Newsletter [Aug 2023]
July sees record-breaking numbers as four projects drive demand. Sales of private homes in Singapore Skyrocketed in july, reaching five-fold increase compared to the previous month. The launch of four new projects accounted for 82% of the total sales.
Experts predict a strong sales forecast for the year, with estimates ranging from 7,000 to 8,000 new homes sold and an increase in prices of 3% to 5%.
Prime Minister Lee introduced three new categories for public housing in his recent National Day Rally Speech. [...]
26 Aug 2023
Newsletter [May 2023]
Private home prices are expected to rise by 6% to 8% in 2023. Developers are expected to sell 8,000 to 9,000 new homes this year.
Surge in sales of new private homes driven by successful launches in the TVT. Moderate outlook for Private Resale market with slightly declining transaction volume.
Healthy demand fro HDB resale flats, increased CPF housing Grant amounts encourage buyers in the resale market. Changes in HDB processes for assessing buyer eligibility. Introduction of HFE letter to [...]
21 May 2023
Newsletter [Mar 2023]
The Rental Market appears to have peaked & is expected to decline in the coming months due to a showdown in viewings & longer listing times.
Fed (US) has indicated that it plans to cut back on interest rates in the event of a potential US recession, which is a positive development.
Tembusu Grand, jointly developed by City Developments (CDL) & MCL Land, is set to launch soon and offers excellent connectivity to nearby amenities & potential for capital appreciation.
24 Mar 2023
Newsletter [Jan 2023]
Singapore Real Estate Market will remain a bright spot globally amid growing macroeconomic headwinds. Bolstered by a lack of supply for most sectors.
Private Residential Prices grew by 8.4%, HDB Resale Prices grew by 10.3% in 2022.
Tenet EC 93.2% sold with all Four-Bedroom units fully sold. Sceneca Residence sells 60% on Launch day, a disappointing result with 30% conversion rate.
Property Conveyancing to go Digital by 2026 [...]
27 Jan 2023
Borrowing Stress-Test to 4.5%
With immediate effect, major banks including HSBC, DBS & OCBC have increased their borrowing stress-test to 4.5% from the previous 4%.
Private Property Buyers will experience a decrease in loan amount for the same income. This also means an increase of 3% to 6% income requirement for the same loan amount.
This move came earlier than expected as the latest round of adjustments made by the government was on 30 September 2022. In the previous round of Cooling Measures [...]
15 Nov 2022
Cooling Measures 2022
Joint Press Release by MAS, MND & HDB. New Cooling measures to promote sustainable conditions in the property market by ensuring prudent borrowing and moderating demand.
Borrowing Stress-test to increase from 3.5% to 4%. This will apply to loans granted by private financial institutions. HDB Loans to introduce 3% stress-test, while fixed interest rate of 2.6% remains unchanged.
Loan-to-Value (LTV) for Housing loans will be reduced from 85% to 80%. A 15-month wait-out period will be imposed for Private Residential [...]
30 Sep 2022
Newsletter [Aug 2022]
70.9% Surge in New Home Sales in the month of August. OCR sales driven by launch of AMO Residence which sold 98% on the first day of the launch. 40% of transactions in OCR sales crossed $2 million mark.
7,219 BTOs completed in the first half of 2022, 15% more over the same period last year.
Singapore household net work grew by 55% from 2014 to 2021. According the HSBC, Singapore will surpass Australia to have the highest share of millionaires by 2030. [...]
24 Aug 2022
Newsletter [Apr 2022]
Post-Cooling Measures, Private Non-Residential Market buyers adopted a wait-and-see approach.
HDB Resale Price index grew 12% YoY. Despite lower transaction volumes, 82 flats were sold for at least $1 million, 6 were sold above $1.3 million.
Piccadilly Grand saw 5,400 visitors on Preview Weekend. Liv@MB launch draws near.
Golden Mile Complex, Lakepoint and International Plaza Re-launched for Collective Sale at $800 million, $640 million and $2.7 billion respectively. [...]
26 Apr 2022
Newsletter [Jan 2022]
2021 has been an EXCITING YEAR for the property market. With New Launches selling like hotcakes and Resale HDB prices recovering at great speed.
While HDB prices have reached an all-time high, more negative sales were also recorded over the same period. That is alarming news for HDB owners that are still hesitant to reorganise their portfolio in a highly-liquid market.
Looking back at 2021, we know that it is almost impossible to replicate what happened. With fears of possibly having another round of cooling measures. Both Buyers and Sellers take a wait-and see approach as GLS have been moderated to keep up [...]
28 Jan 2022
Newsletter [Nov 2021]
Canninghill Piers sold 528 out of 696 units (77%) on launch day with a total sales valued at over $1.18 billion and an average psf of $3,000.
