50 per cent stake in retail portion of Malacca Centre in Raffles Place also transacted INVESTMENT sales of property have been gathering momentum in the private sector, with several deals inked recently. They include the Park Regis hotel at New Market Street/Merchant Road near the Singapore River, which is said to have been sold for $218 million to Indonesian mining magnate Yusuf Merukh. Separately, a 50...
Market Reports
Prices of units at the newly built, 336-unit condominium The Arte by City Developments Ltd (CDL) have been on an uptrend this year, hitting a high of $1,250 psf last month versus an average of only $880 psf during its launch last year. This comes as it attains its temporary occupation permit (TOP) and rides the ongoing transformation of the Thomson- Balestier area. At the moment, Balestier Road still...
THE Real Estate Developers' Association of Singapore has made a bold move by launching its Real Estate Sentiment Index (RESI). The industry has taken a risk going public with the sentiment index, which it developed jointly with the National University of Singapore's Department of Real Estate. As expected, brickbats have surfaced, with sceptics questioning the credibility of developers - the key...
A NEW index tracking the property market shows that developers and other industry players remain positive but believe conditions will cool down from the bullish levels seen in recent months. More developers also believe the slowing global economy and an increased supply of new development land may hit market sentiment over the next six months. The Real Estate Sentiment Index, which was launched at a...
When the property market is on a roll, it is easy to forget that property prices move in cycles - that is, prices can and will eventually correct. I know of no mature economy which has seen an uninterrupted and sustained upward cycle. Cycles are part and parcel of the function of the modern economy. In the early days, the evidence suggested that the Singapore private housing market had a cycle - from boom...
Property investors with a lower budget but with a longer term perspective towards property purchases may look at the choices available in suburban areas instead of prime locations. Analysts reckon that prices in upcoming suburban areas are still within reach and units there have upside potential as well, making them good investment opportunities. Among the new coming areas that potential buyers can...
Momentum of recovery in private residential rents also picked up PRIVATE home prices generally rose at a slightly slower pace in Q2 than they did in Q1, but latest official numbers show a broad-based growth in property prices - with stronger quarter-on-quarter gains for office, shop and industrial properties, as well as HDB resale flat prices in Q2 than in the first quarter. The momentum of recovery in...
Private home prices in Singapore continued to trend up, but at a slower pace. Data released by the Urban Redevelopment Authority (URA) on Friday showed that overall prices rose by 5.3 per cent in the second quarter of 2010, compared to 5.6 per cent in the first three months of the year. The increase pushed the residential property price index to an all-time high, surpassing the market peak of 181.4...
Private home prices in Singapore continued to trend up but at a slower pace. Data released by the Urban Redevelopment Authority showed that overall prices rose by 5.3 per cent in the second quarter of 2010, compared to 5.6 per cent in the first three months of the year. This was marginally higher than the initial forecast of a 5.2 per cent climb for Q2 reported earlier this month. The increase pushed...
Sales in first half pass $1b mark, and demand unlikely to flag: Report THE priciest homes just keep getting pricier, with the values of upmarket, prime-area bungalows rocketing this year, and sales totalling more than $1 billion in the first six months. And just to underline the boom in what are called 'good class bungalows', a Nassim Road house sold in April for $43.5 million, that is $1,800 psf and...