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Govt cuts private housing supply from confirmed land sale sites due to Covid-19 fallout

The supply of private residential housing from confirmed sites under the government land sales (GLS) programme for the second half of 2020 has been reduced to take into account the fallout from the global Covid-19 situation, the Ministry of National Development (MND) announced on Wednesday morning (June 24). The private home supply of 1,370 units […]

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Virtual tours and opportunities: The Singapore property market during COVID-19

Singapore is now in the 1st phase of the post-circuit breaker period. Developers’ show galleries remain closed, and property agents are still unable to conduct face-to-face meetings or viewings with prospective buyers. Amid these challenging operating conditions, new private home sales fell 12% in the first quarter. In the same period, prices fell 1%. Singapore […]

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New private home sales rebound in May despite virus curbs

Developers in Singapore sold 484 new private homes last month, going by sale caveats, Knight Frank Singapore said yesterday. This is 74.7% more than the 277 new private homes they sold in April. A total of 967 caveats for private homes were lodged during the circuit breaker from April 7 to June 1, said Knight […]

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Singapore condo resales sink further but prices hold steady in 2nd month of circuit breaker

Resale prices for non-landed private homes held steady in May despite another plunge in sales volume during the second month of the circuit breaker period, according to flash figures from real estate portal SRX Property on Tuesday (June 9). About 171 units were resold in May, similar to levels seen during the financial crisis of […]

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Malaysia, Singapore agree to defer HSR project until Dec 31

Malaysia and Singapore said on Sunday (May 31) they have reached an agreement to defer the Kuala Lumpur-Singapore High-Speed Rail (HSR) project again until the end of the year. The construction of the 350km-long HSR project has been suspended since September 2018 and was due to resume at the end of May. – 31 May […]

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Rich Chinese snapping up luxury homes from Singapore to Sydney

Even in Singapore, where a partial lockdown remains in place, activity is picking up via online platforms. 3 Chinese clients bought 6 apartments worth a combined S$20 million at Marina One Residences this month without any virtual tours. One investor spent about S$12 million on 3 separate 3-bedroom units in the same development, a 5-minute […]

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Show galleries to remain closed even after 1 June

Show galleries that were set up by property developers to market and sell properties “shall remain closed until further notice. Urban Redevelopment Authority (URA) has said that show galleries by developers shall remain closed even as the circuit breaker measures is gradually lifted from 2 June. – May 22, 2020 Read Full Article at https://www.propertyguru.com.sg/property-management-news/2020/5/188535/show-galleries-to-remain-closed-even-after-1-june

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Construction workers to be tested regularly when projects gradually resume after circuit breaker

Contractors will be responsible for the costs incurred from carrying out these new measures, said National Development Minster Lawrence Wong at a press conference. He acknowledged that this will lead to higher construction costs that will inevitably be passed on to the consumer. “All of us have to be prepared to pay this higher cost, […]

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Construction sector can gradually resume work from June 2

The construction sector can gradually resume operations from June 2, starting with critical projects and while adhering to new safe management guidelines. Priority will be given to projects that cannot be left idle for too long for safety reasons and critical projects such as MRT works, deep tunnel sewerage and previously-suspended residential projects. – 15 […]

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Private residential transactions continued to push on during circuit breaker

“A quick count of real estate caveats across all sectors from 7 April to 30 April showed properties being transacted, with the private residential sector leading in volume with 286 caveats,” said Leonard Tay, Head of Research at Knight Frank Singapore. For the whole month of April, the private residential market registered a total of […]

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COVID-19 (temporary measures) act extends to buyers who buy from developers

The COVID-19 (Temporary Measures) Act has been extended to cover lease of residential properties, option to purchase (OTP) agreements as well as sale and purchase agreements (S&PA). Legal reliefs are now available to property buyers with agreements to purchase or lease homes from developers in case they experience difficulties in paying their obligations due to […]

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Temporary Relief Measures for Property Sector due to Coronavirus Disease 2019 (COVID-19) Pandemic

The Government announced today temporary relief measures for property developers and individuals affected by disruptions to construction timelines and sales of housing units resulting from the COVID-19 pandemic, and in particular the implementation of the circuit breaker from 7 April to 1 June 2020. The temporary relief measures, to be implemented with immediate effect, are: […]

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Repayment of a wider pool of loans may be deferred from 6 May

The Monetary Authority of Singapore (MAS) announced that individuals may request for the deferment of loan repayments which include commercial and industrial property loans, education, renovation, and motor vehicle loans starting 6 May 2020. The measure is part of the second relief package rolled out by MAS in order to aid Singaporeans who are financially […]

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Private home sales hit five-year low in March, set to worsen with April’s circuit breaker

Sales of new private homes hit a five-year low in March as tightened Covid-19 safe distancing measures resulted in fewer major condominium launches and shuttered showflats, data from the Urban Redevelopment Authority showed on Wednesday (April 15). Excluding executive condominiums (EC), a total of 660 units were sold last month, a steep 32.4% drop from […]

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MAS waives TDSR limits for deferred mortgage repayments

The Monetary Authority of Singapore (MAS) has clarified that certain limits for deferred payments on consumer loans and mortgages will be waived in a bid to help borrowers get through the economic slump. It explained that the Total Debt Servicing Ratio (TDSR) will not apply to deferment of mortgage repayments for commercial, industrial and residential […]

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Announcement (Updated on 21 April 2020)

In accordance with Singapore Government’s latest measures to contain the COVID-19 outbreak, Urban Redevelopment Authority (URA) has issued an advisory to all developers with a sale licence to close their show galleries from 7 April to 1 June 2020 (inclusive). All on-site, physical property transaction activities should be postponed until after 1 June 2020 or […]

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Cluny Park GCB sold for $40mil

A bungalow in Cluny Park is being sold for $40 million or nearly $1,964 per sq ft based on the freehold property’s 20,369 sq ft area, reported The Business Times. Located within the Cluny Hill Good Class Bungalow (GCB) Area, near the Singapore Botanic Gardens, the bungalow was completed over two decades ago. The buyer, […]

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New home sales up 114% in Feb, amid virus outbreak

Analysts cite reasons such as low interest rates and competitively priced projects. Singapore’s new home sales last month surged more than 114% from a year ago, defying the coronavirus outbreak and a looming global recession. Posting the 2nd-strongest February sales performance in 8 years, developers moved 975 private homes – up 57.3% from the 620 […]

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February’s private home sales up over 57% month-on-month: URA

DEVELOPERS in Singapore sold 975 private homes in February, 57% higher than January’s take-up, as more units were launched for sale last month. 933 units were launched in February, of which 601 were in the Core Central Region, 115 in Rest of the Central Region and 217 were Outside the Central Region. – Mar 16, […]

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Punggol residents to get four more train stations by 2031

By 2031, Punggol residents will get 4 more train stations to directly connect them to the eastern part of Singapore, to places like Tampines and Pasir Ris. The line is an extension of the Cross Island Line. 3 of the 4 stations – Punggol, Riviera and Pasir Ris – will be interchange stations. – 10 […]

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