Two new rules have been rolled out in an attempt to curb speculation in the private property market and stabilize prices.
- Lending institutions can lend only up to 80% of the value of the property
- Stamp duty of 3% will be levied on those who sell the property within a year of buying it
*Note: This post is now sticky! Check below for updates!
Singapore was ranked 23 out of 144 countries in the Global Peace Index (GPI). Achieving a score of 1.533 out of 5 (the lower the score, the more peaceful the country), this year’s showing is 6 places higher than in 2008. It is the second most peaceful country in Asia, preceded only by Japan. New Zealand, Denmark and Norway form the three most peaceful countries in the world. Conducted by the Economist Intelligence Unit, this is the third edition of the GPI – a study that ranks countries around the world according to their peacefulness and the drivers that create and sustain their peace.
I realized soon after writing a post about how much you can expect to pay for your initial HDB rental payments and the new HDB registration law, I should actually go into the rental procedure itself. Well, it looks like I finally got round to it! It’s not a complicated procedure, and I’m sure you’ll be able to wrap your arms around it in no time.
Let’s start with the things you’ll have to bring along:
- Photocopied passport
- Photocopied employment pass
- Good faith deposit of one month rental
The Straits Times reported yesterday that the median Cash-over-valuation (COV) for HDB flats hit a new high in the fourth quarter of 2009. COVs are cash premiums that a buyer has to pay over the bank’s valuation of the flat. Why do we have to pay a COV, you might ask.
#70 in Quality of Life Index
International Living magazine ranked Singapore 70 out of 194 countries in its Quality of Life Index. The index used nine categories to for its rankings, and here are Singapore’s scores:
Good Class Bungalows (GCBs) are the crème de la crème of Singapore real estate. Typically among the most expensive homes, they provide their owners with the semblance of a sanctuary in land-scarce Singapore. Their popularity can be attributed to the government’s efforts to keep them as exclusive as possible through the use of stringent regulation and controls. The following should come to mind the next time you hear the term ‘GCB’: