New measures to cool HDB resale market

Posted by Property Launch Invest on Thursday, 26 September 2013 in Property News

With immediate effect, the Housing and Development Board has shortened its maximum loan tenure to 25 years and the mortgage servicing ratio limit has also been cut to 30 per cent of the borrower's gross monthly salary.

SINGAPORE - With immediate effect, the Housing and Development Board (HDB) has shortened its maximum loan tenure to 25 years and the mortgage servicing ratio (MSR) limit has also been cut to 30 per cent of the borrower's gross monthly salary.

Previously, the maximum HDB loan tenure was at 30 years and the MSR limit was at 35 per cent of the borrower's gross monthly salary.

More HDB resale flats being sold with zero COV

Posted by Property Launch Invest on Thursday, 26 September 2013 in Property News

More people are selling their HDB flats in the resale market without a cash premium. The Singapore Real Estate Exchange said transactions involving zero Cash-Over-Valuation have more than tripled.

SINGAPORE: More people are selling their Housing and Development Board (HDB) flats in the resale market without a cash premium.

The Singapore Real Estate Exchange (SRX) said transactions involving zero Cash-Over-Valuation (COV) have more than tripled, from 14 in January to 49 in July.

How dangerous Is Singapore's soaring household debt?

Posted by Property Launch Invest on Thursday, 26 September 2013 in Property News

Sam Kang Li | Bloomberg | Getty Images

The wealthy Southeast Asian nation Singapore has seen soaring household debt levels in recent years as low interest rates have led to a borrowing spree, prompting the government to step in to curb demand.

This island state, which is an important financial hub, has among the highest leve; of household borrwing relative to gross domestic product (GDP) in Asia at 77 percent, rising from around 64 percent in 2007. Home loans, which account for around three quarters of household debt, have grwon rapidly in recent years together with a booming property market.

Claustrophobic images show how slum families squeeze their lives into the tiniest apartments

Posted by Property Launch Invest on Thursday, 26 September 2013 in Property News

They are barely bigger than a toilet cubicle.

Yet these depressingly cramped spaces serve as a kitchen, living room, dining room, bedroom, pantry and everything in between for their cooped-up inhabitants.

Those unfortunate enough to live in these urban slums range from the elderly and unemployed to low-income families and singletons.

Executive Condominum

Posted by Property Launch Invest on Wednesday, 25 September 2013 in Property News

It staged a strong comeback after the last launch in 2004. Since then, supply is set to double and more. The total EC units under construction including recent land sales, launched in less than 2 years, is now about the same as the existing completed supply, where it took over 10 years to sell and build.

Move among initiatives to boost financial prudence, improve affordability of public housing

Posted by Property Launch Invest on Tuesday, 24 September 2013 in Property News

SINGAPORE — To encourage financial prudence and mitigate an impending rise in interest rates, the Housing and Development Board (HDB) announced yesterday that it would cut, with immediate effect, the maximum loan tenure from 30 years to 25 years for its housing loans, and reduce the mortgage servicing ratio (MSR) limit from 35 per cent to 30 per cent of the borrower’s gross monthly salary.

HDB cuts loan tenure as interest rate hikes loom

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And with effect from today, financial institutions will shorten the maximum tenure of their new housing loans and re-financing facilities from 35 years to 30 years.

Frasers’ S$1.43b top bid for Yishun site stuns market

Posted by Property Launch Invest on Tuesday, 24 September 2013 in Property News

SINGAPORE — A mixed commercial and residential site in Yishun attracted a top bid of S$1.43 billion from Frasers Centrepoint units at the close of tender yesterday, HDB data showed, well above the competing bids in a provisional result that took analysts by surprise.

The 99-year leasehold site, made available through the Government Land Sales programme, was put up for tender in June. The site sits on 442,234 sq ft of land.

The Ministry of National Development said the recent property cooling measures are still necessary and relevant to avoid a major price correction when economic conditions change.

