Sales of private residential properties increased in March, bucking four consecutive months of decline. Data released on Friday by the Urban Redevelopment Authority (URA) showed that 1,386 private homes were sold last month, up 25 percent on-month from the 1,105 units sold in February. Including executive condominiums, the total sales would have reached an even more impressive figure of 1,543. The...
Market Reports
Property market cooling measures have been the recurring and persistent market risk across Asia over the past few months. Singapore is no exception. Since the introduction of a new set of measures in January, sales volume has slowed and the pace of increase in overall private residential property prices has moderated. The flash estimate of the Urban Redevelopment Authority's (URA) private residential...
The Singapore residential property market has had a very strong recovery since mid-2009 and prices are hitting record highs. However, the recovery has also prompted the Government to announce four rounds of residential property market cooling measures since September 2009. The harshest so far has been the latest round introduced in January, consisting of further hikes in the seller's stamp duty and...
The latest flash estimates showed private property prices rose by a slower 2.1 per cent in the first quarter from the preceding three months while HDB resale prices increased just 1.6 per cent. I must admit that I did not think it was possible to rein in HDB resale price rises so soon. This is because the problem here is not so much of dealing with strong demand but the lack of supply. Owners have to...
Analysts said property developers will soon have ample supply of prime land going forward, after the Urban Redevelopment Authority said it can build over 10,000 residential units near MRT stations, in the next 10 years and beyond. The URA announced this in its Concept Plan 2011 - an urban planning exercise done every 10 years. With their close proximity to public transport, analysts said that these land...
Emerald Garden is probably one of the most overlooked residential properties in the CBD. Located amid conservation shophouses on Club Street near Chinatown, the 265-unit residential project completed in 1998 was probably the first downtown private apartment development. It is within walking distance of both Raffles Place and Tanjong Pagar, and also the Tanjong Pagar, Chinatown and Raffles Place MRT...
HDB upgraders’ dreams of acquiring suburban condominiums are drifting further out of their reach. This is due to the record property prices coupled with the property cooling measures implemented by the government. According to property consultancy DTZ Research, seven out of 10 home buyers in Q1 2009 were HDB upgraders. However, this figure fell to about 3.5 out of 10 home buyers in 2010. Chua Chor...
European companies in China ranked Shanghai as the most attractive city to locate their Asia-Pacific headquarters as the Chinese city provides companies with direct access to the region's biggest market, a survey showed yesterday. Hong Kong and Singapore ranked the second and third most preferred locations out of 15 cities examined in the survey, which was conducted by the European Union Chamber of...
The latest flash estimates showed private property prices rose by a slower 2.1 per cent in the first quarter from the preceding three months while HDB resale prices increased just 1.6 per cent. I must admit that I did not think it was possible to rein in HDB resale price rises so soon. This is because the problem here is not so much of dealing with strong demand but the lack of supply. Owners have to...
Singapore’s top quality education has placed the country second on the list for second-home purchases for ultra-rich Asians, especially the Chinese and Indians, according to The Wealth Report 2011 compiled by Citi Private Bank and Knight Frank. Meanwhile, when it comes to principal residence, Singapore is the top choice for Asia’s ultra-high net worth individuals (UHNWIs). This was mainly attributed...