Private home prices in the second quarter rose at a slower pace than the previous quarter indicating that the red-hot property market might be cooling down. This is according to the latest flash estimates from the Urban Redevelopment Authority (URA). The price index rose 1.9 per cent to 202.8 points, compared with the 2.2 per cent increase in the previous quarter. URA said the rate of price increase...
General
Resale prices of HDB flats have increased 2.9 per cent in the second quarter of this year compared to the previous quarter. Flash data released on Friday by the Housing and Development Board (HDB) shows that its resale price index in the second quarter this year came in at 179.9. The rate of price growth in the second quarter is higher than the previous quarter's 1.6 per cent hike. HDB said it is on...
Jones Lang LaSalle on Friday said Singapore's auction sales in the first half of this year fell by 20.4 per cent to S$69.25 million, compared to about S$87 million a year ago. The share of residential properties auctioned off also fell from about S$59 million to S$19.3 million for the same comparative period. In comparison, non-residential properties were more sought after, with sales of commercial and...
Koon Holdings on Friday announced it has acquired a 51 per cent stake in Singapore-based real estate agency GA Property Management (GAPM) for S$3 million. GAPM is an investment holding firm that owns real estate agency Global Property Strategic Alliance, which is involved in a range of real estate services including corporate leasing services, investment sales and en-bloc sales. Managing director and CEO...
JTC Corporation (JTC) on Friday said that it will be divesting two tranches of its properties totalling S$688.63 million to Soilbuild Group Holdings and Mapletree Industrial Trust as part of the second phase of its divestment exercise. These comprise over 300,000 square metres of property space in total. The first tranche, made up of ten blocks of flatted factories and amenity centres, will be awarded to...
The expected surge in the supply of new Housing and Development Board (HDB) flats and private homes over the next few years will not lead to a housing glut in 2013/ 2014, according to a recent Citigroup property report that made news for its contrarian view. Citigroup's analysis looks at Singapore's housing stock in totality, taking into account both private and public housing, saying they are closely...
Home buyers - especially those buying for owner-occupation rather than investment - have frequently commented: "I want to wait for the next downturn before I purchase my home." They have been saying this for the past 12 to 18 months. Till today, they remain adamant about the impending downturn of the property sector. If they are lucky - lucky of the Big Sweep kind - a sharp downturn might come soon....
Singapore's retail leasing market remained active in the first half of this year, underpinned by stable economic growth, a low-unemployment rate and healthy consumer spending. According to property consultants, CB Richard Ellis, the monthly average rent for Prime Orchard Road space remained at $30.10 per square foot per month in the second quarter, unchanged from the previous quarter. On the whole, Prime...
The Singapore property auction market has experienced a healthier second quarter after a lacklustre start in the first quarter this year. According to Colliers International, the total value of properties sold increased by 48.5 per cent on a quarter-on-quarter basis to S$41.38 million in Q2. The improved total sales value registered in the second quarter is contributed by a number of high-value...
The Urban Redevelopment Authority (URA) has closed the tender for the residential site at Choa Chu Kang Road/Phoenix Road after receiving five bids in total. Joint bidders Far East Civil Engineering and China Construction Development submitted the highest bid of S$142.78 million, which translates to about S$411 per square foot per plot ratio. The next highest bid came from EL Development at S$122...