Private home prices remained firm in the second quarter, sending the residential property price index to a record high of 184.1 points. Private residential prices increased by 5.2 percent quarter-on-quarter in the April-June period, according to flash estimates released by the Urban Redevelopment Authority (URA) on Thursday. The figure beats the 3 percent rise forecast by some analysts. But market...
Market Reports
The Singapore property auction market rose 20 per cent on-year in the first half of this year to S$87 million, according to property consultants Colliers International. A total of 440 properties were put up for auction, of which 378 properties were from property owners while only 62 were mortgagee sales. Colliers said the sharp fall in the number of properties put up for mortgage sale is a reflection of...
The private property market saw some slowing down during the second quarter of the year. Property consultant CB Richard Ellis (CBRE) forecast that about 4,000 new homes were sold in the second quarter, lower than the previous quarter's figure of 4,380 units. Also, in the resale market, CBRE estimated that 3,400 to 3,600 resale homes were sold in the second quarter. If confirmed, that would be 15 to 20...
Increases in private home prices are expected to slow down in the second quarter after climbing 5.6 percent in the first quarter. Colliers International said suburban homes could cost 2 to 3 percent more on average for the next two quarters. Prices of suburban homes have already surpassed the peak by about 10 percent. Meanwhile prices in the luxury segment have been projected to grow by up to 20 percent...
There's been more signs of a slowdown in the private property market here in the second quarter. Property consultant CB Richard Ellis (CBRE) forecasts some 4,000 new homes were sold in the second quarter, lower than the previous quarter's figure of 4,380. In the resale market, CBRE estimates some 3,400 to 3,600 resale homes were sold in the second quarter. If confirmed, that would be 15 to 20 percent...
It may be three years before Double Bay Residences is completed, but some buyers of the sold-out, 646-unit condominium at Simei Street 4 have already cashed out for a profit. The 99-year leasehold project was launched in March last year amid much uncertainty in the property market. Units went for as low as $409 psf, with the average selling price in the $600 to $650 psf range. With the property market...
Do not expect the private residential property market to cool abruptly in the second half of this year. While property sales and home prices in some segments may soften in coming months, industry experts say the market is not likely to see a steep correction. Observers believe buyers still have excess funds to chase more units here, with many considering property investing to be a safe haven compared to...
THERE is probably no bubble in Singapore's property market, Minister Mentor Lee Kuan Yew said yesterday. The sharp price rises that have been seen are 'part of the total liquidity in the whole world system', said Mr Lee, noting that interest rates are low, and foreigners still see properties as affordable. 'Even if we cap our excess, people in Hong Kong, Indonesia, will say, compared to what I have to...
The pace of growth in home prices has slowed in the second quarter of 2010 with the exception of the mass market segment, said DTZ Research. According to DTZ, the resale prices of leasehold homes in the suburban areas rose by 4 per cent in Q2 on-quarter to $648 per square foot (psf) compared with the 2.1-per-cent increase recorded in the first three months of the year. Looking ahead, DTZ expects prices...
The rate of increase in housing prices in Singapore slowed down in the second quarter of this year, according to property consultancy firm DTZ. It said resistance to the high asking prices and the uncertainty in the stock market sidelined buying interest in the property market. The only exception was in the mass market segment where prices of secondary condominiums and apartments went up further compared...