Tag Archives: HOUSING

PROPERTY PRICES UP BY 60% OVER THE PAST 4 YEARS

The Monetary Authority of Singapore says home prices remain elevated in spite of the cooling measures introduced in recent years. It said that over the past 4 years, property prices rose by 60 percent. MAS Managing Director Ravi Menon said that it’s too early to ease cooling measures even as the property market appears to be stabilising. Over the last 3 quarters, prices declined by 3.3 percent.

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KWEK LENG BENG: RIGHT TIME TO REVIEW COOLING MEASURES

VETERAN property developer Kwek Leng Beng fears Singapore could lose its edge as an investment destination unless the Government reviews its property cooling measures. Mr Kwek, executive chairman of Hong Leong Group Singapore and City Developments, said foreigners were choosing to plough their investment dollars into countries like Britain, Australia and the US over Singapore, while Singaporeans have been investing abroad.

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WHEN PRIVATE PROPERTY WAS THE ONLY CHOICE FOR SOME

In the case of retirees who, when they were looking for their first homes, were not eligible for HDB flats because of the salary conditions, they had no choice but to buy private property. For many, the choice then, when there were few condominiums, was either a single- or double-storey landed property. If such a retiree needs to sell his private home today, he cannot sell it to a foreigner, who is likely to have greater buying power, as the house is less than seven storeys high - a restriction that does not apply to condominium units.

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KHAW BOON WAN: I AM GLAD THAT THE EXECUTIVE CONDO SCHEME IS HELPING SINGAPOREANS

The Executive Condominium (EC) Housing Scheme is designed to help Singaporeans (earning up to $12,000 per month) own a private condo at way below market price. This is achieved through several sales restrictions which are fully lifted after 10 years. The initial EC buyers enjoy a price advantage of about 30% in many cases. This is a significant benefit. In addition, first-timer households will also enjoy a CPF Housing Grant.

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HDB resale, private home prices fall in first 3 months of 2014

Singapore home prices fell in the first quarter of this year from the last three months of 2013, data released by the Housing and Development Board (HDB) and Urban Redevelopment Authority (URA) on Tuesday showed. HDB resale prices declined for the third consecutive quarter, dropping 1.5 per cent in the January-March period from October-December period.

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DEAR HDB: IF THE RESALE PROCEDURE ISN’T BROKEN, DON’T FIX IT!

HDB’s resale procedure change could wash away hopes of buyers and sellers to get a fair deal. Instead of buyers and sellers negotiating a price that benefits both parties, HDB has changed the resale process into a game of chance. Now, either the seller benefits from a low HDB valuation/high sale price, or the buyer benefits from a high HDB valuation/low sale price. There is no middle ground.

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Top Districts’ Executive Condominiums: Who are the ones?

The top performing EC, Bishan Loft, is a 99-years leasehold Executive Condominium development located at 31 – 35 Bishan Street 11. The reason for its appeal lies in its walking distance to Bishan MRT Station, which appeals to potential buyers as Bishan MRT station offers accessibility to the CBD via the North-South and Circle lines.

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HDB resale prices fall 1.3% in Q4

In the latest flash estimates released by the Housing and Development Board (HDB) yesterday, the Resale Price Index (RPI) fell 1.3 per cent to 202.1 for the final quarter of last year. Previously, it had fallen 0.9 per cent from a record high of 206.6 in the second quarter of last year. The 1.3 per cent fall was the RPI’s sharpest decline since the second quarter of 2005, when the index fell 4.8 per cent to 101.6 due to anti-cash-back measures aimed at stopping buyers and sellers from inflating prices to facilitate higher loans.

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