With property transactions dampened by various cooling measures last year, some real estate agencies have said they are encouraging their agents to diversify their income stream. That means looking beyond local transactions and venturing into the overseas and rental markets as well. The Council for Estate Agencies (CEA) announced on Thursday that there was a 27 per cent fall in the number of new...
General
The weakening Housing and Development Board (HDB) resale market is expected to weigh on the private property market, as upgraders will have less money at their disposal when looking for a new home. “There will be an impact on the private housing market because upgraders are typically former HDB flat owners. So, with the HDB resale market slowing down, we may see a smaller number of upgraders moving on...
The Council for Estate Agencies (CEA) has said it has licensed 1,425 estate agents and registered 31,783 salespersons as at January 1. About 3,300 of the registered salespersons are new entrants to the industry last year, compared to about 4,500 in 2012. This represents a drop of about 27 per cent. Last year, CEA issued licences to 1,492 estate agents and registered 31,040...
The overall median cash premium or Cash-Over-Valuation (COV) for HDB resale flats fell to S$5,000 in December last year, from S$8,000 in November 2013. This is the lowest since June 2009 when COVs were at a low of S$3,000. It was a 37.5 per cent drop month-on-month, according to the latest flash report released by the Singapore Real Estate Exchange (SRX) on Thursday. In December, about one in five...
A land parcel at Westwood Avenue for executive condominium (EC) development has attracted 12 bids at the close of tender on Tuesday. The Housing and Development Board (HDB) said the top bid of S$198.9 million came jointly from Changi Properties and Heeton Homes. This translates to a land price of S$382 per square foot per plot ratio. The next highest bid of S$198 million is a joint tender from...
In what could be bad news for foodies, the popular Long House Food Centre along Upper Thomson Road has been sold to TEE Ventures, a subsidiary of TEE Land Limited, for S$45.2 million. A statement by Knight Frank Singapore said that under the 2008 Master Plan, the 16,960 square feet (1,575.6 sqm) freehold site is designated for "Commercial and Residential" use, with a Gross Plot Ratio of 3.0. It said...
Private home prices in Singapore fell for a third consecutive quarter in the longest losing streak in five years as cooling measures and mortgage restrictions continued to slow the market, but the rate of decline moderated, suggesting the curbs are likely to stay in place, analysts said. Overall prices of private residential properties declined by 1.1 per cent in the three months to June from the...
Analysts expect the private landed residential property market to remain fairly muted in 2014, following a 0.1 per cent fall in overall prices last year. Property agency PropNex said the landed homes segment is not likely to see any strong price growth anytime soon. Prices of landed homes have started to correct since 2012, rising 3.4 per cent after two years of double-digit growth. The Total Debt...
There has been strong interests for the first few properties opened for viewing this year. This includes what's being called Singapore's first retirement resort, which saw a big crowd on its first day of preview on Saturday. Its developer, World Class Land, said interests shown were mostly from those in their 50s. It was a packed showflat for The Hillford's first viewing day. Touted as...
The property auction market in Singapore went into a deeper slumber in the fourth quarter, with only S$3.9 million in sales closed, a 15.1 per cent decline from the preceding quarter’s already tepid S$4.6 million, as loan curbs and cooling measures continued to weigh on the market, real estate firm Jones Lang Lasalle (JLL) said yesterday. Ms Mok Sze Sze, JLL’s Head of Auction and Sales, said: “The...