Completed early last year, the RiverGate development in the Robertson Quay area, where some units enjoy spectacular views of the Singapore River, has seen transaction prices scale $2,000 psf since July. However, they are nowhere near the record high of $2,701 psf achieved in May 2007, when a 3,143 sq ft unit was sold for $8.49 million. When the project was launched in early 2005, average prices were only...
Market Reports
Singapore's measures to cool the property sector had a stronger effect on prices in the private housing segment in the third quarter than initially estimated. Final data released on Friday by the Urban Redevelopment Authority (URA) showed that overall private residential prices rose 2.9 per cent from the second quarter, slowing sharply after a gain of 5.3 per cent in the previous three months. URA's...
Property consultant Jones Lang LaSalle says Singapore is seeing one of the world's strongest growth in real estate investment transactions. In its Global Market Perspective report, it says shortages of prime assets for sale are constraining investment volumes. This has led to Singapore, Australia, Sweden and China experiencing the highest property investment growth as those countries have robust economic...
While prices of some private residential properties may have reached record highs, there are still opportunities for homebuyers and investors who hope to benefit from capital appreciation and long-term investment. However, potential buyers should carefully evaluate the prevailing and expected market conditions and any project-specific opportunities before going ahead with a private home purchase. A...
Investment sales for residential property in Singapore have fallen 30.8 per cent in a single quarter, with analysts attributing the dive to the slew of cooling measures introduced by the Government in August. According to a report issued yesterday by property consultancy Colliers International, the third quarter saw a total value of $3.74 billion in residential investment sales, well below the $5.4...
Private home transactions in the secondary market slowed down significantly in September over the previous month following the August 30 announcement of property cooling measures. Based on the analysis of URA Realis caveats data as of October 19, the number of subsales slid nearly 52 percent month-on-month in September, while resales of private homes declined 42 percent over the same period. The sales...
Citizens and permanent residents who cut their ties with the Republic cannot expect to continue owning landed property in the city. That is the message the Singapore government is sending through the Residential Property (Amendment) Bill, tabled in Parliament on Monday. Analysts said the Bill puts former citizens and PRs in the same boat as foreigners when it comes to landed houses. Individuals who give...
THE Glyndebourne, a 150- unit proposed freehold condo slated to be built on the Copthorne Orchid Hotel site along Dunearn Road, is expected to go on the market as early as next week, say sources. Market watchers suggest the average price could be about $2,000 per square foot (psf). Unit sizes are said to range from about 690 sq ft for a one-bedroom apartment with a study to 3,563 sq ft for a five-bedroom...
Proposed changes to foreign ownership of landed residential property in Singapore and a seven-day cooling period for HDB resale flats are not expected to weigh down on property prices, according to analysts. Over 80% of Singapore's population resides in flats. Hence, proposed amendments to the Residential Property Act will have little impact on the overall market, said experts. The Act regulates foreign...
More changes are on the way for the regulation of Singapore's property market. From November, sellers of Housing & Development Board (HDB) flats will have to observe a seven-day cooling-off period before they can grant an Option-to-Purchase (OTP) to the buyers. And foreign owners of landed property could face tougher rules under changes being proposed by the Law Ministry. The HDB said in a statement...