Singapore property

08/07/2021

An insightful article by Todayonline. (7 July 2021)

Mr Ravi Menon, Managing Director of the Monetary Authority of Singapore, shared that market processes are allocating an increasing share of national income to income from property and other financial assets and a reducing share to income from work.

Read more at

SINGAPORE — A key driver in worsening wealth inequality in many parts of the world is the rising price of property and it is a worrying trend, the head of Singapore’s central bank said.

06/06/2019

Buyers, you've plenty to choose from. Choose wisely, and take your time.

Reference:

In tiny Singapore, where you can drive the length of the island in under two hours, there are 24,000 vacant apartments.

06/06/2019

Unsold units (approximate) for now:
* 39,000 from GLS and collective sale sites with planning approval
* 5,000 from sites pending planning approval

And, there are about 24,000 existing private housing units that remain vacant.

The 5 confirmed list sites are private residential sites (including one executive condominium site with 480 units) that can yield total of about 1,715 private residential units.

In total, the 5 confirmed and 8 reserve list sites can yield about 6,430 private homes, 92,000sqm gross floor area (GFA) of commercial space and 1,100 hotel rooms, according to the Ministry of National Development (MND).

Reference:

This is due to a drop in demand and a large supply of private homes, said MND.. Read more at straitstimes.com.

28/02/2019

When numbers are not true reflection of the property market.

05/12/2017

'Under the Planning Act, it is illegal for owners of private residences to rent, sublet or share their homes with others for under six months. Following a 2015 public consultation by the URA, the bar was lowered to under three months for private homes from June 2017. For HDB flats, the minimum stay is still six months.'

SINGAPORE - Two men were charged on Tuesday (Dec 5) with providing unauthorised short-term stays to tenants.. Read more at straitstimes.com.

20/06/2017

SLA will take over the land occupied by 191 private terrace houses at Lorong 3 Geylang when its current lease expires on 31 Dec 2020.

Every owner of the affected 191 terrace houses will be assigned a SLA officer, who will guide them through the lease expiry process.

17/04/2017

The best things in life are on the other side of maximum fear - Will Smith.

31/03/2017

Owners of a condo unit at Gallop Gables were ordered by the Strata Titles Board to remove the new windows and sliding doors and replace with those identical to the original design.

Original items can be replaced but not with items of changed designs, dimensions and opening styles that affect the external facade.

A couple at a condo unit at Gallop Gables in Farrer Road was ordered by the Strata Titles Board to remove new windows and sliding doors at the balcony and replace ...

18/03/2017

Oversized air-con ledges - some almost the length of a bus - in a newly built condominium in Sengkang have cast the spotlight on a loophole that allows developers to build them without having them counted as part of the gross floor area (GFA).

Yet, they are allowed to charge home buyers for that same space.

Each year, Singapore's private property owners pay $780 million for air-con ledges, estimates consultancy International Property Advisor chief executive Ku Swee Yong.

Oversized air-con ledges - some almost the length of a bus - in a newly built condominium in Sengkang have cast the spotlight on a loophole that allows developers ...

10/03/2017

Total debt servicing ratio:

No change to the 60% threshold, but it no longer applies to mortgage equity withdrawal loans with loan-to-value ratios of 50% and below. Such loans allow borrowers to use residential properties as collateral to get cash. This change benefits asset-rich but cash-poor retirees.

Seller's stamp duty (SSD):

Apply only to homes bought on or after 11 March 2017.

The SSD holding period will be cut to three years, down from four i.e. properties sold more than three years after purchase will not attract SSD.

The SSD rates will also be lowered by four percentage points for each tier.

SINGAPORE - The Government announced tweaks to property cooling measures on Friday (March 10).. Read more at straitstimes.com.