Investment sales of property so far this year have already reached $11.26 billion - surpassing the $10.62 billion totted up for the whole of last year, according to latest figures from CB Richard Ellis. The property consulting group is now forecasting that the full-year 2010 number is likely to surpass its initial projection of $15 billion and perhaps reach the $17.9 billion mark achieved in 2008. The...
Market Reports
Number of caveats lodged in May down It's official - Singapore's private residential property market cooled significantly last month, going by the number of caveats lodged. Only 1,979 caveats were lodged, down 41 per cent from April, according to latest figures from the Singapore Institute of Surveyors and Valuers (SISV). District 4 saw the biggest drop in caveat numbers, down 76 per cent. The...
It's official - Singapore's private residential property market cooled significantly in May. The number of caveats lodged fell 41 per cent on-month to 1,979, according to latest figures from Singapore Institute of Surveyors and Valuers. Still, property analysts do not expect foreign investor's appetite for homes to be dampened. Industry data showed that District 4, which includes the Sentosa, Keppel Bay...
The launch of The Vision condominium along West Coast Crescent by Hong Kong developer Cheung Kong (Holdings) in mid- March at $1,000 to $1,200 psf set a new price benchmark for the West Coast area. For instance, the two penthouses in the develop ment were sold for $1,332 psf in the first weekend of private previews. The development — designed as a high-end product, setting a new benchmark for condos in...
Developers sold just 1,078 private homes in May - about half the 2,208 units they transacted in April. This could mark the start of a period of slower sales as developers weigh their options and buyers bide their time. The two parties could have a standoff for a little while, predicts DTZ executive director (consulting) Ong Choon Fah. 'There's no great push factor to launch projects in June when you weigh...
A man went to the races and won big, taking home $50,000 in winnings. The following week, he won $25,000. Did he win big? Of course he did! When developers' sales for May hit 1,078 units - about half of April's near-record 2,208 units, the market was adjudged to have cooled significantly. Has it? Even if market sentiment had not been hit by the European debt crisis, April's near-record-breaking figure of...
Sales in May less than half that in April The feverish property market lost some of its sizzle last month, as Europe's debt crisis and the resulting retreat in global stock prices sent prospective home buyers scurrying to the sidelines, but analysts said underlying sentiment would likely remain firm, supported by Singapore's strong economic fundamentals and steady demand. Data released yesterday by the...
Singapore's property market cooled significantly in May with just 1,078 units of new private homes sold. This is about 50 per cent lower than the number of homes sold in April. Data released Tuesday by the Urban Redevelopment Authority, URA, showed a decline in transactions across all segments. Homes located in the city fringe were most popular during the month with 451 transactions. However, this...
Landed homes in Opera Estate have increasingly breached the $1,000 psf level this year. Of the 16 transactions worth more than $1,000 psf from May 1997 to May 2010, half were carried out this year, according to caveats lodged with URA Realis. The peak of $1,301 psf was hit when a terraced house at Taman Siglap Road was sold for $2.1 million in February. Opera Estate is located near the Bedok MRT station...
Early this week, a developer gave itself a pat on the back for delivering good returns on its maiden residential project. Considering that almost every established developer made record profits in their recent history, was it such an achievement? If ever there was a period which could be described as a golden era for developers, the years from 2007 to the present day - with the exception of 2008 - must be...