Property market news in Singapore

Date Published:
01 February 2012

In a recent cooling measure that has been described as the harshest yet, the government will be imposing an ABSD (Additional Buyer’s Stamp Duty) in addition to the existing tax on property puchases. Foreigners and corporations will be hardest hit, having to pay a ten-percent ABSD on any private homes they buy.

The property market is expected to drop anywhere from one percent to 30 percent over the next two years. A drop of one to two percent is likely over the next couple of months, with prices remaining stable.

Buyers have adopted a wait-and-see attitude and all eyes will be on the post-ABSD stats that come out this month. While some say the ABSD will be catastrophic, driving investors’ costs up, limiting the number of foreign investors and reducing the number of transactions, others believe that its impact will be minimal and that the global financial uncertainty and how Europe and the US cope with their troubles will be the deciding factor.

I think this could be the year for a great bargain, so happy hunting!

Deborah Law

Executive Director,

Expat Realtor

STUNNING CONVENIENCE

$6.2K RENT

District: 11

Size: 1,453 sq. ft.

Bedrooms: 2

Type: Apartment

This new loft-style apartment, with a large balcony off the living room and master bedroom, is perfect for singles or a couple. The second bedroom has been opened up to create a very spacious living room and the open concept master bedroom has a very large balcony with a view of the pool and garden. And it’s just a two minute walk to Novena MRT and shops.

QUALITY IN THE EAST

$11K RENT

District: 15

Size: 4,000 sq. ft.

Bedrooms: 8

Type: Semi-detached

This three-storey home is well built, spacious, has quality finishes and is in a great location. All the rooms are large, the master bedroom nearly double the usual size. Five of the bedrooms have en suite bathrooms. The house has a wet and a dry kitchen, a backyard, a large maid’s room that can accommodate two maids, plenty of storage space and a front patio. It is close to amenities, within walking distance of East Coast Park and has good transport links.

EXCLUSIVE BUNGALOW

$19K RENT

District: 19

Size: 6,000 sq. ft.

Bedrooms: 8

Type: Bungalow

Renovated and in excellent condition; this extremely large bungalow near the Australian School has eight bedrooms, all with en suite bathrooms, walk-in closets, dressing areas and secluded balconies. The large kitchen is perfect for entertaining. The property has a separate garage and a good-sized garden.

EXPAT WOW!

$2,688,000 SALE

District: 16

Size: 3,776 sq. ft.

Bedrooms: 5+1

Type: Terraced house

This three-storey townhouse has been redesigned and renovated to a high standard by expat owners. Its extra-large living and dining room, large private patio and decked rooftop terrace with a whirlpool spa make it perfect for entertaining and relaxing.

The property is a ten-minute drive from the newly opened United World College East Campus, and close to the East Coast Parkway beach connector at Bedok. The house has a 99-year leasehold that started in 1994. It is tenanted until August 2012.

EAST COAST PENTHOUSE

$12K RENT

District: 15

Size: 2,637 sq. ft.

Bedrooms: 4

Type: Condo

The generous balcony of this four-bedroom penthouse has a stunning sea view. It has been thoroughly renovated throughout with polished floors and sanded and re-treated parquet. The condo management has recently upgraded the pool, gym, clubhouse and lounges, too.

Within walking distance of HarbourFront MRT, VivoCity and the Marina at Keppel Bay. Available at the end of January, this unit can be viewed now.

GROUND FLOOR UNIT

$6K RENT

District: 15

Size: 1,561 sq. ft.

Bedrooms: 3

Type: Condo

Grand Duchess at St Patrick has easy access to the nearby PIE and ECP motorways. Situated next to St Patrick’s School, it is a 15-minute drive to the city and ten minutes to Changi Airport.

This three-bedroom ground floor unit is located in one of the most popular residential areas in Singapore. An abundance of natural light comes from the balcony, which overlooks greenery and the swimming pool. It has full condo facilities and is close to a shopping complex, a school, a market, a community club and a park.