Amid a slowdown in overall demand for new private homes in Singapore in 2023, sales in the prime district have remained robust. Factors contributing to this trend include a lack of new launches in the prime district, narrowing price gaps compared to other regions, and the appeal of prime district properties for high-net-worth individuals. Key […]
Private home prices in Singapore continued to show a moderation in growth, increasing by 6.7% in 2023, compared to a growth rate of 8.6% in 2022. The property market experienced a slowdown in transaction volumes, with the number of units sold in 2023 decreasing by approximately 15% from the previous year. Despite the moderation, suburban […]
Amid a slowdown in overall demand for new private homes in Singapore in 2023, sales in the prime district have remained robust. Factors contributing to this trend include a lack of new launches in the prime district, narrowing price gaps compared to other regions, and the appeal of prime district properties for high-net-worth individuals. Key […]
Urban planning authorities are considering the conservation of People’s Park Complex, Southeast Asia’s first multi-use complex built in the 1970s. The Urban Redevelopment Authority (URA) has informed the property’s management corporation that it assessed the building to be of high heritage significance. While heritage groups welcome the move, it may impact the second collective sale […]
The US Federal Reserve opted to keep interest rates steady and indicated a shift in its monetary policy, signaling the end of the historic tightening implemented over the past two years. The decision was accompanied by new economic projections, highlighting the expectation of lower borrowing costs in 2024. Key Points: The Federal Reserve’s decision and […]
The Ministry of Finance (MOF) and Inland Revenue Authority of Singapore (Iras) have announced a one-off property tax rebate for owner-occupied homes in response to the anticipated increase in property taxes. The rebate, ranging from 100 percent for small public flats to 15 percent for private properties, aims to mitigate the impact of higher property […]
Gardens by the Bay is set to introduce a new “experiential” attraction within the next three years, aiming to provide visitors with a unique experience of the Kingfisher Wetlands, a 1.5-hectare area filled with mangrove plants. The proposed attraction may incorporate augmented and virtual reality elements, according to Felix Loh, the CEO of Gardens by […]
In a significant move, public housing flats will be launched in the Pearl’s Hill area near Chinatown for the first time in 40 years. This initiative is part of the government’s broader plan to diversify housing types in central locations and breathe new life into the city center, creating vibrant mixed-use districts. The objective is […]
An indirect wholly-owned subsidiary of Genting Singapore has been granted provisional approval by the Urban Redevelopment Authority (URA) to develop 21,243 square meters of gross floor area (GFA) for retail space and 700 hotel rooms at Resorts World Sentosa (RWS). The retail space equates to 228,658 square feet. This development is part of Genting Singapore’s […]
In a successful collective sale, Shenton House, located in Singapore’s Central Business District, has been sold for S$538 million. The buyer, Shenton 101 Pte Ltd, is owned by Lee Yeow Seng, the Group CEO of IOI Properties Group (IOIPG), a listed company on Bursa Malaysia Securities. Lee participated in the acquisition in his personal capacity […]
