Singapore home Condominium

Additional Buyer's Stamp Duty for a Stable and Sustainable Property Market

2011-12-07T22:20:00.001+08:00

Additional Buyer's Stamp Duty for a Stable and Sustainable Property Market

2011-12-07T22:03:00.005+08:00

1 The Government announced today an Additional Buyer’s Stamp Duty (ABSD)to be imposed on certain categories of residential property purchases. The ABSD will be imposed over and above the current Buyer’s Stamp Duty, and will apply to the purchase price or market value of the property (whichever is higher) for the following purchases:

a) Foreigners and non-individuals^[1] (corporate entities) buying any residential property will pay an ABSD of 10%;

b) Permanent Residents (PRs) owning one^[2]and buying the second and subsequent residential property will pay an ABSD of 3%; and

c) Singapore Citizens (Singaporeans) owning two² and buying the third and subsequent residential property will pay an ABSD of 3%.

The ABSD will take effect on 8 Dec 2011^[3]. Remission of ABSD will be given for options granted on or before 7 Dec 2011 and exercised within 3 weeks (i.e. on or before 28 Dec 2011) or the option validity period, whichever is the earlier.

2 The Government's objective is to promote a sustainable residential property market where prices move in line with economic fundamentals. Prices of private residential properties have continued to rise, albeit more slowly in the last two quarters. Prices are now 13% above the peak in 2Q1996 and 16% above the more recent peak in 2Q2008.

3 Even with the current economic uncertainties, the demand for private residential property remains firm. Given the uncertainty in stock markets and with interest rates remaining low, private property in Singapore continues to attract investors, local and foreign. Excessive investment demand will however make the property cycle more volatile, and thus increase the risks to our economy and banking system.

4 The Government has therefore decided to impose the ABSD to moderate investment demand for private residential property and promote a more stable and sustainable market. A higher ABSD rate for foreign buyers in particular is necessary, in view of the large pool of external liquidity and strong buying interest from abroad, and the relatively small size of the Singapore market. Foreign purchases account for 19% of all private residential property purchases in 2H2011, up from 7% in 1H2009.

5 The ABSD will apply in addition to the existing Buyer’s Stamp Duty on property purchases, which are applied at following rates: 1% on first $180,000 of purchase consideration or market value of the property (whichever is higher), 2% on the next $180,000 and 3% for the remainder.

6 For purchases made jointly by two or more parties (e.g. a Singaporean with a PR, or a PR with a foreigner), the higher applicable ABSD rate will be imposed. For example, if a citizen purchases a property with a foreigner, the ABSD of 10% will apply. In the case of a joint purchase by Singaporeans, who each already owns properties, the ABSD of 3% will apply as long as one of the purchasers already owns two properties.

7 Singaporean first time buyers and upgraders, and buyers of HDB flats^[4] will not be affected by the new measure. Certain reliefs will be provided so that the measure will not impact home occupation demand by residents. For example, relief will be provided for Singaporean-foreigner/PR married couples buying their homes. Reliefs will also be provided for qualifying developers and for purchases falling within the scope of Singapore’s international trade agreements. More details will be provided on the IRAS website.

Adequate Supply of Private Housing to Meet Demand

8 The Government will also continue to ensure an adequate supply of private housing to meet medium term demand. There are 41,000 unsold private housing units in the pipeline. The Government will inject sites that can potentially yield a total of 14,100 units in the 1H2012 Government Land Sales (GLS) Programme, similar to the supply in previous GLS programmes. Of these, about 7,000 units will be from sites on the Confirmed List. These numbers take into account the ample pipeline supply and the dampening effect of the ABSD.

9 To give more Singaporean households the chance to own or upgrade to private housing, the Government raised the monthly income ceiling for the purchase of new Executive Condominiums (ECs) from $10,000 to $12,000 in Aug 2011. We will expand the EC supply in 2012 and are prepared to release sites that can potentially yield 5,000 EC units for the entire year. Sites for 3,500 EC units will be made available in 1H2012, including 3,000 EC units on the Confirmed List. The Confirmed List quantum is comparable to the 3,000 EC units from 5 sites sold for the whole of 2011. More details will be provided in the press release for the 1H2012 GLS Programme on MND’s website.

