Singapore Property News This Week #50

Residential

ABSD reimbursing may be a cause for concern

To prevent the ABSD from affecting sales, developers have been offering discounts, rebates and even reimbursing the ABSD. This may potentially distort property and loan values and obscure transparency in the market especially since these discounts are given only after the transaction, meaning that the prices may not be reflected in sale caveats. While the Ministry of National Development (MND) has yet to step in, it stated that it is watching the market closely and will intervene when needed. The Monetary Authority of Singapore (MAS) also stated that any rebates or discounts received from the seller or any other party in the transaction must be declared when apply for home loans.

NUS SRPI sub-index for small apartments grew the most in March

The NUS Singapore Residential Price Index (SRPI) sub-index for small apartments/condo units (up to 506 square feet) increased by …