Daily Archives: 8 Oct 2009

Total land sales revenue down by 41% to S$7.3b in FY2008-2009

Posted on 8 Oct 2009 | Comments Off on Total land sales revenue down by 41% to S$7.3b in FY2008-2009

Revenue from government land sales fell 41 per cent to S$7.3 billion in the last fiscal year ended March 2009.

But analysts said despite the decline for the full year, land prices have actually risen 30 per cent in the past six months and there are some concerns that this could lead to another property bubble.

Showflats have been packing in the crowds for many months now.

Demand for land has also picked up, with more plots released for tender since April this year.

Analysts expect demand for land to grow in 2010 on the back of more positive market sentiment and developers looking to beef up their land bank.

In the first quarter next year, observers said the government could release more strategic sites at Jurong Lake District, Kallang Waterfront and Rochor/Ophir Road.

And when the government brings back the Confirmed List of sites in the first half of next year, more land will be on the market.

According to market watchers, the net effect is that revenues from such sales are likely to stay around S$7 billion in the current fiscal year to March 2010, similar to last year. Continue reading →

Comments Off on Total land sales revenue down by 41% to S$7.3b in FY2008-2009

Posted in Property Market / Real Estate

Tagged , ,

Latest Housing Loan Packages from Standard Chartered Bank

Posted on 8 Oct 2009 | Comments Off on Latest Housing Loan Packages from Standard Chartered Bank

HOUSING LOAN PACKAGES (80%) (1 – 31 October 09)

Fixed Rate
( 1-Year Lock in )		 Floating Rate
( 1-Year Lock in )		 Floating Rate
( No Lock in )
Year 1 1.70% (Fixed) 3M SIBOR + 1.20% 3M SIBOR + 1.30%
Year 2 3M SIBOR + 1.30% 3M SIBOR + 1.30% 3M SIBOR + 1.30%
Thereafter 3M SIBOR + 1.30% 3M SIBOR + 1.30% 3M SIBOR + 1.30%

SIBOR stands for Singapore Interbank Offered Rate and is the benchmark for interest rates in Singapore. If your loan is pegged to SIBOR, you can rest assured that your mortgage pricing will always reflect market conditions. Choose a 3-month tenure if you want to closely follow the market, or choose a 12-month tenure if you want more stability in your monthly instalments.

As at 1st September 2009, 3-month SIBOR was at 0.68% and 12-month SIBOR was at 0.906%.

HOUSING LOAN PACKAGES (85%) (1 – 31 October 09)

Fixed Rate
( 1-Year Lock in )		 Floating Rate
( 1-Year Lock in )		 Floating Rate
( No Lock in )
Year 1 2.30% (Fixed) 3M SIBOR + 1.80% 3M SIBOR + 1.90%
Year 2 3M SIBOR + 1.90% 3M SIBOR + 1.90% 3M SIBOR + 1.90%
Thereafter 3M SIBOR + 1.90% 3M SIBOR + 1.90% 3M SIBOR + 1.90%

Benefits

  1. Legal subsidy of 0.50% of the loan amount capped at $2,000
  2. Free fire insurance throughout the loan tenure for HDB properties
  3. Free fire insurance for the first year for Private properties
  4. One time Free conversion (for no lock-in package)

Source : Standard Chartered Bank – 8 Oct 2009

Comments Off on Latest Housing Loan Packages from Standard Chartered Bank

Posted in Loan / Mortgage / Finance, Loan Packages

Tagged , , , , , , ,