10 The Government will continue to monitor the property market and adjust our property policies in step with changes in the market and the economy. Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister for Finance, said, “We have always had open markets and must keep them that way. However, the reality is that investment flows into our property market are now larger than before, and unlikely to recede as long as interest rates remain low. The additional buyer’s stamp duty should help cool investment demand, and avoid the prospect of a major, destabilising correction further down the road.”

11 Khaw Boon Wan, Minister for National Development, said, “We are ramping up the supply of new EC units through the Government Land Sales Programme. This will help higher-income Singaporeans own private condominium units in an affordable way, as the sale of new EC units is restricted to Singaporean households only.”

Issued by the Ministry of Finance & Ministry of National Development

1]This includes corporate, trusts and collective investment schemes amongst others.

[2] A person is regarded as owning a property for the purpose of ABSD as long as he owns part of that property. Overseas properties will be excluded from the count of properties owned.

[3] The measure will apply to a property purchase if the option for purchase is exercised or the agreement for transfer is executed, whichever is earlier, on or after 8 Dec 2011. Where no option for purchase is granted and only an agreement for transfer is executed, then the measure will apply to the agreement for transfer if it is executed on or after 8 Dec 2011.

[4] The purchase of HDB properties will not be affected by this measure. Only Singaporeans and Permanent Residents are eligible to be HDB flat lessees (i.e. own a flat). Existing residential property owners who buy an HDB flat or a new unit under the Design, Build and Sell Scheme (DBSS) or the Executive Condominium (EC) Housing Scheme will not be subject to the ABSD, since the existing flat/property will have to be disposed of as part of the conditions for the purchase of the HDB/DBSS flat or EC unit.

If you fail to stamp, stamp late or stamp insufficiently

2011-07-26T10:47:00.002+08:00

If you fail to stamp, stamp late or stamp insufficiently
Stamping requirements
If you fail to stamp, stamp late or stamp insufficiently
Report a mistake to qualify for zero penalty or lower penalty
Paying your Stamp Duty or penalties
Stamping Requirements
You are required to stamp documents within:-

14 days from the date of execution if the document was signed in Singapore;
30 days of its receipt in Singapore if the document was signed overseas.

Examples of when you are required to stamp your document:

1.The document was signed in Singapore on 1 February 2010. You must stamp your document by 15 February 2010. Stamping done on or after 16 February 2010 is considered late.
2.The document was signed overseas on 1 February 2010 and was first received in Singapore on 10 June 2010. You are required to stamp your document by 10 July 2010. Stamping done on or after 11 July 2010 is considered late.
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If you fail to stamp, stamp late or stamp insufficiently
A penalty of up to four times may be imposed if documents are found not stamped, stamped late or insufficiently stamped during audit.

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Report a mistake to qualify for lower penalty
If you come forward voluntarily to fully disclose an earlier omission or underpayment, IRAS is prepared to accord a reduced penalty of 5% per annum calculated on a daily basis on the stamp duty payable. The voluntary disclosure must be made before IRAS starts any audit.

The reduced penalty is also subject to the following:

A minimum penalty of $10 is imposed on a document that is stamped within 3 months from the due date;
A minimum penalty of $25 is imposed on a document that is stamped after 3 months from the due date.
A voluntary disclosure can be made by stamping the document via the e-Stamping system, at any of the SingPost service bureau at Novena (Revenue House branch), Chinatown Point branch, or Robinson Road branch. e-Stamping is also available at the Surf Centre at Revenue House.

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Paying your Stamp Duties and Penalties
You can pay stamp duties, penalties and any other charges using one of the following modes:

For registered users :
By GIRO
For non-registered users :
By eNETS if you e-stamp at home or anywhere with internet access. For payment by eNETS, you need an existing internet banking account with DBS/POSB, OCBC, UOB or Citibank.
By NET / eNETS if you e-stamp using our e-terminals at IRAS Taxpayer Service Centre.
By NETS / cheque / cashier’s order / cash at any of the three service bureaus operated by SingPost at Novena, Chinatown Point and Robinson Road. If you are paying by cheque or cashier’s order, payment must be made to “Commissioner of Stamp Duties”.

