Overwhelming demand in the housing market has exceeded supply in recent years, and as a result, prices have surged faster than peoples’ incomes. Tharman Shanmugaratnam (pictured), Singapore’s Deputy Prime Minister, commented that “we’re not in a very happy part of the cycle,” according to a Straits Times report. Mr Tharman was responding
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After suffering the impact of the additional buyer’s stamp duty (ABSD) introduced in early December, the mass-market segment is beginning to recover with prices for completed private apartments in the Non-Central Region climbing one percent in January. This was revealed by the latest flash estimates of the National University of Singapore
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The additional buyers’ stamp duty (ABSD) measure imposed by the government in early December to cool housing prices may hold back potential buyers for the next few months, said Liew Mun Leong, Chief Executive and President of CapitaLand. “Developers are more skeptical — they are not launching so many projects. But the statistics show that
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Private home prices and rents across all sectors continued to rise in 2011, albeit at a slower pace than in 2010, amid hefty cooling measures such as the seller’s stamp duty and reduction in loan-to-value (LTV) limit. The take-up for the year is projected to be similar to 2010. The average resale price of suburban
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The additional buyer’s stamp duty could become a permanent fixture in the residential property market even after prices cool, according to Bank of America Merrill Lynch. Chua Hak Bin, an economist at the bank, said cooling measures implemented in 1996 to differentiate between local and foreign buyers were eventually repealed but this new measure is
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Singapore’s property sector may soon face difficult times, as Standard Chartered Bank’s latest report has stated a bearish outlook for the market. According to the bank’s analysts, prices and rents of residential properties in Singapore will drop by 30 percent over the next three years. This will be quite
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Design, Build and Sell Scheme (DBSS) flats are now being sold at prices comparable to those of Executive Condominiums (ECs), attributed to the strong interest DBSS units have been getting. The demand is also boosted by the flats’ proximity to mature estates and MRT stations. Property firm Dennis Wee Realty noted that the overall median
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Mr Lim Wee Kiak, Member of Parliament for Nee Soon, has told the parliament that prices of HDB flats have risen, and urged the HDB to go “back to basics”. He wants the government to ensure that home ownership is the HDB’s top priority and offered his own suggestions as well. Mr Lim proposed stopping
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The Singapore government should be able to “stabilise” the local housing market within the next four years, said Prime Minister Lee Hsien Loong, in a speech to mark the completion of a S$48.3 million upgrading effort in a housing project in Ang Mo Kio. In his speech, PM Lee said that since some of the
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Landed home prices in Singapore grew at a faster pace than those of non-landed homes in the third quarter of this year, according to DTZ Research. Average resale prices of leasehold landed homes in non-prime districts grew 3.8 percent quarter-on-quarter in Q3, while average resale prices of freehold landed homes in the prime districts of
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