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Recent blog posts

Posted by on in Residential
Loan-restriction measures and buyers' stamp duties aside, two other factors - aggressive discounts offered by developers on new units and weak leasing conditions - drove resale transactions and prices of non-landed private homes down last month.
The developers of a few major condominium projects recently cut prices to drive up sales and clear their stock by their deadlines, failing which they would have to pay extension charges. This move has siphoned some demand away from the resale market, analysts said.
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New sites rolled out yesterday stirred excitement in the market, even as the government adopted a cautious approach to private housing in the latest land sales programme for H2 2014 to account for the twin factors of oversupply and weaker demand.
The new sites were rolled out under both confirmed and reserve lists in the residential and commercial property sectors.
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Posted by on in Residential
Private housing sites at Lorong Puntong in the Upper Thomson area and in Tampines Road (diagonally opposite Kovan MRT Station) are among the choicest sites in the second half 2014 Government Land Sales (GLS) Programme, said property consultants.
The two plots are among the new sites on the latest confirmed list.
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Developers have collectively paid up to $55.1 million in extension fees for unsold units in their private condo projects since 2012. They could potentially fork out another $80.7 million to extend the sales period for another year if they do not sell their inventory by year-end.
A total of 24 condo projects, mostly high-end ones, are still not fully sold two years after receiving their temporary occupation permits (TOPs) between 2010 and 2012, the study showed. Under the government's Qualifying Certificate (QC) rules, developers have to pay extension charges to extend the sales period after two years of the project's TOP.
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The Urban Redevelopment Authority's (URA) 2014 Master Plan was gazetted yesterday, along with 75 heritage buildings slated for conservation.
The buildings, which were proposed for conservation under the Draft Master Plan 2013, include the Sri Krishnan Temple, Malabar Mosque, Alexandra Hospital and Queenstown Public Library.
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Posted by on in Commercial
Living in the bustling Central Business District has caught on, with plenty of property launches in the area in recent years.
Many people love the convenience of being just five minutes from work, but some have grumbled at a lack of amenities. There are no schools, supermarkets and shopping centres in close proximity, they say.
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Young couples taking part in a dialogue on housing were largely against living in new jumbo-sized flats with their parents after marriage, echoing the preliminary results of an online poll that showed most young couples would rather live on their own.
Most of the 20 couples taking part in the Ministry of National Development (MND) session were worried about the lack of privacy of such three-generation (3Gen) flats.
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An overwhelming majority of property consultants predict that the government will further trim land supply for private housing development in the confirmed list for the second half of this year, citing the sharp slowdown in home sales and the substantial supply pipeline.
They also expect the authorities to offer commercial sites on the confirmed list and/or reserve list in locations such as Paya Lebar and Woodlands to speed up their development as commercial hubs.
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Posted by on in Uncategorized
Housing will remain affordable for Singaporeans, Prime Minister Lee Hsien Loong pledged yesterday, as he gave a recap of the progress made on that hot-button issue since 2011.

In the last three years, 52,000 flats have been built, the equivalent of two Clementi new towns.

The amount of subsidies given out for flats has almost doubled.
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Posted by on in Uncategorized
Resale prices fell last month as cheaper units at property launches tempted buyers to look for new homes.

Prices overall fell 1 per cent in April from March and followed a revised 1.4 per cent dip in March from February, according to Singapore Residential Price Index flash estimates yesterday.
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Posted by on in Residential
The buzz in the Singapore office leasing market continues, with a string of deals either sealed or in advanced stages of negotiations.

Vodafone has leased a 30,000 square foot floor at Asia Square Tower 2. Jardine Lloyd Thompson is said to be nearing an agreement to lease 40,000 sq ft at CapitaGreen, which will be completed on the former Market Street Car Park site by year-end.
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One Raffles Place shopping mall will reopen its doors today in a soft relaunch, after completing a major refurbishment exercise that gave it a new facade.
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Posted by on in Uncategorized
The Housing & Development Board (HDB) is set to launch more projects in Tampines North, Punggol Matilda, and Bidadari regions - the three new towns that were identified for further development under the Draft Master Plan 2013.

In the second half of this year, housing projects will be launched in Tampines North and Punggol Matilda, followed by Bidadari in the second half of 2015.
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Posted by on in Uncategorized
About 80 per cent of the units in a condominium being developed in Kovan will be dual-key apartments, which suit multi-generational families - and owners aiming to avoid stamp duty.

All 94 of the three- and four-bedders at the 222-unit Trilive, and 88 of the 124 two-bedders, will feature two separate entrances.
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Posted by on in Uncategorized
Demand for private rental homes rose in the first quarter and could grow further as the economy improves, but the glut of vacant properties means rents will likely weaken or stay flat.

It noted that there were 13,077 leases signed in the three months to March 31, up 4 per cent on the same period last year.
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Ximeng Land, controlled by mainland China parties, is relaunching the balance 12 luxury villas on Pearl Island in Sentosa Cove at $2,185 psf on land area. The price is inclusive of a 5 per cent discount to the $2,300 psf list prices for the units. A year ago, the developer's asking price was $2,400 psf.

Absolute prices vary from about $14.3 million to $25.5 million per villa. Pearl Island is one of the five man-made islands in the upscale waterfront housing district.
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Posted by on in Uncategorized
A number of property developers seem to have fallen off the radar, with hardly any land bids or new projects in recent years.

Some are longstanding market players but rising land prices and market cycles have led to fewer land acquisitions and projects. Other developers were dragged under by the financial crisis.
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The upcoming Skywoods condo in Dairy Farm Heights is having a hard time shifting units as it battles the slowing real estate market and tough competition from other properties in the area.

Sales at the 99-year leasehold project being developed by TA Corporation, Hock Lian Seng Holdings, King Wan Corp and Far East Distillers have been lacklustre.
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Posted by on in Uncategorized
Buyers snapped up scores of units at the relaunch of The Panorama condominium in Ang Mo Kio yesterday after the developer slashed prices by 12 per cent.

The success of this relaunch, after a lacklustre initial launch in January, was down to getting the pricing right, analysts said.
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The property cooling measures adopted by Singapore from 2009-13 - known to economists as "macroprudential measures" - were an essential complement to monetary policy and have succeeded in containing the property market bubble, according to Monetary Authority of Singapore (MAS) managing director Ravi Menon.

However, they were introduced during a "highly unusual situation". As such, they will not be a permanent feature of policy and will only be used from time to time.
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