It is too early to assess the full impact of recent measures introduced to cool Singapore's hot property market, according to National Development Minister Mah Bow Tan, who was speaking in Parliament on Monday. Mr Mah added that there are however signs of greater stability in the market. Based on Urban Redevelopment Authority's (URA) flash estimate of the Property Price Index (PPI), the increase in...
Market Reports
In the near future, many people will look back and regret that they did not take any action to benefit from it THE property market goes through a constant cycle; the prices go up, plunge a little and fall back into place. This cycle waits for no one and investors do not halt on property purchases despite the constant flux. At any point in the economic and property cycles - whether in good times or bad -...
THE Government is always on a look out for potential bubbles, especially in property, said Senior Minister Goh Chok Tong. 'We periodically act pre-emptively to let some air out of property bubbles before they burst with a bang. And what has proven effective in cooling the property markets are direct and targeted measures.' These include reducing the maximum loan for buying a second residential property...
The Republic's property market met a frosty reception last month as the Government's cooling measures appear to have tempered demand. Data released on Friday by the Urban Redevelopment Authority (URA) showed that 911 private homes were sold last month - a 27-per_cent drop compared to August, when 1,259 units changed hands. The September figure was the second-lowest monthly sales recorded this year. In...
Upgraders are now betting on the West Coast of Singapore, where competitive pricing continues to drive strong demand for private condominiums. One such example is Palm Gardens, a 694-unit development at Hong San Walk, off Choa Chu Kang Avenue 1, which saw three transactions at prices ranging from $564 to $633 psf in the period of Sept 14 to 21. Early last month, a 958 sq ft, two-bedroom unit on the third...
Singapore's property market-cooling measures appear to have succeeded in tempering demand. Urban Redevelopment Authority (URA) data on Friday showed that 911 private homes were sold in September, a 27% on-month drop from the 1,248 units sold in August. The 911 units sold were also the second lowest monthly sales this year, behind June's figure of 847 units. The drop follows Singapore government's latest...
With Beijing acting to cool red-hot domestic market, sellers here could benefit from influx of Chinese buyers Within days of Beijing announcing new measures to cool the overheated property market, thousands of people have been flocking to housing shows in big and small cities across China. Strong enthusiasm was seen in the property shows in Shenzhen, Shanghai and Nanning, though sales were lower compared...
Local interest rates plunged to all-time lows following the appreciation of the Singapore dollar against the US unit. This gave home buyers reason to cheer. The key three-month Sibor or interbank rate fell 0.7 per cent to a record low of 0.49667 per cent as more money flow is expected here in anticipation of currency gains. This is after an unexpectedly hawkish monetary policy statement from the Monetary...
SC Global have sold a penthouse at The Boulevard Residence recently for $30 million or $4,242 per square foot. This is the highest transaction in absolute price quantum in the development. In unit price terms, too, the $4,242 psf achieved for the most recent transaction is the highest at The Boulevard Residence, surpassing the $3,933 psf that a three-bedroom standard apartment of 2,034 sq ft sold for...
The latest property cooling measures in Hong Kong may prompt more mainland Chinese buyers to turn to Singapore as a destination for property investments. Market experts said this may in turn cause property prices here to escalate higher and it could even spur another round of cooling measures. Colin Tan, who is Head of Research & Consultancy at Chesterton Suntec International, said: "Every time...