Property News – July 2022
31st July 2022
BRO projects hit by Covid-19 delay to be ready in 2-3 years …… full article here.
*Source from Sunday Times
Retail rents expected to rise, with suburban malls leading the way …… full article here.
*Source from Sunday Times
Managing rising mortgage rates – Home loan rates are rising, with three-year fixed rate packages offered by Singapore banks up by at least 1.6 percentage points from last year’s 1.15 per cent per annum. As interest rates are likely to continue on their upward march, what can existing home owners and aspiring home buyers do? …… full article here.
*Source from Sunday Times
30th July 2022
Singapore and New York lead global rent hikes in H1 …… full article here.
*Source from Business Times
Bullk purchase and enbloc transaction volume drops but expected to rise in the coming months …… full article here.
*Source from Zao Bao
29th July 2022
More enbloc coming! …… full article here.
*Source from Business Times
Rise in number of complaints against home renovation contractors. Most were for failure to complete projects on schedule and poor workmanship …… full article here.
*Source from Straits Times
Non-landed private residential home prices up due to demand from foreign buyers and HDB upgraders …… full article here.
*Source from Zao Bao
Elevated road projects to link two towns in west to KJE. Residents in Bukit Panjang and Tengha set to benefit when works are completed. Especially good news for new EC launch in Tengah which is coming soon in September 2022 …… full article here.
*Source from Straits Times
JCube set to make way for mixed-use residential development. Stiff competition from nearby malls and demand for housing a reason …… full article here.
*Source from Straits Times
28th July 2022
Dwindling supply of Singapore private homes has cause rent to increase in Singapore and worldwide market …… full article here.
*Source from Zao Bao
A unit at The Nassim tops Q2 resale gains, with seller reaping S$6m profit after 4 years …… full article here.
*Source from Business Times
Enbloc is back …… full article here.
*Source from Business Times
27th July 2022
Euro-Asia Apartments sold to KSH Holdings’ indirect subsidiary for S$222.18. This will boost the already dwindling supply …… full article here.
*Source from Business Times
Buying frenzy at AMO Residence ups the ante on whether more property cooling measures are needed. Potential buyers should be cognisant that home loans are getting more expensive and that potential deceleration in the economy may affect jobs …… full article here.
*Source from Business Times
Clarke Quay to undergo S$62m enhancement initiative. The heritage landmark has also been rebranded to CQ @ Clarke Quay …… full article here.
*Source from Business Times
Meyer Park up for collective sale at S$420m. More collective sale to boost supply …… full article here.
*Source from Straits Times
26th July 2022
GCB market may be hurt by higher taxes and weaker wealth creation. Growth in the ranks of the super-rich may slow if geographical tensions rise, globalisation retreat and redistribution policies are actively pursued …… full article here.
*Source from Business Times
Auction rebound in Q2 as interest rates surge …… full article here.
*Source from Business Times
Sceneca Residence, new mixed-development launch by MCC will be delayed due to no-sale licence. Developer will need to satisfy criteria set out before re-applying. MCC plans to re-submit application in Octobrer …… full article here.
*Source from Zao Bao
25th July 2022
AMO Residence sells over 98% of its 372 units on launch weekend. Market talk suggested that the average pricing for units transacted was roughly around the S$2,000 psf level …… full article here.
*Source from Business Times
S$2,000 average psf level will be new norm for new private homes …… full article here.
*Source from Zao Bao
24th July 2022
AMO Residence was almost fully sold during launch yesterday. They are left with only a few units …… full article here.
*Source from Zao Bao
23th July 2022
Property buyers are showing funds or pledging assets to obtain higher mortgage loan …… full article here.
*Source from Zao Bao
HDB resale prices climb 2.8% in Q2, transaction volumes fall. Rising prices attributed to BTO flat construction delays, pushing young families towards the HDB resale market …… full article here.
*Source from Business Times
Private home prices up 3.5% in Q2 as market rebounds, Gain comes on the back of new city-fringe launches, return of foreign buyers and firm demand …… full article here.
*Source from Business Times
22th July 2022
Non-landed luxury property deals spike in Q2 as borders reopen. Some 110 non-landed luxury properties change hands in the quarter with a total transaction value of almost S$900m …… full article here.
*Source from Business Times
21th July 2022
Singapore top destination in Southeast Asia for startup investment …… full article here.
*Source from Straits Times
Keppel Club site archaeology study to begin this year. It will be completed before the 48ha site is redeveloped for housing …… full article here.
