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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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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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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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