Exclusive Living In Singapore
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.
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.
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.
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.
Singapore has been experiencing low inflation rates for quite some time now. Surveys show that July 2016 marked 21 consecutive months for lowering inflation rates and Singapore has recently been experiencing its lowest inflation rate in 30 years. What does this all mean for the economy, businesses, and the average person?
Globalization is the process in which businesses develop international influence and/or start operating on a global scale across international borders. When globalization occurs, it opens up free markets internationally.
Singapore has been experiencing a housing slump for the past 3 years with steady home prices dropping and a real problem for the real estate market. The dwindling equity in its real estate has created some problems for retail rentals, office space rentals, as well as homes.
Since first being conceptualized back in 2010, it has undergone several consultations involving both the local community and stakeholders, but Health City Novena was finally given the official go ahead recently, when it was announced that the 17 hectare project is targeted to be completed by 2030. The first phase is scheduled to be finished by 2020, and maybe even as early as 2018.
Urban Redevelopment Authority (URA) data has shown the highest bid of S$301.2 million for a mixed commercial-cum-residential site in Bukit Batok located in Singapore which has released from the Confirmed List of the Government Land Sales (GLS) in the first half of this year. The bid has come from Chinese developer Qingjian Realty. The site has attracted a strong response from developers by the close of tender yesterday, but the highest bid has come from the Chinese developer.
The domestic and global economic situation continues to be a cause for concern, but there is good news amongst all of the doom and gloom. Yes, Singapore’s economy is having a rough time, and short to midterm projections don’t predict improvements anytime soon, but a recent study has shown that household wealth on the island is increasing, and will continue to increase.