A host of issues continue to plague developers here - from an oversupply of residential units, a ballooning unsold inventory to rising costs of development and operations. "As such, prices cannot drop too deeply without affecting the quality of our products and operational obligations," said president of the Real Estate Developers' Association of Singapore (Redas), Augustine Tan, at the Redas...
Market Reports
Resale prices of private homes rose last month, according to Singapore Residential Price Index (SRPI) estimates, which were released on Wednesday (Oct 28). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices increased 0.1 per cent in September from the previous month, when prices fell 0.7 per cent from a month earlier. Prices of small...
Prices of private residential properties in the third quarter fell by 1.3 per cent from the previous quarter - the eight consecutive quarter of decline, the Urban Redevelopment Authority (URA) said on Friday (Oct 23). The decline was sharper than in the second quarter, when prices fell 0.9 per cent. The fall was observed across all segments of the private residential property market, URA said....
THE supply of uncompleted private homes in the pipeline continued to fall in the third quarter; the figure eased to 58,348 units as at the end of the third quarter from 61,237 units at end-Q2 2015. This was shown in Urban Redevelopment Authority (URA) data released on Friday. The above figures exclude executive condos (ECs), which are a public-private housing hybrid. URA defines pipeline supply as...
It is still “not time yet” to ease the measures that were put in place to cool the property market, National Development Minister Lawrence Wong said on Friday (Oct 16). Speaking to reporters during a visit to the Waterway Terraces BTO project in Punggol, Mr Wong said the price adjustments so far have been moderate compared to the increases in earlier years. “We don’t want to risk a premature...
Sales of new private homes slumped 33.5 per cent last month as developers continued to scale back new launches. Excluding executive condominiums (ECs), developers sold 341 units in September, down from the 513 units sold the previous month, data from the Urban Redevelopment Authority (URA) showed on Thursday (Oct 15). Including ECs, 629 units were sold, down from August’s 979 units. The...
The private housing market remained in the doldrums in September, with sales of non-landed units continuing to decline, according to flash estimates from SRX Property released on Tuesday (Oct 13). A total of 446 non-landed private homes were resold last month, down 10.6 per cent compared to the 499 units resold in August. On a year-on-year basis, resale volume was down 4.7 per cent from the 468 units...
The overall private residential property index fell for an eighth straight quarter, with prices down by 1.3 per cent in the July to September period, compared to the 0.9 per cent decline in the previous quarter, according to Urban Redevelopment Authority (URA) flash estimates released on Thursday (Oct 1). Prices of non-landed private residential properties declined in all market segments, the URA said....
Resale prices of private homes fell again in August, according to the Singapore Residential Price Index (SRPI) flash estimates released on Monday (Sep 28). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices declined 0.6 per cent in August from the previous month. In July, prices fell 0.2 per cent from a month earlier. Prices of homes...
In its latest call for the Government to scale back on property curbs, the Real Estate Developers’ Association of Singapore (REDAS) cautioned about a collapse in the housing market, saying that a deterioration in economic sentiment, dwindling sales and greater upcoming supply would risk precipitating a downward spiral of property prices. “The property market is clearly heading for a different phase,...