Market Reports

Modest private home price growth expected in Singapore

Singapore's private housing market is poised for modest price growth next year, amid a resilient leasing market. However, developers are expected to continue being challenged by the significant supply of unsold private housing units in the pipeline although, by some estimates, the oversupply could ease by the end of 2021. Data from the Urban Redevelopment Authority (URA) shows that as at the end of the...

Singapore home glut tied to official curbs, key developer says

Singapore's property glut is an unintended consequence of government measures to force developers to build and sell apartments quickly or face stiff penalties, according to City Developments Ltd. The city-state's second-biggest home builder has come out swinging against a rule that imposes a levy on companies if they don't complete construction and sell all units within a period of five years from...

Singapore condo resale prices ease in November: SRX

Resale prices for non-landed private residential properties in Singapore dipped slightly in November after two straight months of increase. Sales volumes also declined, according to flash figures from real estate portal SRX Property on Tuesday. Condominium resale prices fell 0.1 per cent in November from the previous month, compared with a 0.8 per cent rise in October. Volumes, meanwhile, fell 7.2 per...

Singapore condo rents up in November, while HDB rents fall: SRX

Rents for non-landed private homes in Singapore rose in November from the previous month, while those for HDB flats slipped, though they were both higher as compared to a year ago. Overall condo rents increased 1.2 per cent from October, and is up by 4.6 per cent year on year. However, they are still 16 per cent below their peak in January 2013. Rents in the suburbs, or the outside central region...

S’pore private home prices rising faster than wages, affordability gap might widen: Experts

With private property prices increasing at a faster rate than wage growth, property experts are saying that the affordability gap for private homes could further widen for Singaporeans. Professor Sumit Agarwal from the National University of Singapore Business School said that the divide between income growth and residential property price increases could grow bigger, with technology set to displace...

Singapore has a property glut that could take years to clear

Singapore has a property glut that could take years to clear, threatening to kill a nascent price recovery amid an already uncertain economic outlook. The city-state had an overhang of 31,948 units as of Sept 30, according to the Urban Redevelopment Authority. Sales have averaged about 2,500 homes per quarter this year, and at that rate it will take almost four years to clear the backlog, according to...

Singapore keeps building until the buyers come

You'll build and they'll come? Well, don't bet on it. That's what Singapore's authorities seem to be telling property developers, who are flooding the market with new homes. The builders themselves are getting nervous about the glut. But everyone — the prospective homeowner, the seller and the government — is actually lucky. A minor bubble got pricked in time, with exorbitant duties now charged...

Private housing supply from H1 2020 GLS holds steady: MND

The government is keeping the supply of private residential units mostly unchanged for the first-half 2020 Government Land Sales (GLS) Programme, the Ministry of National Development (MND) said on Tuesday morning. This comes as the government has decided to keep the supply of private residential units on the confirmed list for the H1 2020 GLS "broadly similar" to that for the H2 2019 GLS programme....

Singapore property prices decoupled from global yield chase, speculators: IMF study

Singapore’s private residential prices appear to have decoupled since 2013 from the global chase for yields, a fresh study by the IMF showed. This is as macroprudential measures undertaken by the Singapore regulators in recent years targeted foreign buyers and speculators - the pacemakers behind the asset chase on Singapore properties, said the study, which was released within the annual Financial...

Singapore property market faces risks from unsold units, uncertain economy: MAS

Singapore's property market faces “potential downside risks” from a large supply of unsold units in the medium term and an uncertain economy, said the Monetary Authority of Singapore (MAS) on Thursday (Nov 28). In its annual Financial Stability Review, the central bank urged prospective buyers, especially households that are highly-leveraged, to be mindful of risks and remain prudent. Property...

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