In a surprising turn of events, new private home sales plunged by a staggering 34.6% in December 2022, revealing a slowdown in the property market. However, there was a silver lining as HDB completed the most flats in five years, suggesting a promising outlook for public housing. Stay informed with more updates on the real estate landscape.
In a remarkable feat, 60% of Sceneca Residence units were swiftly snapped up on launch day, signaling strong demand for affordable housing. However, another BTO project is marred by a concerning issue of mould, prompting calls for better quality control. As Singapore grapples with housing challenges, it underscores the need for proactive measures to ensure livable and sustainable homes for all. Stay tuned for more updates on the nation’s property landscape.
In a remarkable development, The Reserve Residences sets a new record by previewing for an astounding $2,300 PSF. Meanwhile, Rivière at Jiak Kim has successfully sold out, solidifying its status as a sought-after address. These unprecedented real estate achievements highlight the thriving property market, offering insights into the increasing demand for luxury living in the city.
Despite the recent hike in Buyer’s Stamp Duty (BSD) rates, new private home sales have shown an unexpected increase. In addition, the government has initiated a pilot program for singles, introducing shared room facilities. These developments reflect the efforts to address the housing needs of Singaporeans amidst changing market dynamics.
In the article “Pinetree Hills Preview Prices From $2,236 PSF, Kingsford Emerges As Top Bidder for Marina Gardens Lane GLS Site, and More,” we explore the caution exhibited by developers amid increased risks in the latest land tender results [(https://www.businesstimes.com.sg/property/latest-land-tender-results-show-caution-among-developers-big-sites-amid-heightened-risks)]. Kingsford secured the Marina Gardens Lane site with their top bid of S$1.03b, while Pinetree Hills offers a sneak peek at prices starting from $2,236 per square foot. Stay informed about these developments and more.
Blossoms By The Park, a prominent residential project, has successfully sold over 70% of its units, signifying a strong demand for upscale housing. Moreover, HDB has introduced the HDB Flat Eligibility (HFE) letter, ensuring transparency and eligibility criteria for prospective homeowners. These developments indicate a promising market outlook for both the private and public housing sectors.
Tembusu Grand, the highly anticipated residential development, achieved phenomenal success by selling 53% of its units during its launch weekend. Furthermore, the captivating Blossoms By The Park preview event managed to entice a remarkable crowd of 4,000 individuals. These milestones mark an auspicious beginning for Tembusu Grand and emphasize its growing prominence in the real estate market.
According to recent data, Tenet EC has successfully sold 93.2% of its units, with 576 out of 618 units being bought by second-time buyers [(https://www.propertyguru.com.sg/property-management-news/2023/1/207630/tenet-ec-now-93-2-sold-mould-stained-anchorvale-parkview-blocks-to-undergo-repairs-and-more)]. In addition, the Anchorvale Parkview blocks, which have been affected by mold stains, are scheduled to undergo repairs.