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Prices Grow Sustainably In “Sober” Market

Prices Grow Sustainably In “Sober” Market

The Managing Director of the Monetary Authority of Singapore (MAS), Mr Ravi Menon, commented on Singapore’s real estate market and the much-discussed cooling measures recently at a press conference on the release of MAS’ annual report on 27 June. Mr Menon said that Singapore’s property market is now “more sober” after the introduction of cooling measures in July of 2018, and that there were early signs of slower price increases and lower transaction volumes. He added that the measures still need time to work their way through and there is no need to shift gears significantly at this...

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Sotheby’s Announces Definitive Agreement To Be Acquired by Billionaire

Sotheby’s Announces Definitive Agreement To Be Acquired by Billionaire

The oldest listed company trading on the New York Stock Exchange (BID) will be taken private after 31 years. On 16 June 2019, Sotheby’s (NYSE: BID) announced that it has signed a definitive merger agreement to be acquired by BidFair USA, an entity wholly owned by French media and telecom entrepreneur as well as art collector, Patrick Drahi for US$3.7 billion. The price tag marks a hefty 61 per cent premium to Sotheby’s close price the session prior, and shares of Sotheby’s spiked nearly 60 per cent after the announcement. Patrick Drahi owns 60 per cent of the stock of Altice NV, based in th...

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New & Notable Luxury Properties For Sale Over $20 Million

New & Notable Luxury Properties For Sale Over $20 Million

From the former estate of Jordan’s king and queen on the Potomac in Maryland to an elegant waterfront home in Sydney, these are four featured notable properties for sale over $20 million. Potomac, Maryland |  Michael Rankin ,  TTR Sotheby’s International Realty   Sited at the top of a gentle knoll on the banks of the Potomac River sits an elegant château clad in French limestone. This mansion was the formal estate of Jordan’s King Hussein and Queen Noor. The main parcel and structure were acquired from the King and Queen in 2000. Subsequently, the owner has thoughtfu...

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Foreigners Eligible for ABSD Remission under FTAs

Foreigners Eligible for ABSD Remission under FTAs

The current rate of the Additional Buyer’s Stamp Duty (ABSD) levied when foreigners purchase any residential properties in Singapore is 20%. For Singapore Citizens, there is no ABSD on their first residential property. For the second residential property, the ABSD rate is 12% and 15% for their third and any subsequent residential properties. Singapore Permanent Residents (SPRs) will be charged 5% ABSD on their first property and 15% for their second and subsequent residential properties. However, Nationals or Permanent Residents of five countries will be accorded...

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Government Land Sales H2 2019

Government Land Sales H2 2019

Urban Redevelopment Authority (URA) released the land sales programme for H2 2019 on 6 June 2019. Five residential sites will be offered for sale, similar to the number offered in the H1 2019 Confirmed List. The five sites offered in H2 2019 are expected to yield 1,715 residential units, fewer than the 2,025 units expected for the five sites offered in H1 2019. The 15% reduction in the confirmed supply of residential units for the sites in H2 2019 shows that the government is aware of the current slowdown in the residential market. The overall take-up rate of new projects launched since Jan...

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SIR Global Networking Event 2019

SIR Global Networking Event 2019

Sotheby’s International Realty hosted the annual Global Networking Event in Vancouver, Canada, May 13-15, welcoming nearly 2,000 members of the Sotheby’s International Realty® brand from 35 countries. Johnson Goh, List Sotheby’s International Realty’s Chief Marketing Officer (Asia Region), attended the networking event. Only Sotheby’s International Realty New brand marketing campaign Only The Next Level event introduced  Only ,  a new brand marketing campaign that highlights the spirit and crystallisation of the exceptional core values of the  Sotheb...

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8 Ideas For Transforming An Extra Room

8 Ideas For Transforming An Extra Room

Much like petits fours at the end of a delicious meal, an auxiliary room can often sweeten the deal when deciding on a property to add to your portfolio. Whether for business, in the case of a home office, or pleasure via a home theater, make the most of the extra square footage by introducing one of these additions to your home. For the Socializer: The Keeping Room Berkley, California | Herman Chan,  Golden Gate Sotheby’s International Realty The name “keeping room” comes from the Colonial era when homes were smaller in size, and many families “kept” warm by huddling around...

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List Sotheby's International Realty Singapore Wins Big

List Sotheby's International Realty Singapore Wins Big

At the Asia Pacific Property Awards 2019 – 2020 , List Sotheby’s International Realty, Singapore won a total of 4 awards and emerged as the biggest winner in terms of number of wins among the real estate agencies in Singapore. The agency was named a 5-Star Winner, the top award attainable in each category, in the  Real Estate Agency Marketing  and  Real Estate Agency Website  categories. Two other national awards were for the  Real Estate Agency (Single Office)  and  Development Marketing (for Melbourne Square) . List Sotheby’s International Realty (List...

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Funding Homes For Life

Funding Homes For Life

The Singapore Government has updated rules on the use of CPF  to purchase properties – both private properties and HDB flats – as well as the rules on HDB housing loans with effect from 10 May 2019. The objective is to enable Singaporeans to have more flexibility in purchasing a home, while safeguarding their housing needs in their retirement.  Restrictions on the use of CPF will be imposed if the remaining lease of the property cannot cover the youngest buyer until at least the age of 95. According to a joint media release by the Ministry of National Development (MND) and Ministry of M...

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In A Class Of Its Own

In A Class Of Its Own

The Beach Road precinct is fast becoming one of Singapore’s new prime areas. One of the most distinguishable developments that sits right in the heart of that precinct is Concourse Skyline.  Designed by the award-winning COX Group, Concourse Skyline is a mixed-used development comprising two high-rise block and one low-rise block. To-date, there are only a very limited number of two- to four-bedroom apartments still available for ownership. The developer of Concourse Skyline is public-listed Hong Fok Corporation Limited (Hong Fok), and they have just unveiled the development’s cro...

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