Property News – May 2022
31st May 2022
Private resale home prices rose 1.2% in April. …… full article here.
*Source from Zao Bao
Sultan Plaza makes second bid to sell enbloc for S$360m. Market sentiment boosted by Mega sales of Golden Mile and Tanglin Shopping Centre …… full article here.
*Source from Straits Times
30th May 2022
HDB considering open-plan flats to give home buyers flexibility. Such flats would allow them to configure various spaces for their need …… full article here.
*Source from Straits Times
Woman who lost flat to fire learns importance of home insurance …… full article here.
*Source from Straits Times
28th May 2022
2,500 prime BTO flats launched; 3 and 4-room units priced at S$369,000 to S$737,000 …… full article here.
*Source from Straits Times/Business Times
As at 27 May 2022, HDB has launched 4 PLH BTO projects with a total of 1,023 3-room flats and 3,067 4-room flats. How might more PLH flats affect the HDB market? …… full article here.
*Source from Zao Bao
CPF interest rates unchanged for 3rd quarter …… full article here.
*Source from Business Times
27th May 2022
9 Marsling HDB blocks to make way for Woodlands Checkpoint expansion. Affected residents can opt to make 2km move. Replacement flats in Woodlands Street 13 are a 10-minute walk from Marsling MRT Station …… full article here.
*Source from Straits Times/Business Times
Foreign buyers returning to Singapore private home market. Luxury private homes in good location are popular among foreign buyers …… full article here.
*Source from Zao Bao
Wing Tai bags Lakeside Apartments for S$273.9 million, 14% above reserve price, due to its attractive location and proximity to Jurong Lake District. Wing Tai’s executive director expressed confidence that demand for the new project will be strong …… full article here.
*Source from Business Times
26th May 2022
5 BTO projects to be launched tomorrow, 2 under PLH model …… full article here.
*Source from Straits Times
Fewer BTO projects delayed 6 months or more this year …… full article here.
*Source from Straits Times
Property tax hikes won’t depress new launch prices, may hurt luxe home demand. Survey finds that some developers may try to buy more land in suburbs, lower price expectations for land bids …… full article here.
*Source from Business Times
More Singapore developers looking to hike condo launch prices. About 71% developers expect unit prices of new launches in the next 6 months to be moderately or substantially higher …… full article here.
*Source from Business Times
Positive outlook forecast for singapore property market in the next six months …… full article here.
*Source from Zao Bao
24th May 2022
HDB launching some 4,500 BTO flats including 2 PLH projects in May. The 2 PLH are in mature estates of Bukit Merah and Queenstown …… full article here.
*Source from Business Times
Rich families raing to park wealth in Singapore under enhanced investment scheme. Clients hail mainly from North and South Asia, followed by South-east Asian countries like Indonesia and Malaysia …… full article here.
*Source from Business Times
Suburban condos can continue to outperform prime ones. In terms of connectivity, the suburbs are big winners from the expansion of the MRT network; regulations may be more supportive of homes in OCR than CCR …… full article here.
*Source from Business Times
It is becoming a norm for suburban (OCR) new homes to cross S$2,000 psf, unless cost of raw material for construction …… full article here.
*Source from Zao Bao
23rd May 2022
HDB compensates BTO flat buyers for delay. Sengkang project misses legal completion date, will be completed 4-6 months after that …… full article here.
*Source from Straits Times
Bukit Sembawang’s Liv @ MB sells over 75% on launch weekend. Over 90% of buyers were Singaporean residing in the immediate neighbourhood …… full article here.
*Source from Business Times
China’s new rich drawn to Singapore. Recent tightening of tax perk criteria for family offices has also made the Republic more attractive for HNWI’s seeking diversification, exclusivity …… full article here.
*Source from Business Times
20th May 2022
5rm Henderson Road flat goes for S$1.4m in priciest HDB deals to date1216 sqft unit on 41st floor of 48-storey block is only 3 years old …… full article here.
*Source from Straits Times
Highly leveraged homeowners may face double whammy from inflation, housing supply. Current robust rental market for private homes will soon be tested as more units are slated for completion …… full article here.
*Source from Business Times
120 HDB fats sold for at least S$1m so far this year …… full article here.
*Source from Business Times
Malaysia exploring ‘new ideas’ for terminated high-speed rail project with Singapore …… full article here.
*Source from Business Times
19th May 2022
Kesington Park condominium in Serangoon offered for enbloc sale by public tender …… full article here.
*Source from Business Times
18th May 2022
More luxury homes sold and more foreign buyers despite property curbs. Sales indicate investors still view properties in Singapore favourably …… full article here.
*Source from Business Times
Singapore new private home sales flat in April, likely to climb in coming months …… full article here.
*Source from Straits Times
3 Lentor land parcels up for sale under GLS. They could draw bids in S$1,000 – S$1,100 psf ppr range; 2 parcels can yield about 735 housing units; the third can yield about 530 units …… full article here.
*Source from Straits Times
17th May 2022
Property stamp duty collection leaps to $6.8b; corporate, personal tax payments above pre-Covid level …… full article here.
*Source from Business Times
More funds for private market as family offices expand here. New assets from global investors and family offices grow 40% from 2019 to 2021 …… full article here.
*Source from Straits Times
Possible archaeological study for Keppel Cub site may precede redevelopment. Archaeologist and heritage enthusiasts had flagged the site’s historical value after HDB announced last month that 6,000 public housing flats will be built there. There may be artefacts from the World War II in the ground …… full article here.
*Source from Straits Times
16th May 2022
Finding ways to cope with rising home mortgage payments. Some households are relooking their home loan packages, while others are using more CPF money …… full article here.
*Source from Straits Times
Firms more optimistic about prospects in Singapore than overseas for the next 6 months …… full article here.