The Clift

2011-04-09T11:02:00.006+08:00

The Clift located at 21 Mccallum Street, Singapore 069047, in District 02

with 312 units of both 1 and 2 bedrooms.

Develop by Far East Organization with 99 years leasehold property

Facilities swimming pool, gym, sky lounge, Jacuzzi, sauna, massage lounge, and laundrette.

CBD area and MRT is within minutes of walking distance and Orchard Shopping belt
is 15 mins drive or few station away.

Call 96384602 for 1 bedroom and 2 bedroom viewing appointment. Both Rental and Sales.

The Orchard Residences

2011-04-08T10:23:00.005+08:00

The Orchard Residences total of 175 units located along Orchard Road shopping and entertainment belt. Facilities at The Orchard Residences include a swimming pool, spa, clubhouse, wine/cigar Bar, tennis court......

Established local and international schools are mostly a short drive away, such as Raffles Girls’ School, Overseas Family School, and ISS International School. Ion Orchard, Tangs Plaza, Wisma Atria, The Paragon, and Takashimaya are just within short walking distance . To CBD(Central Business District) is just few minutes either by MRT/Buses or drive Call Boon Hin at 96384602 for viewing appointment

Tribeca by the WaterFront - Studio

2011-03-01T14:02:00.012+08:00

Tenancy : 14 Aug 2010 to 13 Aug 2012
Tenant : British Single male
Tenure : Freehold
Rental : S$3350 per month
Size : 570sqft
Address : 60, Kim Seng Road,
Asking : S$1,230,000.00
Facilities : Children pool, lap pool, Jacuzzi, gym, tennis court, steam room, barbecue pits, children Playground
Amenities :MRT, Expressway, Shopping Complex, School, Cinema, Market, Shop, Forest/Nature Park, FoodCourt

New Measures To Curb Residential Property Speculation

2011-01-13T14:42:00.001+08:00

New Measures To Curb Residential Property Speculation

Imposition of Sellers’ Stamp Duty
(‘SSD’)

In February 2010, the Government imposed SSD
for sellers who buy residential properties on/after
20 February 2010 and sell the properties within 1
year of acquisition.

The date of Purchase or Sale refers to the date
on which the Option to Purchase (‘OTP’) is
exercised or the date on which the Sale &
Purchase Agreement (‘SPA’) is signed, whichever
is earlier.

For instance, if A exercises an OTP on 25 Feb
2010 and proceeds to issue an OTP to B which is
exercised on 25 June 2010, A has to pay SSD. A
will not be liable for SSD only if he disposes of
the property on/after 25 Feb 2011.

On 30 August 2010, there was a further
announcement that SSD will be imposed on
residential properties which are purchased on/
after 30 August 2010 and sold within 3 years of
acquisition.

The SSD rates would be tiered according to the
duration of the holding period so the seller pays
the full conveyance rate if the property is sold
within the 1st year of purchase, 2/3 the amount if
the sale is in the 2nd year and 1/3 the amount if in
the 3rd year.

For instance, if C exercises an OTP on 20
September 2010 and proceeds to issue an OTP to
D which is exercised on 30 September 2011, he is
considered to have disposed of the property within
the 2nd year of purchase. So if he has sold the
property at S$ 1.5 million, he will be liable for SSD
of S$24,600, payable within 14 days from the
exercise of the Option.

Further Changes to SSD

On 13 January 2011, the Government yet again
announced the extension of the holding period for
imposition of SSD from 3 years to 4 years based
on new rates. These new rates apply to properties
purchased on/after 14 January 2011.

For properties disposed of within 1 year of
Purchase, SSD payable is 16% of the sale price or
the market value of the property, whichever is
higher.

For properties disposed of within 2 years of
Purchase, SSD payable is 12% of the sale price or
the market value of the property, whichever is
higher.

For properties disposed of within 3 years of
Purchase, SSD payable is 8% of the sale price or
the market value of the property, whichever is
higher.

