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HDB resale prices increase at fastest pace in 8 years, expected to continue rising

With prices trending downwards since 2013, the market for Housing and Development Board (HDB) resale flats may have turned the tide as prices have now increased at their fastest pace in 8 years. The number of units sold hit a 10-year-high of 7,787 Analysts say a larger proportion of newer flats entering the market was […]

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New private home sales hit two-year high in September

Despite still being in the midst of a recession, new home sales showed little signs of slowing down. In September, developers sold 1,329 new private homes (excluding executive condominiums (ECs)), up 5.6% from 1,258 units in August, according to Urban Redevelopment Authority (URA) data. This marks the fifth straight month-on-month (m-o-m) increase since the circuit […]

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Additional Temporary Relief Measures for Property Sector due to COVID-19 Pandemic

The Government announced additional temporary relief measures for property developers affected by disruptions to construction timelines resulting from the COVID-19 pandemic. This is in addition to the temporary relief measures announced on 6 May 2020. These temporary relief measures do not affect the other existing residential property market cooling measures which remain relevant to ensure […]

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Individuals affected by Covid-19 may apply to reduce monthly property loan payments

From Nov 9, individuals with mortgage loans may apply to reduce their monthly installments and pay just 60% of the usual sums due for up to 9 months. This is among a series of Covid-19 relief measures that will be extended beyond Dec 31, the Monetary Authority of Singapore (MAS) said on Monday (Oct 5). […]

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S’pore’s worst recession in 55 years but why does the private property market not reflect that

Singapore’s economy contracted 13.2% year-on-year in the 2nd quarter, leading the Government to downgrade its forecast for the country’s gross domestic product to shrink between 5% and 7%, instead of between 4% and 7%. Yet, in spite of the grim economic outlook, the private residential market seems to have bucked the downward trend. The Urban […]

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Controller of Housing cracks down on reissue of OTP for property purchase

Controller of Housing (COH) announced today that the Option to Purchase (OTP) of a property will expire 3 weeks after the Sale and Purchase Agreement and copy of the title deeds are delivered to a potential homebuyer. Under the new ruling which takes effect today, homebuyers will risk forfeiting 25% of their booking fees if […]

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August new home sales surge to 11-month high on pent-up demand

PENT-up demand continues to drive new home sales with 1,227 units sold in Singapore in August, an 11-month high with confident buyers pushing prices upwards amid worsening economic conditions and rising unemployment. Evan Chung, the head of Knight Frank’s property network, said the profile of buyers fit that of mostly “needs-based” purchasers. “The 2nd factor […]

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Queen Astrid Gardens up for en bloc sale

Queen Astrid Gardens has been launched for collective sale for a guide price of $126.8 million or $2,037 per sq ft on land area. The 999-year leasehold, 4-storey condominium sits on the Queen Astrid Park Good Class Bungalow Area (GCBA), enjoying over 100 metres frontage onto Queen Astrid Gardens and has a site area of […]

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Why Woodleigh condo is finally getting some love from buyers

In its 1st year of launch, only 26 buyers chose to exercise their options for the 667-unit condo. Although buyers knew that The Woodleigh Residences had the distinct advantage of being a mixed-use development atop Woodleigh MRT station, they did not agree with the launch price of $2,000 per square foot (psf). In May 2019, […]

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Singapore new home sales up in July amid worsening economic outlook

New home sales continued to rise for a third straight month amid a worsening economic outlook, with developers selling 1,080 non-landed private homes in July, up 8.2% from 998 private homes in June. But year on year, sales were down 8.4% from 1,179. New sales were propped up mainly by Treasure at Tampines, Parc Clematis, […]

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Condo resales rebound after circuit breaker

The volume of resale private non-landed homes changing hands nearly doubled in July, with about 978 units sold compared to 496 units in June. Resale volume last month was up 10% from July last year, and 9.3% higher than the 5-year average volumes for the month of July. Just over half of the units sold […]

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HDB resale volume in July highest in 2 years

The number of Housing Board flat resale transactions continued to remain high in July, with prices creeping up. An estimated 2,470 HDB resale flats were sold last month, a 0.7% increase from June when 2,453 units were sold. July’s sales estimates are the highest monthly sales in 2 years since July 2018, when 2,553 units […]

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Competition to heat up at District 21 with upcoming launch

Indicative prices for the 633-unit freehold project by Qingjian Realty (South Pacific) Group and Perennial Real Estate Holdings start from S$1,800 per square foot (psf). The former Goodluck Garden site on Toh Tuck Road was acquired via a collective sale in 2018 for S$610 million. “In the vicinity, the nearest direct competitors would be View […]

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Singapore private home prices eke out surprise 0.3% rise in Q2

Defying Covid-19 circuit breaker measures and a recession, private home prices in Singapore edged up 0.3% in the second quarter from the previous 3 months, according to final data from the Urban Redevelopment Authority (URA) on Friday (July 24). The URA also said that prices of landed properties remained unchanged in the second quarter of […]

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HDB resale transactions plunge 41.9% in Q2

The number of Housing and Development Board (HDB) flats sold in the resale market in the second quarter plunged 41.9% amid the COVID-19 “circuit breaker” period. Prices inched up 0.3% from Q1 to Q2, with the resale price index. HDB will launch about 7,800 Build-to-Order (BTO) flats in Ang Mo Kio, Bishan, Choa Chu Kang, […]

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MAS Annual Report 2019/2020

The property market has remained stable, thanks in part to the macroprudential measures in place and new temporary relief measures in response to COVID-19. The property cooling measures — progressively implemented over the last 10 years — have helped to temper price increases and bring prices more in line with underlying economic fundamentals. The stabilization […]

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New private home sales post surprise rebound

Singapore is undergoing its worst recession since independence, but developers sold 998 non-landed private homes last month, up 105% from May, when 487 private homes were transacted. Including 33 EC units sold, 1,031 new non-landed homes were taken up last month, about 25% more than a year ago. The number of private homes transacted at […]

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Green Court in Geylang relaunched for en bloc

GREEN Court, a freehold mixed-use development along Geylang Road, has been relaunched for collective sale by tender. Owners expect more than S$28m. Under the Urban Redevelopment Authority’s 2019 Master Plan, the site is zoned part “Commercial” with a gross plot ratio (GPR) of 3.0, and part “Residential” with a GPR of 2.8. This allows redevelopment […]

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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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