Property News – June 2022
30th June 2022
Singapore CBD Grade A office rents may cross pre-pandemic peak by Q3 …… full article here.
*Source from Business Times
DBS raises 2-year fixed home loan rates to 2.75% per annum. Move comes after both UOB and OCBC raised their rates and places it highest among the three local banks …… full article here.
*Source from Business Times
Increased in primary 1 vacancy has boosted property prices of homes near popular primary schools in Singapore, causing price trend to continue its upward trend …… full article here.
*Source from Zao Bao
29th June 2022
Bukit Batok EC site launched for tender, market watchers forsee keen developer interest. The latest site launched marks the third site for EC development within the span of the year …… full article here.
*Source from Business Times
Two major private home launches slated for July. Cape Royal will be one of the two sizeable 99-year leasehold developments slated to come to market next month, the second being AMO Residences at Ang Mo Kio Avenue 1 …… full article here.
*Source from Business Times
27th June 2022
First timers have good chance to book BTO flat because 40% of applicants invited to do so decline the offer …… full article here.
*Source from Business Times
Marsiling residents affect by SERS need not top up for replacement flat as the compensation can fully cover cost of replacement flat …… full article here.
*Source from Zao Bao
26th June 2022
Singapore private home sales volume rebound in May 2022 …… full article here.
*Source from Zao Bao
25th June 2022
Singapore banks raise interest rates on loans for HDB flats. HDB loans more attractive as bank rates rise. Move follows Fed rate hike, with some packages higher than HDB’s offering. Banks have been increasing their housing loan rates since the recent Fed rate hike …… full article here.
*Source from Straits Times
Singapore property prices expected to maintain upward trend this year. …… full article here.
*Source from Zao Bao
20th June 2022
Wealthy Chinese setting up family offices in Singapore see it as springboard to Asean …… full article here.
*Source from Business Times
18th June 2022
Change in minimum occupation period criteria for Sers replacement flats. Move ensures consistency of treatment for all Sers flat owners, regardless of units they buy …… full article here.
*Source from Business Times/Zao Bao
16th June 2022
Some sers flat owners in AMK upset by top-up for new units. HDB looking at feedback from affected residents, exploring options to assist them …… full article here.
*Source from Straits Times
Condo, HDB rent continue surge in May but volumes down year on year …… full article here.
*Source from Business Times/Zao Bao
Singapore new private home sales more than double in May. Amid major launches, developers in Singapore sell 1,356 new homes last month, up from up April’s 660 units …… full article here.
*Source from Business Times/Zao Bao
15th June 2022
Singapore climbs back to 3rd place from 5th in global competitiveness ranking …… full article here.
*Source from Business Times
Condo resale prices grow 0.3% in May, up for 22nd straight month though grow rate slower compared to previous months, while volume up by 1.6%. New norm for new homes prices to go beyond S$2,000 psf …… full article here.
*Source from Business Times/Zao Bao
14th June 2022
Real estate may not hedge effectively against inflation. There can be resistance to home prices falling as the cost of building home rises …… full article here.
*Source from Business Times
Elizabeth Towers on Orchard Road relaunched for collective sale at S$630m …… full article here.
*Source from Business Times
Entire floor at Suntec City Tower 2 sold. The transaction marks the highest psf price ever achieved for an entire floor in Suntec City Tower 2, and the largest transaction by quantum price in 2022 so far. It is sold to a Singaproe Permanent Resident of Chinese descent …… full article here.
*Source from Business Times
Carousell warns of scams involving fake rental listings …… full article here.
*Source from Straits Times
11th June 2022
Indonesian family in exclusive due diligence to buy 22 units at Draycott Eight. Price being negotiated said to be nearly S$168 million or close to S$2,570 per square foot on a total strata area of 65,401 sqft …… full article here.
*Source from Business Times
Interest from Greater China in family offices here still high …… full article here.
*Source from Straits Times
10th June 2022
Higher BTO supply leaches demand for HDB resale flats in May. Flat resale volume drops 5.1% to 2,156 transactions in May, after gaining grounds in the months before …… full article here.
*Source from Business Times
Family offices unfazed by tougher criteria for tax break. However, they face staffing challenges amid massive growth of such offices, and longer wait times for approvals …… full article here.
*Source from Business Times
Woodlands and Pasir Ris flat cross S$1m for the first time …… full article here.
*Source from Zao Bao
HDB resale prices up again, fewer units sold. Prices up for 23rd month …… full article here.
*Source from Straits Times
9th June 2022
Public housing in Marina South precinct likely as government push for greater inclusivity by adding HDB flats to private estates …… full article here.
*Source from Straits Times
8th June 2022
More articles on H2 government land sales …… full article here.
*Source from Business Times/Zao Bao
Increase in housing supply will see minimal effect on property price in the short term. Look out for new price trend setting new benchmark for property …… full article here.
*Source from Business Times/Straits Times
7th June 2022
Flexible layouts for HDB BTO flats in future to cater to family nucleus and lifestyle changes …… full article here.
*Source from Straits Times
Mix of public and private housing in Upper Changi station, Bayshore area. Plans for more towns, estates with public and private homes. And future long island could have reservoir and be developed for housing …… full article here.
*Source from Business Times/Straits Times
Redevelopment plans for Paya Lebar Air Base met with enthusiasm. The planning restrictions for older properties in the area could be lifted, freeing more sites for redevelopment. Many older buildings that have not been optimised in the land use density could be redeveloped through the enbloc process …… full article here.
*Source from Business Times
H2 government land sales programme to have more private housing supply, first sale site in Marina South …… full article here.
*Source from Business Times
3rd June 2022
Queenstown, Bukit Merah BTO projects see lower demand. Most 1st time applicants likely to get queue number for these prime location flats …… full article here.
*Source from Straits Times
Another 2 GLS sites tendered – Dunman and Pine Grove Parcel A. Contrasting response in bids for both sites, just 2 bids for Dunman and 5 bids for Pine Grove. Developers show caution for big sites at URA tender. Geopolitical uncertainties, rising interest rates weigh on sentiment …… full article here.
*Source from Business Times/Straits Times
Chinese national buys 20 units at Canninghill Piers for S$85m. Buyer said to be considering 10 more units; total transaction expected to contribute about S$30m in stamp duty …… full article here.
*Source from Business Times
2nd June 2022
More developments attempting enbloc …… full article here.
*Source from Business Times
1st June 2022
Prices of mass market property launches could hit record high as developers face cost constraints. Land, construction and materials costs have risen while the number of unsold units have dwindled …… full article here.
*Source from Business Times