Only owner-occupied residential properties enjoy concessionary property tax rates. Properties which are rented out or vacant do not enjoy this concession, says Deputy Prime Minister Heng Swee Keat.
Social disamenities relating to noises, cigarette smoke and foul smells increased from 600 cases per month between January to March, to 2,100 cases per month from April to July.
The three new appointed members are Lok Vi Ming, Managing Director of LVM Law Chambers; Ong Choon Fah, CEO of Edmund Tie & Company (SEA); and Thomas Tan, President of Singapore Estate Agents Association.
With many buyers flocking back to the market following the end of the circuit breaker, resale volume surged 127.3% to 7,787 units in Q3 2020 from 3,426 units in Q2 2020.
Transaction volume for private homes spiked 164.5% to 7,047 units in Q3 2020 from 2,664 units in Q2 2020, with resale homes accounting for a larger proportion of the total sales.
Knight Frank conducted its first physical auction since the circuit breaker, with its prized transaction a property at 14 Lorong Kismis for $1.32 million, or 22% above its opening price of $1.1 million
The disbursement of Central Provident Fund (CPF) housing grants, decrease in the sales of flats, and the expected loss for flats that are currently under development have been attributed for the figures.
Christine Sun, Head of Research and Consultancy at OrangeTee and Tie noted that people were more acutely aware of the need to acquire larger unit “to set up a dedicated workspace or small office at home”.
In this partnership, ERA agents will be provided with Matterport's “digital twins” of properties which give prospective house buyers access to comprehensive, virtual, round-the-clock property viewings.
