get an agent

Buy with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Browse New Launch Condos

Find new units for sale

Browse Resale Listings

Connect with sellers through our app

RESOURCES

Calculate Buyer’s Stamp Duty

Find the amount payable when buying

Affordability Calculator

Find the amount payable when buying

How to Buy an HDB

A step-by-step guide to buying HDB

How to Buy a Private Property

A step-by-step guide to buying condo/landed

get an agent

Sell with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Post a Listing for Free

Connect with buyers through our app

RESOURCES

Calculate Seller’s Stamp Duty

Find the amount payable when selling

How to Sell my HDB

A step-by-step guide to selling HDB

How to Sell my Private Property

A step-by-step guide to selling condo/landed

HOME E-VALUATION

For tenants

Rent with an Agent

Dedicated experts at your service

RESOURCES

How to Rent an HDB

A step-by-step guide to renting HDB

How to Rent a Private Property

A step-by-step guide to selling condo/landed

For landlords

Lease with an Agent

Dedicated experts at your service

Lease Documentation

Leave the paperwork to us

RESOURCES

How to Lease an HDB

A step-by-step guide to renting HDB

How to Lease a Private Property

A step-by-step guide to selling condo/landed

Do it yourself

ARTICLE CATEGORIES

HDB

All things about public housing

Private Property

All things about private property

Home Improvement

Guides for must-know reno tips

Financing

All about mortgage solutions

Towns

Singapore townships in focus

Client Stories

Success stories from customers

Founders’ Message

From the desks of Rhonda & Race Wong

Share on facebook
Share on twitter
Share on email
Share on whatsapp

Property News: Showflat Viewings, EC Launches, and GLS Revisions

Ohmyhome

Ohmyhome

Share on facebook
Share on email
Share on whatsapp

Written By: Henny Maherah

In June, Singapore has experienced pivotal developments as the economy reopens. Some of these measures are starting to take effect on the local property market. These changes were brought about by the commencement of Phase Two: Safe Transition as the economy recovers from COVID-19.

Singapore Property News

To keep you well-informed, here are three top news headlines in Singapore. Stay updated as these developments might affect your next showflat viewing or any other property plans.

1. Reopening of Showflat Viewings in Phase Two

Showflat viewings have been put on hold since the introduction of the circuit breaker. As property developers reopen the doors to showflats once again, key measures have been implemented to ensure safe distancing is maintained.

news-update-showflat-viewings-ec-launches-and-gls-revisions-showflat-reopening

Safety Measures Introduced in Showflat Viewings

Strict crowd management measures have been introduced, with viewings strictly on an appointment basis. This means that walk-in viewings are prohibited in showflats. Additionally, contact tracing tools are currently in use to monitor crowd movement.

On 17 June 2020, the Council for Estate Agencies (CEA) granted more flexibility to developers by allowing alternative contracting tracking mediums apart from SafeEntry QR codes. However, concerns on privacy infringement were raised when it was discovered that clients’ addresses would be disclosed on SingPass Mobile if a SafeEntry QR code is activated for the property transaction.

Reacting quickly, agents and developers switched to the alternative manual contact tracing by asking clients to write down their particulars instead. During a real estate industry stakeholders meeting , Minister of State for National Development and Manpower, Zaqy Mohamad reported that GovTech is working on allowing property agents to generate SafeEntry QR codes independently to enhance efficiency.

Reopening Sparks Renewed Interest in Property Launches

Despite such crowd restrictions, underlying demands for property is strong among clients. Developers have observed a larger share of serious buyers who have secured units by the end of the viewing.

The Florence Residences by Logan Property successfully sold 20 units across 80 appointments, highlighting the unwavering demand for property despite uncertain times.

news-update-showflat-viewings-ec-launches-and-gls-revisions-showflat-reopening-green-loan

2. First Green Loan for Executive Condominium (EC) Development

On 9 June 2020, Frasers Property successfully secured a $350 million green loan under the Loan Market Association (LMA) and Asia Pacific Loan Market Association (APLMA) Green Loan Principles. The loan will be directed towards the development of an EC in Fernvale Lane.

