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...
Market Reports
Property developers sell just 376 units last month despite launching four times as many units SALES of private homes continued to languish last month, with the poor sales in August - the Hungry Ghost month - proving to be more than just the usual annual blip. It was more of a sign of things to come, as the ongoing financial turmoil takes its toll on home-buying sentiment. According to data released...
Sales of private homes in Singapore improved 17.5 per cent in September, compared to the previous month. But analysts said the pickup fell short of expectations, given the low base in August caused by the Hungry Ghost Festival. The seventh month of the Lunar calendar is traditionally regarded as an inauspicious period and buyers usually refrain from making purchases during that time. Almost 300 per cent...
EVEN with the manufacturing part of the economy facing difficulties, demand for industrial space - particularly in business parks - is apparently still healthy, according to experts from the property firm DTZ. By contrast, the market for office space is softening, the firm says. Executive director Ms Chua Wei Lin said: “Demand for private industrial properties - in particular, hi-tech and business park...
Early estimates show prices of private residential properties fell for the first time in four years in the third quarter. Concerns are that times ahead may be rough. Still, about one-third of MCL Land's latest mid-range condominium project - The Peak@Balmeg - was snapped up over the last two days during its private launch. Among the visitors at the launch were Panneer Selvi and her family who have been...
After 4-1/2 years, prices dip 1.8%; turmoil may force owners’ hands THE tide has finally turned, in one analyst’s words. After more than four years, or17 consecutive quarters, of growth since early 2004, the prices of private homes posted their first decline of 1.8 per cent. And coming as this does amid a period of global financial turmoil, the flash figures herald challenging times ahead for home...
Private home prices in Singapore fell by 1.8 per cent in the third quarter, according to flash estimates released on Thursday by the Urban Redevelopment Authority. This is the first time the index of private residential properties has dipped in four years to 174.3 points in the third quarter, compared to second quarter's price index of 177.5 points, which was a 0.2 per cent increase over the previous...
Prices of resale flats rose a preliminary 4.2 per cent in the third quarter of this year. HDB said on Thursday that the figure is just slightly lower than the 4.5 per cent increase in the second quarter. For the year-to-date, prices of resale flats have risen almost 13 per cent. HDB said it has to date launched about 5,000 of the planned supply of 8,400 Build-To-Order (BTO) flats for 2008. Subject to...
Sales of new private residential homes slipped 64 per cent to 320 units in August, as compared to over 890 units sold in July. Market watchers say this is the weakest transaction volume since April 2008. At the peak of the property boom in August 2007, over 1,700 units of private homes were sold, and the 320 units sold in August 2008 was 81 per cent lower year-on-year. However, the low take-up was not...
Sales of private homes by Singapore developers dropped by 56 per cent for the year ended June 30, with only about 7,200 units being sold. However, Real Estate Developers' Association of Singapore (REDAS) believes private home prices will not drop sharply this year, despite the tight credit market and economic slowdown. President of REDAS, Simon Cheong, said: "If it drops, it will not be much more. This...