Sales of new private homes down 31.4% in November
Posted 15 Dec 2016 12:50 Updated 15 Dec 2016 22:46
SINGAPORE: Private property developers saw lacklustre sales in November, with the number of new units sold falling 31.4 per cent from the previous month, figures released by the Urban Redevelopment Authority (URA) on Thursday (Dec 15) showed.
Excluding executive condominiums (ECs), 860 new private homes were sold last month, down from the 1,253 units sold in October. Including ECs, 1,110 units were sold, down from October’s 1,542 units.
Property developers launched a total of 1,363 units in November, fewer than the 1,467 units put up for sale the previous month. The bulk of the units were from the Queen’s Peak development in Queenstown, which launched 736 units and sold 271, and the Parc Riviera project in West Coast, which launched 200 units and sold 128.
- CNA/cy
- wong chee tat :)
Showing posts with label homes. Show all posts
Showing posts with label homes. Show all posts
Saturday, December 17, 2016
Wednesday, November 23, 2016
Sunday, August 21, 2016
4,841 HDB flats on offer in August BTO exercise
4,841 HDB flats on offer in August BTO exercise
Posted 17 Aug 2016 10:40 Updated 18 Aug 2016 17:58
SINGAPORE: A total of 4,841 Build-To-Order (BTO) flats were launched on Wednesday (Aug 17), the Housing and Development Board (HDB) announced.
Five new BTO projects were launched - three in the non-mature towns of Hougang, Sembawang and Yishun, and another two projects in the mature town of Tampines, it said in its press release.
The flats are priced from S$79,000, excluding grants, for a two-room Flexi flat in Hougang and Yishun to S$428,000, excluding grants, for a 3Gen flat in Tampines.
Interested applicants for the current exercise may submit an application online at HDB's InfoWEB from Aug 17 to Aug 23. They can also apply at HDB Hub or any of HDB's branches.
This is the third BTO launch for 2016, bringing the total number of BTO flats offered this year to 12,781 units. Together with the 5,170 balance flats offered in the May exercise, HDB has offered a total of 17.951 flats for sale this year.
Another 5,090 BTO flats in Bedok, Bidadari, Kallang Whampoa and Punggol will be launched in November, while about 5,000 balance flats will also be made available in the concurrent Sale of Balance Flats exercise, HDB said.
- CNA/av
- wong chee tat :)
Posted 17 Aug 2016 10:40 Updated 18 Aug 2016 17:58
SINGAPORE: A total of 4,841 Build-To-Order (BTO) flats were launched on Wednesday (Aug 17), the Housing and Development Board (HDB) announced.
Five new BTO projects were launched - three in the non-mature towns of Hougang, Sembawang and Yishun, and another two projects in the mature town of Tampines, it said in its press release.
The flats are priced from S$79,000, excluding grants, for a two-room Flexi flat in Hougang and Yishun to S$428,000, excluding grants, for a 3Gen flat in Tampines.
Interested applicants for the current exercise may submit an application online at HDB's InfoWEB from Aug 17 to Aug 23. They can also apply at HDB Hub or any of HDB's branches.
This is the third BTO launch for 2016, bringing the total number of BTO flats offered this year to 12,781 units. Together with the 5,170 balance flats offered in the May exercise, HDB has offered a total of 17.951 flats for sale this year.
Another 5,090 BTO flats in Bedok, Bidadari, Kallang Whampoa and Punggol will be launched in November, while about 5,000 balance flats will also be made available in the concurrent Sale of Balance Flats exercise, HDB said.
- CNA/av
- wong chee tat :)
Monday, July 25, 2016
'Too early' to lift property cooling measures: MAS chief
'Too early' to lift property cooling measures: MAS chief
Posted 25 Jul 2016 13:00 Updated 25 Jul 2016 16:46
SINGAPORE: It is "too early" for the Government to consider lifting the property cooling measures currently in place, as it looks to make sure the gains "painstakingly made" are entrenched, said Mr Ravi Menon, the managing director of the Monetary Authority of Singapore (MAS), on Monday (Jul 25).
Speaking at the central bank's annual report briefing, Mr Menon said it is also to make sure the local property market is on a "sustainable path" and that household balance sheets become stronger to "withstand shocks".
Mr Menon's comments reiterated National Development Minister Lawrence Wong's own, which were made during the Committee of Supply debate in Parliament in April. He said that while the cooling measures have been effective in stabilising the property market, relaxing them too early may risk a premature market rebound.