This will be Singapore’s first green loan for an EC development, and Fraser Property’s 10th green financing initiative. The EC development would offer approximately 500 units. The Fernvale site was acquired by Frasers Property from the Government Land Sales exercise in March 2020. Once completed, the EC would obtain the Building and Construction Authority (BCA) Green Mark Gold Plus, further enhancing the appeal of the development to homeowners.

news-update-showflat-viewings-ec-launches-and-gls-revisions-affordable-housing

3. Revisions on Confirmed Government Land Sites (GLS) to Accommodate Current Needs of Population

In a press release reported on 24 June 2020, the Ministry of National Development (MND) added revisions to the confirmed list of the Government Land Sales (GLS) Programme for the second half of 2020.

These revisions include the addition of three new private residential sites, one of which is an EC development. The two private residential sites are in Ang Mo Kio Avenue 1 and Northumberland Road, while the EC development is located in Tengah Garden Walk.

Calculating the probable yield of all three sites, an estimate of 1,370 units, including 615 executive condominium units, could be developed. This figure is about 23% less than the GLS developments in the first half of 2020.

MND reports that the reduction of private residential supply is intended to reflect the housing needs of the current population. Furthermore, property developers are also urged to prioritise clearing unsold property from existing projects and meeting project deadlines instead of focusing on future developments.

Despite challenges faced by the property industry in recovering from the impact of COVID-19, strong responses from buyers are still observed throughout the recovery period. This resilient demand pinpoints the ever-present underlying demand for housing within the population, even amid turbulent times.


Looking to buy or sell your property? Browse 100% genuine listings on the Ohmyhome App available on both the App Store and Google Play Store. Talk to our in-house agents to find out more!

Call us now at +65 6886 9009!

Subscribe Now

Get a notification every time we upload a new blog post.

Featured Blogs

Your one-stop guide for must-know HDB tips

get an agent

Buy with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

Do it yourself

Browse New Launch Condos

Find new units for sale

Browse Resale Properties

Download the app and speak directly to sellers

RESOURCES

Affordability Calculator

Calculate required tax for selling

Calculate Buyer’s Stamp Duty

Find the amount payable when buying

How to Buy an HDB

A step-by-step guide to buying HDB

How to Buy a Private Property

A step-by-step guide to buying condo/landed

bUY OVERSEAS

get an agent

Sell with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Post a Listing for Free

Download the app and connect with buyers

RESOURCES

Free Home E-Valuation

Know the value of your property in seconds!

Calculate Seller’s Stamp Duty

Find the amount payable when selling

How to Sell an HDB

A step-by-step guide to selling HDB

How to Sell my Private Property

A step-by-step guide to selling condo/landed

get an agent

Rent with an Agent

Dedicated experts at your service

do it yourself

Browse Rental Listings

Download the app and connect with landlords

RESOURCES

How to Rent an HDB

A step-by-step guide to renting HDB

How to Rent a Private Property

A step-by-step guide to renting condo/landed

get an agent

Lease with an Agent

Dedicated experts at your service

Lease Documentation

Leave the paperwork to us

do it yourself

Post a Listing for Free

Download the app and connect with tenants

RESOURCES

How to Lease my HDB

A step-by-step guide to renting out an HDB

How to Lease my Private Property

A step-by-step guide to renting out condo/landed

FEATURED ARTICLES

Condo Renting 101: Where to Look, Sizes and Cost

Looking for a condominium to rent ...

Ohmyhome Raises US$5M in Series A+ Funding

Ohmyhome, the leading Property 
One-Stop Shop Platform

ARTICLE CATEGORIES

HDB

All things about public housing

Private Property

All things about private property

Home Improvement

Guides for must-know reno tips

Financing

All about mortgage solutions

Towns

Singapore townships in focus

Client Stories

Success stories from customers

Founders’ Message

From the desks of Rhonda & Race Wong

Social media

Other