Hongbaos and taxes: 8 things you need to know about Budget 2018

SINGAPORE: Finance Minister Heng Swee Keat ended his 2018 Budget speech on a “prosperous” note with the handing out of a one-off SG Bonus to Singaporeans, but he also warned of coming tax hikes that are needed to finance the country’s greater spending in the next decade.

How will Singaporeans and Singapore businesses be affected by the measures Mr Heng announced on Monday (Feb 19)?

Here is Channel NewsAsia’s quick guide to the major Budget announcements:

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Budget 2018: Proximity Housing Grant enhanced, more singles eligible

Singapore — The Government will enhance the Proximity Housing Grant (PHG) to give more support to family members who want to live with or near each other, Finance Minister Heng Swee Keat announced in his Budget speech.

Source: channelnewsasia.com

 

GIC steps up investment in real estate

Singapore — The Singapore sovereign wealth fund is expected to invest more in real estate going forward as the returns are higher than other fixed income assets such as government bonds, experts say.

Source: channelnewsasia.com

 

 

More than 4,300 new flats launched in first HDB sales exercise of 2018

SINGAPORE: A total of 4,381 new flats were launched for sale in the Housing and Development Board’s (HDB) first sales exercise for the year.

The flats include 3,664 Build-to-Order (BTO) units and another 717 units under the Re-offer of Balance Flats exercise, HDB said in a press release on Tuesday (Feb 6).

The BTO flats will be spread across two projects in Choa Chu Kang and Woodlands, and another three projects in Geylang and Tampines.

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Private home sales rise 17.4% year-on-year in December

Singapore — Sales of new private homes rose 17.4 per cent in December 2017 compared to the same month a year ago, according to data released by the Urban Redevelopment Authority (URA) on Monday (Jan 15).

Excluding executive condominiums (ECs), developers sold 431 units last month, compared with 367 units in December 2016.

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Singapore’s collective sales could ‘fuel the market’ in 2018

Singapore — Singapore’s property market could see a strong 2018 among Asia markets as collective, or en bloc, sales bring redevelopment, says Nicholas Holt of Knight Frank.

Source : https://www.cnbc.com/video/2018/01/03/singapores-collective-sales-could-fuel-the-market-in-2018.html