District 10 Freehold Condo Offers Discounts to Offload Stock Before the ABSD Deadline

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District 10 freehold condo offers discounts to offload stock before ABSD deadline

District 10 Freehold Condo Offers Discounts to Offload Stock Before the ABSD Deadline

A District 10 freehold condo with a rooftop tennis court is a tempting buy for buyers looking to own a home in the city. It also has a good location, being near SUTD and Upper Changi MRT stations.

Usually, developers will try to sell off the last units before the ABSD deadline. They may offer discounts or flash sales to clear stock.

Discounts for individual buyers

With the additional buyers’ stamp duty (ABSD) clawback deadline set for next year, developers are ramping up efforts to offload their unsold stock before it hits. Discounts and deferred payment schemes are among the strategies being used to boost sales.

A freehold condo in Bukit Timah, for example, is touting buyer’s stamp duty (BSD) discounts of up to $110,000 off selected units, in a bid to offload its remaining units before the ABSD deadline. One promotional advertisement for Royalgreen screamed “Full absorption (100%) of BSD”, while another ad said:

But analysts warn that heavy discounts will leave a bitter taste for earlier batches of buyers who missed out on cheaper deals. And they may have an impact on pricing of developments nearby.

Discounts for bulk buyers

A freehold condo near Bukit Timah is offering discounts to offload stock before the ABSD deadline, which means you can get a good deal without paying heavy stamp duties. The developer has also negotiated to pick up transfer taxes and applicable luxury or mansion taxes on the unit, effectively cutting your costs by a significant amount.

During times of slow sales, developers have a natural tendency to look for ways to offload their units. In turn, bulk buyers are also looking for opportunities to purchase condo units at discount prices in order to resell them later on.

For example, UOB’s chairman emeritus Wee Cho Yaw bought 45 unsold units at The Nassim back in 2017 from developer Kheng Leong. The deal helped the developer avoid a Qualifying Certificate (QC) penalty, which it would have to pay if it failed to finish the project within five years and sell all units within two years of the top-of-market date (TOM).

Discounts for upgraders

In a bid to offload stock before the ABSD deadline, some District 10 freehold condos are offering discounts to upgraders. This is a strategy to attract more buyers to their projects and push sales.

Analysts say developers can also offer other sweeteners such as deferred payment schemes or discounts for renovation works. These strategies aim to help developers overcome the hurdle of a hefty ABSD liability and get their units sold before the deadline.

But this approach could leave a bitter taste for earlier batches of buyers who bought these properties at higher prices. Moreover, bulk deals tend to have a negative impact on the prices of other developments nearby, analysts say.

One freehold condominium in Bukit Timah – Royalgreen – is promoting “buyer’s stamp duty (BSD) discounts” of up to $110,000 for selected units, according to its promotional advertisement.

Discounts for investors

As some new condos near the 5-year ABSD deadline are still unsold, developers are keen to offload stock. To do this, they may offer discounts to investors based on the take-up rate or number of units left unoccupied.

One popular freehold condominium in Bukit Timah, Royalgreen, is now running what it calls buyer’s stamp duty (BSD) discounts of up to $110,000 off selected units. These promotional advertisements were spotted on WhatsApp last month, days after the marginal BSD for pricier residential and non-residential property was raised in Budget 2023.

In the face of these discounts, analysts have cautioned that they could leave a bitter taste for past buyers, especially if they bought their units at higher prices earlier. Nevertheless, some analysts say that a discount does help clear the stock and boost developer profit.

For instance, Malaysian plantation and property group IOI Corp, the developer of The Trilinq at Clementi, is facing S$52.1 million in ABSD fees if it fails to offload 267 unsold units by February. Singapore Land, the developer of Mon Jervois (42 unsold units) and Pollen & Bleu (93 unsold units), is also expected to incur heavy clawback fees this year.

Young Singaporeans Should Right-Size Their Housing

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Young Singaporeans Should Right-Size Their Housing Aspirations at Each Life Stage

Housing is a major expense that sucks away a sizable chunk of your income, and can even have an impact on your savings potential. As a result, it’s important to plan carefully when buying a house.

While we may have a tendency to look for the best deals in housing, we should also consider our needs at different life stages. By right-sizing, we can unlock cash from our current flats to invest in a smaller one that suits our future needs.