For properties disposed of within 4 years of
Purchase, SSD payable is 4% of the sale price or
market value of the property, whichever is higher.
Of course, if the property were disposed of only 4
years after purchase, no SSD will be payable.

For instance, if E purchases a property for S$3
million on 18 January 2011 and subsequently
sells it to F for S$4 million on 16 January 2012.
E is liable for SSD amounting to S$640,000. E will
not need to pay SSD if he sells the property on or
after 18 January 2015.

The consideration or market value has to be
rounded up to the nearest $100 before applying
the stamp duty rates and SSD payable is to be
rounded down to the nearest dollar. Where only
part of the property is for residential use, only that
part relating to residential use is subject to SSD.

There are some exemptions however. For
example, residential property owners need not
pay SSD when selling their residential properties
due to bankruptcy or involuntary winding up.

For inherited residential properties, SSD will not
be payable by the estate of the deceased when
the property is passed to the beneficiary by Will or
by Law.

HDB flat owners who surrender their flats to HDB
because of break-up of fiancé/fiancée relation-
ships or annulment of marriages and separations/
divorces will also be exempt from payment of
SSD.

If the seller is liable but fails to pay SSD, the OTP or
SPA is not considered duly stamped even if the
buyer has already paid Buyer’s Stamp Duty. As
such, it is in the buyer’s interest to make sure the
seller pays the SSD.

Changes to Residential Property Loans

Those buying their first home will not be affected by
changes effected by the Monetary Authority of
Singapore (‘MAS’). Households/individuals
purchasing HDB flats for the first time will still be
able to borrow up to 90% of the Valuation Limit from
their financiers whereas households/individuals
purchasing private property for the first time can still
borrow up to 80% of the Valuation Limit.

Those who are purchasing a second home and
have paid up their first mortgage will also not be
affected. They will continue to be able to borrow up
to 80% of the Valuation Limit.

However, those who are considering purchase of a
second home and have a mortgage outstanding will
only be able to borrow 60% of the Valuation Limit
from their bank. Prior to the changes effective from
14 January 2011, it used to be that such
households could borrow up to 70% of the Valuation
Limit.

Finally, companies, trusts, funds and any other
types of purchasers which are not individuals have
to pay at least 50% of the property price upfront and
can borrow a maximum of 50% of the Valuation
Limit from their Bank, regardless of whether this is a
first purchase.

It used to be that for first purchases, these entities
could borrow up to 80% of the Valuation Limit or
70% of the Valuation Limit if there were an
outstanding mortgage.

More help for First-Time home buyers

2010-08-30T22:55:00.000+08:00

3Date issued : 30 Aug 2010

During the National Day Rally on 29 Aug 2010, PM Lee Hsien Loong announced several measures to ensure that public housing will always remain within the reach of Singaporeans who are buying their first home. This will be achieved by increasing housing supply and dampening demand from those who are not in urgent need of housing.

2This press release provides details of the measures to:

(a) Allow households earning between $8,000 and $10,000, to buy new DBSS flats with a $30,000 CPF Housing Grant;
(b) Increase the supply of new flats, Design, Build and Sell Scheme (DBSS) flats, and Executive Condominiums (EC);
(c) Shorten the completion time of Build-To-Order (BTO) flats;
(d) Increase the Minimum Occupation Period (MOP) for non-subsidised flats to 5 years; and
(e) Disallow concurrent ownership of both HDB flats and private residential properties within the MOP.
More Housing Supply and Choices for First-Time Home Buyers

3HDB will ramp up the supply of new flats, DBSS flats and ECs substantially to meet the housing needs of first-time homebuyers.

4HDB will be offering more than 16,000 new flats in 2010. If demand remains strong, HDB is prepared to launch up to 22,000 new flats in 2011. These numbers are substantial. Over two years, HDB will offer more new flats than the total flats in Toa Payoh town today (35,400 flats).

5In addition, HDB will release more land for tender in 2010 to yield an estimated supply of 3,000 DBSS 1 flats and 4,000 ECs. In 2011, HDB will release land sites for another 4,000 DBSS flats and 4,000 ECs, if demand is sustained. This injection of 7,000 DBSS flats and 8,000 ECs over two years is also significant. In comparison, 4,000 DBSS flats and 10,000 ECs have been launched for public sale so far.

