There may be worries about the world economy – especially with the ongoing subprime crisis and rising standards of living – but that hasn’t stopped interest in luxury hotels from making a steady comeback. With the recent entry of a new player in Singapore’s luxury hotel industry, the exclusive St Regis, competition looks set to heat up. St Regis opened the Saturday before Christmas, but even...
Market Reports
With the high-end luxury segment leading the residential sector in price increases this year, Singapore developers have been roping in global names to give their projects that extra touch of distinction.A growing number of partnerships are being formed, especially with companies in branded home furnishings. Reflections at Keppel Bay is among the high-end residential projects set to be completed in...
The number of new private homes sold in Singapore rose unexpectedly last month in a traditionally-quiet period, amid volatile market conditions. The Urban Redevelopment Authority (URA) said yesterday that 611 new units were sold last month, up from 590 in October. Developers launched 598 units last month - which is slightly lower than the 629 in October. “The market thought that November would be...
The number of new private homes sold in Singapore last month rose marginally as sentiment remained cautious amid volatile market conditions. There were 590 new units sold last month, up from the 529 units in September, the Urban Redevelopment Authority (URA) said yesterday. Developers launched 629 units last month, slightly higher than 590 units in September. Despite the lacklustre interest, prices have...
Private home prices rose islandwide in the three months ended Sept 30, but the Urban Redevelopment Authority (URA) said more supply is in the pipeline to meet demand. “As at third quarter 2007, there were about 65,400 private residential units in the pipeline, comprising the supply from projects that are already under construction and those that have been granted planning approval but are not under...
NEWS that private home sales slowed last month battered property stocks yesterday, but analysts are not interpreting the numbers to mean the start of a downturn for the sector just yet. Forty-three of the 52 listed property shares were down. Among the biggest price-percentage losers were LC Development and Orchard Parade Holdings, which were down 5.9 per cent and 4.5 per cent to $0.48 and $1.90,...
The prices of private residential property in Singapore increased by eight per cent in the third quarter of this year, compared to the previous three months, according to the flash estimate by the Urban Redevelopment Authority. Based on the estimated price index of private residential property, it said prices rose from 147.8 points in the 2nd quarter to 159.6 points in the 3rd quarter. This represents an...
The recovery in mass market property sales in Singapore started as far back as a year ago. According to consultant CB Richard Ellis, this debunks the notion that the recovery for mass market projects has trailed the high-end market until the last few months. But, even with sales rising for some 12 months, CBRE’s research has found that prices only started edging up in the last six months. The study...
The strong demand for office space in the central business district has spilled over to the rest of Singapore. According to property consultants DTZ, the occupancy rate for office space islandwide climbed to 97.6 percent in the third quarter. This is largely because of an acute shortage of office space in the Central Business District (CBD). DTZ says the shortage is due to the demolition of Asia...
The number of new private homes sold by developers in the first nine months of this year is expected to total 13,900, according to property consultant Knight Frank. This will exceed the 11,147 new units sold by developers in the whole of last year. Knight Frank said developers continued to exhibit confidence in the property market by releasing several new residential projects into the market. However, it...