The Federal Reserve (Fed) has finally cut interest rates after keeping them elevated over a prolonged period. On 18 September 2024, the Fed announced a cut of 50 basis points (bps), lowering its target interest rate range to 4.75% to 5.00%. This marks a decrease from the previous range of 5.25% to 5.50%, the highest in 23 years. Notably, this is the first rate cut following a series of hikes that began...
ERA Insights
Overview August saw 208 new private homes sold, including seven landed units from the Pollen Collection. This figure represents a 63.6% month-on-month (m-o-m) decline, marking the lowest number of new private home sales since February 2024, when 149 units were sold. The steep decline can be attributed to the absence of new project launches during the Hungry Ghost Month, as well as the high sales base...
If all Government Land Sale (GLS) sites have a 99-year leasehold (99-LH) tenure, then why are there 999-year leasehold (999-LH) or freehold developments? Freehold land parcels were last sold prior to the introduction of GLS Programme in 1967, mostly taking place before Singapore’s independence.In land-scarce Singapore, selling residential land on a 99-year lease allows the government flexibility to...
During his first National Day Rally this year, Prime Minister Lawrence Wong cast a spotlight on housing options with improved infrastructure for Singaporean seniors, highlighting that “there are seniors who prefer not to move” who desire to “age in place, where they currently live”. However, some seniors may not be able to preserve their current living arrangements – primarily those who live in...
Continuing the trend of moderate price growth for resale flats, the latest HDB quarterly transaction data indicates a modest uptick in prices for 2Q 2024, with the Resale Price Index rising to 187.6. This is a 2.3% increase from the previous quarter, and a 6.6% from the same period in the previous year.”Similarly, the volume of resale HDB flat transactions showed upwards movement, reaching 7,352 units...
Singapore’s private property market continued to slow down one year after the adjustments to Additional Buyer’s Stamp Duty (ABSD) rates were introduced in April 2023.Furthermore, buyers have turned cautious and have pushed back their homebuying plans amid strong headwinds from slower economic growth. This has been further compounded by higher-for-longer interest rates and the higher cost of replacement...
Since its introduction in 1967, the Government Land Sales (GLS) programme has proven largely instrumental in shaping Singapore’s urban transformation, allowing state land to be sold periodically to interested property developers.However, the significance of GLS launches extends beyond this role. Their results may also offer key insights into future property prices as well as developer sentiment. So, the...
Singapore’s Master Plan is widely known for guiding the development of every plot of land in the country, ensuring that our urban growth takes place in a systematic and progressive manner. But more than that, the many changes outlined in the Master Plan could mean good news for local homeowners, both current and aspiring. By optimising Singapore’s limited space, the Master Plan aims to tackle...