Young Singles

Tinder has rolled out a crash course in online dating that is aimed at young Singaporeans, called School of Swipe. Taking place over the next few months, the event will help participants build confidence and build meaningful connections with new people.

The survey showed that most people, including singles, would like to own a home in the next two years. The main reason was that they want to have more personal space.

But despite these aspirations, many of them do not have the means to do so, as they do not earn enough money to afford a private property. This has led to some singles opting to rent.

Mr Chua, whose Workers’ Party is the main opposition group in Parliament, said this has serious implications for singles who cannot afford to own their own homes. He suggested that the Government review its policy, which excludes singles under 35 from buying HDB flats.

Another possible solution, he suggested, is to subsidise rent for singles who choose to rent. However, he cautioned that this could transfer taxpayers’ money into the hands of landlords.

Young Couples

Singapore is a thriving city-state with one of the highest standards of living in Asia. Its workers pay into a social security system that provides health care benefits, allows them to borrow in order to purchase a home and enables most to retire at 55.

Many young Singaporeans strive to get into top schools and achieve a high-paying job. This is part of an institutional set-up that puts economic growth and materialistic achievement as a top priority.

However, some young Singaporeans feel that this is a false and unsustainable goal. Some believe that their careers should be based on a strong personal desire rather than what they perceive to be a market-driven economy.

In order to understand why this is happening, we interviewed a group of young Singaporeans about their political participation in two waves of focus group discussions. Both groups of participants were recruited via online advertisements in which basic demographics, citizenship status, political interest, attention to news and politics and preferred time slots were obtained.

Young Families

The current housing environment in Singapore is a complex and dynamic one, with significant implications for all of us. We are faced with a housing affordability crisis that is compounded by the casualisation of labour markets and disruptions in family formation (Campbell, Parkinson et al. 2014).

Young families are particularly susceptible to the impact of housing affordability constraints. They have less access to social rented housing, and the financial capacity to save for a deposit, or afford a home mortgage, than previous generations.

Despite these difficulties, they tend to persist with their shelter and non-shelter aspirations. This is largely driven by family formation, employment and lifestyle choices.

However, they also have to adapt to a changing market and their own preferences. This is a process that is likely to take place over a long period of time. Therefore, young people need to be encouraged to?right-size? their housing aspirations at each life stage. This can be achieved through a combination of policy measures that focus on housing diversity and innovation.

Older Singles

While a number of young Singaporeans are motivated to date seriously after watching their peers tie the knot, it is important for older singles to?right-size? their housing aspirations at each life stage.

Despite this, some younger singles have high expectations and a hard time accepting the fact that not all relationships will progress to marriage. This can be attributed to a lack of experience, as many youths don’t feel ready to commit to a long-term partner just yet.

But this can be remedied by investing more time and effort on dating. Experts recommend giving prospective partners the chance to show their qualities beyond the first date. This is because people may not know if their potential partner will be the right fit for them until they have spent more time together.

Freehold Condo Units For Under $600k

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Freehold condo units for under 600

Freehold Condo Units For Under $600

Whether you’re looking for a new home, or are an investor in the market for an apartment, freehold condo units offer some of the best value on the island. But they can also be quite pricey, so it’s important to find a good deal.

The key to finding the perfect condo is not just spotting the right place, but choosing a property that suits your needs and lifestyle. If you have an active social life, then it’s a good idea to consider a development with amenities nearby.

One of the best options available in this price range is Avila Gardens, which is a small freehold condominium located in Geylang. This is a great choice for those who love to socialize and enjoy a wide array of dining options within walking distance.

If you want to live in the city, then this is a good pick because of the close proximity to MRT stations and the vibrant Geylang district. It’s also a great place to go out for dinner, as it’s home to a wide array of restaurants and retail outlets.

It’s also a good choice if you’re looking for a spacious unit, since it’s larger than the average condo size. It’s a good choice for singles or couples who like to spend time outside as well, as the location is also close to Changi and Pasir Ris beaches.

There are many other great places to live in Singapore, but the key is to find a development that’s within your budget. To help you out, we’ve rounded up some of the most affordable freehold condo units for under $600.

The Water Edge is a fantastic choice for those looking for a condominium that’s in an extremely convenient location, and is surrounded by the lively Geylang district. It’s also close to Paya Lebar MRT station, which is super-straight and easy to use.