The MAS chief said the contribution to accommodation costs to inflation has come down significantly, while the balance sheets for households show signs of strengthening with the moderating of annual growth in household debt.
He added that the property market has been stabilising over the last two years since its peak in the third quarter of 2013. That said, property prices went up 60 per cent between 2009 to 2013, while nominal incomes increased only 30 per cent during the same period.
"The risk of a renewed surge in property prices is not trivial given that interest rates are likely to remain low and global investors continue to search for yield." said Mr Menon.
"And while the growth in household debt has eased considerably, it will take time for household balance sheets to strengthen and become more resilient to interest rate and income shocks," he added.
The MAS, Ministry of Finance and Ministry of National Development will continue to closely monitor developments in the property market, the MAS chief said.
MAS has introduced several cooling measures since 2013, including raising the rates for Additional Buyer's Stamp Duty (ABSD) and capping the Mortgage Servicing Ratio for housing loans granted for public housing by financial institutions at 30 per cent of a borrower's gross monthly income.
However, there have been voices calling for the lifting of such measures, particularly from developers. The Real Estate Developers' Association of Singapore, for one, said in February that there is a need to ensure a soft landing to prevent further damage to an already fragile local economy.
Property analysts Channel NewsAsia spoke with were divided on the issue. Chief executive of PropNex Realty Mohamad Ismail Gafoor said cooling measures that concern an individual's debt ratio should stay for the long term.
But he said the Additional Buyer's Stamp Duty (ABSD) that Singaporeans and foreigners are subjected to for their second property could be revisited. Foreigners will be subjected to 15 per cent of ABSD for their second property, while Singaporeans will have to pay seven percent.
"15 per cent of a property worth $3 million will come close to half a million dollars, which means people could buy properties in other countries just on ABSD. What is happening is a fair number of Singaporeans, because of the ABSD are buying properties in other parts of the world. We already have a Total Debt Servicing Ratio. Why do we need to penalise Singaporeans for buying a second property within their means and not stretching themselves?"
Mr Ismail said reducing the ABSD from 15 per cent to between five and 10 per cent for foreigners, and doing the same for Singaporeans, would encourage more people to invest in the local property market. This could be a positive sign for developers who have been struggling in recent years,
Century 21 chief executive Ku Swee Yong highlighted Mr Menon's comments on the gap between property prices and income growth, which was about 30 per cent. In the last two and a half years, the gap has dropped by about nine per cent. Mr Ku said the authorities are of the mindset that "there is still some way to go".
He said the government's wait-and-see attitude might also hinge on risks not apparent to observers and analysts: "What they can see would include families that have stretched themselves to buy industrial, retail and office real estate in the last four years, where strata titles - small sized commercial properties - were selling like hotcakes. "
Mr Ku said these loans are classified under commercial property loans and many investors have set up private limited companies to buy such real estate, and take on the loan under their companies.
The recent release of second quarter property figures also showed the number of private residential transactions "suddenly" spiking, as developers slashed prices and offered incentives to buyers. "If the government were to relax policy measures, there would be further encouragement for the market to buy even more," he said.
- CNA/kk
- wong chee tat :)
Posted 25 Jul 2016 13:00 Updated 25 Jul 2016 16:46
SINGAPORE: It is "too early" for the Government to consider lifting the property cooling measures currently in place, as it looks to make sure the gains "painstakingly made" are entrenched, said Mr Ravi Menon, the managing director of the Monetary Authority of Singapore (MAS), on Monday (Jul 25).
Speaking at the central bank's annual report briefing, Mr Menon said it is also to make sure the local property market is on a "sustainable path" and that household balance sheets become stronger to "withstand shocks".
Mr Menon's comments reiterated National Development Minister Lawrence Wong's own, which were made during the Committee of Supply debate in Parliament in April. He said that while the cooling measures have been effective in stabilising the property market, relaxing them too early may risk a premature market rebound.
The MAS chief said the contribution to accommodation costs to inflation has come down significantly, while the balance sheets for households show signs of strengthening with the moderating of annual growth in household debt.
He added that the property market has been stabilising over the last two years since its peak in the third quarter of 2013. That said, property prices went up 60 per cent between 2009 to 2013, while nominal incomes increased only 30 per cent during the same period.
"The risk of a renewed surge in property prices is not trivial given that interest rates are likely to remain low and global investors continue to search for yield." said Mr Menon.
