Market watchers have said there may be an oversupply of private homes in two to three years' time, when most developments are completed. They cautioned that while a good economy may see these units gradually taken up, a downturn will send the property market into a depression. National Development Minister Khaw Boon Wan issued a "health advisory" on his blog, urging investors and upgraders to think hard...
Market Reports
With concerns mounting that there will be an oversupply in the private home market, property developers will be increasingly selective about the sites for sale under the Government Land Sales programme in the second half of this year, analysts said. They are likely to bid for the sites with the most attractive locations, such as those near MRT stations. Among these, the sites on Alexandra Road and Bishan...
In the past few months, there have been more warnings of a glut in the private housing market and the calls have become more strident. More recently, this warning has been blared out as one of several events that could lead to the perfect storm that the market is headed for. This is the worst-case scenario which could unfold as early as 2013 if all the events - more supply, falling demand and higher...
Private home purchases reached record highs last year and have continued to remain strong this year. Indeed, had the Government not imposed the fourth round of property market cooling measures in January, the home buying frenzy might have hit unsustainable levels on rampant speculation. One often wonders what drives the buying fervour. Given the euphoria, could traditional demand drivers have changed in...
National Development Minister Khaw Boon Wan on Thursday sounded the alert on the spike in property prices in his latest blog posting. He said things can go very wrong suddenly and gave three reasons. Firstly, 35,000 private homes have already been sold - though still in construction - with payments in various stages of completion. And there are 45,000 units in the pipeline, waiting to be built and...
The Ministry of National Development (MND) said it will inject about 43 sites into the government land sales programme (GLS) for the second half of this year. Out of the 43 sites, 19 sites will be on the confirmed list, while 24 sites will be on the reserve list. To address the strong demand from home buyers and developers, MND said 17 out of the 19 sites on the confirmed list will be for residential...
Sales of luxury properties in Singapore seems to be losing its shine and has slowed down in recent weeks. That is according to industry players who say that the segment has underperformed despite the overall property boom last year. Analysts said most buyers of luxury properties here, mainly foreign investors, are turning cautious about buying their next multi-million dollar home due to the uncertain...
Prices of luxury homes in Singapore have moderated in the first quarter of this year due to property cooling measures, data from CB Richard Ellis' (CBRE's) Asian Luxury Residential Capital Value Index showed on Monday. The measures, announced in January, included raising the seller's stamp duty and reducing credit available to those who already have outstanding mortgages. CBRE said the increase in prices...
Sales of luxury properties have hit a sluggish patch in recent weeks. That is according to industry players who said that the segment has underperformed despite the overall property boom last year. Analysts said most buyers of luxury properties, who are mostly foreign investors, are turning cautious about buying their next multi-million-dollar home, due to the uncertain global economy. Hamilton Scotts,...
There has been a flurry of transactions at The Sail @ Marina Bay, with prices playing catchup with those at Marina Bay Residences (MBR). Last month, a unit at MBR hit an alltime high of $4,368 psf. A 2,368 sq ft apartment on the 46th floor was sold for $10.3 million on April 15. This trumped the previous record of $3,790 psf, which was achieved when a 1,959 sq ft unit on the 46th floor was sold for $7.2...