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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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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IKEA launches IKEA Place, a new app that allows people to virtually place furniture in their home

IKEA announces the launch of IKEA Place, an augmented reality (AR) application that lets people confidently experience, experiment and share how good design transforms any space, such as a home, office, school or studio. From sofas and armchairs to coffee tables, all of the products in IKEA Place are 3D and true to scale so that every choice is just the right size, design and function.

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UOB, HSBC join mortgage war with 3-year fixed-rate packages

DBS no longer sole provider in three-year fixed-rate space; BOC’s package has varying yearly rates; OCBC conspicuous by its absence

SINGAPORE — Banks in Singapore have started a mortgage war, spurred by the lower interest rate for a longer duration, to the delight of the legions of home buyers who are pouring back to a buoyant residential market.

Last week, both United Overseas Bank (UOB) and HSBC launched three-year fixed-rate home-loan packages which until now had been mainly the preserve of DBS Bank, the nation’s largest housing-loan provider. Bank of China (BOC) also has a three-year fixed-rate package but with varying yearly interest rates.

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Structural walls of HDB flats may leave room for flexible layouts

SINGAPORE — Structural walls in the middle of a Housing Board flat may soon be a thing of the past, allowing home owners to make the most of the space they have.

At Woodleigh Glen, a Build-To- Order (BTO) project in Bidadari ready in 2021, all 1,000 units will have their structural beams and columns tucked to the edges, so that residents can reconfigure the internal space according to their needs.

The HDB will erect walls, but residents can hack these down at their own cost. Currently, most BTO flats have walls that are part of a structural wall, making it difficult to have a larger, open space.

An artist’s impression of Woodleigh Glen, a BTO project in Bidadari, where units will have their structural beams and columns tucked to the edges, so residents can reconfigure the internal space. Such flexi layouts were first seen in Skyville@Dawson, but could soon be standard fare (via straitstimes.com)

For example, newlyweds can start off with a flat layout that gives them a larger bedroom or living room. As their family grows, they can erect a wall to form a nursery.

Such flexi layouts were first seen in Skyville@Dawson, whose residents began collecting their keys two years ago.

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Private home sales continue upward climb in July

SINGAPORE: A total of 1,108 private home units – excluding executive condominiums (ECs) – were sold last month on the back of more project launches, according to the latest figures from the Urban Redevelopment Authority (URA) on Tuesday (Aug 15).

The figure is a 35.1 per cent increase from the 820 units sold in June, which saw stronger-than-expected sales despite it being the school holiday period. Including ECs, property developers sold 2,086 units in July, almost double of June’s 1,064 units.

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Some real estate agents unhappy about PropertyGuru’s impending price hike

SINGAPORE — Local property search portal PropertyGuru’s decision to increase prices for property agents to list on its platform has sparked a backlash among some real estate agents.

A notice sent by PropertyGuru to its subscribers on Monday showed that the prices of its four new agent packages will range from S$880 to S$9,880 per year from Friday (Aug 4).
According to figures publicly available on its website, PropertyGuru has three packages that cost between S$630 and S$2,240 per year. A fourth package, which currently costs S$11,200 per year, is available on its official platform for agents, it said.

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