A new MRT line always brings about hype and conversation. Truer words cannot be spoken for the colourful District 15, which has been patiently waiting for MRT access for decades.District 15, consisting of the East-Coast and Marine Parade residential estates, has a rich and prolific history. From the mid-19th century, the Katong precinct was occupied by the wealthy Peranakan community, a historical fact...
#Property Market
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...
For almost anyone doing it for the first time, buying a home in Singapore can be a confusing process. Throw in a bunch of acronyms, like ABSD (Additional Buyer’s Stamp Duty) and MOP (Minimum Occupation Period), and things can get baffling real quick.However, if you’re intending to take out a loan on a new home purchase, two terms that you’ll absolutely need to know are TDSR and MSR.In their full...
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...