of private residential properties have continued to rise, albeit more slowly in the last two quarters. Prices are now 13% above the peak in 2Q1996 and 16% above the more recent peak in 2Q2008.

3              Even with the current economic uncertainties, the demand for private residential property remains firm. Given the uncertainty in stock markets and with interest rates remaining low, private property in Singapore continues to attract investors, local and foreign. Excessive investment demand will however make the property cycle more volatile, and thus increase the risks to our economy and banking system.

4              The Government has therefore decided to impose the ABSD to moderate investment demand for private residential property and promote a more stable and sustainable market. A higher ABSD rate for foreign buyers in particular is necessary, in view of the large pool of external liquidity and strong buying interest from abroad, and the relatively small size of the Singapore market. Foreign purchases account for 19% of all private residential property purchases in 2H2011, up from 7% in 1H2009.

5              The ABSD will apply in addition to the existing Buyer’s Stamp Duty on property purchases, which are applied at following rates: 1% on first $180,000 of purchase consideration or market value of the property (whichever is higher), 2% on the next $180,000 and 3% for the remainder.

6              For purchases made jointly by two or more parties (e.g. a Singaporean with a PR, or a PR with a foreigner), the higher applicable ABSD rate will be imposed. For example, if a citizen purchases a property with a foreigner, the ABSD of 10% will apply. In the case of a joint purchase by Singaporeans, who each already owns properties, the ABSD of 3% will apply as long as one of the purchasers already owns two properties.

7              Singaporean first time buyers and upgraders, and buyers of HDB flats[4] will not be affected by the new measure. Certain reliefs will be provided so that the measure will not impact home occupation demand by residents. For example, relief will be provided for Singaporean-foreigner/PR married couples buying their homes. Reliefs will also be provided for qualifying developers and for purchases falling within the scope of Singapore’s international trade agreements. More details will be provided on the IRAS website.

Adequate Supply of Private Housing to Meet Demand

8              The Government will also continue to ensure an adequate
supply of private housing to meet medium term demand. There are 41,000 unsold private housing units in the pipeline. The Government will inject sites that can potentially yield a total of 14,100 units in the 1H2012 Government Land Sales (GLS) Programme, similar to the supply in previous GLS programmes. Of these, about 7,000 units will be from sites on the Confirmed List. These numbers take into account the ample pipeline supply and the dampening effect of the ABSD.

9              To give more Singaporean households the chance to own or upgrade to private housing, the Government raised the monthly income ceiling for the purchase of new Executive Condominiums (ECs) from $10,000 to $12,000 in Aug 2011. We will expand the EC supply in 2012 and are prepared to release sites that can potentially yield 5,000 EC units for the entire year. Sites for 3,500 EC units will be made available in 1H2012, including 3,000 EC units on the Confirmed List. The Confirmed List quantum is comparable to the 3,000 EC units from 5 sites sold for the whole of 2011. More details will be provided in the press release for the
1H2012 GLS Programme on MND’s website.

10              The Government will continue to monitor the property market and adjust our property policies in step with changes in the market and the economy. Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister for Finance, said, “We have always had open markets and must keep them that way. However, the reality is that investment flows into our property market are now larger than before, and unlikely to recede as long as interest rates remain low. The additional buyer’s stamp duty should help cool investment demand, and avoid the prospect of a major, destabilising correction further down the road.”

11              Khaw Boon Wan, Minister for National Development, said, “We are ramping up the supply of new EC units through the Government Land Sales Programme. This will help higher-income Singaporeans own private condominium units in an affordable way, as the sale of new EC units is restricted to Singaporean households only.”
 
For updates read the full version from MND :
http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3199&category=Press%20Release&year=2011&RA1=&RA2=&RA3=#

For computation examples from IRAS : http://www.iras.gov.sg/irasHome/page04.aspx?id=12832

Tuesday, October 18, 2011

HDB upgraders set pace in private property market

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.
 

Source : MediaCorp Pte Ltd

Wednesday, October 12, 2011

New enhancements to HDB website e-services

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 in. This will enable them to make an informed decision before committing to buy or sell a flat.
 

Source : MediaCorp Pte Ltd

Sunday, October 9, 2011

Property outlook? You are all alone

When there were first signs that the United States economy would slip back into recession, the US dollar fell against most currencies. However, when the euro zone debt crisis deepened, the greenback appreciated sharply. This caused a small but sudden spike in the Singapore Interbank Offered Rate to which most housing loans are pegged to.

