Author Archives: Nellie Dean

Purchasers are not allowed to sell off their shares to their spouse in the newest ruling

According to experts, this is a common industry practice known as ‘decoupling’, whereby one spouse surrenders his or her co-owner status to become an authorised occupier of the flat.

Between 2012 and 2015, the Housing Board approved an average of around 6,000 ownership transfers a year. The most common reasons were divorce, marriage, death of an owner and financial hardship.

Under the new rules which came into effect in late April, transfer of ownership is only allowed for divorce, marriage, medical reasons, death of an owner, financial hardship and renunciation of citizenship, said an HDB spokeswoman.

HDB flat owners who wish to relinquish their ownership in favour of another family member are no longer permitted to do so, except on certain grounds based on the new rules introduced by the Housing Board, reported The Straits Times.

Previously, owners could freely transfer their unit to their spouse or an immediate family member, and many did so to avoid paying the seven percent Additional Buyer’s Stamp Duty (ABSD) when purchasing a second home in Singapore.  Signature At Yishun is one of the most affected ones with this new implementation.

The practice became even more widespread after January 2013 when the ABSD was imposed on second-time home buyers in a bid to control rising property prices.

79% of Singaporeans satisfied with services of property agents

Nearly four out of five Singaporeans are pleased with the performance of property agents here, according to the latest survey conducted by the Council for Estate Agencies (CEA).

Signature At Yishun price list

 

New Rules to rent of residential units with maximum number of persons

Singapore Real Estate and Housing Development Board (HDB) has actually modified the tenancy cap for 4-room and also bigger HDB apartments for lease to 6 individuals, from the present optimum of 9 individuals.

At the same time, HDB suggests level proprietors in addition to industrial proprietors and also lessees “to comply with the tenancy cap as well as to look for authorization prior to settling their occupancy plans”.

” The majority of renters like to have a space to themselves or at many have 2 to an area,” he claimed. “Many property owners would certainly likewise choose not to have a lot of renters in the very same home as a result of upkeep as well as damage.”

This comes as enforcement activity will certainly be taken versus those breaking the brand-new policy.  This is also in line with the private condo requirment with the 6 persons cap.  Parc Botannia condo is one of them.

Made according to the Urban Redevelopment Authority’s cap of 6 individuals for personal residences that are leased, the alterations “look for to reduce the amenities brought on by congestion, to preserve a favorable living atmosphere in our public real estate estates”.

” The cap for 3-room as well as smaller sized apartments stays the same at 6 individuals as well as 4 individuals specifically,” HDB claimed in a declaration launched on Thursday (1 February).

For those accepted before 1 May, the changed cap will use after revival of the plan to rent or when there are adjustments in the passengers.

Eugene Lim, vital executive police officer at AGE Real estate, anticipate the modifications to have a “marginal” result.

It kept in mind that the cap– which will certainly likewise put on all living quarters of business homes that are being leased– will certainly work for all brand-new as well as revival applications sent from 1 May.

Parc Botannia showflat

Robust sales in Singapore Real Estate

Although upcoming EC tasks could be gone for reduced rates to tempt customers, it is not likely that designers will certainly provide substantial discount rates throughout the board, offered the restricted pipe and also healthy and balanced take-up in the previous couple of years.

Yet unlike The Visionaire, which proclaims itself as Singapore’s initial EC with wise houses, Parc Life is not tech-infused. Cheng stated this is since the existing hard-wired wise residences condos do not attend to adaptability, while cordless choices are still being created.

“The EC tasks introduced in 2013 or earlier are primarily marketed out, and also the earliest ABSD target date for jobs introduced in 2014 would certainly remain in Q2 2018. Moreover, most of EC tasks released in 2014 go to the very least HALF offered,” the record included.

The e-application duration for Parc Life will certainly shut on 24 April, while the reservation of devices will certainly begin on 30 April. Conclusion is anticipated by Q1 2018.

The working as a consultant approximated that the variety of unsold ECs got to 3,637 devices since March 2016, however the number is anticipated to decrease following year, provided the absence of brand-new launches anticipated for 2017.

The Parc Life exec condo (EC) in Sembawang will certainly open up for e-applications this Saturday (16 April), one week after The Visionaire EC in the neighboring Canberra Web link struck the marketplace.

Collectively established by Frasers Centrepoint Limited (FCL) and also Keong Hong Holdings, the 628-unit task lies close to the upcoming SkyPark Residences EC and also Canberra Park.

The Straits Times reported that Parc Life will certainly be contending versus Qingjian Real estate’s The Visionaire. Released last Friday (8 April), the 632-unit EC brought in greater than 400 e-applications over the weekend break.

One more reason programmers are not likely to reduce costs is due to the fact that there is still a lot of time left prior to they need to market all their systems under the ABSD regulations, as well as the majority of formerly released jobs have actually tape-recorded healthy and balanced sales.

Parc Life showflat