Non-landed private home prices in Singapore galloped higher in January despite the government's recent stringent measures to choke off property speculation. Flash estimates compiled by the National University of Singapore Institute of Real Estate Studies show the overall Singapore Residential Price Index rising by 2.6 percent month-on-month. This is more than double the one percent increase in the index...
Market Reports
Following completion in December, buyer interest has returned to the 231- unit The Trillium located along Kim Seng Road. The luxury condominium was fully sold by Lippo Group at private previews in early 2007, at prices averaging $1,700 psf. Prices of units at the project, which obtained its Temporary Occupation Permit (TOP) in December, are well supported above the $2,000 psf level. A 5,533 sq ft...
One Shenton will be the latest residential development at Marina Bay to achieve completion, with the temporary occupation permit (TOP) expected this month. “Owners of the lower floor units at One Shenton are expecting to collect their keys soon, while mid- to high-floor units will also be ready for handover in the near future,” says Kelvin Cheong, an associate director at Dennis Wee Realty Pte...
The proportion of mainland Chinese buying Singapore residential properties jumped three percent in the fourth quarter of 2010, from 20 percent in the previous quarter. For the full-year 2010, their proportion among non-Singaporean buyers hit a yearly high of 19 percent, against 15 percent in the previous year. Ms. Chua Chor Hoon, Head of DTZ South East Asia Research, commented: “Mainland Chinese buyers...
HDB dwellers accounted for a lower proportion of overall private property transactions in 2010 than in the previous year, according to a DTZ analysis based on data from the Urban Redevelopment Authority (URA). Many of those who purchased private property also opted to take up small units measuring less than 1,000 sq ft, it said. “I think it has to do with the higher (property) prices,” said Chua Chor...
The property cooling measures did not deter crowds from visiting a number of launches over the weekend. Many projects, including My Manhattan and d'Leedon, saw a steady stream of visitors, although the number of sales was not quite enough to nudge prices north. If the first phase of a launch is successful, developers could be tempted to increase prices to cash in - but that sort of buyer enthusiasm was...
Prices for landed properties have skyrocketed by 63 per cent since the property market hit a low in the second quarter of 2009. In the 12 months of last year, the overall landed property index climbed 30.8 per cent, with prices for detached houses gaining a whopping 37.6 per cent, while prices for semi-detached and terrace houses grew 26 per cent. While most home searchers believe that landed property...
In an online poll of about 400 people that The Straits Times conducted on the eve of the announcement of the Budget, inflation worries ranked as the most urgent issue respondents wanted to be addressed. This did not come as a surprise but "lower housing prices" was ranked second among nine issues which included providing assistance to the sandwiched class, narrowing the income gap, boosting the birth...
The gap between landed and non-landed property prices has narrowed in psf terms over the past two years, according to analysis by a real estate company. As of end March 2009, detached, semi-detached and terrace houses transacted at discounts of 38, 36 and 23 percent respectively, as compared to non-landed units in psf terms. While the gaps narrowed by end 2010, landed homes are still transacting at more...
The head of Singapore's second-largest developer said property prices in the Republic could drop by three to five per cent this year. City Development's billionaire chairman Kwek Leng Beng gave this assessment as his company announced a record pre-tax profit of more than S$1 billion for 2010. Housing unit prices in Singapore could experience a small drop this year because of the government's latest...