SOR-pegged home loans axed due to low profit margins

Singapore’s swap offer rate (SOR) — a rate signifying the synthetic cost of borrowing Singapore dollars, by borrowing US dollars at similar maturity and exchanging them for Singapore dollars — turned negative last week as funds seeking safety flooded the local market. This resulted in several mortgage brokers receiving orders from DBS Group and Maybank
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Govt raises income ceiling for HDB flats

The government has announced that the Housing and Development Board (HDB) will be raising the income ceiling for HDB flats, from S$8,000 to S$10,000. This will be followed by a raise in the income ceiling for executive condominiums (ECs) from S$10,000 to S$12,000. In addition, it has promised to launch another 25,000 build-to-order (BTO) flats
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Alternative home: Service apartments

Moving into service apartments could be a better choice for some expats. Why is this so? Typically, there are a few reasons: Convenience and personal service offered at this type of accommodation Services can include house cleaning and baby-sitting Fully furnished units which are spacious and ‘up-class’ Safe and well-secured Availability of amenities e.g. pool,
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Debate continues over foreign ownership

According to a poll by PropertyGuru, approximately 66 percent of Singaporeans are totally against foreigners buying landed homes in Singapore. The strong views against foreign ownership is not surprising as the government has over the past few years, relaxed immigration laws to welcome foreigners. The concept of foreigners owning landed homes in Singapore is very
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Whopping 40% increase in July home sales!

The total number of units transacted in July was 1,954, a whopping increase of 40% from June’s home sales. Excluding Executive Condominiums (ECs), total home sales equalled 1,386, an increase of 17% from June’s 1,182. This hike in sales volume was led by two EC projects. Riverparc Residence at Punggol Drive sold 322 units at
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Upper Serangoon residential site attracts strong bids

The tender for a residential site at Upper Serangoon Road / Pheng Geck Avenue (Parcel A) was closed yesterday, after attracting a total of 15 bids. The top bid was submitted by Clerodendrum Land Pte Ltd at S$185.17 million, or S$6,106.52 psm of gross floor area (GFA). “The top bid of S$185.17 million or S$567
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Give a Hair of Hope

Many of us grew up experiencing countless ‘hair’ days. Good, bad or even stylish days. Some kids today yearn to keep their hair like you but they could not. Some did not even get to see the day when they could. Every year, the Children’s Cancer Foundation (CCF), a non-government supported entity, needs S$3.5m to
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COV is here to stay, says Khaw

                National Development Minister Khaw Boon Wan has clearly stated that he cannot abolish the cash premiums that HDB resale flat buyers must pay to sellers. His announcement came as a reply to comments posted on his Facebook page on National Day. He explained that the Cash-Over-Valuation (COV)
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Singapore’s economy ekes out 0.9% Q2 growth

              The Ministry of Trade and Industry has announced that Singapore’s economy expanded by 0.9 percent in Q2 from the previous year, to beat advance estimates. As part of his National Day message, Prime Minister Lee Hsien Loong revealed that growth in the first six months of the year
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S’poreans should save for rainy days: Khaw

              Global economic uncertainties have affected Singapore and Singaporeans need to “save for a rainy day”, said National Development Minister Khaw Boon Wan. Delivering his message yesterday on the sidelines of a national day observance ceremony in Sembawang, the minister called on Singaporeans to be more prudent and reminded
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