SALES of Singapore apartments worth at least S$10 million have hit an 11-year high, fuelled by increased demand from Chinese millionaires seeking safe-haven assets. Mainland Chinese are the biggest group of foreign buyers of luxury homes in Singapore.
The Housing Development Board (HDB) and the Ministry of National Development (MND) recently announced the enhanced housing grant as a replacement to the additional CPF housing grant and the special CPF housing grant, which will result in the gradual bottoming and increased stability in the HDB resale market.
Singapore saw new condo sales volume rose 30.6 percent quarter-on-quarter to 2,246 units in the second quarter of 2019, while resale volume climbed 18.2 percent to 1,966 units. This brings total sales volume for Q2 to 4,212 units or the highest since Q3 2018 when the government rolled additional cooling measures.
Australia's housing market is showing further signs of recovery, thanks to a surge in the number of people who are borrowing — and taking out bigger mortgages. It was driven, in particular, by owner-occupiers (excluding those who are refinancing). The amount of money they borrowed rose 5.3 per cent to $13.3 billion since the previous month, seasonally adjusted — the strongest result since August 2015.
The prospect of having public housing on the plum Keppel Club site after its lease expires in two years has excited property market watchers. Prime Minister Lee Hsien Loong said at the National Day Rally on Sunday that the Keppel Club site has enough land for 9,000 homes - HDB and private housing with waterfront promenades, greenery and open spaces.