YOU might have noticed that there are fewer ads for home launches. Perhaps you have also overheard that some condominiums in a prime area just went for a price you could only dream of a year back. Yesterday, official data bore out the coffee-shop talk that has been making the rounds. Reflecting weak consumer confidence, private homes sold and launched last month plunged to their lowest since June last...
Market Reports
Only 159 private homes were launched in October this year - the lowest in more than a year. The slide of almost 80 per cent from the 767 units launched in September is due to poor economic conditions, and the technical recession that has hit Singapore. About 194 units launched in August 2008, during the traditionally slow market in the seventh lunar month. The central region made up almost half the new...
New home sales in Singapore dived 70 per cent in October compared to September as home buying sentiment continued to sour. According to Urban Redevelopment Authority’s (URA) data, developers sold 112 new and uncompleted private residential homes last month, versus the 380 units sold in September. They launched just 159 units for sale, compared to nearly 767 in September. The most expensive unit sold...
Impact of any delay likely to be greater in luxury segment THE uncertainty surrounding the two integrated resorts projects — in particular, the Marina Bay Sands — is unsettling already fragile sentiment in the property market. After all, the prospects for economic benefits from the IRs have been positive for the market. But recent developments and positive announcements from the operators have eased...
VIPs including Minister Mentor Lee Kuan Yew had the chance to tour The Pinnacle@Duxton on Sunday, and they were impressed by what they saw. All seven blocks at The Pinnacle are linked by sky-bridges. On the top-most 50th storey is a sky garden with breathtaking views of the cityscape. HDB names it “The Contemplative Zone”. On the 26th storey, there is an 800-metre long jogging track as well as...
There may be many good buys available at the height of the fear cycle AS A novelist, Charles Dickens’ works appeal to readers of all generations because he understood the psyche of the human race. He realised that we are people of extremes. When things are bad, we often see them as worse than bad. Conversely, when things are good, we are inclined to see them as better than good. During current times,...
THE leasing market has become the latest casualty of Singapore’s weakening property market, with both residential and office rents posting their first declines since 2004 in the third quarter of this year. According to Urban Redevelopment Authority figures released yesterday, rentals of private residential properties fell 0.9 per cent in the third quarter, compared to a 2.5 per cent rise in the second...
Singapore's Housing and Development Board (HDB) released data on Friday that showed prices of resale flats rising by 4.2 per cent in the third quarter, as compared to the previous quarter. This was in line with estimates released earlier this month. Sales volume also went up by about four per cent from 7,760 to 8,110 transactions. HDB said the median Cash-Over-Valuation (COV) amount for all resale...
Prices of private residential properties in Singapore dropped 2.4 per cent in the third quarter of this year from the second quarter, snapping four years of growth. The figure fell short of an initial estimate of a 1.8 per cent decline, on the back of an economic downturn. Costs of high-end properties in prime districts continue to trend down, dipping 2.7 per cent, while prices in mid-tier and mass...
Singapore's commercial property sector may see a lot more downside, says Chor Hoon Chua, senior research director at DTZ. She tells CNBC's Martin Soong that commercial property rentals can fall as much as 60% over the next two to three...