New Home Sales Transactions at Record High Despite SIngapore Government Cooling Measures

Sales of Singapore new homes high hit 2,793 in March 2013, surpassing the previous benchmark in July 2009.

2013-04-24

SINGAPORE, April 24, 2013 (Press-News.org) Singapore new home sales at record high of 2,793 units, overtaking the previous bench of 2,772 units set in July 2009. 1814 units were from suburban while 822 units were from city or city fringe. This is despite the cooling measures implemented in January 2013.

Some of the top-selling projects are Dnest, Sennett Residence, Urban Vista, Bartley Ridge and Hillion Residences as property developers gave more incentives and discounts to assist buyers offset their Additional Buyer Stamp Duty (ABSD).

On the other hand, February 2013 new home sales only transacted at 712 units. This could probably be due to the after cooling effect set by Singapore Government to curb the property market to ensure a sustainable growth in the long run.

Other possible reasons that adds on to the slow sales in February could be due the holiday period where most people will be travelling. Developers too are holding back the launches due to the cooling measure and the holiday season.

With the 7th cooling measure in place, Singaporean has to pay an "Additional Buyer Stamp Duty (ABSD)" of 7% on their 2nd property and 10% on their 3rd and more property. Permanent residents (PR) have to pay 5% on their first property and 10% on their 2nd and 3rd properties. Foreigners have to pay 15% on their property purchase, whether 1st, 2nd or 3rd property.

Seller Stamp Duty (SSD) has previously only been imposed on residential property. After the cooling measure, it will also be applied to industrial property sold within 3 years from purchase. 15% on the first year, 10% on the second year, 5% on the third year.

The strong pick up rates from February to March probably prove that the underlying demand remains strong and those developments that are priced competitively with good location will continue to score well.

Some of the upcoming property launches from May 2013 include The Flow @ East Coast, HallMark Residences, KAP & KAP Residences, The Midtown & Midtown Residences, Ferra @ Leonie Hill, Cluny Park Residence, Whitehaven @ pasir panjang and The Siena @ Farrer.

The Flow @ East Coast will be replacing the previous GRTH building at 66 East Coast Road. This new development has 56 units of commercial clinic, shops, restaurant and food court. Oxley Holdings bought this development for 76.1 million or $1,298 psf ppr.

Whitehaven @ Pasir Panjang will be replacing the previous Westvale Condominium at 334 pasir panjang. Whitehaven has 120 residential of 1 to 4 bedrooms, lofts and also penthouses. Roxy Pacific bought the Westvale condominium for 77.5 million or about $883 per square foot per plot ratio (psf ppr).

Hallmark Residences will be replacing the previous Nob Hill Condominium at 21 Ewe Boon road. MCL Land bought the Nob Hill Condominium and together with 2 adjoining bungalows for 95 million or 1,100 per square foot. Hallmark Residences has 75 units of 2 bedrooms to 4 bedrooms and penthouse.

As we going into the 3rd quarter of 2013, Singapore private property market is expected to stay subdued with sales volume expected to remain healthy as developers continue to offer competitive prices to assist potential buyers to offset the hefty Additional Buyer Stamp Duty.

Do visit New Launch Singapore for latest project updates.

New Launch Singapore specializes on property launches in Singapore that include residential, commercial and industrial. Please visit us at http://www.newlaunchxpert.com.sg or call us at +65 6100 0877 for immediate attention.

[Attachments] See images for this press release:

New Home Sales Transactions at Record High Despite SIngapore Government Cooling Measures 2

ELSE PRESS RELEASES FROM THIS DATE:

Communication Strategy Group and Client, Logicalis, Earn 2013 "Killer Content" Award

2013-04-24

Content once again proves to be king when it comes to establishing thought leadership, generating demand and nurturing sales leads. Logicalis US and agency partner Communication Strategy Group earned a prestigious 2013 Killer Content Award for its B2B Brand Storytelling Content Marketing Campaign to introduce new HP hardware, software and related services to customers and prospects. The award was received during the B2B Content2Conversion Conference held in New York this week and hosted by the DemandGen Report. "Communication Strategy Group has pioneered the use ...

Kyle Dine is on "The Road...to No Reaction"

2013-04-24

Kyle Dine never planned on becoming a children's musician when he was younger, nor touring across North America performing concerts to gymnasiums packed with students! However, his life-long diagnosis of severe food allergies, has lead him down this road after a near death experience from an allergic reaction. Ever since, he has been educating others about severe allergies through music to help create awareness for potentially life-threatening reactions known as anaphylaxis. This May, he heads on his biggest journey yet with the aptly titled "Road to No Reaction" ...

