Recent measures to cool the property market in China, Hong Kong and Singapore are seen as the right moves to temper speculation and rapidly rising prices. Still, industry watchers said that prices will have room to move upwards over the next two years. This is because interest rates in Hong Kong continue to be low, and high-end property prices in Singapore are still below their peak. Private home prices...
Market Reports
Recently, apartments at the 189-unit The Trumps have increasingly crossed the $800 psf level, even surpassing the 2007 peak of $896 psf. Last August, a high of $975 psf was achieved when a 1,270 sq ft unit on the 16th floor sold for $1.24 million. Located a street away from the Kembangan MRT station, the five-year-old condominium is attractive to families with young children as it is a short drive to good...
The Government has introduced two new measures to cool the property market and pre-empt a bubble from forming in the private homes sector. They come into effect Saturday. The Ministry of National Development said this will help ensure a stable and sustainable property market, and to curtail the HDB resale market where prices tend to track private property movements. From Saturday, it will be more...
With the opening of Genting Singapore’s Resorts World at Sentosa integrated resort, there has been a flurry of transactions at Caribbean at Keppel Bay and also the upmarket condominium projects in Sentosa Cove. In the week of Jan 15 to 22 alone, there was a total of nine new sales and resales. The condominium that saw the most resale activity was the 969-unit Caribbean at Keppel Bay developed by Keppel...
Data released Wednesday by the Urban Redevelopment Authority (URA) showed that 1,476 units were sold in the first month of the year, about triple the 481 units sold in the previous month. The rise in the number of private homes sold also breaks a five-month streak of declines. As was the trend in previous months, higher-end projects were more popular. Cube 8, a City Developments project located at...
It’s starting to look like a self-fulfilling prophecy, as far as prices in the high-end residential segment in Singapore are concerned. Anecdotally, there’s evidence that some cash-rich speculators are also back in the market, according to some property consultants. Notable secondary market transactions in the week of Jan 8 to 15 at The Tate Residences, Ardmore II and Scotts Square have seen a spike...
Residential property prices in Singapore increased 7.4% in last three months of 2009 as the property market made a quick recovery from a nightmarish start to the year, the latest published figures show. This followed the previous quarter's increase of 15.8%, a turnaround from a fall of 18% in the first half of 2009, leaving the annual price increase at 1.8%, said the Redevelopment Authority. Prices of...
A Singaporean who only wants to be known as Mr Tan put his three-bedroom, 1,528 sq ft unit at Chuan Park condominium on Lorong Chuan for sale a month ago. Within a day, he found a buyer who was willing to pay his asking price of $980,000, or $641 psf. “We sold because the price reached our expectations,” he says in a phone interview. “The property may be old, but it is well-maintained. Rental demand...
Hot on the heels of the successful private preview of City Developments Ltd’s 177-unit Cube 8 on Thomson Road, with 85% of the units sold in four days at an average price of S$1,250 (RM3,025) psf, Allgreen Properties started private previews at its 83-unit high-end condominium, Holland Residences, last Monday. All 35 units released in the first phase were taken up by Wednesday, and another 33 units were...
Far East said to be top seller in January; Lippo and MCL may release some units EVEN as developers have gotten off to a good start this year, selling well over 1,000 private homes in January, their launch machinery remains well oiled for more roll-outs in the near future. Lippo Group is expected to preview Centennia Suites on the former Kim Seng Plaza site, diagonally opposite Great World City, later...