Singapore — In a bid to reduce the strain new developments pose on local infrastructure, the authorities have moved to ensure that there will be fewer shoebox units offered in new private non-landed residential buildings outside the Central area.
The Urban Redevelopment Authority (URA) revised guidelines for such properties on Wednesday (Oct 17), making several changes that it said also aim to moderate the reduction in home sizes and “safeguard the liveability” of residential estates. It has observed smaller unit sizes in new private housing projects.
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.
SINGAPORE: Private home prices rose 3.4 per cent in the second quarter of this year, according to the latest figures from the Urban Redevelopment Authority (URA) on Friday (Jul 27).
This continues a rising trend in the last three consecutive quarters, with prices rising 3.9 per cent in the first quarter of this year, 0.8 per cent in the preceding quarter and 0.7 per cent in the third quarter of last year.
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.
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).
SINGAPORE: Continuing an upward trend in the property market, private home prices in Singapore rose 3.1 per cent in the first quarter of 2018, according to flash estimates released on Monday (Apr 2) by the Urban Redevelopment Authority (URA).
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?