Amid a slowdown in overall demand for new private homes in Singapore in 2023, sales in the prime district have remained robust. Factors contributing to this trend include a lack of new launches in the prime district, narrowing price gaps compared to other regions, and the appeal of prime district properties for high-net-worth individuals. Key […]
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 Raffles Town Club site is scheduled for redevelopment into homes after its lease expires on October 17, 2026, according to the Singapore Land Authority (SLA) and Urban Redevelopment Authority (URA). The club, currently situated near Stevens MRT station, will need to vacate its premises to make way for future residential development. This decision aligns […]
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 […]
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 significant move, public housing flats will be launched in the Pearl’s Hill area near Chinatown for the first time in 40 years. This initiative is part of the government’s broader plan to diversify housing types in central locations and breathe new life into the city center, creating vibrant mixed-use districts. The objective is […]
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 […]