"And while the growth in household debt has eased considerably, it will take time for household balance sheets to strengthen and become more resilient to interest rate and income shocks," he added.
The MAS, Ministry of Finance and Ministry of National Development will continue to closely monitor developments in the property market, the MAS chief said.
MAS has introduced several cooling measures since 2013, including raising the rates for Additional Buyer's Stamp Duty (ABSD) and capping the Mortgage Servicing Ratio for housing loans granted for public housing by financial institutions at 30 per cent of a borrower's gross monthly income.
However, there have been voices calling for the lifting of such measures, particularly from developers. The Real Estate Developers' Association of Singapore, for one, said in February that there is a need to ensure a soft landing to prevent further damage to an already fragile local economy.
Property analysts Channel NewsAsia spoke with were divided on the issue. Chief executive of PropNex Realty Mohamad Ismail Gafoor said cooling measures that concern an individual's debt ratio should stay for the long term.
But he said the Additional Buyer's Stamp Duty (ABSD) that Singaporeans and foreigners are subjected to for their second property could be revisited. Foreigners will be subjected to 15 per cent of ABSD for their second property, while Singaporeans will have to pay seven percent.
"15 per cent of a property worth $3 million will come close to half a million dollars, which means people could buy properties in other countries just on ABSD. What is happening is a fair number of Singaporeans, because of the ABSD are buying properties in other parts of the world. We already have a Total Debt Servicing Ratio. Why do we need to penalise Singaporeans for buying a second property within their means and not stretching themselves?"
Mr Ismail said reducing the ABSD from 15 per cent to between five and 10 per cent for foreigners, and doing the same for Singaporeans, would encourage more people to invest in the local property market. This could be a positive sign for developers who have been struggling in recent years,
Century 21 chief executive Ku Swee Yong highlighted Mr Menon's comments on the gap between property prices and income growth, which was about 30 per cent. In the last two and a half years, the gap has dropped by about nine per cent. Mr Ku said the authorities are of the mindset that "there is still some way to go".
He said the government's wait-and-see attitude might also hinge on risks not apparent to observers and analysts: "What they can see would include families that have stretched themselves to buy industrial, retail and office real estate in the last four years, where strata titles - small sized commercial properties - were selling like hotcakes. "
Mr Ku said these loans are classified under commercial property loans and many investors have set up private limited companies to buy such real estate, and take on the loan under their companies.
The recent release of second quarter property figures also showed the number of private residential transactions "suddenly" spiking, as developers slashed prices and offered incentives to buyers. "If the government were to relax policy measures, there would be further encouragement for the market to buy even more," he said.
- CNA/kk
- wong chee tat :)
Saturday, July 2, 2016
Resale prices for HDB flats up 0.1% in Q2
Resale prices for HDB flats up 0.1% in Q2
Posted 01 Jul 2016 08:53
SINGAPORE: Resale prices of flats is up 0.1 per cent in the second quarter of the year compared to the previous quarter, according to flash estimates from the Housing and Development Board (HDB) released on Friday (Jul 1).
The decline comes after the Resale Price Index (RPI) for the first quarter dipped 0.1 per cent from the previous quarter.
The RPI for the second quarter of 2016 came in at 134.8, down marginally from the previous quarter’s 134.7, the HDB said. The index provides information on the general price movements in the resale public housing market.
The HDB plans to launch about 5,000 Build-To-Order (BTO) flats in August in Hougang, Sembawang, Tampines and Yishun.
- CNA/kk
- wong chee tat ):
Posted 01 Jul 2016 08:53
SINGAPORE: Resale prices of flats is up 0.1 per cent in the second quarter of the year compared to the previous quarter, according to flash estimates from the Housing and Development Board (HDB) released on Friday (Jul 1).
The decline comes after the Resale Price Index (RPI) for the first quarter dipped 0.1 per cent from the previous quarter.
The RPI for the second quarter of 2016 came in at 134.8, down marginally from the previous quarter’s 134.7, the HDB said. The index provides information on the general price movements in the resale public housing market.
The HDB plans to launch about 5,000 Build-To-Order (BTO) flats in August in Hougang, Sembawang, Tampines and Yishun.
