November witnessed a significant rebound in Singapore’s private home sales, driven by the successful launches of suburban condominiums – J’den in Jurong East, Hillock Green in Lentor Central, and the luxury prime district project Watten House. The surge in sales, up 286% from October to a four-month high of 784 units, was attributed to pent-up […]
The US Federal Reserve opted to keep interest rates steady and indicated a shift in its monetary policy, signaling the end of the historic tightening implemented over the past two years. The decision was accompanied by new economic projections, highlighting the expectation of lower borrowing costs in 2024. Key Points: The Federal Reserve’s decision and […]
As the deadline approaches for mortgages tied to the Singapore Interbank Offered Rate (Sibor), it’s reported that although around 30,000 borrowers switched between January and October, approximately 57,000 still hold onto their Sibor-based loans. The Association of Banks in Singapore (ABS) notes that Sibor is set to be discontinued by the end of 2024, with […]
The Ministry of Finance (MOF) and Inland Revenue Authority of Singapore (Iras) have announced a one-off property tax rebate for owner-occupied homes in response to the anticipated increase in property taxes. The rebate, ranging from 100 percent for small public flats to 15 percent for private properties, aims to mitigate the impact of higher property […]
The public tender for the conserved Bukit Timah Fire Station (BTFS) at 260 Upper Bukit Timah Road, conducted by the Singapore Land Authority (SLA), closed on Oct 18 with nine bids. The highest bid came from local construction company Huationg Global, which submitted $98,000 a month or $1.176 million in annual rent. The second-highest bid […]
The tenders for three state-owned plots closed on Tuesday, with fewer developers submitting bids due to higher interest rates and increased economic and geopolitical uncertainties. Nevertheless, two private housing sites, specifically Lorong 1 Toa Payoh and Pine Grove Parcel B, received top bids that exceeded market expectations. The Lorong 1 Toa Payoh and Pine Grove […]
Bukit Timah Market and Food Centre is scheduled for demolition in 2024 to pave the way for an integrated development. In response to CNA’s inquiries, a spokesperson for the People’s Association (PA) confirmed that the estimated timeline for stallholders to transition from the current food centre to the interim hawker centre and market is set […]
In a recent development, a joint venture led by Sim Lian Group successfully acquired an executive condominium (EC) site in Tampines for a total of S$543.28 million. The winning bid amounted to S$721 per square foot per plot ratio (psf ppr), marking a 2.5% increase over the previous record set at S$703 psf ppr for […]
The Urban Redevelopment Authority (URA) has unveiled several proposals for its upcoming 2025 Draft Masterplan, which will guide Singapore’s land use and development plans for the next 10 to 15 years. Among the key proposals are: Centralized Housing: Plans include the development of a diverse mix of public and private housing in more central locations, […]
In the fourth quarter of 2023, more than 10 private residential projects are poised to launch, offering over 3,500 housing units. Despite a decrease in homebuyer interest and persistent high financing and land costs due to cooling measures in the real estate market, industry analysts anticipate that prices will remain stable. Among these launches, five […]
