Small apartments in Singapore saw prices grow more than twice as fast as those of larger apartments in the Central Region last year. Prices of larger apartments outside of the Central Region also showed the same trend which, although similar to 2010 figures, was more noticeable last year. The sub-index for small apartments on the island (which covers those of up to 506 sq ft) climbed 11.8 percent in 2011,...
General
Two prime freehold residential redevelopment sites off Balestier Road have been launched for en-bloc sale, with a total price tag of approximately S$149 million. Sole marketing agent Jones Lang LaSalle (JLL) said the sites are located along 2 to 16 (even only) Kim Keat Lane, 1 to 19, 21 and 23 Kim Keat Close, off Balestier Road. Both sites are zoned for residential development with a gross plot ratio of...
Industrial property developer JTC Corporation has launched an industrial land site at Serangoon North Avenue 4 for sale by public tender. The 0.8 hectare site is part of the Industrial Government Land Sales Programme introduced in December 2011. The site has a lease of 58 years and a maximum permissible gross plot ratio of 2.5. It is zoned for Business 1 development, such as light industry, clean...
The Council for Estate Agencies (CEA) will continue to take steps to enhance industry standards as well as protect consumers, wrote Minister for National Development Khaw Boon Wan in his latest blog post. “We set up the Council for Estate Agencies (CEA) to raise the professionalism of the industry so as to better protect consumer interest. CEA has now completed its first full year,” Mr Khaw...
Prices of residential property in Singapore fell by 0.8 per cent on-month in December, according to flash estimates of the Singapore Residential Property Index (SRPI) by the National University of Singapore (NUS). This compares with a 1.4 per cent increase in November. The index covering small units of 506 square feet and below registered a 3.4 per cent increase. The NUS SRPI Small Index was down 0.8...
The launch of Parc Rosewood condominium over the weekend saw 70 per cent of the 236 units that were offered being sold. But this is after developer Kensington Land decided to price the units at between 8 and 10 per cent lower than comparable transacted home prices in the same area. Located close to Woodlands Regional Centre, prices were from about S$398,000 for a one-bedroom unit, S$568,000 for a...
URA residential priceindex up 0.2% in Q4; pace of increase the weakest since Q3 2009 The rise in private home prices in Singapore slowed to a crawl in the fourth quarter last year, with property analysts saying the data showed that the market had peaked as they forecast prices to fall 5 to 10 per cent this year. While the Urban Redevelopment Authority's (URA) said yesterday its private residential...
The Housing and Development Board (HDB) resale market appears to be stabilising as prices climbed at a much less rapid pace in the fourth quarter from the previous three months and as prospective buyers and sellers await new policy measures. The HDB said yesterday its Resale Price Index rose 1.7 per cent in the fourth quarter from the third to register a record high of 190.4. The rate of increase was less...
Singapore's retail and industrial property sectors are expected to continue to outperform the office market, which is feeling the impact of dampened demand from financial firms, analysts say. Across the board, the pace of increase for rentals and prices in the three sectors declined in the fourth quarter of last year, data released by the Urban Redevelopment Authority (URA) showed yesterday. But the...
Property watchers have said the bull run experienced by Singapore's housing market may have reached its peak. Latest data showed that home prices continue to soften and transaction volumes have dropped. 24,633 public flats changed hands last year, a 24 per cent drop in volume over 2010, and the lowest resale volume in the past 10 years. The Housing and Development Board (HDB) said the average annual...