*Source from Business Times
15th May 2022
High cost of hurrying. Rush to deliver projects, inadequate control measures cited as to why safety standards fall …… full article here.
*Source from Sunday Times
14th May 2022
Surge in industrial property supply could slow price and rental growth. Business parks rents remained flat quarter on quarter in Q1, and fell 0.5% compared to the same period last year …… full article here.
*Source from Business Times
Freehold Baywind Residences to launch with prices starting under S$2m …… full article here.
*Source from Business Times
Lee Ka-shing’s family office joins Singapore expansion wave …… full article here.
*Source from Business Times
12th May 2022
Foreign buyers return to property market in April, after Q1 pullback. As quarantine-free travel returns, private home purchases by foreign buyers are expected to gradually gain momentum, although analysts also flagged headwinds such as economic uncertainties and currency fluctuations as factors to watch …… full article here.
*Source from Business Times
Condo, HDB rents hit new peaks in April. Reopening likely to keep market tight. Rents up 15.1% compared to April 2021 …… full article here.
*Source from Business Times
Thomson View set for enbloc relaunch at S$950m guide price. Launch in 2021 at same price was unsuccessful amid market cooling measures announced in December …… full article here.
*Source from Business Times
11th May 2022
Condo resale prices rise for 21 straight months, up 0.7% in April. On a year-on-year basis, prices rose 9%, with all regions experiencing price increases …… full article here.
*Source from Business Times
HDB is monitoring delay of BTO flats which is estimated to delay between six months to a year. This is due to shortage of building materials resulted from Ukraine and Russian war …… full article here.
*Source from Zao Bao
Proposal to have HDB maintain housing estates to manage rising costs. Move aimed at addressing challenges faced by town councils in providing such services …… full article here.
*Source from Straits Times
10th May 2022
ABSD of 35% of purchase price for property transfers into living trust to level the playing field. This is with effect from 9th May 2022. Be very careful when using a trust to buy a home for a minor though ABSD refund is possible through application with condition …… full article here.
*Source from Business Times
Transfer of stakes may involve up to 44% additional duties …… full article here.
*Source from Straits Times
Singapore new home prices expected to grow 3% in 2022 …… full article here.
*Source from Zao Bao
9th May 2022
Piccadilly Grand sells 77% of units at average S$2,150 psf on launch weekend …… full article here.
*Source from Business Times
Singapore slaps 35% ABSD on housing transfers into living trust. Under current regulations, ABSD may or may not be payable upon such a transfer, depending on the profile of the beneficial owner of the residential property transferred into the trust …… full article here.
*Source from Business Times
How well do Singapore homes really hedge against inflation? They appear to hedge well during high inflation and over long term but caveat is property prices are cyclical …… full article here.
*Source from Business Times
7th May 2022
Golden Mile Complex sold to Far East, Perennial, Sino Land for S$700m. The collective sale came after 2 en bloc tendr, both at reserve price of S$800m …… full article here.
*Source from Business Times
Bukit Sembawang starts previews for Liv @ MB; unit priced from S$1.08m to S$3.63m. Prices range from S$2,190 psf for 1-bedroom units; deluxe 4-bedroom unit starts from S%2,177 psf …… full article here.
*Source from Business Times
Quality checks of private home construction projects enhanced. Check such as water ponding in common areas, sudden shattering of glass and leakage from swimming pools will soon be included to Construction Quality Assessment System in assessments of private residential construction projects …… full article here.
*Source from Straits Times
Some banks’ fixed-rate home loans now more expensive. They act in anticipation of further US rate hikes; Sora-pegged loans relatively cheaper …… full article here.
*Source from Straits Times
6th May 2022
HDB resale prices continue upward trend in April 2022 as sales volume flatten. Gains were seen across all flat types and locations; overall prises rosse 1.1%in April month on month and 11.9% on the year …… full article here.
*Source from Business Times
Singapore ‘unlikely’ to have recession after Fed hike but near-term risk remain. Interest rates in Singapore should likely rise in tandem but to a smaller extent as MAS has already tightened monetary policy over the last six months …… full article here.
*Source from Business Times
5th May 2022
Singapore landed homes see fastest price appreciation in a decade in 2021. Prices of landed housing from 2018 to 2021 also grow faster than prices of non-landed properties such as condo units …… full article here.
*Source from Business Times
4th May 2022
Rich families racing to park wealth in Singapore under enhanced investment scheme. Clients hail mainly from North and South Asia, followed by South-east Asian countries like Indonesia and Malaysia …… full article here.
*Source from Business Times
Property mortgagee sale increase in first quarter 2022, since government stopped the support for property loan repayment reduction and extension …… full article here.
*Source from Zao Bao
Home prices, rental rates likely to keep rising amid construction cost pressures. Manpower woes persist despite reopening of borders, forcing firms to find ways to cope …… full article here.
*Source from Straits Times
Rising property prices, GST hike top concerns of young investors. 79% of all survey participants plan to raise their investments amid uncertain economic outlook …… full article here.
*Source from Straits Times
3rd May 2022
Private new homes prices been going up due to dwindling supply and increase in land cost. This has thus increase the gap of housing and household income …… full article here.
*Source from Zao Bao
2nd May 2022
Many who secured Rochor BTO flats say they intend to keep living there. 19 out of 20 buyers at first prime location project have no plans to sell, but some don’t rule out the possibility …… full article here.
*Source from Sunday Times
Some Malaysians not renewing room leases here as land border reopens. After the land border between Singapore and Malaysia reopened, some Malaysians renting rooms gere are choosing not to renew their leases …… full article here.
*Source from Sunday Times
1st May 2022
Prices of popular condos creep up in the suburbs. Hike fuelled by housing supply shortages, low interest rates and demand from HDB upgraders …… full article here.
*Source from Business Times