6Currently, first-timer households with monthly income of between $8,000 and $10,000 may buy an EC with a CPF Housing Grant of $30,000. To widen their housing options, HDB will allow these households to buy new DBSS flats with a CPF Housing Grant of $30,000 2 Similar to the purchase of ECs, the HDB concessionary loan will not be available for these buyers. This revision will be applicable to DBSS projects launched for public sale after 30 Aug 2010.

7To help households get their new flats faster, HDB has also streamlined the BTO processes to allow flat buyers collect keys to their new homes 6 months earlier. Buyers of projects launched in mid-2011 onwards will generally need to wait for 2.5 years 3 to collect the keys instead of the current 3 years.

HDB Flats for Owner-Occupation

8HDB flats are meant for long-term owner-occupation. HDB will increase the Minimum Occupation Period (MOP) to reinforce this and dampen demand from those who are not in urgent need of housing.

9First, the MOP of non-subsidised flats for resale and subletting of flat will be increased from three to five years. Second, buyers of non-subsidised flats will be disallowed from concurrently owning both an HDB flat and a private residential property within the MOP 4. Private property owners who buy a non-subsidised HDB flat must now dispose of their private residential property within six months from the date of flat purchase. This will help ensure that buyers purchase HDB flats only when they have the intent of staying in it for long term and ensure equitable treatment for all HDB flat lessees during their MOP. Ownership of private properties by HDB lessees will be allowed after the MOP.

10The revised changes are summarised in Table 1, and will apply to resale transactions where applications are received by HDB from 30 Aug 2010 onwards.

Table 1: Changes for Non-subsidised Flats*

Current Revised
Resale 3 years 5 years
Subletting 3 years 5 years
Investment in Private Residential Property After Purchase of Non-Subsidised Flat No Restriction 5 years
Disposal of Existing Private Residential Property After Purchase of Non-Subsidised Flat Not Applicable Within 6 months from Date of Purchase
Note: * Resale flat bought without CPF housing grant. The MOP will be computed from the effective date of purchase of the non-subsidised flats.

Measures to maintain a stable and sustainable property market

2010-08-30T22:47:00.000+08:00

30 August 2010
Measures to maintain a stable and sustainable property market
The Government announced today the following measures to maintain a stable and sustainable property market:
a) Increase the holding period for imposition of Seller’s Stamp Duty (SSD) from the current one year to three years.

b) For property buyers who already have one or more outstanding housing loans1 at the time of the new housing purchase:

i Increase the minimum cash payment from 5% to 10% of the valuation limit2; and

ii Decrease the Loan-to-Value (LTV) limit for housing loans granted by financial institutions regulated by MAS to these buyers from the current 80% to 70%.

The measures will take immediate effect on 30 August 2010.
The Government's objective is to ensure a stable and sustainable property market where prices move in line with economic fundamentals. The property market is currently very buoyant. While the rate of price increase of private residential properties has moderated in the last 3 quarters, prices have still increased significantly by 11% in the first half of 2010, and price levels have now exceeded the historical peak in the second quarter of 1996.
While Singapore has enjoyed strong economic growth in the first half of 2010, our economic growth is expected to moderate in the second half of the year. There are also still uncertainties in the global economy. Should economic growth falter and the market corrects, property buyers could face capital losses, with implications on their own finances and the economy as a whole. Moreover, the current low global interest rate environment will not continue indefinitely, and higher interest rates could have severe implications for buyers who have overextended themselves. Therefore, the Government has decided to introduce additional measures now to temper sentiments and encourage greater financial prudence among property purchasers.
Extending the Holding Period for Imposition of Seller’s Stamp Duty (SSD) on Residential Properties Sold from 1 Year to 3 Years
The Government imposed in February 2010 a seller’s stamp duty (SSD) for sellers who buy residential properties3 on or after 20 February 2010 and sell them within a year of purchase.
For residential properties bought4 on or after 30 August 2010, SSD will be imposed if these properties are sold within three years of purchase. Specifically, the SSD levied on residential properties will be revised to as follows:
a) Sold within the first year of purchase, i.e. the property is held for 1 year or less from its purchase date – The full SSD rate (1% for the first $180,000 of the consideration, 2% for the next $180,000, and 3% for the balance) will be imposed.

b) Sold within the second year of purchase, i.e. the property is held for more than 1 year and up to 2 years – 2/3 of the full SSD rate.

c) Sold within the third year of purchase, i.e. the property is held for more than 2 years and up to 3 years – 1/3 of the full SSD rate.

