2017 Roundup: 9 property news headlines that shook the market

2017 Roundup: 9 property news headlines that shook the market

2017 Roundup: 9 property news headlines that shook the market

As far as the property market is concerned, it is absolutely a colorful and intriguing year. In this short article, we take you back to the 9 property news that shook like a storm, the local property development!

Yishun turns (in)famous

Yishun is known to be a perfectly ordinary neighborhood which was famous for its delicacy such as Chongpang nasi lemak. But this was in the past,  currently, it made a controversy, creating headlines which destroy their reputation such as rat problems, murders, suicides and cat killings.  Now, it is considered as one of the most horrible places to live in Singapore.

Alteration of the Seller Stamp Duty

In March of 2017,  big changes in the rules and policies of Total Debt Servicing Ratio (TDSR) and  Seller Stamp Duty (SSD) were done. In case you are buyer or homeowner then this isn’t your concern but if a property investor for short -term, absolutely, you’ll stand to win something over updates in this development news.

Lowering of minimum rental

Rentals in the short-term scheme on Airbnb is still considered not legal in Singapore but we’re heading in the right track:  June of 2017, the Singapore government declared that the least occupancy duration in private developments would be lowered to 3 months instead of the imposed 6 months.

En bloc,  more en bloc, continues en bloc

2017  is an exceptional year of en bloc sales in Singapore.  There were more or less 2, 700 homes have been disposed of through en bloc for 2017, a remarkable increased from 600 properties which were disposed of similar process previous year.

The President makes jumbo flats controversial

When the first elected president, Mdm Halimah decided instead of transferring to Istana, she preferred to live in a jumbo flat of Yishun.  This ignited a controversy, as to whether this was a smart decision or not but one thing sure, this won a great attention to jumbo flats.

The rise of the Bitcoin

What is the connection of Bitcoin to real property? Nowadays,  a lot of countries are utilizing smart contracts for real estate development transactions, and the mechanisms used a similar technology used with the blockchain known as the Bitcoin.

HDB flat owners: homeowners vs lessees

Things are trending for the past few months, as HDB purchasers published in the Strait Time Forum asking whether those who acquired HDB were the real homeowners or simply a lessees or tenant.  In fairness, HDB official reiterated that the leasehold unit purchasers are real owners, despite the period of the lease they carry.

The most controversial property in 2017: 38 Oxley Road

In real estate history, nothing beats 38 Oxley Road.  First, all accusations posted on Facebook, then the screened shot personal email which was spread on the internet, followed by parliament debate.  Without a question, 38 Oxley Road was the talked of the town property in 2017 and ruled the property news for some period.

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