Property consultant DTZ said buying sentiment in Singapore's private residential market cooled in the second quarter due to the global uncertainty. Market activity slowed in May and June due to a combination of the European debt woes, local stock market jitters and increased land supply. DTZ said primary sales in the second quarter fell by 8 percent to 4,033 units, as developers slowed the pace of...
Market Reports
Existing condominiums located in neighbourhoods undergoing renewal and at the edge of the city are becoming increasingly popular with both investors and owneroccupiers. This can be seen from recent transactions at the 295-unit Parc Emily, located at the corner of Mount Emily and Niven Roads, which was developed by City Developments Ltd (CDL) and completed in 2008. Three transactions were recorded from July...
Suburban condominium developments with good accessibility and in close proximity to popular schools and amenities like public transport, shopping and eateries continue to stay at the top of homebuyers’ wish lists, despite a recent runup in average prices. Newly completed projects continue to command a premium. For instance, at the recently completed 659-unit The Parc Condominium — a massive...
Jurong West EC site and Bedok mixed-use tenders presage bumpier ride ahead The Real Estate Developers' Association of Singapore (Redas) elicited much controversy when it launched its Real Estate Sentiment Index (Resi) for Q2 2010. Sceptics questioned the credibility of developers as they would have a natural vested bias towards generating positive sentiment, which would help them sell their...
Launch prices of new condos often raise resale values of nearby developments When the show flat of a new residential project is ready, the new kid on the block often creates a buzz among the residents living nearby. People are generally curious about what the project looks like, its launch and completion date, and most importantly, the launch price. Homes in these new projects are often priced higher...
In business strategy classes, we often learn that the most successful businesses are the ones that are early leaders in identifying a need or are able to create a market by convincing consumers to pay for something which they never knew they wanted. In the last property boom, the race was to build the biggest and priciest apartment. To achieve this, projects were co-branded by contracting renowned...
Outlook still favourable but mass market properties more popular BUYERS are still showing relatively muted interest in the most luxurious homes in the city centre, the latest set of new home sales data shows. But they are making a beeline for very popular mass market homes, followed by mid-tier units, the figures show. Property experts say the outlook for the luxury sector remains favourable, though...
DEVELOPERS' sales of private homes surged 82 per cent month on month to 1,544 units in July from the low of 847 units in June, according to latest official figures. This reflects a resumption in home buying, which had taken a breather during the school holidays and World Cup. However, sales are expected to slip to around 800-1,000 units again in August, on the back of slower launches during the Hungry...
Mr. Mah Bow Tan, Minister for National Development, has dispelled rumours that the recent increase in private property prices is a solely due to foreign buying. Speaking in parliament on Monday, Mr. Mah said, "foreigners' share of all sale transactions of private residential properties in Singapore is relatively small. "In 1st half 2010, foreigners accounted for about 13 per cent of all private housing...
The Government will inject an even larger supply of private housing in its land sales programme for the first half of next year "if demand continues to be strong" - surpassing the record supply pushed out in the second half of this year. National Development Minister Mah Bow Tan gave this assurance to prospective private home buyers in a written reply to a parliamentary question by Nominated MP Calvin...