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Property News

Property News – March 2021

28th March 2021

Where HDB upgraders are moving to? Nearly 70,000 HDB flat owners bought private properties in the last 10 years …… full article here.

*Source from Business Times

Interesting article above on HDB upgraders and their choices of private residential properties. More younger couples are upgrading from the MOP HDB flats to EC and Condos. HDB residents are looking into lifestyle living.

Buying properties in the virtual world …… full article here.

*Source from Business Times

This is what many are talking about lately – purchasing virtual properties. This article is about purchasing of virtual lands. How do you feel about this?

27th March 2021

Some write-ups on the transformation of HDB flats in the 1960s to current 2020s. Now HDB is placing the holistic well-being of its residents at the centre of it planning efforts. We will have more nature-based urban areas in HDB estates to create a sense of wellness for residents, technology-enabled homes for a sustainable living. You can read more on The Straits Times 27th March 2021.

Room for growth in private home sales if foreign buyers return. Developers sold 23,000 units in 2012-2014 but just under 10,000 in each of past 2 years …… full article here.

*Source from Straits Times

This article came out in The Straits Times on 26th March. Today, 27th March, is the 1st day of preview for Irwell Hill Residences. We see an overwhelming response. Appointment slots are fully taken for the day. As the news article stated, “room for growth…”, many of us are expecting the property market to growth further when borders are opened and foreigners coming back to our property market. As seen in one of yesterday’s article in Business Times, a foreigner buyer buying up all 20 units in a luxurious development, the confidence of foreigners in Singapore’s property market at this time. Does this buyer foresee a jump in the price when the borders are fully opened? Something to ponder.

26th March 2021

All 20 units of luxury development sold to one buyer. Eden freehold apartment project of 20 four-bedroom units goes for S$293 million or S$4,827 per square foot …… full article here.

*Source from Business Times

This shows foreign buyer’s confidence in Singapore’s property market. This scarcity of freehold lands and developments in Singapore will continue to see an increase in demand for them, which could in turn, further widen the price gap between freehold properties and leasehold properties.

Are buyers overpaying for freehold properties? Freehold property here were sold 10.4% higher on average than comparable leasehold properties, yet model ratio implies a premium of just 4% …… full article here.

*Source from Business Times

As everyone know, we are seeing very few freehold new launches in the market.

25th March 2021

Easing of WFH rules leaves CBD retailers hopeful, but uncertain. Some are wondering if pandemic has permanently changed working behaviours; F&B revenues still remain badly hit …… full article here.

*Source from Business Times

Private home rental is expected to stablise while rent is expected to up by 2% …… full article here.

*Source from Zao Bao

22nd March 2021

Midtown Modern sells 90% of 1- and 2-bedder units at weekend launch. Around 340 units, or 61 per cent, of GuocoLand’s 558-unit condo in Bugis sold …… full article here.

*Source from Business Times

19th March 2021

Private home prices continue to grow. Many private home owners cash out on their property to downgrade to HDB resale flat …… full article here.

*Source from Zao Bao

18th March 2021

Singapore is 8th best country to relocate for work. It enters global study’s top 10 list for first time as Covid-19 measures become a priority …… full article here.

*Source from Straits Times

Singapore’s competitiveness, our robust international trade and investment, digital infrastructure, etc, and not forgetting our good containment of coronavirus cases have given confidence to many, thus we are not rank within top 10 for best country to relocate for work. When borders reopen, we should see more movements in our property market.

17th March 2021

Sales of distressed homes take off as demand and prices converge. Potential buyers make rounds at property auctions for bargains, but auctioneers say fire sales not typical …… full article here.

*Source from Business Times

Another mode of sale taking off.

14th March 2021

En bloc fever making cautious comeback in Singapore. But cooling measures, uncertain economy and talks of new curbs make developers wary …… full article here.

*Source from Business Times

Some insight on En bloc making a comeback. Enjoy your Sunday!

13th March 2021

Property agents, buyers charged with intent to evade higher stamp duties …… full article here.

*Source from Straits Times

Some buyers may get suggestions to take advantage of some loop holes in the policies or play around with dates, as in the case above, do consider consequences. Whenever there are changes in policies due to movements in the property market, government will monitor situation closely. Next in lime light will be cases on kick-back.

12th March 2021

Condo, HDB rents rise again in Feb on lower volumes …… full article here.

*Source from Straits Times

11th March 2021

Condo resale prices in Singapore rise for seventh straight month. Year-on-year, prices in CCR, RCR and OCR rose 2.7 per cent, 2.6 per cent and 5.8 per cent respectively …… full article here.

*Source from Business Times

More news on rising resale condo prices caused by rise in prices of new launches, due to rising land cost, low interest rates environment, etc. Should buyer sitting on the fence enter the market now or wait? Contact us to find out more.

There are more write up on Property Prices, monetary easing, and the economy on Business Times. How rising property prices will bring about risk of cooling measures to be imposed.

6th March 2021

En bloc deals picking up: Surrey Point sold for S$47.8m; Mt Emily Road site fetches S$18m. Risk-shy developers prefer smaller residential sites yielding 100 to 200 private homes …… full article here.

*Source from Business Times

En bloc deals coming back! Last en bloc fever seen in 2017. Expect property prices to go up! Should you enter the market now? Contact us to find out!