Today, Singapore Property market is up with a new challenge – government has introduced buyers’ stamp duty change on 8^th December, 2011. According to this, Foreigners excluding countries that signed free trade agreement with Singapore, citizens of Singapore and permanent residents of Singapore have to pay additional stamp duty on their 1^st, 2^nd and 3^rd properties respectively. Additionally, all property developers should resell residence units within five years of purchase. This is the fifth time where Government of Singapore has taken measures for cooling down the property market, which has soared over 35% since 2009.

Even after all these cooling measures, it remains to be seem if the market favors the bulls or bears. Many predict a 20 – 30% fall in property prices during the later part of 2012, though few others are confident that the Singapore Property Market would remain the same throughout. They say, only if there is a major global economic crisis, the prices would drop , however, with the changes in duty charges, prices might be influenced at least on the developers’ front.

The current trend in Singapore is buying waterfront, or river view residential premises seem to be selling like hot cakes when considering condo in Singapore. The changes announced by the government does not affect those buying their first property and hence, this group is targeted by the developers. With Treasure Trove condo in Punggol becoming a hit, Qing Jian Realty developer is getting ready for another launch in the private condominium sector and named it Riversound Residence. This is planned in Sengkang, looking Sungei Serangoon and Sungei Pinang and has the gorgeous views and closer proximity to Punggol Park, as key selling pointers. Known for tranquility and calm surroundings, this is considered to an ideal location for home buyers.

Riversound Residence is planned as a 99 years leasehold private condominium, which will situated along Sengkang East Avenue. About 590 units that will be 1,2,3,4 bedroom premises are planned.  Most will face North-South and located on 6 blocks of a 18 storey building. Innovative concept of this project include two sky terraces, which will on the 14^th floor, considering it is an 18 storey project. These terraces are only available for buildings that cross 30 storeys only. Looking to buy your first home? Don’t forget to get a glimpse of this premise that’s set for launch in January 2012.