James Quek

31/07/2023

Resale prices of public housing in Singapore increased by 1.5% in the second quarter of 2023, according to data from the Housing and Development Board (HDB).

While this growth is slightly lower than the average quarterly increase of 2.5% in 2022, it suggests that the prices may have reached their peak.

The moderation in price growth is attributed to measures aimed at reducing demand and promoting responsible borrowing.

These include a 15-month wait-out period for private property owners and a reduction in the loan-to-value limit for HDB housing loans.

As a result, more buyers are turning their attention to the Build-to-Order (BTO) market, which is expected to see an influx of 16,000 flats entering the resale market this year.

This increased supply will provide buyers with more options and alleviate pressure to meet the high asking prices of current sellers.

In your opinion, do you think the prices of Resale HDB has peaked?

20/07/2023

Foreigners must get approval to buy ‘commercial and residential’ land, properties in S’pore.

Summary:

- Foreigners must obtain government approval to purchase land zoned as "commercial and residential."

- The change is a result of amendments to the Residential Property Act (RPA) to protect residential land for Singaporeans.

- Land zoned as "commercial and residential" will now be considered residential property and regulated under the RPA.

- Examples of "commercial and residential" properties include shopping centres, hotels, offices, and residential properties like Robertson Walk and UE Square.

- Existing owners of land or property in this zone can retain it without seeking approval, but need approval for redevelopment.

- There are exemptions for foreign buyers who were granted the option-to-purchase (OTP) before July 20, 2023, and exercise it before August 9.

- The Schedule of Non-Residential Properties under the RPA is also being updated to include seven new land-use zones as residential uses are usually not allowed.

Source:

Developments on land zoned for “commercial and residential” use will now be deemed residential property Read more at straitstimes.com.

19/07/2023

Visited a unit at Cape Royale today that comes with a breathtaking sea view!

Step into a world of luxury and tranquility at Cape Royale, where your dream of a coastal haven comes to life. This exquisite 4-bedroom residence offers unparalleled views of Lazarus Island, St. John Island, and Sisters' Island.

Imagine waking up to the gentle sound of waves crashing against the shore, as you soak in the panoramic vistas from the comfort of your spacious balcony. The generous outdoor space provides the ideal setting for unforgettable alfresco dining experiences, allowing you to savor delectable meals while basking in the refreshing sea breeze 🥰

14/07/2023

Summary:

- Six Build-To-Order (BTO) projects with 5,000 homes in Mount Pleasant estate

- Heritage elements from Old Police Academy and pre-war bungalows to be integrated

- Surrounding greenery to be preserved

- Estate close to Bukit Brown and Central Catchment Nature Reserve.

- Heritage consultant appointed to salvage and reuse old elements

- Possibility of incorporating old drill shed into new estate

13/07/2023

Summary:

Total sales value of prime
non-landed residential property in
Singapore fell to $$1.1 billion in
H1 2023

23% decline in total sales value
compared to H2 2022
Only 126 luxury non-landed
homes sold in H1 2023, compared
to 163 in H2 2022

Additional Buyer's Stamp Duty
contributed to lower transaction
numbers

Average price per square foot rose
4.7% to $82,580 in H1 2023 from
$82,464 in H2 2022.

Prime non-landed residential
homes defined as units with a floor
area of 2,500 sq ft or more in
specific districts.

Article: https://www.businesstimes.com.sg/property/singapore-prime-non-landed-home-sales-ease-s11-billion-h1-2023 #:~:text=THE%20total%20sales%20value%20of,real%20estate%20consultancy%20Knight%20Frank.

12/07/2023

I am so blessed and thankful to my clients who had given me this opportunity to handle 2 of their properties and referred me another HDB sale in Bishan! ☺️🙏👍🏻

If you have any property related query, feel free to reach out to me! 😄



James Quek
wa.me/6583389268

12/07/2023

2 mins Walk to MRT?✅

Superb Unblocked View?✅

Within 1 km to Good School?✅

Ring me today for more details!

James Quek

wa.me/6583389268