Demand for Four-room flats in the first BTO project under the new PLH model have been strong, with an overall application rate of 10.3 per unit in the first week of the launch, mainly driven by second timers.
Stamp Duty collected rose sharply from $1.2 billion in 2020 to $3.22 billion in 2021. Over the same period, due to strong demand in the Private Property Market.
27 Nov 2021
Newsletter [Jul 2023]
Private housing market shows signs of moderation, with slow down in price momentum in 2Q 2023. Prime non-landed homes slowdown due to reduced participation from foreign buyers following the increase of ABSD.
Decline in rents of private non-landed homes, attributed to an influx of new housing supply in 2023.
Successful launches in July - Lentor Hills 50%, Grand Dunman 54%, Pinetree Hill 28%, The Myst 27%.
Successful Land Bids: Tampines Street 62 [...]
30 Jul 2023
Cooling Measures Apr 2023
The Singapore Government announced an increase in Additional Buyer's Stamp Duty (ABSD) rates as a means to encourage a sustainable property market.
The revised rates will be effective starting from 27 April 2023.
Read more on.. Who is affected, previous cooling measures, what is Additional Buyer's Stamp Duty and my personal opinion on the recent round of cooling measure..
27 Apr 2023
Newsletter [Feb 2023]
Increased Marginal Buyer's Stamp Duty Rates for Properties valued above $1.5 million. Price Index expected to grow another 12% in 2023.
Meyer Park was bought by UOL at a land rate of $1,668 psf ppr, setting a new benchmark price for D15, East Coast. Jcube to be Re-developed into a 40-storey mix-use development.
Terra Hill Draws 5,000 Visitors for its preview. The Botany at Dairy Farm draws 4,6000 Visitors for its Preview. Blossoms by the Park to launch for its Preview in the first two weeks of March. [...]
24 Feb 2023
Newsletter [Dec 2022]
MOF & IRAS revised the Annual Value of Homeowners for 2023. That means higher taxes. Higher-End properties are largely affected.
Tenet EC sold 72.3% on launch day at an average price of $1,360 psf. Breaking a new record among ECs. Copen Grand Fully Sold on 26 Nov after 2nd-timer balloting.
3 New Residential Sites added into 1H 2023 GLS Program - Lorong 1 Toa Payoh, Lentor Gardens & Plantation Close EC site.
24 Dec 2022
Newsletter [Oct 2022]
Property Price index increased by 3.8% QoQ in 3Q2022, bringing the overall private home price increase to 8.2% for the first 3 quarters of 2022.
Inventory of New Launches continues to stay low as Developers struggle to keep up with the Market Demand.
Demand for New Launches remains robust as seen on the high take-up rates for the past 5 quarters. However, overall sales volume has fallen by 35% YoY.
Resale volume fell by 40% YoY, and will continue [...]
25 Sep 2022
Newsletter [Jul 2022]
Singapore Property Price Index (PPI) increased by 3.5% in 2Q2022 with RCR leading the way. Stronger Price Gains were due to New Launches.
Inventory of Unsold Non-Landed Private Residential Properties remains low, while take-up rates have outstripped supply for 5 straight quarters. In the Resale Market, Inventory and buying volume as fallen.
AMO Residence 98% sold on launch day with average prices of units sold is said to be about $2,100 psf. This is the first OCR Project to test the $2,000 psf [...]
25 Jul 2022
Newsletter [Jun 2022]
A Chinese buyer purchases 20 units in a bulk deal at a Luxury Condo - Canninghill Piers. The Total Purchase Price is believed to be over S$85 million.
Singapore Government announced 14 Sites under the 2H 2022 Government Land Sale (GLS) Programme. Pine Grove and Dunman Sites snapped up in latest tender.
Lakepoint Condo Enbloc closed without any bids. While Elizabeth Towers has been re-launched for Collective Sales. Lakeside Apartments closed 14% high than original reserve price. [...]
24 Jun 2022
Newsletter [Mar 2022]
Household Income rose by 3.6% in 2021 to $9,520 per Household. Lower to Middle Income Earners increased the most. At the same time, Income Equality has fallen to its second lowest point since 2001.
Rental Market on heat as Condo Rents rose 14 consecutive months, while HDB rents rose for 20 consecutive months due to delays in completion of HDBs. Buyers being priced out due to cooling measures and low supply of housing options for some.
11 Thomson-East Coast Line (TEL) stations to open this year at stage 3 of the project. Running from [...]
25 Mar 2022
Newsletter [Dec 2021]
In the last 2 weeks of December, a new set of Cooling Measures have been announced, targeted at two segments of the market; Developers and Lower-Income Home Buyers.
A day after the cooling measures were announced, 10 new Residential sites were released, as well as 2 EC sites and 1 Hotel site. With an estimated total of 2,290 Residential units in the Confirmed list and 3,015 Residential units in the Reserved list.
