HDB resale flat prices grow at slower pace in Q1 on higher inventory, price resistance
PRICES of resale flats in the first quarter of 2023 inched up 1 per cent from Q4 2022 – the smallest quarterly increase compared with the previous 10 quarters.
Real Estate News
Singapore central office rents rise further in Q1 2023, up 5.1%: URA
OFFICE rents in Singapore’s central region continued rising in the first quarter of this year, as pipeline supply shrank, data released by the Urban Redevelopment Authority (URA) indicated.
ABSD shock seen hitting prime housing market hardest, could drive away foreign investors
VIEWS are mixed on the direction of private home prices following the latest market cooling measures, but the impact on demand and hence prices will be felt most acutely in the Core Central Region (CCR) or prime areas, property consultants said.
US pending home sales fall 5.2%, biggest drop since September
US pending home sales fell last month by the most since September, suggesting the housing market isn’t totally out of the woods yet.
CDL’s Newport Residences preview postponed as developers take stock of ABSD hikes
CITY Developments Ltd (CDL) has pushed back the launch of its prime downtown project Newport Residences, which sits in the prime residential segment that analysts have said will take a direct hit from latest government cooling measures.
Singapore’s 60% property tax makes London, New York look cheap
SINGAPORE has the highest property tax rate for foreign buyers among major global markets after the city-state doubled the duty on Thursday (Apr 27).
Private home prices look set for a welcome correction amid higher ABSD rates
IS THERE a crazy rich foreigner who will pay 60 per cent Additional Buyer’s Stamp Duty (ABSD) to buy a home in safe haven Singapore? It will take about 12 years of price growth at 4 per cent per annum just to recoup the ABSD payable.
China Evergrande’s unit faces heat for not publishing 2021 annual report
CHINA Evergrande Group said on Tuesday (Apr 25) that its Hengda Real Estate Group unit and a company director were facing sanctions from stock exchanges for failing to publish its 2021 annual report.
US new home sales rise more than expected in March
NEW home sales in the United States grew more than anticipated in March, the Commerce Department said on Tuesday (Apr 25), as a lack of existing homes continued bolstering demand in the market for new properties.