Market Watch

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More Teeth To Counter The Impact of COVID-19

More Teeth To Counter The Impact of COVID-19

The government has announced a second assistance package in response to the COVID-19 outbreak. Preliminary figures showed that the Singapore economy shrunk by 2.2% year-on year in the first quarter of 2020, “the worst contraction since independence”, as described by the Finance Minister, Mr Heng Swee Keat. He unveiled an unmatched S$48 billion package of measures to provide additional support for businesses and individuals – with a special focus on those hardest-hit by the coronavirus pandemic, as well as to fortify economic and social resilience. Companies will get an automatic deferm...

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Luxury Zone: Ardmore/Draycott and Orchard Boulevard/ Nassim Enclaves

Luxury Zone: Ardmore/Draycott and Orchard Boulevard/ Nassim Enclaves

As a small island state, Singapore has a limited land resource. As a result, the value of land and the price of apartment projects have been rising steadily over the years. Luxury housing in prime residential enclaves are often well sought after by high-net-worth investors. The Core Central Region (CCR) consists of three main areas – districts 9, 10, 11, the Downtown Core and Sentosa. The CCR is largely constituted by the Central Business District (CBD) and the finest shopping belt at Orchard Road, where major commercial buildings, large-scale shopping malls and hotels can be fo...

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Facing The Unknown: Singapore Property Market vs. Covid-19

Facing The Unknown: Singapore Property Market vs. Covid-19

Residential market As the curtains fell on 2019, real estate watchers in Singapore were looking forward to a brighter year ahead for the property market. With the deadline for the UK to leave the European Union fixed on 31 January 2020, and trade negotiations between China and the US turning more favourable, developers were looking to sell more new homes than the 9,900 units sold in 2019. Overall home prices have also gained 2.7% through the year, supported by strong pricing of projects in the Rest of Central Region (RCR) and Outside Central Region (OCR). Prices in the Core Central Region...

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The Breakfast Club | Six Cozy Kitchen Nooks

The Breakfast Club | Six Cozy Kitchen Nooks

Designed for sunlit lounging and effortless day-to-day dining, these delightful breakfast nooks feature convenient banquettes, bright view windows, and distinctive style that make them appealing any time of day. Classic Style in Russian Hill San Francisco, California |  Gregg Lynn ,  Sotheby’s International Realty – San Francisco Brokerage Near the top of an iconic cooperative building in San Francisco’s Russian Hill, this residence boasts generously proportioned spaces, including formal living and dining rooms, an art gallery, and five tranquil bedrooms. The spacious kitchen...

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Dreams Do Come True in These Bedrooms with a View

Dreams Do Come True in These Bedrooms with a View

It’s hard to wake up on the wrong side of the bed when your lavish private suite has a vista of city lights, mountains, vineyards, sunsets, or the sea. Green Valley Ranch Napa, California | Ginger Martin,  Sotheby’s International Realty – Wine Country – East Napa Street Brokerage Minutes from downtown Napa, this idyllic 950-acre ranch is a one-of-a-kind retreat that is an ideal backdrop for entertaining, relaxation, gardening, and leisurely sports activities, including hiking and horseback riding. Throughout the residences—the Ranch House, the Lake House, the Meadow House, and...

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Development Charge Rates Reduced From 1 March 2020

Development Charge Rates Reduced From 1 March 2020

Development charge (DC) is a tax that is levied when planning permission is granted to carry out development projects that increase the value of the land either through rezoning to a higher land use or the increase in plot ratio or both. The development charge rates are revised every six months on 1 March and 1 September, in consultation with the Chief valuer (CV) of the Inland Revenue Authority (IRAS). DC rates are based on the CV’s assessment of land values taking into account the evidence of recent land sales. They are laid out according to the use groups of Commercial (A), Residen...

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Brand Performance 2019: Record $114 Billion in Global Sales Volume

Brand Performance 2019: Record $114 Billion in Global Sales Volume

The affiliated brokers and sales professionals at Sotheby’s International Realty had redefined the highest standards of service once again. In 2019, the network achieved more than $114 billion USD in global sales volume, the highest annual sales volume performance in the history of the brand. Of which, $102 billion USD of the global sales volume was achieved in the U.S., marking another record accomplishment for the brand. Outside the U.S. the Sotheby’s International Realty brand achieved more than $12 billion USD in sales volume and continued to expand into key markets around the world. In...

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A New Lifestyle Experience

A New Lifestyle Experience

For the first time ever, there is going to be a new type of real estate approach set to disrupt the entire property landscape with the launch of the XT brand. The XT brand is introduced by Sansiri, one of the top developers in Thailand with the hopes to differentiate a new line of condominium developments from the existing condominiums in the market. Designed with the millennials in mind, the XT brand aims to allow residents to experience every facets of life that the world has to offer. Recognising the change in the way of work, play and discovery, the XT brand will cater to the evolvin...

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Re-positioning For 2020

Re-positioning For 2020

2019: Year in review Following the cooling measures of July 2018, sales momentum in the residential market slowed down. The economic outlook for the year was dampened by the US-China trade war & Brexit stalemate. Developers built up a strong inventory of new projects from en bloc sales of older developments and government land sales program. This unsold inventory has ballooned from a low 19,000 units to nearly 35,000 units at the beginning of 2019. Developers launched 29% more new homes for sale in 2019 than 2018. New projects drove home sales up by 13% in 2019. Home demand...

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Thriving Thong Lor

Thriving Thong Lor

Few of Bangkok’s neighbourhood have changed quite as much in recent years as Sukhumvit Soi 55, or Thong Lor, as it is popularly know. A section of Bangkok in the Watthana district on the north side of Sukhumvit, Thong Lor is more than just a chic residential area for the well-heeled cosmopolitan. The upscale neighbourhood also draws crowds with great bars, cool cafes and some of the most happening establishments that come with them. As one of Bangkok’s most thriving area, Thong Lor is one of the preferred neighbourhood for the city’s property developers. Apart from...

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