Our top Singapore property stories.
New Zealand: We Don’t Want Foreign Buyers — Except Singaporeans?
The New Zealand government recently announced that Singapore will be a “carve-out” nation, granting citizens in the Southeast Asian city-state the right to buy property in the archipelago, Stuff reported.
Singapore nationals will join Australians and certain types of visa holders in an exemption from a controversial bill seeking to ban sales in the Kiwi residential property market to foreigners.
Deputy Prime Minister Winston Peters noted that New Zealand has a side-letter agreement with Singapore if denizens from the latter begin buying homes at such significant quantities. Read more
Singapore Private Home Prices May Surge 20% This Year: Savills
Property consultancy Savills reckons that private home prices here may rise 15 to 20 percent for the whole of 2018 – up from its previous forecast of between 12 and 15 percent, reported Singapore Business Review.
It raised its estimates after 22 units were sold for a minimum of $10 million each over the past few months, with 102 units taken-up for at least $3,000 psf in Q1, according to data from the Urban Redevelopment Authority.
Moreover, the island-wide private home price index increased 3.9 percent quarter-on-quarter in Q1. This is the highest growth in nearly eight years since Q2 2010, following lower quarterly gains of 0.7 percent and 0.8 percent in the third and fourth quarters of 2017 respectively. Read more
Queenstown HDB Flat Sold For $1.1m, Setting New Record For 5-Room Flats Outside Pinnacle @ Duxton
An HDB resale flat at Holland Drive in Queenstown has been sold for a sky-high price of $1.1 million in June, setting a new record for the most expensive 5-room unit sold outside the iconic Pinnacle @ Duxton housing project.
The record also excludes executive flats which are bigger, and Design, Build and Sell Scheme flats developed and sold by private developers.
Data from the Housing Board website shows that the 1,259 sq ft flat is located in Block 18C between the 37th and 39th floors. It has a remaining lease of 93 years. Read more
3 Residential Sites Yielding 1,880 Homes Released For Sale
Three residential sites that could yield a total of 1,880 housing units were released for sale by the Urban Redevelopment Authority (URA) and Housing and Development Board (HDB) on 31 May under the Government Land Sales (GLS) Programme for the first half of 2018.
Among them is a confirmed list site at Dairy Farm Road in District 23 intended for private housing with first storey commercial premises.
Spanning 211,483.93 sq ft, the 99-year leasehold site has a gross floor area (GFA) of 444,118.94 sq ft. The tender exercise for the land parcel, which comes with a height restriction of up to six storeys, will close on 4 September. Read more