During the May Day Rally, Prime Minister Lee Hsien Loong warned Singaporeans to be prepared for more economic challenges in the year ahead. Because there may be a recession within the next two years. As a small island country, the fate of Singapore is intertwined with and affected by the destinies of many countries. We import most of our supplies overseas and export … [Read more...]
The hype behind Greater Southern Waterfront
On April 12, the Urban Redevelopment Authority (URA) announced its housing development in Greater Southern Waterfront. When completed, the existing 48-hectare land of the Keppel Club will have a total of 9,000 residential units, including 6,000 public housing flats and 3,000 private residential units. Property consultants know better than HDB and URA? Real estate … [Read more...]
What will happen to private homes with rising interest rates
I have been posting and commenting about rising interest rates on my Property Soul Facebook page since August last year. The first country that raised its interest rate was South Korea, followed by Norway, New Zealand, Poland, Russia, Brazil, The Czech Republic, Singapore, Pakistan, Hungary, Chile, and finally, the US. The next coming up will be Australia and Canada. In the … [Read more...]
Gloomy days ahead for new home sales
The Urban Redevelopment Authority (URA) published February’s data on "private residential units sold by developers” or new home sales on Tuesday (March 15). For last month, developers only managed to sell 527 units. The sales volume is the lowest in 21 months, with 21.9 percent drop from 673 units in January. It is also a 66 percent plunge from 1,547 units sold last November – … [Read more...]
4 big questions of Singapore’s wealth taxes
Blackbox Research surveyed 764 people on Singapore’s Budget 2022. The results showed that two in five respondents “highly favored” tax hikes for top income earners and higher duties for luxury cars. The poll didn’t mention the type of home or personal income of the respondents. But those who “highly favored” raise in taxes are probably not targeted in the new round of … [Read more...]