No SSD will be payable by the vendor if the property is sold more than 3 years after it was bought. Please see Annex for examples of how the SSD will be computed.
The extended SSD will not affect HDB lessees as the required Minimum Occupation Period for HDB flats is at least 3 years.
IRAS will be releasing an updated e-tax guide on the circumstances under which SSD will apply and the procedures for paying SSD. The e-tax guide will be available at www.iras.gov.sg. Taxpayers with enquiries may call IRAS at 6351 3697 6351 3697 or 6351 3698 6351 3698 .
Increase the Minimum Cash Payment from 5% to 10% of the Valuation Limit for Property Purchasers with one or more outstanding Housing Loans
Previously, property buyers have to make cash payment of at least 5% of the valuation limit5. With effect from 30 Aug 20106, the cash payment is increased from 5% to 10% of the valuation limit7. This measure is applied only to buyers of private residential properties, Executive Condominiums, HUDC flats and HDB flats (including those under the Design, Build and Sell Scheme, or DBSS flats) who are taking housing loans from financial institutions regulated by MAS and who already have one or more outstanding housing loans at the time of applying for a housing loan for the new property purchase.
Decrease the LTV limit for housing loans granted by financial institutions regulated by MAS from the current 80% to 70% for Property Purchasers with one or more outstanding Housing Loans
The LTV limit is lowered from 80% to 70% with effect from 30 Aug 20108 for borrowers who have one or more outstanding housing loans (whether from HDB or a financial institution regulated by MAS) at the time of applying for a housing loan for the new property purchase. Borrowers who do not have any outstanding housing loans continue to have an LTV cap of 80%. These rules apply to housing loans granted by financial institutions for private residential properties, Executive Condominiums, HUDC flats and HDB flats (including DBSS flats).
Loans granted by HDB for HDB flats (including DBSS flats) will still have an LTV cap of 90%. HDB loans are offered to eligible first-time flat buyers and second-timers who are right-sizing their flats to meet their housing needs. They are required to utilise all of their CPF Ordinary Account balance before HDB loans will be granted. Furthermore, those taking a second concessionary HDB loan must use the CPF refund and 50% of the cash proceeds from the sale of their previous flat before they are granted an HDB loan. This is in line with HDB's home ownership policy of helping eligible buyers, especially first-time buyers, purchase public housing in a financially prudent manner.
Financial institutions' lending standards have remained prudent and the asset quality of housing loans has stayed robust, with the non-performing loans ratio at less than 1% as at Q2 2010. Nonetheless, there are signs that more housing loans are originating at higher LTV bands of above 70%. In line with the objective of ensuring a stable and sustainable property market, lowering the LTV limit sends a clear signal to financial institutions to maintain credit standards, and encourages greater financial prudence among property purchasers already servicing one or more outstanding housing loans.
Adequate Supply in the Pipeline
The Government will also continue to ensure that there is adequate supply of housing to meet demand. In the second half 2010 GLS Programme, we have made available sites that can yield about 13,900 private housing units, of which about 8,100 units will be from sites on the Confirmed List. This is the highest potential supply quantum in the history of the GLS Programme. We will inject an even larger supply of private housing in the first half 2011 GLS Programme, if demand continues to be strong.
Apart from the supply from the GLS Programme, there are also 61,800 uncompleted units of private housing from projects in the pipeline as at 2Q20109. Of these, 32,600 units were available or could be made available for sale. These comprised units that had been launched for sale by developers, units that had pre-requisite conditions for sale10 and which could be launched for sale immediately, as well as units with planning approvals for which pre-requisite conditions for sale could be obtained quickly from the Government and made available for sale11.
The Government will continue to monitor the property market closely and will introduce additional measures if required later, to promote a stable and sustainable property market.
Issued by the Ministry of National Development, Ministry of Finance and Monetary Authority of Singapore
________________________________________
1 Financial institutions are required to conduct checks with HDB and with one or more credit bureaus on whether the buyer has an outstanding housing loan at the time of applying for a housing loan for the new property purchase. For joint buyers, if either buyer has an outstanding housing loan, the joint buyers will be considered as having an outstanding housing loan.
2 This is in addition to the cash over valuation amount that has to be paid in cash
3 The SSD will apply to the transfer or disposal of interest (including sale and gifts) of residential lands and residential units (whether completed or uncompleted).
4 The date of purchase for computation of the holding period for SSD shall be the date when a buyer (i.e. Buyer A) exercises the option to purchase the property, or signs the sale and purchase agreement, whichever is earlier. The date of resale of the property shall be the date when the subsequent buyer (i.e. Buyer B) exercises the option to purchase the property from Buyer A, or signs the sale and purchase agreement, whichever is earlier.
5 The amount of CPF monies plus housing loan taken for the purchase of the property cannot exceed 95% of the valuation limit (defined as the lower of property value or property price).
6 The 10% minimum cash payment will apply to transactions where the date on which the option to purchase (OTP) was granted falls on or after 30 August 2010; or if there is no OTP, where the date of the sale and purchase agreement falls on or after 30 August 2010.
7 Therefore, the amount of CPF monies plus housing loan that can be used for the purchase of the property will be reduced from 95% to 90%.
8 The 70% LTV limit will apply to transactions where the date on which the option to purchase (OTP) was granted falls on or after 30 August 2010; or if there is no OTP, where the date of the sale and purchase agreement falls on or after 30 August 2010.
9 These refer to new development and redevelopment projects with planning approvals, i.e. either a Provisional Permission (PP) or Written Permission (WP).
10 These refer to private residential developments with Housing Developer Licence and Building Plan Approval. Under the Housing Developer (Control and Licensing) Act, a sale licence must be obtained for a project with more than 4 units, if the developer intends to sell uncompleted residential units in the development. However, the sale of the residential units can only commence with the approval of the building plans of the development.
11 These refer to uncompleted private residential developments without pre-requisites for sale but with WP or PP granted. The sale licences could be obtained within 5 working days and building plan approvals could be obtained within 7 working days from the date of application for cases where clearances from various technical agencies are obtained and relevant documents are in order during formal submissions.