When it comes to facilities, the Water Edge is pretty solid too. It has a pool, gym and a jacuzzi, as well as a lounging deck, BBQ pit, playground and clubhouse. It’s not the most extravagantly designed building around, but it does offer all the essentials to get you going and keep you coming back.

Another good choice in the D14 area is Prime Residence, which has a handful of one-bedder condos for sale that are priced under S$600,000. The one-bedroom units here boast a generous floor space, and the development is only about 6 years old.

It’s a great choice for those who want to be in the centre of town, but don’t have a lot of money to spend. The smallest 1-bedders are priced under S$600,000 and the largest two-bedders have a quantum as low as S$1.1 million.

With a rental return of 2.9 percent, this Manhattan condo is a strong buy for investors who are looking to rent out their investment. It’s situated in a high demand location with close access to MRT, the United Nations, Citigroup Center, Blackstone and Blackrock headquarters, as well as a wide variety of restaurants.

Inflation in singapore expected to be high in 2023

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Inflation in Singapore to Stay High in the Next Year

Inflation in Singapore will stay high next year even as pace of economic growth slows MAS

Singapore’s CPI inflation rate has increased significantly since the beginning of 2022. The CPI-All Items inflation rate was 7.5% y/y in August, up from 4.0% y/y in January 2022. The measure of Core Inflation, developed by the Monetary Authority of Singapore, has also increased to 5.1% y/y in August. In the next year, Core Inflation is forecast to remain at a moderately high level.

Core inflation

Core inflation in Singapore is likely to remain high in the first half of next year, although it is forecast to moderate slightly in the second half. As the pace of economic growth slows, cost pressures are expected to ease. In 2023, core and headline inflation are both expected to average 3.5 to 4.5 per cent.

This is despite recent data that shows that the pace of economic growth is slowing. Private economists are forecasting headline inflation of 5.3 per cent this year, a slight decrease from their March forecast. This is despite the fact that core inflation excluding private transport and accommodation costs is expected to remain high.

Headline inflation

Singapore’s headline inflation will likely stay high next year even as the pace of economic growth slows, a private economist has predicted. However, the MAS has downgraded its full-year growth forecast by one percentage point to 3.8 per cent, compared to its previous forecast of 4 per cent for next year. The economists have raised their projections for core inflation, which is the underlying cost of goods and services excluding private transport and accommodation, from 2.8% in August to 3.4% in 2022.

The tight labour market poses risks to overall inflation. It can lead to a wage-price spiral – a cycle where workers demand higher wages in order to keep up with higher prices. Singapore’s productivity growth remains positive, but the wage-price ratio must not fall below that level. The MAS expects Singapore’s headline inflation to remain high next year, but it will probably moderate a bit in the fourth quarter.

Cost of living

A Singapore government report on Thursday has downgraded its full-year economic growth forecast, with growth expected to slow to a three to four-per-cent range. It blamed weaker external demand and significant downside risks to the global economy for the lower-than-expected forecast. As a result, the pace of discretionary spending in the country will likely moderate. It is also likely that trade-related sectors will drag down growth.

The government’s fiscal support is aimed at helping vulnerable groups cope with the cost increases. Since February 2022, it has stepped up its intervention with cash grants and rebates on utility bills. However, the government is not intending to increase the economy’s economic stimulus, which could lead to inflationary pressures.

Wages

The pace of economic growth in Singapore is likely to slow down in the next year, but the pace of inflation will remain high. Imports will remain a major contributor to inflation, and a tight labour market will support firm wage increases. Businesses are also expected to hike prices to pass on costs to customers. In September, core inflation in Singapore rose to 5.3 per cent, up from 5.1 per cent in August. Meanwhile, the headline consumer price index rose by 7.5 per cent year-on-year.

Rising inflation is a major concern for policymakers in Singapore. The country’s central bank tightened its monetary policy in January, joining many central banks around the world in tightening monetary policy to fight rising prices. The conflict in Ukraine has increased pressure on prices, while global supply snags have weighed on prices in many countries. The Singapore government is prepared to respond to these external factors with monetary and fiscal measures.

Demand outlook

Inflation in Singapore is expected to stay high next year despite the slowdown in economic growth. Despite the global slowdown, wage increases are expected to continue to drive prices higher, and Singapore’s core inflation will remain above its historical average. As the labor market remains tight, the pace of wage increases is expected to remain strong, supporting high inflation rates. Nevertheless, the outlook for inflation remains uncertain.