*Source from Straits Times
The outlook for some of the region’s frothiest property markets, JLL says Australian prices wont crash; expect rising rates to affect China a little; Vietnam’s small supply to push up prices a bit and no big risks or bubbles in Singapore …… full article here.
*Source from Business Times
Singapore property players wary as economic outlook darkens. Rising inflation, interest rates flagged as top potential risk factors, which may impact market sentiment …… full article here.
*Source from Business Times
Property investment sales fall in Q2 but expected to end 2022 stronger …… full article here.
*Source from Business Times
Change in P1 vacancy has push up rental of property surround schools …… full article here.
*Source from Zao Bao
20th July 2022
Sceneca Residence condo launch delayed by no-sale licence …… full article here.
*Source from Straits Times
19th July 2022
Old 99-year leasehold condo prices rise despite decaying lease but growth rate slower compared to those in the CCR and RCR …… full article here.
*Source from Business Times
8 enblocs done in first half of 2022, 9 times more in comparison …… full article here.
*Source from Zao Bao
Chuan Park sold to Kingsford and MCC for S$890m. Amount is below reserve price but higher than expression of interest of S$860m last month …… full article here.
*Source from Straits Times
Singapore banks urged to aim for transition out of SOR by 31 March 2023 …… full article here.
*Source from Business Times
16th July 2022
Singapore new private home sales in June drop to lowest since May 2020 amid fewer launch. Despite the quiet month, analysts believe demand for new houses remains healthy and should increase in coming months as more new launches expected …… full article here.
*Source from Straits Times
Chuan Park sold for S$890m, lower than reserve price. Buyer is developer that “recently finished a huge residential project” …… full article here.
*Source from Business Times
15th July 2022
Singapore residential property rentals may stay high this year. Rental demand expected to hold firm with the continual inflow of foreigners and expatriates and positive economic climate …… full article here.
*Source from Business Times
Where HDB resale flats wont break the bank …… full article here.
*Source from Business Times
Singapore’s economy faces sharp slowdown in 2023, despite escaping recession so far …… full article here.
*Source from Business Times
Jury is out on whether MAS will tighten monetary policy again in October. Some economists believe it’s less likely following surprise move on Thursday to re-enter midpoint of Singdollar policy band …… full article here.
*Source from Business Times
CK Asset hunting for land in central region with gross floor area of at least 400,000 sq ft to build 300 – 400 units, JV collaboration in Singapore …… full article here.
*Source from Business Times
14th July 2022
A 5-rm attic HDB resale flat at Sky Terrace @ Dawson in Queenstown sold at S$1.418m …… full article here.
*Source from Zao Bao
Number of family offices in Singapore increased 70% end of last year as compared to the year before. Singapore is expected to have 2,800 ultra-rich immigrants …… full article here.
*Source from Zao Bao
Condo resale prices rise for 23rd straight month in June 2022; transaction volume slides 17.2% …… full article here.
*Source from Business Times
12th July 2022
Rising interest rates may not stop home prices from going up. A key factor driving capital allocation to homes here is the weakness in other investment instruments such as equities …… full article here.
*Source from Business Times
Property in Central Singapore and City Fringe price gap narrowed since year 2018 …… full article here.
*Source from Zao Bao
Inflation rising but Singapore economy not at risk of over-heating …… full article here.
*Source from Straits Times
11th July 2022
Mortgagee sales may not spike just yet, with robust Singapore rentals a cushion for rate shocks. Private condominium rentals have been marching upwards steadily for 17 straight months …… full article here.
*Source from Business Times
Rising interest rates and private home prices could push some out of market. As inflation continues to surge, the US Fed has announced significant interest rate hikes to bring prices down to a sustainable level …… full article here.
*Source from Business Times
Another big Fed rate hike likely but worst may be over for markets …… full article here.
*Source from Business Times
Sers no longer seens as sure-fire windfall after Ang Mo Kio saga …… full article here.
*Source from Straits Times
10th July 2022
Closure of Bedok Point a lesson for suburban mall. Good access, retailers that serve daily needs, such as a supermarket are key …… full article here.
*Source from Sunday Times
3 school campuses in Chai Chee to make way for public housing. Demolition under way; lease of the only school still operating there expires in December …… full article here.
*Source from Sunday Times
What do you do when home rates rise? The change in mortgage loan rates have been fast and furious, with many borrowers likely to dig deeper into their retirement kitty to meet repayments. Money tips to note when mortgage rates rise …… full article here.
