July 2022

How rate hikes hit developers and homebuyers

It’s the season for rate hikes. This Wednesday (July 27) the Federal Reserve raised another 0.75 basis point for second consecutive month. It vowed to go for more rate hikes to fight the battle against inflation. Taking the hint from the Fed, Singapore banks are likely to follow suit to raise rates like the previous... [read more]

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Hougang HDB flat first in its estate to sell for more than S$1m

An executive apartment in Hougang Central was just sold for S$1.073 million, marking it as the first of its kind in the non-mature estate of Hougang to transact for over a million dollars.  Kum Soon Ho, an agent with Propnex, facilitated the transaction. He shared that the unit was on the open market for less…

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Property agent confessions on closing deals for the ultra HNWI 

Recently, we’ve heard about Crazy Rich Asian kind of property purchases by ultra high-net-worth individuals in Singapore.  This is as the world is seeing an increasing number of the ultra HNWI — a 9.3% increase from 558,828 in 2020 to 610,569 in 2021. Ultra high-net-worth individuals refer to those with a net worth of at…

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Park View Mansions sold for S$260 million to a team of developers

Singapore-listed Chip Eng Seng, KSH Holdings and SingHaiyi Group have teamed up in a joint tender to acquire Park View Mansions for S$260 million. Earlier this week, Euro-Asia Apartments at Serangoon Road was sold to KSH Ultra Unity Pte Ltd, an indirect subsidiary of KSH Holdings, for S$222.18 million, above its guide price of S$218 million.  The joint venture…

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