A whopping 265,000 applicants jostle 1,840 dream homes in Johor Baru

It is definitely good news to many people who can now own their own homes at a mere fraction of the current market price, thanks to a popular housing scheme coming up in Johor Baru. This pilot housing project has been highly successful in triggering an awesome response.

The project opened its doors for registration on Wednesday, after it was officially launched by none other than the Johor Sultan himself. With a total of1, 840 properties as well as apartments available, the highly popular Bangsa Johor Dream Home Project had attracted over 265,000 applicants by yesterday noon.

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Government Plan To Fix The Stamp Duty Loophole

The Singapore Government has recently announced its plan to make legislative changes in order to patch up the controversial loophole in the law, which has led to property developers taking advantage of the system to avoid paying usual stamp duty charges. Minster For National Development, Lawrence Wong, announced this proposal to Parliament on March 7 2017.

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Solar Energy Industry – The next growing industry in Singapore ?

The government of industry offers an excellent assistance to the Research & Development activities that take place in the country. As a result, a variety of industries bloomed during the past couple of years. Solar energy industry holds a prominent place out of them.

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Cooling Off Measures Finally Eased

After continued speculation, the Government has announced that they are easing back on the cooling off measures they introduced to keep the property market in check. Though it has been thought such a move was overdue, the fact it wasn’t mentioned in last month’s budget meant it has taken many in the industry by surprise. In a joint announcement made by the Ministry of National Development, the Ministry of Finance and the Monetary Authority of Singapore they stated there would be several changes to legislation for properties bought from March 11th onwards. These changes are:

• Seller’s Stamp Duty (SSD) will not apply if the owner sells the property more than three years after the date of purchase (down from 4 years previously).

• The SSD rates themselves are also being lowered by 4%. Any properties purchased on or after 11th March will be liable to 12% SSD if sold in the first year; 8% in the second, and 4% in the third.

• Further loosening of the TDSR rules was also announced meaning that the TDSR framework will no longer be applied to mortgage equity withdrawal loans where the loan to value ratio is 50% or below, a reduction from the 60% level previously.

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Prefabricated Prefinished Volumetric Construction (PPVC) – a Good or Bad Thing?

PPVC is a hot topic at the moment and depending on who you speak to it is destined to either save the Singapore property industry or destroy it. So what is it, and why is it causing such debate?

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Bukit Batok

With a population of almost 150,000 and straddling an area of a little over 4 square miles, Bukit Batok is ranked as the 25^th largest region by area, and the 12^th highest populated region in Singapore. Its location on the eastern edge of the nation’s West Region, means it is ideally located for those looking for a place to live slightly away from the main heart of Singapore, but still close enough to commute. It has very much its own identity and character however, and provides residents with a rich variety of leisure, education, retail and dining options.

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HDB Loans versus Bank Loans – Which is the Better Deal?

As well as all the traditional methods of getting a home loan, the HDB Loan further muddies the waters. They may not be for everyone (actually, the tight restrictions ensure that they certainly aren’t), but they do provide a genuine option, and it is definitely worth seeing if they are ideal for your circumstances.

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An interesting price game of developers to increase sales of new private homes

The sales growth pattern that has been reported by the executive condo (EC) have shown a spectacular sales rate. Developers are succeeded to sell out 8136 of the private homes in the last years which make it up to 9.4 percent of the sales that had been done in the previous years. The numbers by the government have clearly shown that the developer has finally found the buyers for 4018 EC units. However, the key factor that has been considered as a key behind it is the prices that have been mentioned by the developers. This price is the major reason behind the increase of market sales at ECs. ECs are the hybrid housing schemes. The sales figure of 2016 is based on the sales figures of December provided by the developers.

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Enhanced CPF Housing Grants

The Minister for Finance announced that the CPF Housing Grant for first-timer families and singles would be changing in the coming year. The Government have introduced plans to increase Central Provident Fund (CPF) Housing Grants for first time property buyers purchasing HDB homes from the resale market. Families looking to buy their first home will be entitled to an increase from $30,000 to $50,000 in CPF Housing Grants for 4-room or smaller flats and to a total of $40,000 if the family were planning to buy a 5-room or larger resale flat. In combination with the additional CPF Housing Grant and Proximity Housing Grant, young families were previously entitled to up to $90,000 in subsidies but can now they can receive up to $110,000 in subsidies with the enhanced CPF Grants that are coming into effect, depending on the flat’s location, flat type and personal income.

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Demand for Condo in the West sparks sales at The Clement Canopy

The Clement Canopy is the first new launch condo project to be introduced to the market in 2017 and due to its stunning greenery, modest pricing structure and prime location near to Singapore’s education hub, Jurong Lake District and One-north, it is already a popular venture for buyers. There has been a strong interest in the new property and the launch has been very successful with crowds of more than 5,000 people coming to view the demonstrative showflat and purchase various units over the course of two days. It has been particularly popular with owner-occupiers and investors and 195 units in Clement Canopy were sold on the first week of the property’s launch.

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Quick Guide to Fixed & Floating Rates, and SIBOR & SOR

When buying a home or property for investment, choosing the right location and development is not the end of the decisions you will have to make. Deciding on the mortgage deal that is best for you and your circumstances can often be as difficult and complex as finding a home itself. Here we take you through the different terms, options and the pros and cons of each.

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Does Singapore Need to Re-evaluate its Property Tax?

Falling home prices have been a concern since 2013 which led investors, both domestic and foreign alike, into urging the government to re-evaluate its property tax regulations. However, the total number of real estate transactions has been rising over the past 3 years which has resulted in optimism about a stable real estate market but has also led some people into thinking real estate curbs are no longer necessary.

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CPF – What it is, and the Pros and Cons of the SA

The advantages and disadvantages of the CPF (Central Provident Fund) is a debate that’s been raging since it was introduced in 1955. As has the best ways to manage your money in the fund and whether it’s best to transfer funds into the Special Account as opposed to having it sat in the Ordinary Account. Here we take an impartial look at exactly what the CPF is, and the pros and cons of moving your money across.

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West Coast Vale Site is Sold

The West Coast Vale land parcel site, conveniently located next to the West Coast Highway and Ayer Rajah Expressway and boasting beautiful water views of the Sungei Pandam River, recently sold to China Construction Development for a total of $292 million. The second closest bid was not much lower at $289.9 million by MCC Land.

The Urban Redevelopment Authority released this residential site for sale to nine hopeful developers who put in bids for the parcel of land. The interest ran high and the piece of real estate went through a fierce bidding cycle. In the end, the land parcel sold for $292 million which equated to $592 per square feet. The final price was at the upper end of the expected sale range which was anywhere between $450 to 600 per square feet.

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The rise in the sales of new private homes

A high percentage of private home sales has been noticed in 2016 as the market prices as a whole fell. A lot of new buyers has taken advantage of the falling price trend in the market. It has been noticed that the developers were succeeded in selling out 8136 of new units in the last year. If compared to the rates of 2015, the selling increased by 9.4 percent in 2016 i.e. total 7440 units was sold last year and 8136 are sold this year. Although the number specified does not include the new executive condominiums (ECs). If we talk about the sales of last year i.e. 2015, they were quite high as compared to the sales of 2014.

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