Month: July 2018

On the evening of 5th July, the government of Singapore announced special measures for the property market. As a result, there was a further decrease in the property and bank stocks.
Soon after this announcement, companies started reducing their trade prices. Few of the companies are mentioned below:

– City Developments experienced a decrease in stock value by 17% and it was traded at S$9.30

– Trades of UOL Group collapsed down by 12.65 percent. Thenew value was S$6.77. This allowed them to recover their previous losses

– Oxley Holdings reduced by 14.63 percent after which the prices shed to 35 Singaporean cents. It was among the heaviest trade as the turnover was of 22.39 million

– CapitaLand was trading at S$3.01 after the reduction of 5.35 percent

– The Real State Agency PropNex took a spill of 13 Singaporean cents and was traded at 56 Singapore cents

– APAC Realty dropped down by 21.15 percent and the price reduced to 61.5 Singapore cents

On Monday, PropNex stepped into the Singapore Exchange holding a per-share IPO price of 65 Singaporean cents.

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Before the new cooling measures came in, it seemed to be an unspoken fact that the prices of private homes were about to increase, no one ever thought that the difference from one month to the other would be so significant.

From April of 2018 and until May of 2018, the prices of private homes increased with 53%. Besides this, the number of homes released in May was also higher than the ones made available in April. In April  homebuyers bought a total of 664 new units, May came with 1,060 more, which means that the increased in the number of new units from one month to the other was of 59.6%. Also, in comparison with the last year, the number of units increased almost three times, considering that in April 2017, only 370 units were launched.

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On the 5th of July, the government of Singapore announced that they will be increasing the rates of Additional Buyer’s Stamp Duty. Moreover, they have also decided to constrict the limits of loan that are applied on property purchases. They are doing all this in order to stabilize their property market by keeping economic fundamentals in mind. The announcement was made after they noticed a massive raise in the prices of private homes.

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The most recent collective sale, for the Kemaman Point development, is now over, as Soilbuild, a successful real estate and construction group, grabbed the development for the price of $143.88 million. There are a total of 89 units in this residential building and each owner of the development expects to receive between $1.4 million and $2.32 million on their units, depending on their type and size, according to Knight Frank, the marketing agent that took care of this collective sale. Also, the same Mr. Frank said that the sum of $1,173 representing a square foot per plot ration of this development reflects the permissions for redeveloping the area, which can have up to 122,711 square feet at most.

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The rainbow coloured public housing estate in Singapore popularly known Rochor Centre will soon disappear from the cityscape. Demolition of this centre began in the morning hours of June 26 and is expected to take around ten months to be torn down floor by floor. The day witnessed heavy rainstorm bit it was not enough to stop the former residents turning up to the location to see their home of memories bowing down in the name of infrastructure development.

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In this world where everyone is in the race of getting ahead from one another, every market, including the business market, is facing immense competition. Businessmen from all over the world are in this battle of getting ahead ofeach other in order to create a name in the market and earn more profits.

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Areas along MacPherson are going to be redeveloped under the Selective En bloc Redevelopment Scheme, also known as SERS. It is operated by the HDB (the public housing of Singapore – Housing Development Board) for maintaining and upgrading public housing units in older areas of Singapore.

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