HDB announced its plans to launch more than 30,000 units for the next two years to keep up with [...]
31 Dec 2021
Newsletter [Jun 2023]
New Private homes sales reached one-year high in May. 1,038 units were sold, marking a 17% increase compared to the previous month. Median prices of 1&2 Bedroom units soared by 31.3% in the RCR, 15.3% in the OCR on a year-to-year basis. A noticable trend among new launches.
Tenants resist surge in home rents despite rising costs, rental market expected to face headwinds this year as more new homes are being completed in the 2nd half of 2023.
Singapore Government beefed up housing supply [...]
23 Jun 2023
Newsletter [Apr 2023]
Singapore's Industrial and Logistics property market has seen a decline in sales and leasing activity in Q1 2023, attributed to a more pessimistic manufacturing outlook for Singapore this year.
Lentor Gardens GLS closed with only 1 bid by GuoccoLand at $985 psf ppr. Lowest in Lentor Estate.
Tembusu Grand sold 54% on launch day, 90% of buyers were Singaporeans in their 30s.
4 Upcoming Launches in Q2 2023: The Continuum, The Reserve Residence, Newport Residence [...]
23 Apr 2023
The Singapore government is introducing measures to make public housing more affordable and accessible for young families buying their first homes. This includes an increase in the CPF Housing Grant for eligible first-time buyers, as well as giving greater priority during BTO applications to First-Timer families with children and young married couples aged 40 years and below who are buying their first home.
The Singapore government has announced an increase in Buyer's Stamp Duty (BSD) rates for higher-value residential and non-residential properties. [...]
14 Feb 2023
Newsletter [Nov 2022]
Singapore Headline Inflation eases to 6.7%, down from 7.5% in September. New Home Sales plunge in October by 68.4%, down to 312 units sold by developers.
Tenet drew 5,000 visitors on preview week, Sceneca Residence to launch in Jan-2023. 8 Upcoming launches for 1Q 2023.
Bukit Timah Link & Hillview Rise closed with 5 & 4 Bidders respectively in latest GLS Programme.
People's Park Centre Re-launched for Collective [...]
25 Nov 2022
URA Revised Guideline
URA Introduced a new guideline on 18th Oct to stop the increasing number of shoebox units of non-landed private residential properties in the Central Region.
With effect of 18 Jan 2023, all flats and condominiums in the Central area, as well as the residential component of commercial and mixed-use developments will be required to provide a minimum 20% of dwelling units with a net internal area of at least 70 sqm. Similar to the size of a 2 bedroom unit.
The Central area covers 11 planning areas including Outram, Newton, River Valley, Marina South [...]
18 Oct 2022
Newsletter [Sep 2022]
An anomaly in the market, Price Gaps of Homes in the CCR, RCR & OCR have been narrowing since April 2022.
Six more MRT stations will be built in Phase 2 of the Cross Island Line (CRL). Spanning 15km, the stations will improve connectivity for residents in the west such as Sunset Way & West Coast, which are currently not served by ay MRT Lines.
Lentor Modern 85% sold on Launch day as 1 & 2 bedroom types are fully sold out. Copen Grand under the spotlight as OCR Developments inch [...]
25 Sep 2022
Newsletter [May 2022]
Singapore Government has closed an existing Loophole on the transfer of Residential Property into Living Trust. 35% ABSD will now be payable upfront, and the difference refunded within 6 months.
Find out why more people are buying into OCR & RCR instead of Properties in the CCR region and why the Gap is closing up.
Piccadilly Grand & Liv@MB sees more than 77% and 79% sold on launch day. Landed property prices surged by 13.3% in 2021, the fastest price increase over the past decade. [...]
27 May 2022
Newsletter [Feb 2022]
Singapore Property Market to emerge as winner in South East Asia as peers in region races to vaccinate its population. Budget 2022 was delivered on 18 Feb. Of all Market Segments, Luxury Properties to take the biggest hit.
Jalan Tembusu site & Lentor Hills (Parcel A) site tender results shows signs of market optimism slowing down amidst cooling measures, despite dwindling Supply.
Feb 2022 BTO launches. 6 Projects in 4 Estates. Yishun to be the cheapest launch with the shortest wait time of 3 years. [...]
24 Feb 2022
Cooling Measures 2021
The Government announced a package of measures to cool the private residential and HDB resale markets.
With effect from 16 December 2021, ABSD will be raised, and TDSR threshold will be tightened. The Government will also tighten the LTV limit for loans from HDB from 90% to 85%. In addition, the Government will increase public and private housing supply to cater to demand.
ABSD will be increased to 17% for Singapore Citizens purchasing their 2nd Residential Property and 25% for their 3rd Residential Property.[...]
16 Dec 2021