- CNA/kk
- wong chee tat ):
Friday, June 10, 2016
Home Loan Rates - DBS
Home Loan Rates - DBS
- wong chee tat :)
Rates are applicable for residential properties (including HDB), quoted on per annum basis and are subject to change without prior notice.
| For purchase of property Fixed Deposit Home Rate (FHR) Floating Rate Package |
Rates
|
|---|---|
| Year 1 | FHR18 + 1.30% |
| Year 2 | FHR18 + 1.30% |
| Year 3 | FHR18 + 1.30% |
| Year 4 and thereafter | FHR18 + 1.30% |
No lock-in period. Fixed Deposit Home Rate (FHR18) refers to the prevailing 18 months Singapore dollar fixed deposit interest rate of DBS Bank for amounts within $1,000 to $9,999 or such other sum as we may specify. The current FHR18 is 0.600% per annum.
| For refinance of property Fixed Deposit Home Rate (FHR) Floating Rate Package |
Rates
|
|---|---|
| Year 1 | FHR18 + 1.30% |
| Year 2 | FHR18 + 1.30% |
| Year 3 | FHR18 + 1.30% |
| Year 4 and thereafter | FHR18 + 1.30% |
No lock-in period. Cash rebate is given for loan amount of $500,000 or more. Fixed Deposit Home Rate (FHR18) refers to the prevailing 18 months Singapore dollar fixed deposit interest rate of DBS Bank for amounts within $1,000 to $9,999 or such other sum as we may specify. The current FHR18 is 0.600% per annum.
| Singapore Interbank Offered Rate (SIBOR) Floating Rate Package |
Rates
|
|---|---|
| Year 1 | 3-month SIBOR + 0.80% |
| Year 2 | 3-month SIBOR + 0.80% |
| Year 3 | 3-month SIBOR + 0.80% |
| Year 4 and thereafter | 3-month SIBOR + 1.25% |
3-month SIBOR refers to the 3-month Singapore Interbank Offered Rate based on the 11a.m. fixing by ABS on the first business day of the month. Click here to view the latest SIBOR rates, under the Rates & Fees tab.
| Fixed Rate Package |
Rates
|
|---|---|
| Year 1 | 1.80% |
| Year 2 | 1.80% |
| Year 3 | 1.80% |
| Year 4 and thereafter | FHR18 + 1.20% |
Comes with a 3-year lock-in period. Fixed Deposit Home Rate (FHR18) refers to the prevailing 18 months Singapore dollar fixed deposit interest rate of DBS Bank for amounts within $1,000 to $9,999 or such other sum as we may specify. The current FHR18 is 0.600% per annum.
- wong chee tat :)
Monday, May 30, 2016
Resale prices of private homes up 0.3% in April: Property index
Resale prices of private homes up 0.3% in April: Property index
Prices of homes in the central region, excluding small units, went up 0.4 per cent from the previous month, according to flash estimates from the Singapore Residential Price Index.
Posted 30 May 2016 14:04 Updated 30 May 2016 18:25
SINGAPORE: Resale prices of private homes rose in April, according to flash estimates from the Singapore Residential Price Index (SRPI) released on Monday (May 30).
The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices rose 0.3 per cent in April from the previous month. It had slid 1.1 per cent month-on-month in March.
Prices of homes in the central region, excluding small units went up 0.4 per cent from the previous month. In the non-central region, prices of homes, excluding small units, rose 0.2 per cent.
Prices of small units, which have a floor area of 506sqf or below, inched up 0.2 per cent in April compared to the previous month.
- CNA/kk
- wong chee tat :)
Prices of homes in the central region, excluding small units, went up 0.4 per cent from the previous month, according to flash estimates from the Singapore Residential Price Index.
Posted 30 May 2016 14:04 Updated 30 May 2016 18:25
SINGAPORE: Resale prices of private homes rose in April, according to flash estimates from the Singapore Residential Price Index (SRPI) released on Monday (May 30).
The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices rose 0.3 per cent in April from the previous month. It had slid 1.1 per cent month-on-month in March.
Prices of homes in the central region, excluding small units went up 0.4 per cent from the previous month. In the non-central region, prices of homes, excluding small units, rose 0.2 per cent.
Prices of small units, which have a floor area of 506sqf or below, inched up 0.2 per cent in April compared to the previous month.
