New private home sales slump 20.2% in June

SINGAPORE: Sales of new private homes slumped 20.2 per cent year-on-year in June, according to data released by the Urban Redevelopment Authority (URA) on Monday (Jul 16).

Excluding executive condominiums (ECs), developers sold 654 private homes in June compared with 820 units in the same month last year. This was also a 41.7 per cent decrease from the 1,122 private homes sold in May – a nine-month high fuelled by a deluge of new launches.

Including ECs, 706 units were sold in June, a drop from the 1,259 sold the previous month and 1,064 homes sold in June last year.

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URA proposes 90-day rental cap, 80% consent rule for Airbnb-type accommodation

SINGAPORE: Private apartment and condominium owners who want to rent out their homes for short-term accommodation will be able to do so for 90 days a year provided they fulfil several requirements, including obtaining 80 per cent consent from owners within a development and registering their guests’ details.

These are some of the suggestions the Urban Redevelopment Authority (URA) proposed on Monday (Apr 16) in a regulatory framework for using private homes as short-term accommodation (STA).

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How Singapore’s 50-year-old land sales programme is evolving

Singapore — Have you wondered how the government knows what land to use, and when? And even further back, how did Singapore’s dense and diverse landscape come into being?

Source: http://www.channelnewsasia.com/news/videos/how-singapore-s-50-year-old-land-sales-programme-is-evolving-9496814

Private home prices down for 15th straight quarter; pace of decline eases

SINGAPORE: Private home prices in Singapore fell for the 15th straight quarter in the April to June period, although the pace of decline eased, according to data released by the Urban Redevelopment Authority (URA) on Friday (Jul 28).

Prices fell by 0.1 per cent quarter-on-quarter, compared with the 0.4 per cent decline in the first quarter and the 0.5 per cent decline in the last quarter of 2016.

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Private housing resale market shines as buyers get off sidelines

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TODAY reports: Property cooling measures and loan curbs have made private homes more affordable.

SINGAPORE: After waiting more than one year for an opportune time to purchase a condominium to house his family of three, Mr Amrit took the plunge in early 2015 after coming across a resale unit in his choice location with a “reasonable” price tag.

He had always intended to upgrade to a private home, and when prices for Housing and Development Board (HDB) flats started falling in 2013, he decided to cash out before the value of their four-room flat dipped further.

But instead of immediately upgrading to a private property, Mr Amrit, who is in his 40s, decided to bide his time and rent a place with his wife and teenage daughter while they went about hunting for the ideal home. This came about one year later, in the form of a two-bedroom resale condominium in the Western part of Singapore.

“We heard that prices would fall even more, so we thought we should take our time to look around,” said Mr Amrit, who works in the media industry.

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