In light of the recent events, the number of sales for HDB flats and private apartments may have reached its bottom in June during the period of the circuit breaker but, rents continued to go down further. This data has been put forward by market observers as a rejoinder to the flash data revealed by Singapore property portal SRX Property.

According to the report, the total volume of private residential properties that belong to the non-landed category handed out on lease witnessed a proliferation of 1%; that is, its numbers escalated from 2,853 units in April to 2,881 units in May. Coming to the rental volume of the private flats in concern, it was still 45.7% lesser than what it was a year ago and 38.8% lower when compared to the five-year average volume for the same month.
As far as the HDB rental market is concerned, the number of leased flats tumbled by 4.2% to 1,147 in May from 1,197 in April. When contrasted against the figures of 2019, the rental volumes for HDB flats fell by approximately 45.1% this year and dropped by 42% corresponding to the 5-year average volume for the month of May.

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Interest rates at the bank have fallen to the lowest level as compared to the trend in recent years, and with this, more people are looking for mortgage refinancing opportunities.

Banks in Singapore have lowered their loan interest rates, especially that are attached to the Singapore interbank offered rate (Sibor). With this initiative, homeowners can secure their mortgages are more favourable rates.
Note that Sibor is a standard term used for the rate at which banks keep on borrowing from one another. But as coronavirus pandemic has disturbed the economy activities all over the world, this rate is now trending down for the next few months.

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Singapore agrees at Malaysia’s request for the deadline extension

Singapore has finally agreed over the suspension request of HSR (high-speed rail) project for another seven month’s duration. This project is expected to link Kuala Lumpur via high-speed rail line to reduce the overall travel time for people.

As per a recent Facebook post made by Mr Khaw Boon Wan, the Transport Minister of Singapore. The Senior Minister from Malaysia, Azmin Ali, had written to him to discuss regarding proposed extension-related changes for the respective project. He also added that a reliable agreement is necessary to carry out any project between two countries, and this extended suspension will help them to access the changing mindset of Malaysia. Following the bilateral cooperation, Singapore has now decided to suspend the final extension up to 31^st December 2020.

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Singaporeans love to buy properties rather than keeping money in banks. In the current era, banks are offering near-zero interest rates. Therefore, the better choice for Singapore investors is to own units in a trust that passes 90 percent of rental income. Banks are not so beneficial during this time.

REIT (real estate investment trust) is one of the most beneficial trusts that you will come across in Singapore. People are investing in real estate investment trust, causing a change in the Singapore Exchange rate. The question that arises is whether Remit has taken it too far?

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April 2020 witnessed a new low, the sales of new private homes tumbled to a 5 year low. And, the month of May is predicted to be a total bummer as new launches are postponed and show-flat galleries remain closed on account of the circuit breaker extension.

April 2020 recorded sales of only 277 private homes, the month witnessed a down by 58 percent from 660 homes sold in March. And, in comparison with the sales recorded in April 2019, the sale faced a down by 62.4 percent as the real-estate market was stagnant this year. It is after 5 years, the real estate market has experienced a significant low. In December 2014, only 230 units of private homes were sold, and the all-time low was recorded in Jan 2009 when only 108 units of private homes were sold.

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