Analysts expect drop in transactions The local property market is in for a correction in the coming months, said industry players, citing tell-tale signs like a plateau in home prices and a drop in transaction volumes. The Singapore Institute of Surveyors and Valuers (SISV) said there were only 899 caveats lodged for condominiums in the first three weeks of last month. There were 3,060 for the whole of...
Market Reports
Industry players have said Singapore's property market is in for a correction in coming months. Tell-tale signs include a plateau in home prices and a drop in transaction volumes. The Singapore Institute of Surveyors and Valuers said there were 899 caveats lodged for condominiums in the first three weeks of May. This compares with 3,060 for the whole of April. New condominium projects are still doing...
Pebble Bay, a 510-unit waterfront condominium in Tanjong Rhu, has seen strong interest from home-buyers since early this year. Prices climbed to a high of $1,389 psf in January when a 2,099 sq ft three-bedroom unit on the sixth floor changed hands for $2.9 million, surpassing the previous high of $1,372 psf achieved at the condo in the previous peak of 2007. According to Sheirly Leo, ERA Realty Network...
Many had owned units for less than a year before they sold them for profit Nearly a quarter of those who profitably disposed of a condo or private apartment in the subsale market in the first four months of this year had owned the unit for less than a year, according to an analysis by Savills Singapore. This is higher than the 19.7 per cent who had held their properties for under a year before divesting...
A higher proportion of them are profitable and the gains have shot up, too Subsales are becoming more and more profitable. At the low point of the market in the first quarter of 2009, only 67.5 per cent of the subsales of private apartments and condos yielded a profit. That proportion grew to 95.1 per cent in Q1 this year and 96.1 per cent in April, according to Savills Singapore's analysis of URA...
The ongoing European debt crisis has had greater success in cooling Singapore's red-hot private housing market than a cluster of anti-speculation measures or even the recent announcement of a sharply-accelerated Government land supply programme. Show flats, which at times have resembled crowded scenes at a sale, have grown eerily quiet. This is partly because many developers have delayed their project...
To buy or not to buy? PRIVATE residential prices in Singapore have been climbing since the second quarter of last year, prompting home seekers and investors who haven't gotten their feet wet to wonder: 'Should I still buy now?' Some of the most prominent developers in Singapore - who are also past winners of the Singapore Business Awards - shared their views on where the property market is headed with...
More people are buying resale waterfront and city homes in Singapore. CB Richard Ellis (CBRE) said secondary sales of homes in the prime inner city districts, such as Marina Bay and Sentosa, reached S$750.8 million last year. This is higher than the average secondary sales levels of about S$738 million between 2005 and 2008. Compared with new sales last year, resale transactions in the prime inner city...
Foreigners no longer accounted for most buyers who purchased homes at more than $5 million, according to a recent study conducted by Savills Research and Consultancy, revealing that Singaporeans are now buying up pricey homes. The report showed a stunning turnaround in a trend which has prevailed for nearly three years when foreigners had led the top end of the home market in the country. The percentage...
Property developer Kheng Leong has sold 180 units in The Minton condo project in Hougang over the weekend. The units sold were part of the 300 units released in the 1,145-unit project at Lorong Ah Soo/Hougang Street 11. It has an average selling price of about $850 psf. Property agents marketing The Minton project said that the sales result was below the expected output, which was patterned in the...