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Subscribe to this list via RSS Blog posts tagged in resale

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National Development Minister Khaw Boon Wan has clarified that the new housing policies announced on Sunday targeting home buyers from different income groups has little to do with the upcoming general election, reported The Business Times.

“If you have been watching what we have been doing since I entered MND (Ministry of National Development) more than four years ago, we have been making adjustments practically every year.

My objectives are quite clear – that home ownership is a very important part of the governance of Singapore,” said Mr Khaw who spoke to reporters at the HDB Hub on Monday.

He noted that he focuses on certain groups of people in turn. The latest policies benefit middle to higher-income groups, home renters and singles, after the Build-To-Order (BTO) backlog for first-time newlyweds was resolved.

“That is how I approach the problem. Has it got to do with GE? I do not care less when the GE is, but problems need to be resolved and when I am ready, I come up with a scheme and discuss it with Singaporeans.

And once I am convinced that those are practical schemes, I will launch it as soon as we can do so,” he shared.

When asked if the higher income ceiling could result in more competition for BTO flats, Mr Khaw stated that he expects the market to adjust by itself.

Nonetheless, he acknowledged that there will be movements in the market. “Some EC buyers may move into BTO applications; some BTO applications may go up to ECs and so on.

At the borders of ECs and condos, there will also be movements. The key point is we have leverage over the supply and we can adjust the supply, expanding and reducing as necessary.”

On whether private homeowners who previously exceeded the income cap will now look towards the public housing market, Mr Khaw said this is a matter of personal choice which the government leaves to the hands of Singaporeans.

“We make options available, so they are then free to choose.”

Taken ProperyGuru

Tagged in: bto resale
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Posted by on in Uncategorized

Singapore’s core mortgage benchmark saw a hike on 14 September 2015 (Monday), to the highest level since 2008.

According to data released by the Association of Banks in Singapore, the three month Sibor (Singapore Interbank Offered Rate) increased from 1.07483 per cent on Thursday (10 September 2015) to 1.13100 per cent on Monday.

The rising interest rate could have an adverse impact on residential property owners, who are currently facing the problem of lower rents and resale values.

Taken from iProperty

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Posted by on in Uncategorized

The HDB Resale Price Index (RPI) stood at 135.0 in Q2 2015, a fall from 135.6 in the previous quarter – marking its eighth consecutive quarter of decline.

Resale transaction volume increased from 4,135 to 5,286 in the last quarter, marking a 27.6 per cent increase quarter-on-quarter.

The number of resale applications also saw a jump, with applications for four-room flats leading with 2,120 applicants, and three-room flats trailing behind with 1,518 applicants.

This was mirrored by the number of subletting transactions, which increased by 1.2 per cent, from 10,385 to 10,510.

Taken from iProperty

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Mr Khaw Boon Wan, Minister for National Development, reported that the HDB will keep on causing high net shortages throughout the following few years; the net shortfall surged to S$1.97 billion in Fy2013/14.

Mr Khaw clarified that the surge was credited to the sponsorship given to purchasers of new pads under the Home Ownership Program and the payment of CPF Housing Grants designated to qualified purchasers of resale pads.

He included that the future deficiency will be reliant on a few components including lodging demand, HDB's building and updating projects, improvement expenses and approach changes.

Likewise, Mr Khaw specified that the HDB will give a third advance for purchasers just under uncommon circumstances in a push to dishearten "agitating" of resale pads.

Taken from ST Property

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Costs of HDB resale pads fell by 0.4 every penny month-on-month in December, arriving at the least point since August 2011, as indicated by the Singapore Real Estate Exchange (SRX) property report.

The decrease was determined by experienced homes, where resale costs fell 0.9 every penny. Resale costs for four- and five-room pads decrease by 0.7 every penny and 0.3 every penny individually.

The decrease was more proclaimed for non-develop bequests, where four- and five-room pads declined 0.9 every penny, 0.7 every penny and 0.3 every penny individually.

Three-room pads stayed unaltered while official pads expanded 1.9 every penny. Generally, HDB resale costs saw a 6.1 every penny year-on-year drop contrasted with December 2013.

Resale volume went up 28 every penny year-on-year in 2014 focused around the SRX information. Mr Nicholas Mak, Head of Research and Consultancy at SLP International, told Channel Newsasia it is pivotal "to take a gander at the general pattern, over these two years or three years, and we can see that for the entire of 2014, property costs and volumes have really been contracting." Property investigators anticipate that costs will keep falling between 4.5 to 9 every penny in 2015.

HDB pads and private homes saw a 0.4 every penny and 0.8 every penny month-on-month decrease in rents in December individually, as indicated by SRX Property.

Rents for HDB pads fell 2.1 every penny, year-on-year. Rental volume for HDB pads expanded by 2.3 every penny on a year-on-year premise, yet had a 4 every penny month-on-month fall in December 2014.

