Prices still too high even with 50-year loan

By Romesh Navaratnarajah: The mortgage industry has been buzzing of late with the introduction of a 50-year home loan applicable for HDB flats and private homes. However, National Development Minister Khaw Boon Wan has slammed the idea and urged Singaporeans to be more prudent when taking out financing for home purchases given the tough economic
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Private home sales still going strong

By Romesh Navaratnarajah: The private residential market continued to see robust sales last week with V On Shenton (pictured) selling 50 units, bringing total sales to 140. Developed by United Industrial Corporation (UIC), the 54-storey tower was launched on 20 July with 190 out of its 510 units released. Apartments at the 99-year leasehold project
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What can you buy for less than S$1 million?

                        By Romesh Navaratnarajah: A number of private homes in Singapore are going for less than S$1 million, but their location and décor may not be on par with the pricier developments. However, these properties could end up being a good deal if they
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March another good month for private home sales

      By Romesh Navaratnarajah: New private home sales in Singapore hit a high of 3,032 units in March, just three percent short of the record 3,138 homes sold in the previous month. Excluding executive condos (ECs), the sales volume reached 2,393. Data released today by the Urban Redevelopment Authority (URA) also shows that
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Government revises DC rates

                    The Ministry of National Development (MND) has announced revisions on the development charges (DC) rates for the period covering 1 March to 31 August this year. Under the revisions, the DC rates for Group A (Commercial) was boosted by an average of six percent, with
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More housing choices for buyers

      Home buyers have been presented with a large number of new property launches in the first two months of the year, and many experts predict there will be plenty more to follow in the coming months. Around 2,199 residential units were launched last month, excluding executive condos (ECs), and experts believe the
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Private home sales rise by three times

January’s private home sales were undaunted by the gloomy economic outlook and recent cooling measures, recording 2,077 transactions for the month, a whopping three times higher than December’s 670 units. Excluding executive condominiums (ECs), this marks a 55 percent year-on-year rise to 1,872 units compared to 1,210 units in January 2011. Top-selling projects include Watertown
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Foreign buyers promised stamp duty ‘reimbursement’

Foreign property buyers in Singapore are being promised a ‘partial reimbursement’ of the additional buyer’s stamp duty (ABSD) which was introduced in early December 2011 in an attempt to curb overseas interest. Property developer Far East Organization is giving foreigners at its Watertown development (pictured) in Punggol a three percent ‘reimbursement’ upon contract signing and
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REDAS gives a dull note on property sentiment

January recorded plenty of new private home sales but an industry body has warned that market sentiment may be duller. Wong Heang Fine (pictured), President of the Real Estate Developers’ Association of Singapore (REDAS), said the strong number of private homes sold in January must be viewed in perspective, as they do not mean that
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Foreigners snap up fewer homes

Fewer non-PR foreigners picked up private homes in January, as opposed to December when it had spiked, according to preliminary figures. A DTZ Research caveat analysis revealed that foreign buyers’ share grew from 16 percent in November to 23 percent in December. However, January’s figures fell to merely three percent. The caveat pool for January
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