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Saturday, December 31, 2011
Tuesday, December 27, 2011
Singapore Property Market | Singapore Tax Rates | Singapore Stamp DutyHike | New strategies needed after Singapore’s latest property curbs.
Posted on 27 December 2011 - 05:36am
Eva Yeong
sunbiz@thesundaily.com
PETALING JAYA (Dec 27, 2011): Malaysian property developers with projects in Singapore will have to rethink their strategy, including selling more to Singaporeans, after the island nation came out with a new ruling on additional tax for foreign buyers early this month, said Ho Chin Soon Research Sdn Bhd director Ho Chin Soon.
"There is a big effect because for the top brands (of Malaysian property developers) who are there, the buyers are mostly Malaysian buyers who follow their brand. Malaysian developers with projects there now need to change their strategy and sell to Singaporeans," he said.
On Dec 7, the Singapore government announced an additional stamp duty of 10% on the value of residential properties sold to foreign buyers in a bid to cool down the property market, as well as a 3% tax on permanent residents and citizens who buy a second or third home.
Among the big local property players with exposure to Singapore properties are SP Setia Bhd, Selangor Dredging Bhd, IOI Corp Bhd and YTL Land and Development Bhd.
Ho said the new ruling also affects Singaporean property developers who also depend on foreign buyers, especially those from mainland China who make up a sizeable portion of foreign property buyers in the republic.
"Nobody is happy about it," he said.
However, S P Setia Bhd president and CEO Tan Sri Liew Kee Sin had earlier said the company does not expect the new measures to affect its property sales in Singapore as 70% of its buyers are local upgraders.
The additional stamp duty is expected to help cool investment demand for private residential properties, especially from non-resident foreigners, and avoid the possibility of a major correction in the future.
It was reported that foreign purchases in Singapore accounted for 19% of all private residential property purchases in the second half of this year, reflecting a 7% increase from the first half of 2009.
However, demand from non-resident foreigners is expected to dry up quickly with the new measures in place.
Back to Main Page: www.VulcanInternational.blogspot.com
Eva Yeong
sunbiz@thesundaily.com
PETALING JAYA (Dec 27, 2011): Malaysian property developers with projects in Singapore will have to rethink their strategy, including selling more to Singaporeans, after the island nation came out with a new ruling on additional tax for foreign buyers early this month, said Ho Chin Soon Research Sdn Bhd director Ho Chin Soon.
"There is a big effect because for the top brands (of Malaysian property developers) who are there, the buyers are mostly Malaysian buyers who follow their brand. Malaysian developers with projects there now need to change their strategy and sell to Singaporeans," he said.
On Dec 7, the Singapore government announced an additional stamp duty of 10% on the value of residential properties sold to foreign buyers in a bid to cool down the property market, as well as a 3% tax on permanent residents and citizens who buy a second or third home.
Among the big local property players with exposure to Singapore properties are SP Setia Bhd, Selangor Dredging Bhd, IOI Corp Bhd and YTL Land and Development Bhd.
Ho said the new ruling also affects Singaporean property developers who also depend on foreign buyers, especially those from mainland China who make up a sizeable portion of foreign property buyers in the republic.
"Nobody is happy about it," he said.
However, S P Setia Bhd president and CEO Tan Sri Liew Kee Sin had earlier said the company does not expect the new measures to affect its property sales in Singapore as 70% of its buyers are local upgraders.
The additional stamp duty is expected to help cool investment demand for private residential properties, especially from non-resident foreigners, and avoid the possibility of a major correction in the future.
It was reported that foreign purchases in Singapore accounted for 19% of all private residential property purchases in the second half of this year, reflecting a 7% increase from the first half of 2009.
However, demand from non-resident foreigners is expected to dry up quickly with the new measures in place.
Back to Main Page: www.VulcanInternational.blogspot.com
Thursday, December 22, 2011
Sunday, December 18, 2011
Microsoft Knowledge Base | Internet Explorer : Known issue on browsing at this site.
This site supports all major web browsers. Note that for Internet Explorer(IE) prior to IE 9 the frameset attribute is not been supported.
That's the reason when browse with IE prior to IE 9 the 2nd frame(where the Customer Survey and all the links) is been append below blog instead of by the side of blog.
To resolve IE issue, upgrade to IE 9. Take note that your computer OSes should be Windows Vista/7 onwards.
That's the reason when browse with IE prior to IE 9 the 2nd frame(where the Customer Survey and all the links) is been append below blog instead of by the side of blog.
To resolve IE issue, upgrade to IE 9. Take note that your computer OSes should be Windows Vista/7 onwards.
Back to Main Page: www.VulcanInternational.blogspot.com
Penang Shopping | Penang Mall | Island Plaza Penang: Retail lots
With renovation of Penang Island Plaza shopping complex going on and expected to complete soon, it's retail lots are now opening for rent.
For prospect tenants that are interested do call Vulcan Lau, mobile: +6 016 451 1321 for more details.
Book early to avoid disappointments.
For prospect tenants that are interested do call Vulcan Lau, mobile: +6 016 451 1321 for more details.
Book early to avoid disappointments.
Back to Main Page: www.VulcanInternational.blogspot.com
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