Tribeca by the Waterfront

2010-07-20T20:06:00.007+08:00

Studio 570sqft

CALL Boon Hin 96384602 for more detail

studio : 517sqft and 570sqft

2 bedrooms : 1033sqft

3 bedrooms : 1367sqft and 1378sqft

3+1, bedrooms : 1765sqft apartment with private lift lobby overlooking Singapore River !!!

4 bedrooms : 1905 sqft apartment with private lift lobby overlooking Singapore River !!!

Tribeca by The Waterfront is a freehold condominium development located at 60, Kim Seng Road (S)239497 in District 09 near Tiong Bahru MRT station.

Completed in 2010, it comprises 175 units. It is located in the vicinity of Mirage Tower and Grand Copthorne Waterfront Hotel.

This lovely unit with private lift lobby faces the Singapore River.

Condo Facilities at Tribeca by The Waterfront

Tribeca by The Waterfront has full condo facilities which include bbq pits, jacuzzi, tennis courts, clubhouse, gymnasium, swimming pool, carparking and 24-hr security.

Condo Amenities near Tribeca by The Waterfront
Tribeca by The Waterfront is located just minutes drive away from Great World City, where a host of amenities are readily available, such as retail outlets, supermarkets, restaurants and eating establishments, banks, cinemas and other entertainment facilities.

There are schools located in the vicinity : Outram Secondary School and River Valley Primary School

Recreational facilities nearby include the Tiong Bahru Park and Delta Swimming Complex which is just a short drive away.

