Spring Grove along Grange Road has seen prices climbing since March last year and fast approaching the peak of $1,792 psf achieved in January 2008, when a 1,388 sq ft unit on the fourth floor was sold for $2.49 million. Last month, prices hit a high of $1,700 psf when a 2,701 sq ft unit on the 19th floor was sold for $4.6 million. The 14-year-old, 325-unit condominium comprises three blocks of two- to...
Market Reports
Responding to the strong demand for private housing and land for private residential developments, the Ministry of National Development last week released its "highest potential supply quantum" per half year since 2001. Comments from the industry suggest they expect the impact of this strong signal to be immediate, in terms of cooling home sales and dampening land bids. Well, the experts have been...
Developers from China are looking to break into the Singapore property sector by building mass market and mid-tier residential homes. Observers said the new entrants want to diversify from their home market, while seeking opportunities in Singapore's growing property sector. Since late 2007, China-based developers have been trying to cut themselves a slice of the pie. While they account for no more than...
Citylights, the 600-unit condominium located on Jellicoe Road and just across the street from the Lavender MRT station, has been on the radar of property investors on the lookout for apartments in the city area lately. Developed by CapitaLand, the project comprises four 42-storey condo blocks and a row of conservation townhouses. The 99-year leasehold development was first launched in late 2004, and...
Interbank lending rates have fallen to all-time lows here and market watchers have raised concerns that cheap lending may lead to over-heating in the property sector. Responding to media queries at a Ministry of Trade and Industry briefing yesterday, Monetary Authority of Singapore (MAS) deputy managing director Ong Chong Tee said the fall in Sibor rates partly reflects market expectations of a stronger...
Despite the economic uncertainties in Europe, many Singaporeans are still keen to invest in a new property. A recent survey by PropertyGuru, an online property site, found that seven in 10 home hunters will buy a property in the next 24 months. The private residential market remains resilient with a bumper sale of 2,207 new units in April. Private apartments are hot property, and public housing flats...
Maplewoods may be 13 years old but the 697- unit freehold condominium located along Bukit Timah Road has seen a resurgence of interest from home buyers. Prices have seen strong support at the $1,000 psf level since the start of the year. For the first time since January 2008, prices crossed the $1,200 psf level when a 1,410 sq ft unit on the fifth floor of one of the five blocks changed hands for $1.69...
The private property market here surged as 2,207 units were sold last month - the first time it broke the 2,000-unit mark in nine months since July last year. This was also 25.3 per cent higher than the 1,761 private homes sold in March, according to the latest data from the Urban Redevelopment Authority (URA). Demand for such housing also far outstripped supply as only 2,084 units were launched last...
Private home sales breached the 2,000-unit mark for the first time in nine months since July 2009. Figures from the Urban Redevelopment Authority (URA) show that 2,207 units were sold in April on the back of positive sentiment and resilient demand. While the transaction volume exceeded market expectations, analysts said it is unlikely to be sustainable. Private home sales in April were also 25.3 per...
Property consultant CB Richard Ellis (CBRE) says last year's total transaction value of new homes in Singapore was just 69 per cent of that in 2007. Based on caveats lodged for the full 12 months of last year, 2009 logged a total transaction value of S$16.22 billion. That's lower than the total value of new home sales for the whole of 2007, which came in at S$23.52 billion. CBRE says the lower...