Singapore Real Estate Value is on a high and has recorded about 35% boost since 2009. The property prices have also soared, though buyers have increased. For this reason, Singapore Government announced increase in Buyers Stamp Duty Charges on December 8th, 2011. Following this, property buyers who are Singapore Citizens, Singapore Permanent Residents and Foreigners excluding those who reside on countries that have signed FTA with Singapore, will have to pay more duty on their third, second and first property purchases respectively. Additionally, property developers are asked to resell their residential units within five years from the purchase date.
While cooling measures are announced, only time will tell if the market tilts to bulls, or bears in 2012. Few analysts have predicted as much as 20 – 30% fall in property prices, while others say it will go strong, until a major economic crisis hits. Few studies say the prices will begin to fall during the later part of 2012 and even otherwise, the new changes would influence the price on the developers' end.
With all the recent changes targeting at investor buyers, developers target first time property buyers for all their projects. Currently, waterfront or riverview projects are considered trendy for those buying homes or even investment condo in Singapore. Since Treasure Trove condo in Punggol that is launched near a waterfront premise, became a success with many, Qing Jian Realty developer is contemplating on their next launch. It has planned to launch a private condominium Riversound Residence around Sengkang, which will be facing Sungei Serangoon and Sungei Pinang. Additionally, it has awesome view and being situated few feet away from Punggol Park, as key aspects. Those preferring a calm and comfortably lifestyle, will find this suitable.
Riversound Residence will be offered as a 99 years leasehold private condominium and will be located along the Sengkang East Avenue. About 590 units are planned and will have 1,2,3 or 4 bedrooms. Most units will be North – South facing, constructed on 6 blocks of an 18 storey building. The most interesting aspect of this project is the planned sky terraces on the 14th floor of the 18 storey premise, when only 30 storey premises get such terraces. If you are contemplating your first home purchase, ensure to check in for launch in January 2012.
Singapore Real Estate Value Reports from Amazon