- CNA/kk
- wong chee tat :)
Tuesday, May 24, 2016
Wednesday, May 18, 2016
Number of Applications Received for 2-room Flexi flats, 3 room and bigger flats as at 1 Mar 2016
Number of Applications Received for 2-room Flexi flats, 3 room and bigger flats as at 1 Mar 2016
Number of Applications Received for 2-room Flexi flats as at 1 Mar 2016
| Project | No of Units | Number of Applicants | Application Rate* | ||||
|---|---|---|---|---|---|---|---|
Elderly  | Non-Elderly | Overall | |||||
| First Timers | Second Timers | Singles | |||||
| Non-Mature Towns/Estates | |||||||
| Bukit Batok West Plains @ Bukit Batok | 674 | 1088 | 1.1 | 0.3 | 0.4 | 3.5 | 1.6 |
| Sengkang Anchorvale Plains | 448 | 2570 | 3.1 | 0.7 | 1.2 | 14.0 | 5.7 |
| Mature Town/Estate | |||||||
| Bidadari Alkaff Oasis | 218 | 433 | 3.9 | 0.1 | 6.0 | NA | 2.0 |
| TOTAL | 1340 | 4091 | 2.3 | 0.3 | 0.9 | 7.7 | 3.1 |
Notes
- The Number of Applications Received is as at midnight on 1 Mar 2016. Allocation of flats is subject to prevailing eligibility conditions, availability of flats and Ethnic Integration Policy.
- Application Rates:
Non-mature Estates
2-room Flexi flat: Elderly application rate refers to the number of Elderly applications divided by 40% of the flat supply. First-timer application rate refers to the number of first-timer applications divided by 20% of the non-elderly flat supply. Second-timer application rate refers to the number of second-timer applications divided by 30% of the non-elderly flat supply while first-timer Singles application rate refers to the number of Singles applications received divided by 50% of the non-elderly flat supply.
Mature Estates
2-room Flexi flat: Elderly application rate refers to the number of Elderly applications divided by 40% of the flat supply. First-timer application rate refers to the number of first-timer applications divided by 95% of the non-elderly flat supply, while second-timer application rate refers to the number of second-timer applications divided by 5% of the non-elderly flat supply.
(However, for both non-mature and mature estates, some flats are also set aside for quota-based priority schemes, where HDB does not differentiate between first-timers and second-timers. If there are fewer first-timers than the number of flats set aside for them, the excess flats will be allocated to second-timers.)
Number of Applications Received for 3-room and bigger flats as at 1 Mar 2016
| Project | FlatType | No of Units | Number of Applicants | Application Rate* | ||
|---|---|---|---|---|---|---|
| Non-Elderly | ||||||
| First Timers | Second Timers | Overall | ||||
| Non-Mature Towns/Estates | ||||||
| Bukit Batok West Plains @ Bukit Batok | 3-room | 187 | 377 | 1.5 | 3.2 | 2.0 |
| 4-room | 410 | 931 | 2.2 | 2.8 | 2.3 | |
| 5-room | 384 | 587 | 1.4 | 2.4 | 1.5 | |
| Sengkang Anchorvale Plains | 3-room | 96 | 482 | 3.4 | 9.1 | 5.0 |
| 4-room | 260 | 1267 | 4.5 | 6.9 | 4.9 | |
| 5-room | 117 | 832 | 5.7 | 15.2 | 7.1 | |
| Mature Town/Estate | ||||||
| Bidadari Alkaff Oasis | 3-room | 340 | 441 | 0.7 | 13.5 | 1.3 |
| 4-room | 800 | 4967 | 5.4 | 22.2 | 6.2 | |
| 5-room/3Gen | 236 | 3343 | 9.8 | 103.5 | 14.2 | |
| TOTAL | 2830 | 13227 | 3.9 | 10.8 | 4.7 | |
Notes
- The Number of Applications Received is as at midnight on 1 Mar 2016. Allocation of flats is subject to prevailing eligibility conditions, availability of flats and Ethnic Integration Policy.
- Application Rates:
Non-mature Estates
3-room: First-timer application rate refers to the number of first-timer applications divided by 70% of the flat supply, while second-timer application rate refers to the number of second-timer applications received divided by 30% of the flat supply.
4-/ 5-room: First-timer application rate refers to the number of first-timer applications divided by 85% of the flat supply, while second-timer application rate refers to the number of second-timer applications divided by 15% of the flat supply.
Mature Estates
3- to 5-room: First-timer application rate refers to the number of first-timer applications divided by 95% of the flat supply, while second-timer application rate refers to the number of second-timer applications divided by 5% of the flat supply.
(However, for both non-mature and mature estates, some flats are also set aside for quota-based priority schemes, where HDB does not differentiate between first-timers and second-timers. If there are fewer first-timers than the number of flats set aside for them, the excess flats will be allocated to second-timers.)
- wong chee tat :)
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