Month: March 2022

Global increase in luxury home prices: Knight Frank
Singapore (Edgeprop) SINGAPORE (EDGEPROP) - Knight Frank’s Prime International Residential Index 100 (PIRI 100), which tracks and analyses prime price performance in 100 cities and second home markets worldwide, increased by 8.4% in 2021, up from 2% in 2020, according to the real estate consultancy’s annual The Wealth Report. This is the highest annual increase [...]

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HDB to buy back flats from owners affected by ethnic quota limits
Singapore (Edgeprop) SINGAPORE (EDGEPROP) - HDB will offer to buy back public housing flats from owners who face difficulties in selling due to the Ethnic Integration Policy (EIP) quotas. The new measure, announced by National Development Minister Desmond Lee on March 8, will allow flat owners who are unable to sell their flat where EIP [...]

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February new home sales down 22.5% m-o-m
Singapore (Edgeprop) SINGAPORE (EDGEPROP) - Property developers sold 527 private residential units (excluding executive condos) in February, a 22.5% m-o-m drop from January’s 680 units, according to URA. On a y-o-y basis, it is an 18.3% drop from 645 units in February 2021. “February is traditionally a slow month as the Lunar New Year tends [...]

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No more strata subdivision of commercial properties in Central areas
Singapore (Edgeprop) SINGAPORE (EDGEPROP) - The Urban Redevelopment Authority (URA) has announced that strata subdivision of commercial complexes or mixed-use developments with a commercial component will no longer be allowed in Central areas. This includes the Orchard Road and Scotts Road stretch, the CBD areas of Robinson Road and Shenton Way and the areas surrounding the Padang and War [...]

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