The combination of cautious buyers and a lack of large new launches continued to put a dampener on new home sales over the past week. Far East Organization sold 63 units from its properties - excluding Eight Courtyards - with Woodhaven being the top seller with 46 units snapped up. The 337-unit development has now shifted 125 homes at an average price of $931 per sq ft (psf) since its private...
Market Reports
The 969-unit Caribbean at Keppel Bay is enjoying renewed interest among homebuyers, buoyed by strong visitorship to Sentosa Island with the opening of the Resorts World at Sentosa integrated resort, and growing anticipation of improved connectivity when the Circle Line MRT route is completed at year-end. Caribbean at Keppel Bay (developed by Keppel Land) saw four transactions on May 16 to 24, with prices...
From Mumbai to Melbourne, Asia’s property boom is stalling as the world’s highest interest rates and government efforts to curb prices take hold. In China’s biggest cities, growth slowed in April after the government stepped up property measures. In India and Australia, prices are falling after the steepest interest rate increases among major economies. In the financial hubs of Hong Kong and...
Some truths are cast in stone. In real estate, "location, location, location" is said to be the most important thing that determines a property's value. In economics, the law of supply and demand - the more there is of one item, the lower its price - is often the foundation of all market theories. Both of them are about to converge in Singapore's housing market, where at least 10,000 new homes could...
Sales of residential private housing in the first half this year are set to beat the second half of 2010. But analysts said that will not prompt the government to introduce more property cooling measures in the short term. However, they noted that the last round of cooling measures may have had an unintended effect on driving up public housing prices. For the first five months, 6,810 private homes were...
Private home sales fell 12.7 per cent last month, compared to April, and analysts expect sales - as well as prices - to moderate further given the Government's plans to push out more supply in the coming months. Data released yesterday by the Urban Redevelopment Authority (URA) showed that 1,575 private homes were sold last month, compared to 1,805 units sold in April. Total sales, including Executive...
Standard & Poor's (S&P) ratings agency lowered its outlook on China's red-hot property market to negative from stable, citing increasingly challenging credit conditions due to regulatory tightening and leverage concerns. China's property prices are expected to fall by 10 per cent over the next 12 months, with a 20-30 per cent dip less likely, S&P said. It also noted that neighbouring Hong...
Data released Wednesday by the Urban Redevelopment Authority (URA) showed that 1,575 private homes were sold last month - a 12.7 per cent on-month drop from the 1,805 units sold in April. Including Executive Condominiums (EC), the total sales in May would have reached an even more impressive figure of 1,825. Chalking up the best sales was Terrasse at Terrasse Lane, which sold 184 units at a median price...
Prices at Park Infinia at Wee Nam hit an all time high of $2,180 psf last month. This is the second time prices at the three-yearold condominium along Lincoln Road have breached the $2,000 psf level. Before this, a 560 sq ft unit on the 30th floor was sold for $1.13 million ($2,019 psf) in April. The 486-unit condo was developed by Keppel Land and completed in 2008. Across the road, at the 85-unit Miro by...
In a flurry of announcements since he assumed office on May 28, National Development Minister Khaw Boon Wan has demonstrated urgent resolve to deal with housing concerns ranging from high prices to out-dated eligibility requirements and the inadequate supply of new Housing and Development Board (HDB) flats. Housing was a hot topic during the General Election last month. The prevalent view then was that...