Amid a slowdown in overall demand for new private homes in Singapore in 2023, sales in the prime district have remained robust. Factors contributing to this trend include a lack of new launches in the prime district, narrowing price gaps compared to other regions, and the appeal of prime district properties for high-net-worth individuals. Key […]
Urban planning authorities are considering the conservation of People’s Park Complex, Southeast Asia’s first multi-use complex built in the 1970s. The Urban Redevelopment Authority (URA) has informed the property’s management corporation that it assessed the building to be of high heritage significance. While heritage groups welcome the move, it may impact the second collective sale […]
November witnessed a significant rebound in Singapore’s private home sales, driven by the successful launches of suburban condominiums – J’den in Jurong East, Hillock Green in Lentor Central, and the luxury prime district project Watten House. The surge in sales, up 286% from October to a four-month high of 784 units, was attributed to pent-up […]
The US Federal Reserve opted to keep interest rates steady and indicated a shift in its monetary policy, signaling the end of the historic tightening implemented over the past two years. The decision was accompanied by new economic projections, highlighting the expectation of lower borrowing costs in 2024. Key Points: Policy Statement: The Federal Reserve […]
As the deadline approaches for mortgages tied to the Singapore Interbank Offered Rate (Sibor), it’s reported that although around 30,000 borrowers switched between January and October, approximately 57,000 still hold onto their Sibor-based loans. The Association of Banks in Singapore (ABS) notes that Sibor is set to be discontinued by the end of 2024, with […]
The Government Land Sales (GLS) programme for private residential housing in the first half of 2024 is anticipated to see heightened interest in ten new sites, with eight on the confirmed list and two on the reserve list. Confirmed List Highlights: River Valley: A prime central area parcel, River Valley Green (Parcel A), spanning 0.93 […]
The Ministry of Finance (MOF) and Inland Revenue Authority of Singapore (Iras) have announced a one-off property tax rebate for owner-occupied homes in response to the anticipated increase in property taxes. The rebate, ranging from 100 percent for small public flats to 15 percent for private properties, aims to mitigate the impact of higher property […]
The Chinese Swimming Club (CSC) has successfully secured a 30-year lease renewal for its sports complex located at Amber Road. The renewal, achieved after four years of negotiations with the authorities, was entirely funded by the club’s reserves. The announcement follows recent news about the Raffles Town Club‘s land being slated for residential development upon […]
Singapore plans the ambitious Long Island reclamation project off the East Coast, property analysts anticipate a mix of public and private properties, potentially accommodating up to 60,000 new homes. While no concrete plans are in place, the development could significantly transform the area, offering more opportunities for waterfront living and job creation. The government’s announcement […]
Singapore is set to embark on a groundbreaking initiative with the Long Island project, aiming to reclaim three expansive tracts of land off East Coast Park. This ambitious venture, roughly twice the size of Marina Bay, responds to the growing threat of rising sea levels and potential inland flooding in the East Coast region. Key […]
