Increased sales strongly suggest that buyers are convinced property prices have bottomed, or are low enough for them to re-enter the market, writes EMILY ENG GIVEN the recent euphoria in the residential market, it is no surprise that it has become a hot topic of discussion. Isn't Singapore still in recession, people wonder. Unemployment is still high, with an estimated 116,600 jobless residents as at June...
Market Reports
Prices have more than doubled over the last decade PRICES of good class bungalows (GCBs) have picked up strongly since early this year, topping prices fetched in the last property peak in 2007. GCBs are owned by a select group of wealthy individuals, who may well own more than one such bungalow. There are an estimated 2,500 GCBs in Singapore today. By definition, GCBs need to have a plot size of at least...
Buyers took advantage of lower prices, which have corrected by some 20 to 30% from the peak, and low interest rates to buy their dream landed homes A HOME these days has become more of a lifestyle statement and status symbol than just a roof over one's head. And what could answer both aspirations better than a plot of freehold land where the owner can dictate every last detail in a custom built house? So...
CapitaLand said on Tuesday 233 units were sold in the preview sales of its Interlace condominium project, which will be built on the former Gillman Heights site. The prices for the 360 units that were released for sale ranged from S$850 to S$1,150 per square foot. The developer said nearly two thirds were sold, including two, three, and four-bedroom apartments and penthouses. Located on an 872,000...
Hungry Ghost Festival is over and buyers are set to return, say analysts DESPITE Monday's announcement by the Government to cool the hot property market, observers expect private property showrooms to continue to be packed with eager homebuyers and investors this weekend. Some property agents whom Weekend Today spoke to said that enquiries over the past week have been brisk, with some asking about early...
In the Marina Bay area, transactions at Marina Bay Residences have once again reached stratospheric levels, with prices returning to levels seen in 2H2007. Sub-sales of units at Marina Bay Residences have steadily crept up from a low of $1,433 psf in April to a high of $2,500 psf last month. This is the highest price per square foot achieved not just in 2009 but since May last year, when a 3,961 sq ft...
So far the market seems to have taken in its stride the removal of the interest absorption scheme (IAS) for properties. The knee-jerk decline of 43 points by the STI on Monday was followed by a sharp rebound on Wednesday as broader economic recovery factors continue to dominate. But there is an impending overbuilding of residential property in Singapore. According to Leong Wai Ho,director and senior...
Prices of 99-year non-landed homes sold in the third quarter of this year have increased across the board – across new, resale and sub-sale markets. CB Richard Ellis, the world's largest commercial real estate services firm, said its analysis of caveats lodged showed an 11.0 per cent in median prices of new leasehold homes - from S$825,000 (S$660 psf) in the second quarter to S$916,000 (S$769 psf) in...
Property investment sales rose 13 per cent between July and September to S$1.8 billion, compared to the previous quarter. The improved performance was buoyed by better market and investor sentiments. In its latest report, property consultancy Jones Lang LaSalle said the residential sector dominated investment sales, accounting for 52 per cent of total sales. Investment sales in the residential sector...
This year's Hungry Ghost Festival has spooked buyers in the property auction market, but enough cash was still burned up to set a three-year high in sales. Property consultancy Colliers International said on Wednesday only 14 out of 85 properties put up for auction during the Hungry Ghost Festival, which began on August 20, were sold. That works out to a successful transaction rate of just 16.4 per...