*Source from Sunday Times
9th July 2022
Capital appreciation potential for private residential developments in Tanah Merah with the upcoming new launch – Sceneca Residence – right in front of Tanah Merah MRT station …… full article here.
*Source from Zao Bao
Rising rates hit property prices worldwide but Singapore market expected to be resilient. The suburb will see the biggest demand or price gain …… full article here.
*Source from Straits Times
8th July 2022
UOL to start previews for Ang Mo Kio prices at S$1,890psf. AMO Residence is the first major residential launch in Ang Mo Kio in 8 years …… full article here.
*Source from Business Times
HDB resale prices up for 24 months, 11.4% rise year-on-year in June …… full article here.
*Source from Business Times
Property mortgage rates increase is not expected to curb rise in property prices …… full article here.
*Source from Zao Bao
7th July 2022
Ho Bee-IOI’s Sentosa Cove project sells 50% of units put up for sale on launch day. 3-bedroom units were understand to be sold at a median price of S$4 million, while 4-bedders went for a median S$5.5 million …… full article here.
*Source from Business Times
Large GLS residential sites may help tame land prices, but also heighten risks for developers …… full article here.
*Source from Business Times
Wages increased over the last 10 years on par with rise in HDB prices …… full article here.
*Source from Zao Bao
Default in home loans repayment is less than 1% as of 1st quarter this year …… full article here.
*Source from Zao Bao
People’s Park Centre could spur Chinatown rejuvenation if sold. Mixed-use development is up for sale via public tender …… full article here.
*Source from Straits Times
6th July 2022
Five-room flat in Marine Parade sold for $1.01m. First million-dollar HDB resale deal in estate; unit has less than 52 years left on its lease …… full article here.
*Source from Straits Times
Big-ticket transaction – Property investment sales surge 89% to $20.2b in first half …… full article here.
*Source from Straits Times
Ultra-rich families – the faceless force in startup fund. Despite their low profile, wealthy families and individuals are becoming an important source of funds for VC firms and startups …… full article here.
*Source from Business Times
GuocoLand’s Midtown Modern introduces “Sky Bungalows” at S$15.5m to S$17m each …… full article here.
*Source from Business Times
Additional duties on property transfers into trusts not meant to be wealth taxes. They aim to plug stamp duty gaps are part of cooling measures …… full article here.
*Source from Straits Times
5th July 2022
Demand for larger-sized HDB BTO flats appears strong despite shrinking average household size. As BTO flats are subsidised, some buyers may opt to buy bigger units so that they can reap potentially larger absolute gains when they sell their units …… full article here.
*Source from Business Times
Recession, stagflation not expected for Singapore in 2023 …… full article here.
*Source from Business Times/Straits Times/Zao Bao
CPF member balances exceed half trillion mark in 2021 …… full article here.
*Source from Straits Times
No top-up needed for most AMK Sers residents who take up 50-year lease …… full article here.
*Source from Straits Times
4th July 2022
Owners of Sers flats in Ang Mo Kio to get 2 new rehousing options. They can opt for flats with shorter 50-year lease or take up a lease buyback scheme that is offered to those aged 65 and older …… full article here.
*Source from Business Times
Prices of new leasehold condos in suburbs set to rise; while condo rents in suburbs grew the most in Q1 …… full article here.
*Source from Straits Times
3rd July 2022
New rehousing options for owners of Sers flat. Some AMK Sers flat owners keen on new 50-year lease option. 50-year lease for bigger units, and lease buyback offered to avoid top-ups for replacement units. Residents welcome HDB move, say getting replacement unit on shorter lease is reasonable …… full article here.
*Source from Sunday Times
2nd July 2022
OCBC joins other local banks in raising rates for fixed-rate loans …… full article here.
*Source from Straits Times
HDB resale prices climb 2.6% in Q2. Growth comes at faster rate than the previous quarter but still under the 3% quarter-on-quarter growth booked in Q2 2021 …… full article here.
*Source from Business Times
Singapore Q2 private home prices up 3.2% on 6% jump in city-fringe condos. Property consultants expect the private home price index to stay in positive territory for the rest of the year …… full article here.
*Source from Business Times
1st July 2022
Government puts out largest industrial land supply for sale in 2 yrs. The seven parcels – four on confirmed list and and three on reserve list – could generate around 1.35m sq ft of potential gross floor area for H2 2022 …… full article here.
*Source from Business Times/Zao Bao
Singapore home loan rates hit 3.08% with UOB’s move. It adjusts its fixed rate packages including 3-year plan; no change to floating rate plan …… full article here.
*Source from Straits Times
