Fed interest rate hike likely to lead to higher borrowing costs in Singapore

Singapore — The latest interest rate hike by the US Federal Reserve is expected to lead to higher borrowing costs in Singapore, according to analysts.

Source: channelnewsasia.com

 

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Safe as houses? The property investment story so far

By Kalpana Rashiwala, via businesstimes.com.sg

It is in the collective consciousness of Singaporeans that owning property is a big part of being – and getting – rich. For many families in Singapore, investing in property has proven to be a good way to preserve, if not enhance, their wealth and to build up a retirement nest egg. Veteran property consultant Tan Tiong Cheng, president of Knight Frank Asia Pacific, recalls that in the early 1970s, one could buy a freehold terrace house in the Siglap area for about S$25,000 to S$30,000; today you’d pay S$2.7 million to S$3 million for one. Similarly, a semi-detached house in the vicinity would have cost in the ballpark of S$35,000 to S$40,000 back then; today’s prices are S$4 million to S$4.5 million. “So in both cases, prices today are about 100 times what they were nearly five decades ago,” he said.

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Property stocks slump after announcement of new cooling measures

Singapore — Property stocks in Singapore came under heavy selling in early trade on Friday (Jul 6), as investors reacted to surprise news of fresh cooling measures announced a day earlier.

In an effort to “cool the property market and keep price increases in line with economic fundamentals”, the Government said on Thursday evening that it would raise the Additional Buyer’s Stamp Duty (ABSD) rates and tighten loan-to-value (LTV) limits on residential property purchases.

The new rates take effect on Friday.

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Higher ABSD rates for second homes among new cooling measures

SINGAPORE: The Government announced on Thursday (Jul 5) that it is raising Additional Buyer Stamp Duty (ABSD) rates and tightening loan-to-value (LTV) limits on residential property purchases, in an effort to “cool the property market and keep price increases in line with economic fundamentals”.

The move comes several days after official data showed that private home prices had risen to its highest point in four years in the April to June quarter, with analysts predicting that prices could soon recover to 2013 peak levels.

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Here’s How Singaporeans Can Better Plan Their Finances When It Comes to Their Homes

Singapore — Owning a home that you can call your own is certainly exciting, but it is also one of the biggest purchases you will probably make in your lifetime. What’s more important to bear in mind, however, is that it’s not a journey that ends the moment you get your house keys.

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Single Parent in Singapore – Guide to Grants, Subsidies And Financial Assistance

By Joanne Poh, via moneysmart.sg

Singapore’s laws remain depressingly old-fashioned when it comes to certain things. And nowhere is this clearer than in the way single parents are penalised. It’s almost as if it’s your fault for being a single parent.

While a lot has been done to make parenthood less financially taxing such as the Baby Bonus and HDB subsidies, single parents are often left out in the cold and denied the same degree of support.

This despite the fact that it is often precisely single parents who need help most in the absence of a spouse to share the physical, emotional and financial burden of raising a child.

If you or someone you know is on the brink of single parenthood, this guide will help you to see at a glance which grants, subsidies and financial assistance you qualify for.

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