Prices of resale private homes climbed 2.3 per cent in January, even as transaction volumes dropped 9.1 per cent over the same period. According to the latest data from the Singapore Real Estate Exchange (SRX), which compiles data from property agencies in Singapore, 310 non-landed private homes were resold in January 2014. Compared to a year ago, January's resale volume plunged 70.2 per cent. 1,039...
General
Singapore office rents are likely to rise by 5 to 10 per cent this year, due to lack of new supply coming into the market, real estate firm Savills said on Thursday. "The overall vacancy rate of CBD (Central Business District) Grade A offices tracked by Savills declined for the fourth consecutive quarter, from 7.8 per cent at the end of 2012 to 3.4 per cent by the end of Q4 2013," Savills said in a...
Riverbank @ Fernvale is one of two private residential developments in Sengkang that will be launched for sale this month. Its developer, UOL, said units will be priced at an average of "slightly above S$1,000 per square foot". The 99-year leasehold project comprises 555 apartments -- 488 of them are one-, two- and three-bedroom units. The selling price of a one-bedroom unit will start from...
City Developments Limited's (CDL's) executive chairman and industry veteran Kwek Leng Beng has suggested that it may be the right time for the government to tweak the property cooling measures, amid concerns over the global economy. Mr Kwek gave his views during a speech when he was presented with a Lifetime Achievement Award at an event organised by the Real Estate Developers' Association of Singapore...
The median cash-over-valuation (COV) for Housing and Development Board (HDB) resale flats fell to S$3,000 in January, matching the previous low in June 2009 during the global financial crisis. Analysts Channel NewsAsia spoke to expect the COV to fall further, with 24,300 Build-to-Order (BTO) flats slated to be launched this year. According to data from the Singapore Real Estate Exchange (SRX), the...
Singapore's real estate investment trust (REIT) sector has been going through a rough patch. After seeing several bouts of sell-offs in 2013, the S-REIT index is now at its lowest level in almost one and a half years. But several REITs have reported record results this earnings season. Channel NewsAsia finds out if that could help boost sentiment in the sector. The latest REIT to list on the...
Singapore property investors looking to park their money in a booming overseas market should take note that London’s housing market is beginning to show “bubble-like conditions” as overseas buyers bid up prices and locals take on more debt to purchase properties, according to a report by the EY Item Club. The average London home will cost about 600,000 pounds (S$1.25 million) by 2018, the...
The recent slump in the Malaysian Ringgit against the Sing dollar did not spark any frenzied property buying across the Causeway among Singapore investors, according to some real estate agencies. OrangeTee and SLP International Property Consultants observed that investors have become increasingly cautious about property investments in Malaysia. Iskandar Malaysia, a special economic zone north of...
Some market watchers said demand for homes in the core central region could pick up as early as the second half of this year, as prices continue to moderate. Property consultancy Savills added that some unsold units in the city were even transacted at below valuation. According to recent marketing materials, Hijauan on Cavenagh is offering units at prices from as low as S$1,701 per square...
The Braddell View management committee said more than 80 per cent of flat owners have agreed to the privatisation of the HUDC estate, as of January 28. This is already more than the 75 per cent mandate required for privatisation. Residents have to pay a top-up to harmonise the two leases on which the estate is built, which have different expiry dates. The committee said according to the chief...