A survey by S&P Global showed that the rate of input-cost inflation accelerated in September. Higher purchase costs and rising average staff costs were the main factors, with wages rising at the second-fastest pace since August 2011. The rate of wage growth was also boosted by commissions and overtime payouts.

Singapore Shophouse Rentals Extend Gains in Q3

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Singapore Shophouse Rentals Information

Singapore Shophouse rentals extend gains in Q3 as landlords price up on strong demand

Despite the Pandemic, property rental rates are still on the rise in Singapore, indicating that there is still strong demand. The rise in rents is driven in part by strong demand, and in part by cooling measures which are expected to be implemented in 2022.

Property market recovers after Pandemic

Despite a slow start to the year, the property market in Singapore is showing signs of recovery. One property launch saw demand for units so high that there were six rounds of price increases. Eventually, units were priced between $1,400 and $1,450 Singapore dollars per square foot. Among the top selling units were units at Pasir Ris 8, an iconic private condominium.

The government has taken measures to cool the market, but foreign buyers have yet to return, despite the new rules. The Monetary Authority of Singapore (MAS), the country’s central bank, has recently warned foreigners to be cautious. It has also imposed travel curbs that have made it more difficult for foreign investors to invest in Singapore real estate.

Rents increase on strong demand

Rents in Singapore have been increasing for more than a year. The rise is based on strong demand, which is mirrored in price increases. While the overall rise has been moderate, it has been higher than in other parts of the country. The highest median rents are found in Geylang and Punggol, which have experienced the largest year-on-year increases.

Rents are rising for many reasons, including the fact that more young Singaporeans are looking for their own space. Home-based learning and work situations have increased rental demand. Additionally, there are many young adults who live in multi-generational households, which can feel uncomfortable and crowded. These young professionals need a place where they can work comfortably. Another factor driving rents up is the housing market, which has been booming. Despite the increase in prices, many people are still not ready to purchase a condominium.

Cooling measures to be introduced in 2022

The Singapore rental market has seen a surge in demand over the past two years. The lack of available inventory is expected to continue the growth in the short to medium term. In the meantime, prime tenants are seeking quality units with larger floor plates in central locations. Covid lockdown rental deals, which were common during the last boom, are becoming a thing of the past. According to Alan Cheong, head of Savills Research and Consultancy Singapore, rents of non-landed luxury residential units in Singapore will increase by 20% year-on-year by 2022.

Prices for private residential units in Singapore extended gains in the third quarter, rising a healthy 8.6%, from 6.7% in the previous three months. The low supply and modest improvement in household income are both contributing to this gradual increase in prices. Annual home price growth in Singapore is predicted to slow down to 7% by 2023.

Growth of non-landed private homes

Singapore Shophouse rentals have extended gains in Q3 as landlords continue to price up on strong demand. This is in part due to strong demand from foreign homebuyers, who are willing to pay up to 30% ABSD premium for a unit. Meanwhile, locals are also moving into properties that were previously rented by expatriates. These locals are usually waiting for construction to finish on their new properties.

The recent bumper year for the shophouse market has seen the total volume of transactions jump to S$1.53 billion so far this year, compared with the previous year. The high for the year was S$1.46 billion and 145 transactions totalling S$913 million, according to data from CBRE’s analysis of URA Realis caveats. This year, sellers are also more willing to sell shophouses, with eightM Real Estate selling 61 Boat Quay for S$11.2 million and 17 Circular Road for S$10.7 million.

Rise in inflation

Inflationary pressures are spreading to the retail sector in Singapore. Core consumer prices rose 7.1% in the second quarter of 2007 and were still relatively low in the third quarter. This resulted in a rise in retail rents. According to property analysts, rental prices may not return to pre-pandemic levels until 2023. For example, Angelia Phua, the director of research and consultancy at JLL Singapore, estimates that the prime retail floor space rent in Singapore will rise 1.5 to 3.5 percent between 2018 and 2022.

The rise in rental prices is mainly due to higher demand. Inflation has increased in all sectors in Singapore in the past year, and it is expected to continue rising in the coming year. Moreover, food inflation is expected to reach 4.5 per cent in May 2022, up from 4.1 per cent in April.