Property News – February 2022
28th February
Two of five BTO projects affected by Greatearth liquidation completed. 782 owners of Senja units have started to get their keys; 3 other delayed projects on track …… full article here.
*Source from Straits Times
25th February 2022
Pine Grove plot could net bids of up to S$1,300 psf ppr. Pine Grove (Parcel A) is expected to atrract developers who are eager to shore up their land inventory. In addition, future homes on the site should appeal to many home buyers given its location …… full article here.
*Source from Business Times
24th February 2022
Strong demand for Kallang/Whampoa prime flats. All units oversubscribed in second BTO projects under the prime location model …… full article here.
*Source from Straits Times
Property tax hike not meant as cooling measure. The newly announced increase in property tax based on annual value of the property should be taken in the spirit of a wealth tax and not as a cooling measure for the market …… full article here.
*Source from Straits Times
19th February 2022
Higher personal income tax for top earners; no net wealth tax for now. Higher income earners also face multiple whammy of tax hikes on property, luxury cars …… full article here.
*Source from Business Times
Property tax rates for homes to rise from 2023. Analysts say increase appears manageable and unlikely to dampen demand …… full article here.
*Source from Business Times
Basic Retirement Sum to be raised as living standards rise. But no need for members to top up CPF if unable to set aside BRS. A planned second increase in CPF contributionn rates for senior workers will go ahead in 2023. Employers will receive an offset for this next step of the increase in 2023 …… full article here.
*Source from Business Times
GST up from 7% to 9% in 2 stages in 2023 and 2024. $6 billion Assurance Package to cushion impact of hike will get $640 million boost …… full article here.
*Source from Business Times
18th February 2022
Strong demand likely for new PLH flats in Kallang/Whampoa. Kallang PLH launch surprises with lower median pricing than nearby BTO flats …… full article here.
*Source from Business Times/Straits Times
2,440 BTO flats in Redhill and Tiong Bahru set to be launched in May …… full article here.
*Source from Straits Times
Singapore posed for further recovery in 2022 amid external headwinds and inflation …… full article here.
*Source from Business Times
Singapore maintains 3-5% growth forecast for this year as Covid-19 curbs ease. Outlook for various sectors uneven, but manufacturing in particular set to stay strong …… full article here.
*Source from Straits Times
17th February 2022
Singapore condo, HDB rents continue rise in January 2022, while volumes saw some recovery. Cooling measures implemented in December 2021 has led to more HDB upgraders selling their flats and renting before buying a new home to avoid paying additional buyer’s stamp duty (ABSD) …… full article here.
*Source from Business Times
16th February 2022
Resale condo prices rise for 18th straight month, but January figures show volumes down 23.8% after cooling measures, with pre-holiday lull …… full article here.
*Source from Business Times
New private home sales up 3.5% in January amid resilience, fewer launches during the month. Developers in Singapore sold 673 new private homes in January, inching upwards from 650 in December, when new cooling measures kicked in …… full article here.
*Source from Business Times
15th February 2022
Do rising rents make Singapore home ripe for investment? If and when rising property prices are causing rental yields to shrink, investors will simple change tack to focus on capital gains instead of rental income; some will even sell their financial investments to buy property in such a scenario …… full article here.
*Source from Business Times
11th February 2022
HDB resale prices climb for 19th straight month in January 2022 on the back of broad-based growth across all flat types as well as mature and non-mature estates …… full article here.
*Source from Business Times
New private home sales hold steady in January in spite of cooling measures introduced last year …… full article here.
*Source from Business Times
Singapore commerical real estate investment volume bounces back in 2021. Singapore investors spent a record amount outside their home market in 2021 …… full article here.
*Source from Business Times
10th February 2022
More collective sales launch. Shophouses along Kreta Ayer, Vicenta Lodge in Kembangan, freehold strata retail in Bukit Timah and Orchard Towers …… full article here.
*Source from Business Times
Buying property after cooling measures: FOMO or wait and see? …… full article here.
*Source from Business Times
Developers worry cooling measures will curb ability to do new projects, as the construction sector continues to grapple with manpower shortages, rising material costs and cash flow issues caused by the Covid-19 pandemic …… full article here.
*Source from Straits Times
7th February 2022
Hkeng Leong bags Gilstead Road site. This site is zoned for residential use with 1.4 plot ratio which can be redeveloped int a condo project with up to 56 units …… full article here.
*Source from Business Times
4th February 2022
Public views on rejuvenating heartland shops wanted. Online poll seeks ideas on breathing new life into these shops while preserving their heritage and cultural value …… full article here.
*Source from Straits Times
3rd February 2022
Surge in retail property units going under the hammer in 2021 as the retail sector was hit by recurring Covid-19 restrictions …… full article here.
*Source from Straits Times
