With an impending oversupply of private residential homes, the Real Estate Developers' Association of Singapore (REDAS) has said it is ready to work with the Government to address the situation. REDAS estimates that there will be 67,000 new units by 2019, excluding executive condominiums. This represents 20 per cent of the total number of private residential units currently. Only 6,500 homes were...
Market Reports
For those holding out for a rollback of property curbs after an election victory by the People’s Action Party (PAP), the wait may be longer than anticipated. The pace of decline in home prices will need to double the 6.7 per cent drop from the peak two years ago before any of the restrictions are eased, said Chestertons Singapore and RHB Research Institute Singapore. “The winning of a...
Sales of private homes by developers slumped 69.3 per cent last month amid a quiet market with few launches. Excluding executive condominiums (ECs), developers sold 495 new units in August, down from the 1,611 units sold the previous month, data from the Urban Redevelopment Authority (URA) showed on Tuesday (Sep 15). Including ECs, 961 units were sold last month, down from 2,106 units in...
Much has been done in the area of housing, but it remains a “work-in-progress” in the face of changing demographics, said National Development Minister Khaw Boon Wan, who on Monday night (Sep 7) reminded voters that this General Election (GE) is like buying a new house — too important to leave to chance. Speaking at a People’s Action Party (PAP) rally for Sembawang Group Representation...
The resale volume of non-landed private residential units was up 16 per cent year-on-year in August, with 466 units resold, according to latest data from SRX Property released on Tuesday (Sep 8). However, compared to the previous month, resale volume declined 16.8 per cent from the 560 units resold in July. Resale prices inched up 0.2 per cent from July, driven by units in the Rest of Central Region,...
Resale prices of private homes remained unchanged last month, according to Singapore Residential Price Index (SRPI) estimates, which were released on Friday (Aug 28). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices stayed flat in July from the previous month. Prices of homes in the central region, excluding small units, increased...
The increases in income ceilings for households buying new Housing and Development Board (HDB) flats and Executive Condominiums (ECs), and the Proximity Housing Grant will drive more buyers to the public-housing market and hit the private residential sector, said analysts on Sunday (Aug 23). In his National Day Rally speech, Prime Minister Lee Hsien Loong announced the raising of the income ceilings for...
New private home sales in Singapore rose more than four-fold in July from June – reaching a two-year high – with the bulk of sales involving one development. Data from the Urban Redevelopment Authority (URA) on Wednesday (Jul 15) showed developers sold 1,594 private residential units in July compared with 375 units sold in June. The 1,390-unit High Park Residences, located on Fernvale Road in...
Property-cooling measures will stay for now and the right time to adjust or even lift some of the temporary initiatives is when the market equilibrium is a lot more certain and sustainable, said National Development Minister Khaw Boon Wan. Private-home prices fell 0.9 per cent between April and June, continuing a slide for the seventh quarter running — the longest streak in 13 years. However, in an...
While the Government has done much to address the public dissatisfaction with housing that came to the fore in the 2011 General Election, National Development Minister Khaw Boon Wan told TODAY in an interview there remains more to be done, such as addressing the needs of singles and people who suddenly find themselves in financial hardship. For the masses, their rising expectations — which Mr Khaw...