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Subscribe to this list via RSS Blog posts tagged in Resale Levy

EC buyer's buying power hit

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

The government's revision of the executive condominium (EC) scheme will see developers being more mindful of a buyer's income ceiling and the project's affordability.

"Affordability of ECs will be hit by the new mortgage servicing ratio (MSR) which is capped at 30 percent of the buyer's gross monthly income (previously, this only applied to HDB BTO and resale flats)," said Mohamed Ismail, CEO of PropNex Realty.

Refining the Executive Condominium Housing Scheme

Posted by Property Launch Invest on Tuesday, 10 December 2013 in Property News

The Government will implement three measures for Executive Condominium (EC) developments to bring the terms for ECs closer to that for public housing, and help support a stable and sustainable EC market. This follows a review by MND on the EC Housing Scheme, taking into account feedback from the Our Singapore Conversation on Housing.

HDB Hotspots: A Heated Debate in the Resale Market

Posted by Property Launch Invest on Monday, 25 November 2013 in Property News

When the Population White Paper was released earlier this year, it sparked off a furore which some say exposes the flaws of policy-making in Singapore. The primary point of contention which drew public ire was the idea that the population in Singapore would reach 6.9 million by 2030, a figure most agree would put a tighter squeeze on resources in an already overcrowded city.

Aside from bringing demographic challenges into the spotlight, the White Paper also stoked an underlying concern which resonated amongst Singaporeans: the concept of home on a nationalistic level, and more realistically, the price of purchasing a home in Singapore.

The Case of the Falling COV: A Step towards Affordability?

Posted by Property Launch Invest on Monday, 25 November 2013 in Property News

Recent findings released by the Singapore Real Estate Exchange (SRX) drew much attention to Cash-Over-Valuation (COV) premiums for Housing and Development Board (HDB) resale flats, with reports stating that overall COVs across all HDB property types have been experiencing a declining trend. In fact, this downward spiral has been said to be so persistent that by the start of September 2013, COVs are said to have fallen to a 4 year low.

In a country where property continues to stir public debate, it is hardly surprising that word about falling COV prices would spread into daily conversations. After all, COVs are by nature often deemed to be an unfair negotiation tactic employed by property sellers for a quick profit, causing much furore amongst those wishing to purchase their first home or to upgrade.

Analysts call for resale levy on HDB-to-EC upgraders

Posted by Property Launch Invest on Saturday, 16 November 2013 in Property News

SINGAPORE: Some property observers say imposing a resale levy on those upgrading from a HDB flat to an executive condominium (EC) could be one of the tweaks the government may make to the current EC scheme.

But they remain divided over the relevance of the current EC scheme in today's market.

National Development Minister Khaw Boon Wan had said on Thursday that the EC scheme cannot carry on in its current form.

Buyers in tizzy over possible EC tweaks

Posted by Property Launch Invest on Saturday, 16 November 2013 in Property News

Uncertainty over subsidies after minister hints at scheme changes

POSSIBLE changes to the executive condominium(EC) scheme, hinted at by National Development Minister Khaw Boon Wan recently, have got buyers and developers worried.

Some are bracing themselves for a cut or even removal of Government subsidies for first-time applicants. Others predict the uncertainty could drive up demand for new launches.

Last Thursday, Mr Khaw told participants at an Our Singapore Conversation dialogue that the EC scheme cannot continue as it is.

PROPERTY LAUNCHES & INVESTMENTS