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...
Real Estate
OverviewOn 25th June 2024, the Urban Redevelopment Authority (URA) announced a list of ten sites on the Confirmed List for their Government Land Sales (GLS) program. These will comprise nine residential sites, inclusive of an executive condominium (EC) plot, and a residential and commercial plot.This is part of an active effort by the government to stabilise property prices and manage long-term housing...
Unlike past years which saw at least four Built-to-Order (BTO) sales exercises in total, 2024 will have just three: one each in February, June, and October. However, with a total of 19,600 units being launched this year, this translates into more opportunities for applicants to secure a flat, plus greater freedom to take their pick from a larger pool of units and neighbourhoods. Source: HDB, ERA Research...
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...
Introduced in 2022, the Land Betterment Charge (LBC) is a tax levied on windfalls arising from increases in land value when development takes place. Additionally, LBC rates are reviewed twice a year by the Singapore Land Authority (SLA), with adjustments made based on location and property type. Just recently, SLA announced the latest update in LBC rates for residential and non-residential properties,...
Just what could a ramp up in the supply of Built-To-Order (BTO) flats do for Singapore’s housing market? On one hand, it is likely to result in greater HDB flat availability for locals, and on the other, it could also lead to further price appreciation.Source: The Straits Times, 3 Mar 2023, ‘We will turn the corner soon’: Desmond Lee says nearly 100,000 homes slated to be ready by 2025, HDB; 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...
Deputy Prime Minister and Finance Minister Lawrence Wong delivered the 2023 Budget statement in Parliament yesterday, and we've summarised the key changes to housing policies in this nifty infographic. Share it with someone who needs a quick refresher! #OneERA...
The 16,379 sq ft site currently houses a single-storey bungalow with several outhouses (Picture: Knight Frank) SINGAPORE (EDGEPROP) - A freehold residential site on Pasir Panjang Road is up for sale by tender with an indicative price “in excess of $18 million”, says marketing agent Knight Frank Singapore. Read also: Telok Kurau land parcel on the market for $30 mil Chia...