September 30, 2022

Following the increase in interest rates, the authorities have introduced a few cooling measures effective today (30 September 2022) to restrict borrowing by home buyers. The main measure is the increase in the medium-term interest rate floor (also known as the stress-test interest rate) to compute the Total Debt Servicing Ratio (TDSR) and Mortgage Servicing…

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A District 10 bungalow at Jalan Jelita has just been offered for sale for S$20.5m. At S$3,402 psf, the property is accepting private offers and sits in an extremely exclusive neighbourhood, shared Kevin Lim, Chief Agency Officer of ERA Singapore. With a land area of 6,025 sqft, this 999-year bungalow is near Holland Village MRT…

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Following recent news about HDB resale flats hitting the million-dollar mark in the suburbs, the number of million-dollar flats sold has hit a record high in September 2022. According to Pow Ying Khuan, Head of Research at 99 Group, as of 30 September morning, 43 HDB resale flats have breached the million-dollar mark this month.…

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Managing Agents are JACK of all trades. For an estate to be well managed, the management Council needs to be competent, knowledgeable and be able to provide strategic directions. Thus, we do have a competent Managing Agent and as Council Member we work with them as a partner in the well being of the estate. We have to understand that an estate is "growing" daily, thus the Repair and Replacements processes daily, is inevitable especially If we walk around after rainy days. A competent managing agent,like Nouvelle, will attend to it daily which may take time. From my experience, I have worked with MA that will call in Vendors to attend to the smallest job. Thus the cost of MCST is out of control.

The government announced new property cooling measures, effective from 30 Sep 2022 onwards. Read about the new property curbs here.

As US interest rates continue to rise, the Monetary Authority of Singapore (MAS), Ministry of National Development (MND) and Housing and Development Board (HDB) have taken a pre-emptive step to introduce new cooling measures (albeit ‘temporary’ and subject to continuous review and updates). The move is aimed at promoting more prudent borrowing and avoiding future…

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