So, this is how our local rates can ostensibly rise even when the US Federal Reserve promises to keep US rates low till mid-2013.

Talking about safe havens, gold's latest bull market began in late 2008 because investors longed for something tangible. This was because the value of stocks, bonds and even currencies was shaken by the financial crisis. People wondered whether any corporation or government was strong enough to stand behind a certificate.

As a physical possession, gold was one of the few investments that needed no such guarantee. Sounds familiar? Property is also something that most people would consider as tangible.

However, since its August peak, gold has fallen more than 15 per cent to around US$1,600 an ounce today. The recent collapse suggests that the 2011 gold rush was a speculative bubble that may have popped. What about property?
 
More details at http://www.todayonline.com

Source : MediaCorp Press Ltd  by Colin Tan, is Chesterton Suntec Internationl's head of research & consultancy.

Tuesday, September 27, 2011

Own a Semi-Detached Bungalow for the price of a HDB

Imagine leasing your HDB out and using the rent to service the loan for your dream home in Iskandar Malaysia, just 10 minutes away from Singapore. Well, opportunity comes to those who takes action now. 

The Straits View Residences (Phase 4)

A freehold strata land parcel development located in the centre of the Iskandar Malaysia, just 10 minutes to Singapore. It consists of distinctively designed 186 exclusive semi-detached homes and 32 luxurious bungalows within a well gated and guarded community.


This low density luxurious development offers an exclusive clubhouse for the residents and the panoramic view of the Straits of Johor and Singapore.  

 

The Straits View Residences are proudly developed by Permas Jaya Sdn Bhd, a subsidiary of Bandar Raya Developments Berhad.



BRDB is Malaysia’s premier high-end property developer responsible for creating some of Malaysia’s most desirable addresses, including the award-winning The Troika, designed by world-renowned architects Foster & Partners; One Menerung and Bangsar Shopping Centre in the affluent neighbourhood of Bangsar; and CapSquare in the heart of midtown KL.



Permas Jaya is one of BRDB’s earliest developments. Piece by piece, BRDB have been adding to the landscape of Johor Bahru to create the expanse of residential choices that is Permas Jaya today; testament to the promise of creating homes of enduring value. 



Concept

·         Epitomize modern homes with lush greenery concept living within city center

·         Low density exclusive homes are uniquely comprised of Semi-Dee and Bungalows only

·         Entire precinct is rectilinear in configuration, allowing all units facing North – South orientation

·         Gated and Guarded Residences with comprehensive security features

·         Sanctuary clubhouse with Full range of facilities




Distinctive features

·         Land parcel govern by Strata Title Act

·         Low density residences only 6 units to one acre of land

·         Each home can accommodate 4 cars with its car park

·         Each homes has a majestic double volume living/dining area where orientated towards a garden view which allow an abundance of natural light, breeze and cross ventilation

·         Large master bedroom




Highlight

·         The one and only one gated and guarded development with exclusive clubhouse facilities  governing by Strata Title Act within Johor Bahru City

·         Within walking distance to established commercial facilities and Golf Course

·         A Sanctuary clubhouse sited on a 2 acres central park

·         Sophisticated infrastructure such as roads with pedestrian paths

·         Underground electrical/telephone supply lines

·         Centralized SMATV services

·         Concealed drains

·         Centralized sewerage systems and concealed services

·         Landscaped gardens

·         Tree-lined streets

·         Wide green spaces are the design directions

·         Landscaped pockets parks with walkways through breezeways

·         An iconic forest grove provides for green lungs




Security

·         A place where one can feel safe

·         A place one can sleep soundly at night

·         A place one can be away for long periods

·         A place where kids can be outdoors safely




Environment

·         A well maintained clean surrounding

·         A relaxing atmosphere like a resort

·         A serene, calm, seductive place

·         A comfortable, shady (not hot) location

·         Open concept and yet secured




Attractions/Facilities

·         Conducive environment for morning walks/exercise

·         Kids have a place to play

·         Central secured facilities akin to a club

·         Ample car parking

·         Footpath




Pride in Investment

·         Must be timeless

·         Must be able to project the image of their successful standing

·         Able to show-off to business associates

·         Development by reputable developer
Call Lawrence at 9853 3323 for Priority Preview Invitation. The Event is on Friday 30th September 2011 
between 5pm to 9pm.  As this is a Private Preview, location will be disclosed during your call.