Mass market take-up rate still good despite slowdown in luxury sector There are still signs of life in the mass housing market, despite signs that the luxury sector is flattening out, according to the head of Singapore’s biggest developer. “The outlook for Singapore residential prices will probably be very flat,” saidMr Liew Mun Leong, chief executive of CapitaLand. “The mass market take-up rate...
Market Reports
It was caused not by a jump in demand, but by a contraction in supply LAST week, I suggested that the private housing oversupply may have been understated. This is because units that have been bought by investors can still be considered as part of the housing supply until they are resold or are tenanted. If the rental income cannot cover the mortgage payments and if the owners are highly geared, then...
PRIVATE home prices rose a slender 0.2 per cent over the second quarter. That’s half the Urban Redevelopment Authority’s earlier flash estimate of 0.4 per cent growth. This was the third consecutive quarter in which prices rose more slowly, after rocketing 31.2 per cent last year. “The continued weakening of the property price index continues to reflect cautious sentiment in view of the slowing US...
Prices of private homes in Singapore grew at a slower pace in the second quarter than initially projected - climbing at just 0.2 per cent against an earlier estimate of 0.4 per cent. This is a far cry from the 3.7 per cent growth in the previous three months. Analysts said this is the first time that final numbers have come in lower than flash estimates, suggesting that home prices are finally...
Prices for public housing on the resale market have risen, while those for private property have moderated for the second quarter of 2008. According to latest official figures, there has also been little upward movement in the private property rental market. Data for the HDB resale and rental markets based on transactions in Q2 saw HDB's Resale Price Index (RPI) up 4.5 per cent, compared to the 3.7 per...
SINGAPORE’S booming office market is facing a drop in demand and a slowdown in rents that have left many wondering: What happens next, when a host of new developments are launched? Tight supply and high demand, mostly from financial institutions, made Singapore the ninth most expensive office market in the world, ahead of rival Hong Kong, according to property consultant CB Richard Ellis. Rents nearly...
There is a distinct possibility of lower prices with so many developments set to be completed at the same time RECENT arguments against earlier predictions of a private housing oversupply are overblown, and cannot be further from the truth. In fact, those predicting an oversupply are probably understating their case. How bad the market fares will depend on the economy. But, leaving the economic factor...
Rents in Singapore's prime residential sector are expected to ease further. According to consultants Jones Lang LaSalle, it's expecting to see a 4.5 per cent contraction for the whole year. It has already weakened by two per cent year to date. In its mid-year review on the Singapore property market, Jones Lang LaSalle also notes an easing in the resale prices of luxury projects in the prime...
Up to 75,000 new jobs could help to prop up market HOMES for the masses have always been the backbone of Singapore’s residential market. And, with the two integrated resorts (IRs) expected to employ some 75,000 people, demand for such housing is likely to go up. Both IRs are expected to draw a significant influx of “foreign talent”, simply because Singapore does not have enough people with the...
Office rents in Singapore are starting to show signs of peaking, said property analysts. They noted that prime rental costs have generally increased at a far slower pace in the first half of this year, compared to 2007. Looking ahead, they expect office rents to soften even more towards the end of 2009 and early 2010 as demand for prime space eases. Donald Han, managing director of Cushman &...