Posted by Property Launch Invest on Tuesday, 24 September 2013 in Property News

SINGAPORE: The Ministry of National Development (MND) said the recent property cooling measures are still necessary and relevant to avoid a major price correction when economic conditions change.

Even though housing demand and price growth have eased, MND noted market activity remains robust and prices continue to rise.

It also noted interest rates remain unrealistically low.

More land to be freed up as population grows.

Posted by Property Launch Invest on Tuesday, 24 September 2013 in Property News

SINGAPORE — The Republic’s shoreline will be extended by land reclamation, some areas used for military training will be developed for other uses and golf courses will make way once their leases expire.

These are some of the methods the Government will employ to free up land to build more homes — including in three new towns and four new housing estates — and infrastructure to support the projected growth in the population size in the decades ahead.

Ambitious plans for 3 new HDB projects

Posted by Property Launch Invest on Monday, 23 September 2013 in Property News

From lush spaces for neighbourly bonding to cycling trails for healthy living, National Development Minister Khaw Boon Wan promised that each new Housing Board project would be a cut above the rest.

"Every new town must be better than the previous one," he said as he unveiled plans for the upcoming Bidadari, Tampines North and Punggol Matilda districts yesterday.

PRs may switch to mass-market condos

Posted by Property Launch Invest on Monday, 23 September 2013 in Property News

New rules governing permanent residents (PRs) buying HDB resale flats could send ripple effects through the markets for private homes and executive condominiums (ECs), say analysts.

As the rules announced on Tuesday make it harder for PRs to buy resale flats, they may seek mass-market condos instead.

10% drop expected in HDB resale deals and prices of bigger flats

Posted by Property Launch Invest on Monday, 23 September 2013 in Property News

The price of larger resale flats and the number of resale deals might dip by about 10 per cent as a result of the Housing Board's latest measures, say experts.

Cash premiums paid for them could also decline, as news of the changes starts sinking in.

On Tuesday, National Development Minister Khaw Boon Wan unveiled policy changes, including tighter mortgage terms and shorter loan tenures, that aimed to encourage financial prudence and to stabilise the market.

TDSR rule may be driving homebuyers to small units

Posted by Property Launch Invest on Monday, 23 September 2013 in Property News

Prices of small completed private apartments and condos in Singapore recovered in July after slipping for two consecutive months, latest flash estimates from the National University of Singapore (NUS) show.

Market watchers suggest the Total Debt Servicing Ratio (TDSR) framework, which took effect from June 29, could be driving buyers to the small-unit segment.

The Singapore Residential Price Index (SRPI) for small units (up to 506 sq ft) islandwide rose 2 per cent in July over June to its highest level since December 2001, the start date of the SRPI series.

New PRs 'likely to eye private homes under $1m'

Posted by Property Launch Invest on Monday, 23 September 2013 in Property News

Private homes costing under $1 million may now draw keener interest among Singapore permanent residents (PRs) who have held their residency status for less than three years, and who are now blocked from buying HDB resale flats, property consultants say.

They added, however, that the shift to the private property segment by this group of buyers is unlikely to raise the number of private-home transactions significantly.

The HDB resale market recorded 25,094 transactions last year. The HDB said a fifth of resale flats are bought by PRs.

Condo to be priced lower than neighbour Sky Habitat

Posted by Property Launch Invest on Monday, 23 September 2013 in Property News

Capitaland is pricing its new condo project in Bishan lower than its earlier next-door launch, Sky Habitat. It is also minting smaller units, and a higher proportion of smaller units, in a strategy seen as keeping lumpsum prices within reach of a bigger pool of buyers.

The two 99-year leasehold projects are near Bishan MRT Station.

The property giant will open the showflat for its latest 694-unit Bishan project, whose name it has not made known, from tomorrow.