As indicated by SRX, the general average Transaction Over X-Value (TOX) crossed into negative region a month ago, enrolling negative $10,000 in December 2014, looked at to $0 in November. Regions 25 (Kranji, Woodgrove) and 15 (Katong, Joo Chiat, Amber Rd) had the most astounding average TOX at $25,000 and $24,000 separately. Though locale 10 (Bukit Timah, Holland, Tanglin), 23 (Bukit Panjang, Choa Chu Kang) and 5 (Pasir Panjang, Clementi) were at the base, with an average TOX of -$80,000, - $41,000 and -$32,000 individually.

A report by Colliers International uncovered that offers of extravagance properties, worth above $5 million, added up to $546.55 million in the final quarter of 2013, higher than the past seventy five percent.

The figure was supported by two critical buys of extravagance private pads by The Blackstone Group, an American private speculation managing an account firm.

Colliers expressed that "The finish of the two deals showed the setting in of merchant's weariness in the midst of the drawn out down cycle in the extravagance private portion, where the cost hole in the middle of purchasers and venders is narrowing, as the last are progressively all the more ready to arrange."

Mr Getty Goh, Director of Ascendant Assets, told speculators amid a business viewpoint gathering that private home costs are relied upon to "go down in the following couple of quarters, and it could keep on going down for the following one to two years, or possibly it will stagnate and won't go up."

Taken from ST Property

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Resale costs for open cabin properties and private properties declined through and through in 2014, as showed by the HDB and the URA.

The latest blast assessment of the HDB Resale Price Index uncovered that expenses dropped by 1.4 each penny in Q4 2014, following in a general diminishing of 6.1 each penny in 2014. This is the best fall taking after 2001 (8.2 each penny) according to Mr Ismail Gafoor, Chief Executive of Propnex Realty, met by TODAY.

URS gleam assessments of the private property estimation rundown showed an one each penny plunge in Q4 2014, resulting in a general diminishing of four each penny for 2014. This yearly abatement is the first since 2008.

In the Core Central Region (CCR) and Outside Central Region (OCR), expenses of non-landed private properties recorded a 0.9 each penny fall in the last quarter of 2014.

Non-landed private properties in the Rest of Central Region (RCR) enrolled the greatest decline, of 1.2 each penny, took a gander at to a milder 0.4 each penny dunk in the second from last quarter. For the whole of 2014, expenses in CCR, RCR and OCR fell by 4.1 each penny, 5.2 each penny and 2.2 each penny independently.

Relating to the Singapore Business Review (SBR), Mr Alan Cheong, Senior Director at Savills said that for 2015 on the other hand, "Properties in the Core Central Region (CCR) will see the best declines, while costs in the Rest of Central Region (RCR) and the Outside Central Region (OCR) will either stay level or creep down potentially."

The private property business will see expenses continue moderaing by four each penny to ten each penny in 2015, according to a couple of property specialists met by SBR.

The typical lessening is attributed to distinctive reasons, including the cooling measures, best in class supply of homes, frail buyer feeling and the ordinary trek in speculation rates.

Taken from ST Property

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The Housing and Development Board (HDB) resale showcase in Singapore is required to stay unnoticeable in 2015. The HDB reported that resale level costs saw 7.3 every penny change in money related 2012/13, which regulated to 3.4 every penny in Fy2013/14.

With the supply of resale pads climbing, property examiners expect further alter in costs.

The Ministry of National Development overviewed that 47,505 private units, including private and power townhouses, will be carried out in 2014, took after by 50,592 and 60,623 units in 2015 and 2016 autonomously. By 2017, 200,034 private units will be amassed and completed.

Mr Chris Koh, Director of Chris International told Channel Newsasia, "Generally, amidst the year-end period you get less exchanges and unmistakably, that has an impact on costs. You have the school occasions, the celebrations. By then 2015, the start of the year will again be a moderate quarter."

The Total Debt Servicing Ratio (TDSR), executed in June a year former, has comprehended an unfaltering fall in private home costs, starting in Q4 2013. Market investigators suspect that the dropping sample will advance in 2015 as demand challenged people while the supply of private homes climbs.

Mr Mohamed Ismail, CEO of Propnex Realty recognizes that the Government won't slacken up cooling measures at this stage.

He said in a social event with Channel Newsasia, "on the off chance that you take a gander at any sort of a gage to quantify, from the psyche of the powers, they are communicating that yes, we understand volume has dropped 30, 40, 50 every penny on different bundles yet costs have not dipped even near to ten every penny."

Other property watchers Channel Newsasia talked with remarked that the Government may be taking a gander at extra pointers, case in point, monetary progression, wander and business rates.

Ms Chia Siew Chuin, Director for Research and Advisory at Colliers International, said, "With all these parts 'in the not too distant past consistent, it would then gather that if the lawmaking body were to uproot the measures at this point, it would be nonsensically awkward.

Whatever endeavors that have been put set up going before contain or to control purchasers from over-making themselves, that would have been useless."

Taken from ST Property

Tagged in: hdb property resale SRX
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