MTI Systems Releases Costimator Software Version 12 for Manufacturing Suppliers & OEMs

2013-04-24

MTI Systems, Inc., a worldwide provider of cost estimating software and should cost estimating services, announced today the release of Costimator version 12. For decades, this dynamic cost estimating software has provided manufacturers a better way to estimate and quote parts more competitively. Version 12 is packed with upgrades and features that further enhance the speed, accuracy and consistency for estimators; as well as a new layer of specialized and unique features for machining and fabrication. "Costimator V12 is now easier to use and more accessible for ...

Less rainfall expected for the Hawaiian Islands

2013-04-23

Almost imperceptibly, rainfall over the Hawaiian Islands has been declining since 1978, and this trend is likely to continue with global warming through the end of this century, according to a team of scientists at the University of Hawaii at Manoa (UHM) and the University of Colorado at Boulder. This latest Hawaii rainfall study, published in the March 13, 2013, early online issue of the Journal of Geophysical Research, supports previous work conducted at the University of Hawaii. What has been unclear, however, is whether this drying trend will continue. "For water ...

Bacteria may contribute to premature births, STDs

2013-04-23

New research at Washington University School of Medicine in St. Louis points to a common species of bacteria as an important contributor to bacterial vaginosis, a condition linked to preterm birth and increased risk of sexually transmitted diseases. The condition affects one in every three women, making it more common than yeast infections. But bacterial vaginosis often does not cause significant symptoms, leaving many women unaware they have it. "Bacterial vaginosis can precipitate significant health problems, but it is not a common topic of conversation between patients ...

Neurosurgical injuries sustained during the April 2011 tornado outbreak in Alabama

2013-04-23

Charlottesville, VA (April 23, 2013). Neurosurgeons from the University of Alabama at Birmingham (UAB) Medical Center recount their experiences in treating patients with head and spine injuries during the epic April 2011 tornado disaster. The authors focus on injuries sustained on April 27th of that year. Details on these cases and a discussion on the necessity of disaster preparedness are found in "Neurosurgical injuries resulting from the 2011 tornados in Alabama: the experience at the University of Alabama at Birmingham Medical Center. Clinical article," by Joseph H. ...

1 million hours of psychiatrist time wasted yearly on phone approval for hospitalization

2013-04-23

A study published today [Tuesday, April 23] in Annals of Emergency Medicine reports lengthy waits for severely ill psychiatric patients in need of immediate hospitalization in the Boston area, due in part to time-consuming prior authorizations required by insurance companies. Psychiatrists spent, on average, 38 minutes on the telephone getting authorization. In 10 percent of cases it took more than one hour to obtain insurance authorization; in one case authorization took five hours of psychiatrist time. Mental health disorders are common, affecting nearly 1 in 4 adults ...

Drug reduces fat by blocking blood vessels

2013-04-23

BOSTON—Researchers have long known that cancerous tumors grow collections of abnormal blood cells, the fuel that feeds this disease and keeps it growing. Now, new evidence in an animal model suggests that blood vessels in the fat tissue of obese individuals could provide the same purpose—and could provide the key to a new way for people to lose weight. When researchers Jian-Wei Gu, Kristina L. Makey, Edmund Chinchar, Carissa Howie, and Lucio Miele, all from the University of Mississippi Medical Center, gave obese mice a cancer drug that works by inhibiting the growth of ...

Scientists seek an answer to an existential question for an East Texas hibiscus

2013-04-23

BOSTON — Since 1997, a shrubby perennial found only in East Texas has been on a waiting list to be officially declared by the U.S. Fish and Wildlife Service as threatened under the Endangered Species Act. A ruling on the fate of the Neches River rose-mallow is expected by 2016 under a settlement agreement between the feds and a conservation group. If the plant is listed as threatened, it will become eligible for government-funded restoration. But the future of the white-petaled, ruby-throated hibiscus may hinge on its past: The jury is still out on whether the showy plant ...

New research examines connection between inflammatory stimulus and Parkinson's disease

2013-04-23

BOSTON—Parkinson's disease (PD) is a progressive degenerative disease affecting a person's ability to coordinate and control their muscle movement. What starts out as a tremor in a finger will eventually lead to difficulty in writing and speaking, and ultimately the inability to walk without assistance. Since the 1950s research has shown that people with Parkinson's have decreased levels of the chemical dopamine in their brains, which is involved in sending messages to the part of the brain that controls coordination and movement. Subsequent research has found that dopamine-generating ...

New Home Sales Transactions at Record High Despite SIngapore Government Cooling Measures

ELSE PRESS RELEASES FROM THIS DATE:

LAST 30 PRESS RELEASES: