Credo Real Estate’s historical data revealed that the odds against Singapore property prices seem to have been fixed. Following a pattern of several quarters of price moderation, negative residential price corrections were last reflected in 1983, 2000 and 2008. Notably, this pattern became apparent in 2011’s final quarter. The residential property index slid from 1.3 percent in Q3 to a scant 0.2...
General
Although the additional buyer's stamp duty (ABSD) was placed on foreign buyers recently, expatriates still continue to search for good property deals, according to consultants. “International buyers are still looking to buy,” said Jacqueline Wong, Head of Residential and National Director at Jones Lang LaSalle (JLL). Wong noted that although foreign purchases dropped in the second quarter, many have...
China will limit mortgages for home purchases by foreigners to curb overseas investment, as part of its continued efforts to lower property prices. According to the National Development and Reform Commission, China’s planning agency will not approve medium- and long-term foreign debt quotas for overseas banks this year, if they intend to use such borrowings to fund home loans taken out by...
An increasing number of home buyers are now turning to non-HDB homes, with ECs becoming their top choice, according to R'ST Research. Purchases for non-HDB homes such as landed, non-landed private and EC units hit a record of 13,910 units in 2011, up from 13,769 units in 2010. ECs now account for 42 percent of the sales transactions across the non-HDB housing segment, according to URA Realis data. ECs...
Mass market residential units have continued to receive overwhelming response, with The Tampines Trilliant executive condominium (EC) and Parc Rosewood condo boasting brisk sales. At Sim Lian’s The Tampines Trilliant showflat (pictured), 149 units have been sold since bookings opened last Saturday, with 32 of the 48 double-storey penthouses snapped up as of 4pm yesterday. 24 of the 32 penthouses were...
Property en-bloc sales have been picking up pace over the last few weeks, and so far, there are already eight en-bloc sites offered for sale since January. Still, analysts say they are not too upbeat on the prospects of collective sales as demand for such sites remain soft. Minister for National Development Khaw Boon Wan said in his blog last month that collective sales of private properties are...
A billion-dollar office block is being erected at the site of Market Street Car Park in Singapore's financial district. As the market for prime-grade office space is softening, property analysts are wary that the developers may not achieve the rentals they are seeking. Property group CapitaLand, together with CapitaCommercial Trust (CCT) and Mitsubishi Estate Asia (MEA), will jointly develop the former...
The 124-unit luxury condominium Marina Collection by developer Lippo Group was completed just last year, and is located next door to ONE°15 Marina Club. The project has seen a spate of buying interest despite the imposition of the additional buyer’s stamp duty (ABSD) on Dec 8. Based on the latest caveats lodged and downloaded from URA Realis as at Jan 18, there were three transactions at the project,...
Property analysts said subscription rates for executive condominiums (ECs), remain healthy in spite of the uncertain economic outlook. And it is also precisely because of the economic climate that analysts said demand for such housing is likely to stay. In January, about 1,000 people had indicated their interest to buy one of the 670 units at The Tampines Trilliant - which analysts said was a healthy 1.5...
In the latest twist to the tenancy woes at Turf City mall, sub-tenants may have to vacate their shops despite an earlier High Court order, which allows them to stay while the mall's master tenancy change hands. They were told on Friday that the current master tenant, Singapore Agro Agricultural, has made an urgent application to set aside the court injunction, obtained by the new master tenant, SH Cogent...