Luxury residential prices in Asia will likely remain stable or see slower growth this year. According to the latest Residential Index from Jones Lang LaSalle (JLL), average capital values climbed 1.8 percent quarter-on-quarter in Q1 this year, across monitored luxury residential markets in Asia, similar to the previous quarter. However, price growth has moderated steadily from the 7.4 percent...
Market Reports
The Government's measures to cool the exuberance in Singapore's property market have started to affect home-buying decisions, according to property website iProperty.com's 2011 Consumer Property Sentiment Survey. Some 59.2 per cent of respondents say they are affected by the measures and are either modifying their property buying, selling or renting decisions, or are halting plans to buy or sell for...
The price gap between uncompleted and completed private homes narrowed in the first quarter of this year. Data from property consultancy SLP International's first quarter residential market report shows that high-end and mid-tier properties have been the most affected. Uncompleted homes usually command higher prices. A narrowing of this gap, caused by a drop in uncompleted home prices could reflect...
The Esta may be facing the busy Mountbatten Road but demand continues to be strong at the 400-unit freehold condominium, owing to its easy access to the city and a wide range of amenities at Katong. A unit at The Esta was sold for $1,325 psf this month, the first time it has breached the $1,300 psf level since last December. The peak was recorded previously in October, when a 1,399 sq ft three bedroom...
Singapore's private home prices moderated again in the first quarter of this year, growing 2.2 per cent compared with 2.7 per cent in the previous quarter. This is the sixth straight quarter in which growth in private home prices has slowed down. Final data released on Monday by the Urban Redevelopment Authority (URA) also showed that prices of non-landed residential properties rose 1.7 per cent in the...
The luxury residential property sector should be performing quite consistently this year but luxury residential property prices look unlikely to climb to pre-crisis levels anytime soon, according to market-watchers. "Current prices for luxury residential property prices per square feet (psf) are in the S$2,500 to S$4,500 range," said Mr Liang Thow Ming, executive director and head of residential services...
Singapore’s recent rounds of property cooling measures have started to take their toll, according to Keppel Land. Based on the preliminary projections from the Urban Redevelopment Authority (URA) in the first quarter of this year, approximately 3,700 new homes were sold, 12.7 percent lower compared to Q4 last year. Home prices climbed at a slower rate of 2.1 percent in Q1, registering the sixth straight...
Sales of luxury homes in Singapore have remained low due to the economic crisis in the US and Europe, though buyers are slowly returning, according to a top executive of Heeton Holdings. Danny Low, Chief Operating Officer of Heeton, said the low luxury home sales in the country can also be attributed to the increasing number of locations competing for high-end buyers. Mr. Low was speaking during the soft...
Recently-launched condominium Hedges Park has received strong demand with 130 of 200 units released over the weekend snapped up. The apartments located in Changi which range from 484 to 1798 square foot sold at an average price of S$850 per square foot. Prices of the 99-year leasehold development range from S$466,000 for a one-bedroom apartment to S$1.06 million for a four-bedroom apartment. Hedges Park...
Homes in suburbs such as Simei and Buangkok are enjoying a resurgence of interest owing to their affordability and accessibility as new malls and MRT lines are built. The appreciation in the prices of such property is prompting some homeowners to cash out at a profit. In Buangkok, prices at the 99-year leasehold Hougang Green recently hit a peak of $837 psf in February when a 764 sq ft unit on the 10th...