For vehicle owners, travelling to the business hub from Tribeca by The Waterfront n takes just above 05 minutes, via Havelock Road.

Development Name: Tribeca by the Waterfront

Property Type: Condominium, Studio, 2, 3, 3+1, 4 bedroom and Penthouse

Developer: City Developments Limited

Tenure: FreeholdConstruction Year: 2009

# of Floors: 30# of Units: 175

The Teneriffe

2010-05-11T09:41:00.005+08:00

New listing, Don't Miss

Modern Cluster Housing among the greenary Area of 6th Avenue, rarely available facing the green, very suitable for family with kids, most popular among the expats family.

5 bedroom,Facing Greenery. 3200 sqft, ASKING PRICE $11K ONLY!!!

Available Immediately ....................

Cluster Housing @ LAUREL WOOD AVE.

Total of 148 cluster houses with large interior space

Recreational Facilities :
Swimming Pool,
Gym,
BBQ,
Pool Table,
Pool side Lounge and
Children's Playground.

Sales - Oasis @ Elias Road stack 06 and stack 10

2010-03-03T20:37:00.008+08:00

Stack 06Stack 10

Sales - Southbank - 1, 2, 3, rooms and Penthouse

2010-03-03T20:27:00.007+08:00

Sales - Concurse Skyline stack 06 - Millions Dollars View

2010-03-03T20:14:00.006+08:00

3 bedroom for sales stack 06

Front - Millions Dollars View

Back view

Site Plan

The Vision @ West Coast

2010-02-08T12:01:00.009+08:00

Call Boon Hin @ 96384602

Call Boon Hin @ 96384602

Sales - Studio @ Ansley

2010-02-02T15:01:00.010+08:00

The Ansley (D11)
Freehold Condominium
Kheng Leong Co Pte Ltd
25 storey, 100 units
Swimming pool, gym, tennis court, basement car park
Construction year 2004
Less than 15 min to Novena MRT
Private Lift, 732 sqft
Asking S$880k no bay windows

Sold - Studio @ The Richmond

2010-02-02T14:12:00.017+08:00

Freehold Studio Condominium (D12)
Developer : Trio - United Realty Pte Ltd
Construction year : 1999
No. of units : 38
1 year Tenancy End on 15 Sept 2010
Asking 786sqft/S$ 628k Negotiable

•BBQ pits
•Swimming pool /Wading pool
•Children Playground
•Basement car park
• Boon Keng MRT Station (0.62 km)
•Potong Pasir MRT Station (0.91 km)
•Kallang MRT Station (1.68 km)

seller’s stamp duty (SSD)

2010-02-01T21:26:00.000+08:00

In February 2010, the Government imposed a seller’s stamp duty (SSD) on sellers who buy (or acquire) residential properties on or after 20 February 2010 and sell (or disposed of) them within one year of acquisition.

The amount of SSD is computed based on the same rates as the buyer's stamp duty.

On 30 Aug 2010, the Government further announced that SSD will be payable on residential properties which are acquired (or purchased) on or after 30 Aug 2010 and disposed of (or sold) within 3 years of acquisition. The amount of SSD for the holding period of 1 year is computed based on the same rates as the buyer's stamp duty, but will be reduced to 2/3 and 1/3 of the amount of buyer's stamp duty for holding period of 2 years and 3 years respectively.

On 13 January 2011, the Government announced the extension of the holding period for imposition of SSD on residential properties from 3 years to 4 years based on new rates. The new SSD rates will be imposed on residential properties which are acquired (or purchased) on or after 14 January 2011 and disposed of (or sold) within 4 years of acquisition, as follows :

Holding period of 1 year : 16% of price or market value, whichever is higher
Holding period of 2 years : 12% of price or market value, whichever is higher
Holding period of 3 years : 8% of price or market value, whichever is higher
Holding period of 4 years : 4% of price or market value, whichever is higher

Properties acquired before 20 Feb 2010 will not be subject to SSD.

New Launch Centennia Suites @ D9

2010-02-01T19:06:00.007+08:00

Call Boon Hin @ 96384602