Upcoming Waterwoods EC to offer private lifts

Posted by Property Launch Invest on Monday, 23 September 2013 in Property News

Artist's impression of Waterwoods Executive Condominium

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SINGAPORE: An upcoming executive condominium (EC) project Waterwoods in Punggol will offer private lift lobbies for larger units - a feature more commonly associated with upscale apartments.

Its developer Sing Holdings said the project will also be the first to include maisonettes in the EC segment.

Waterwoods is Sing Holdings' first foray into the executive condominium market and the builder of mid to high-end homes will be adding some exclusive features to the project.

Hard to find condo unit under $1,000 psf

Posted by Property Launch Invest on Monday, 23 September 2013 in Property News

If you think it is near impossible to pick up a mass market condominium unit for under $1,000 per sq ft these days, you could be right, as recent statistics show.

Coming up: Over 100,000 housing units

Posted by Property Launch Invest on Monday, 23 September 2013 in Property News

The number of new private properties in the pipeline has ballooned to more than 100,000 units at the end of the third quarter, said the Urban Redevelopment Authority (URA) yesterday.

The news may bring cheer to buyers concerned about the persistent uptick in prices but dismay to those who had bought for investment or leasing purposes.

The upcoming private home supply comprises 83,975 private residential units, 9,824 executive condominiums and 10,070 units from land sites that the Government has sold, or that are slated for sale. This is the highest-ever total recorded since data was collected in 2001.

Khaw: Need for 700,000 more homes by 2030

Posted by Property Launch Invest on Monday, 23 September 2013 in Property News

Enough land has been set aside for 700,000 more homes here by 2030 - more than half the 1.2 million households currently - to cater to a growing population.

This is part of a plan to provide good and affordable housing for Singaporeans detailed in the Population White Paper yesterday, as the population may reach 6.9 million by then.

"To support that kind of trajectory, we estimate that we will need another 700,000 new homes," said Minister for National Development Khaw Boon Wan at a press conference.

Thomson Line spells boom for nearby properties

Posted by Property Launch Invest on Monday, 23 September 2013 in Property News

new-launch-mrt

By Romesh Navaratnarajah:

Singapore's upcoming Thomson MRT Line (TSL) is expected to boost housing prices in nearby projects. In particular, older condo projects directly opposite Sin Ming station could see hefty price gains, according to MayBank KimEng Research.

Faber Garden Condominium and The Gardens at Bishan will likely see prices go above S$1,000 psf as the station will be located in a more secluded part of Bishan.

PROPERTY LAUNCHES & INVESTMENTS

Property Launches & Investments

New measures to cool HDB resale market

With immediate effect, the Housing and Development Board has shortened its maximum loan tenure to 25 years and the mortgage servicing ratio limit has also been cut to 30 per cent of the borrower's gross monthly salary.

More HDB resale flats being sold with zero COV

More people are selling their HDB flats in the resale market without a cash premium. The Singapore Real Estate Exchange said transactions involving zero Cash-Over-Valuation have more than tripled.

How dangerous Is Singapore's soaring household debt?

Claustrophobic images show how slum families squeeze their lives into the tiniest apartments

Executive Condominum

Move among initiatives to boost financial prudence, improve affordability of public housing

HDB cuts loan tenure as interest rate hikes loom

Frasers’ S$1.43b top bid for Yishun site stuns market

The Ministry of National Development said the recent property cooling measures are still necessary and relevant to avoid a major price correction when economic conditions change.

More land to be freed up as population grows.

Ambitious plans for 3 new HDB projects

PRs may switch to mass-market condos

10% drop expected in HDB resale deals and prices of bigger flats

TDSR rule may be driving homebuyers to small units

New PRs 'likely to eye private homes under $1m'

Condo to be priced lower than neighbour Sky Habitat

Upcoming Waterwoods EC to offer private lifts

Hard to find condo unit under $1,000 psf

Coming up: Over 100,000 housing units

Khaw: Need for 700,000 more homes by 2030

Thomson Line spells boom for nearby properties