Sales of private home units rebounded in October, climbing above the 1,000 units level yet again. Data released on Monday by the Urban Redevelopment Authority (URA) showed that 1,058 private units were sold last month. Including Executive Condominiums, the total sales would have reached an even more impressive figure of 1,587. That's higher than the 911 units sold in the previous month. Chalking up the...
Market Reports
After all these years, condominiums along Bayshore Road off the East Coast Park Expressway (ECP) in District 16 continue to be sought after by homebuyers and investors. “There is robust demand for properties in this area, the biggest draw being their proximity to East Coast beach and park,” says Huttons senior marketing associate Mervin Tan, who specialises in marketing the properties in the...
The flood of hot money unleashed by the United States' latest round of monetary easing runs the risk of inflating a bubble in Singapore property market. This may in turn increase the chances of further property cooling measures, warned analysts yesterday. Regional markets are expected to be on the receiving end of a large slice of the US$600 billion (S$770 billion) injected by the US Federal Reserve last...
Good-class bungalow (GCB) owners are cashing in on escalating property prices. A CB Richard Ellis (CBRE) analysis of Urban Redevelopment Authority (URA) Realis caveats shows that GCBs are netting bumper profits for owners who have seen average per sq ft (psf) prices rise almost 30 per cent over the past year. Some have taken to buying and selling their GCBs within a period of less than two years. At...
Singapore and Hong Kong have emerged as the top two preferred property investment markets in Asia. That's according to property consultant Colliers International's "Global Investor Sentiment Survey" for the third quarter of this year. The survey found 70 per cent of the investors are only interested in their own domestic market when looking to expand their real-estate portfolio. The remaining 30 per...
Prices of units at The Interlace hit an all time high of $1,323 psf in October, with apartments released in the first two phases almost sold out. So far, more than 90% of the 590 units released have been sold. In the first phase, 360 units were put up for sale in September last year, and in the second phase, 230 units were released in April this year. In the first phase, prices ranged from $850 to $1,150...
Small-sized studio apartments although squeeze for some, have been achieving record prices, even in less glitzy areas outside the city centre. So-called shoebox apartments which are less than 500 sq ft in size, first made their presence felt around 2006 in mainly prime districts. An example is Robertson Edge off Mohamed Sultan Road. The trend has since spread to regions outside the central area. In...
Rents for non-landed properties such as condominiums are rising at a slower pace. Latest data from the Urban Redevelopment Authority (URA) showed such rentals rose just 3.6 per cent in the third quarter, compared to 6 per cent in the preceding quarter and 4.8 per cent in the first quarter. Property analysts said the downward trend indicates that the market has reached a sustainable level and the growth is...
The Government's cooling measures on the property market have sharply cut Singapore home loan applications at DBS bank according to chief executive Piyush Gupta. He said local mortgage applications have slumped by 20 to 25 per cent since the measures were introduced on Aug 30. OCBC Bank CEO David Conner also indicated earlier this week that it has seen a 20 per cent fall in housing loan applications...
Prime Minister Lee Hsien Loong said yesterday that the city- state's red-hot property market was a matter of concern and needed careful monitoring to avoid the creation of a bubble. Recent measures to cool the market have dampened sentiment, but liquidity is awash in the region, he told news agency Reuters in an interview on the risks facing Singapore. Mr Lee also said the government will continue to...