The April hike in additional buyer’s stamp duty (ABSD) for all, combined with elevated interest rates, has made buyers more cautious.
The sale comes a month after the last resale transaction at Yong An Park.
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The lower transaction volume followed a dimmer economic outlook amid interest rate hikes and inflationary pressures, as well as new property cooling measures that may have impacted homebuyers’ decision-making.
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Built with sustainability in mind, Cap Karoso will source most of its fresh produce for its restaurants from its own organic farm, which is a few kilometres away from the main guest residence.
The ultra-rich are attracted to Singapore by the government’s Global Investor Programme, which allow next-generation business owners and founders of fast-growing companies including family offices to be granted permanent residence (PR) status.
Seafront and a luxe lifestyle are driving renewed interest in the island resort properties from locals and expats alike – and you’ll get more for your millions compared to Singapore proper too
These deals were all completed in Phase Two reopening on June 19 after the “circuit breaker” period, when prospective buyers and agents were allowed to visit the property and gauge the suitability for their requirements, agents said. No matter how affluent, buyers prefer to view the physical property before making a purchase, they said.
The impact of Covid-19 is not immediate and a slowdown of sales momentum could be seen in the second half of 2020, following weak economic sentiment and employment figures, analysts said.
JustCo made its first foray in Japan last week by announcing it had formed a new joint venture with Japanese construction and real estate giant, Daito Trust Construction.
Most office tenants will exercise more caution regarding their need for commercial space in Singapore, and real estate costs, on the back of a weaker economic outlook, said Colliers International.
To date, investments into Forest City, a project comprising four man-made islands total more than 17 billion ringgit (US$4 billion)
The new development is located next to Wack Wack Golf and Country Club, one of the oldest golf courses in the Philippines.
The gap between new and old projects has widened even further over the past year.
Despite fears of a no-deal Brexit and global economic slowdown, Peter Young, co-founder and CEO of Q Investment Partners, believes there are still bright spots when it comes to property investment opportunities in the UK and US.
Using prefabricated volumetric construction, one residential development in Singapore was completed six months ahead of schedule
There has been a rash of big-ticket purchases of luxury penthouses in the prime districts, driven predominantly by Chinese buyers
Over the next two years, the supply of office space in China’s tier 1 cities is expected to be high and is likely to be accompanied by low vacancy rates
A doubling of stamp duties to 20 per cent for foreign buyers has put international investors off, while locals are drawn to mainland Singapore where property is freehold
The incentive scheme will offer the buildings’ owners a higher plot ratio, meaning they can include more units in their new developments
United Industrial Corporation, a subsidiary of UOL Group, is acquiring a further 24.27 per cent stake in indirect subsidiary Marina Centre Private Holdings (MCH) for S$485.3 million. It already owns a 53.07 per cent stake in MCH.