The news headlines this week about developer's home sales for last month were almost comical, doing little justice to the actual reports that followed. Unfortunately, people remember the headlines and not so much the details. Data released by the Urban Redevelopment Authority (URA) on Tuesday showed a total of 1,189 new private homes sold last month. That is a 10.7 per cent drop from December and a...
Market Reports
Economists yesterday welcomed reforms of China's system for reporting property price data, saying the changes would improve on previous methods that severely underestimated inflation in the housing sector in the world's second-largest economy. The National Bureau of Statistics (NBS) announced this week that it was scrapping a nationwide property index and would instead publish price changes for individual...
Demand for landed properties is likely to be robust this year, according to market watchers. They said landed property buyers are typically unaffected by the government measures to curb speculation. That is because they are less likely to speculate on their houses as they are usually long-term owner occupiers. Analysts said going forward, limited supply of landed properties, low interest rates and...
Sales of private residential property in Singapore fell to a three-month low in January after the government announced stringent measures to curb speculative activity, including a 16 per cent seller's stamp duty for sales in the first year. Data released on Tuesday by the Urban Redevelopment Authority (URA) showed that 1,189 private homes were sold last month. This is an 11 per cent month-on-month drop...
Buyers with Housing Development Board (HDB) addresses lodged 1,016 caveats for private apartments below 500 sq ft in 2010, approximately 17 times the 59 units acquired by HDB dwellers in 2006, according to an analysis of Urban Redevelopment Authority (URA) Realis caveats data. These small units comprised 9.1 percent of the total number of non-landed private homes acquired by buyers with HDB addresses in...
National Development Minister Mah Bow Tan has said the government will continue to monitor the property market closely and take further steps, if necessary, to promote a stable and sustainable property market. Replying to a question in Parliament on Monday, he explained that despite the large supply in the pipeline, market sentiments had remained bullish, with signs of renewed exuberance in the market at...
The launch of a residential project in Sembawang over the weekend has been met with strong response, confirming expectations that the property market will weather the recent round of government cooling measures. Analysts said more launches are likely over the next two months to make up for the lull during the Chinese New Year period and homebuyers will be spoilt for choice. They added that developers...
We need to keep an eye on the potentially strong supply of private homes that will come onstream till 2015. In particular, we need to be wary about the supply this and next year, because the global economic recovery remains elusive. Based on the Urban Redevelopment Authority's (URA) release on Jan 28 of Q4 2010 data for private residential properties, the estimated number of residential units that will...
The Real Estate Developers' Association of Singapore (REDAS) said the latest property cooling measures introduced last month have stabilised the property market. Market watchers share the same view, but pointed out that it is the volume of transactions in the suburban market that has tapered off. They added that for the high-end property market, the number of transactions may have been lower from last...
Buyers are continuing to pick up units at new condominiums in recent weeks despite the distractions of Chinese New Year and the property cooling measures. Almost half of the 320 units at Canberra Residences in Sembawang have been sold since its soft launch on Jan 22, with most of the one- and four-bedroom units at the 99-year leasehold development have been sold. The project, which is going for around...