Bulk deals involving high-end apartments are gathering speed again. Some funds which invested in Singapore's upmarket residential market are taking advantage of a price recovery in this segment to exit their investments. A German core fund managed by Morgan Stanley is understood to have sold 23 apartments it owned in the Draycott Eight condo for slightly over $157 million or about $2,300 per square foot...
Market Reports
It appears that Singapore's resale property market is starting to feel the chill of the government's latest cooling measures. Industry players expect sales transaction to fall by some 5 to 10 per cent by the fourth quarter, while home prices could drop by 5 per cent on average over the same period. The anti-speculative measures were implemented on August 30 to curb runaway private home prices, which have...
Large apartments are becoming scarce in Singapore as developers continue to shrink the sizes of newer units these days. For those who aspire to a bigger apartment and are looking at a value-for-money purchase, HUDC flats are an attractive option. This is clearly the case at the 918-unit Braddell View located on Braddell Hill, where there were four transactions from Aug 13 to 20. “The main attraction is...
THE new property rules introduced to cool the property boom are 'really for the HDB market' and not the private real estate sector, said CapitaLand Residential Singapore chief executive Wong Heang Fine. Mr Wong pointed out that people are still unsure about how the steps unveiled last month will affect the market. 'That will settle in the next two months and then we'll be able to assess what the real...
Analysts expect new home sales to have plunged in August Sale of new private homes are likely to have dropped to between 500 and 800 units last month, with developers and potential buyers sidelined during the Hungry Ghosts' Festival. This is according to analysts who talked to MediaCorp ahead the Urban Redevelopment Authority's (URA) monthly release tomorrow, which is expected to show transactions...
Are the Aug 30 property-related measures appropriate or do they need to be fine-tuned? Will they be sufficient to cool the property market and alleviate speculative pressure, or would other measures be needed? Lim Soon Hock Managing Director Plan-B Icag Pte Ltd I THINK the newly introduced property-related measures to cool the property market and to alleviate speculative pressure are appropriate and...
250 out of 300 units taken up at NV Residences' preview With the ghosts month ended, property buyers are coming back. But the end of the Hungry Ghost Festival isn't the only reason that there was an uptick in buying activity over the weekend. A new major launch helped, along with home seekers given more time to think over the new measures. Most of the deals were concentrated on NV Residences in Pasir...
Increase in transactions of small units keeping prices above $1,000 psf Small unit size is not only the new popular; it's also what has skewed per square foot (psf) prices upwards in recent time. The median price quantum of developer sales has dropped from about $1.4 million in April this year to $1.2 million in May and June and $1.1 million in July - but median psf prices have hovered above $1,000 psf...
Buyers waiting for prices to drop, but developers hold steady IT IS fewer visitors and even fewer sales for property showflats across the island as buyers play a waiting game in the hope of seeing prices fall. But developers' asking prices at most showflats are holding steady, with one - NV Residences in Pasir Ris - even increasing prices over the weekend. Two weeks after measures to cool the market...
More people are sitting on the sidelines but prices unlikely to head south any time soon Last Wednesday, one mass market condominium project in Pasir Ris attracted 160 buyers on its preview. Many property experts are surprised because the Government had just announced measures aimed at cooling the market on Aug 30. The market has since largely settled into a stalemate, as buyers wait for prices to fall...