Private home prices up 0.7% in Q3, first rise in nearly 4 years: URA

SINGAPORE: Signalling the upturn of the property market, private home prices in Singapore went up 0.7 per cent in the third quarter, rising for the first time in nearly four years, according to latest figures from the Urban Redevelopment Authority (URA) on Friday (Oct 27).

The rebound compares with a 0.1 per cent decline between April and June, and is also better than the 0.5 per cent estimate flashed by URA earlier this month.

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Singapore’s Property Market: Is 2018 The Right Time To Start Investing In Private Properties Again?

Investing in Singapore’s property market doesn’t necessarily mean you have to own a condominium unit. (via dollarsandsense.sg)

By Timothy Ho, via dollarsandsense.sg

SINGAPORE — URA reported that the private residential property index for 3Q2017 have increased by 0.5 per cent. This is the first time an increase has been seen, after 15 straight quarters, or close to four years, of decline.

Having endured a lacklustre market for four years, there is finally good news for property experts and real estate developers to get excited about. But should you, as a retail investor, be looking to jump back in to the market now that sentiments are slowly starting to pick up?

Of course, this is the million-dollar question on everyone’s mind. Should we buy a private property now in the hopes that we can strike it rich when the market takes off, or do we risk missing out on the cycle?

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For Sale – 254 Pasir Ris Street 21 (HDB, 5Rm Improved)

Looking for a dream house? This 5-Room HDB flat is a great family home with updated features. Located in a desirable neighbourhood, you’ll find yourself walking distance to amenities. Spacious, inviting, and reasonably priced. This immaculate home is your retreat from the modern world.

The 254 Pasir Ris Street 21. Welcome to your new home.

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Shorter, streamlined process for HDB resale transactions from next year

The new HDB Resale Portal to be launched next year aims to shorten the resale transaction process by up to eight weeks, down from the current 16 weeks.

SINGAPORE: The Housing and Development Board (HDB) will launch a new resale portal to reduce the transaction time for buying and selling HDB flats, it announced on Thursday (Oct 19).

The HDB Resale Portal will be launched in January next year to process new resale applications. It aims to cut the time taken to complete a resale transaction by up to half the 16 weeks currently required.

Minister for National Development Lawrence Wong had earlier announced in this year’s Committee of Supply debate that his ministry will leverage technology to streamline the transaction process for resale flats.

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99-year HDB Flats – 5 Things Singaporeans Should Recognise About Them

By Joanne Poh, via moneysmart.sg

SINGAPORE — Pool together all your resources, buy a home, and become an overnight millionaire by selling it off years later—that is, in a nutshell, the Singaporean dream.

The promise of your flat funding your retirement is no doubt a key motivator to those who empty their CPF accounts and sign up for massive loans to buy a home.

That all sounds reasonable enough, until you realise that most residential property in Singapore is on a 99-year lease.

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