January 2022

With Shun Tak walking away from High Point, what does it mean for en bloc deals?

Just two weeks after Hong Kong-listed conglomerate Shun Tak Holdings won the S$556.7 million tender for High Point on Dec 9, it pulled out of the purchase without explanation. By doing so, they forfeited their S$1 million tender deposit. Shun Tak would not have been affected by the change in Additional Buyer’s Stamp Duty (ABSD) as...

The post With Shun Tak walking away from High Point, what does it mean for en bloc deals? appeared first on 99.co.

New private home sales declined 58% month-on-month after December 16 cooling measure

With the introduction of cooling measures and social distancing restrictions on year-end festivities, December 2021’s developer sales (excluding Executive Condominiums, or ECs) declined 58% month-on-month to 650 units. On a year-on-year basis, developer sales were also down 46.6%, which is about half of December 2020’s volume (1,217 units). At that time, sales were then boosted...

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Buying properties in trust – What does it mean for property owners with children in light of the cooling measures?

Some people purchase properties to live in, while others buy them as investment pieces. For the latter, they usually have to contend with taxes and duties such as Additional Buyer’s Stamp Duty (ABSD).  Mid-December 2021, the government announced a slew of cooling measures intended to dampen the exuberance in the property market.  Measures include ABSD increases...

The post Buying properties in trust – What does it mean for property owners with children in light of the cooling measures? appeared first on 99.co.

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