A significant reduction of 3% to 11% in Land Betterment Charges (LBC) for residential, non-landed usage has been observed. The decrease is expected to relieve financial burdens on property owners while stimulating the housing market. This move comes as a respite amidst ongoing economic challenges, offering opportunities for prospective buyers and promoting economic growth in the real estate sector.
Singapore-based real estate developer Wing Tai Holdings recently sold an impressive 23% of its LakeGarden Residences development during its launch weekend. The average price per square foot achieved was an impressive $2,120, highlighting strong demand for this prestigious residential project. These initial sales figures suggest a buoyant market and optimistic outlook for the development.
Altura EC has achieved unprecedented success, selling 61% of its units within a day of its launch. This remarkable achievement is complemented by an all-time high average price of $1,433 per square foot. The development’s popularity reflects the strong demand for premium residential properties in the market.
In a remarkable feat, The Reserve Residences has successfully sold 71% of its units, commanding an impressive average price of $2,460 per square foot. Meanwhile, prospective homeowners can anticipate the May 2023 BTO exercise launching tomorrow. Stay tuned for more updates on Singapore’s real estate landscape.