The Urban Redevelopment Authority on Tuesday (Jan 13) announced it is proposing to rezone parts of Geylang, so as to better manage the area in question and "prevent spillover of disamenities to surrounding areas". URA said the proposed area is bounded by Geylang Road, Lorong 22 Geylang, Guillemard Road and Lorong 4 Geylang, excluding the parcels of land zoned Road, the lots fronting Geylang Road and the...
Market Reports
Resale prices of non-landed private homes inched up 0.1 per cent in December 2014 from the previous month, while resale volume remained flat, according to flash estimates from SRX Property on Tuesday (Jan 13). Year-on-year, resale prices dropped 4.2 per cent from December 2013. Compared with the recent peak in January 2014, prices have declined 6.1 per cent, SRX said. Resale prices of private homes...
Private home prices in Singapore are expected to ease for a few more quarters and according to a property analyst, that is because loan curbs - including the total debt servicing ratio framework that was introduced in 2012 - would continue to cool home buying interest. Numbers from the Urban Redevelopment Authority (URA) show that for the whole of last year, private home prices fell 4 per cent. Mr...
Private residential property prices fell 1 per cent in the fourth quarter of 2014, according to Urban Redevelopment Authority (URA) flash estimates released on Friday (Jan 2) - a larger decline than the 0.7 per cent slide in the previous quarter, and the fifth consecutive quarters of price decreases. For the whole of 2014, prices have fallen by 4 per cent, the URA said. Overall, the private...
Resale prices of private homes dipped slightly last month, according to Singapore Residential Price Index (SRPI) flash estimates, which were released on Monday (Dec 29). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices decreased 0.3 per cent in November from the previous month. In October, overall prices rose 0.4 per cent from a month...
Rentals of shoebox units could fall by five to ten per cent in the coming years due to an expected increase in supply, said property analysts. Shoebox units are small apartments - they include one-bedroom or studio units and are often bought as investments. About 6,200 shoebox units will be completed in the next two years. Property consultant SLP International said this is a record number - compared...
The Total Debt Servicing Ratio was introduced in late Jun 2013, but it was in the fourth quarter of the year that private home prices registered the first drop in almost two years. Since then, it has been on a downward trend and property watchers expect prices to continue falling in 2015 amid weakening demand and a large oncoming supply. Including executive condominiums, official estimates put the...
The number of homes put up for mortgagee sale at auctions surged seven-fold this year, property agency Colliers International said yesterday, warning that the worst had yet to come. Of 529 properties put up for auction this year, 159, or 30 per cent, were mortgagee sales, five times the 32 properties put up by lenders in 2013. Of the mortgagee sales, 123 or 77 per cent were for housing, more than...
Rental prices for both non-landed private units and Housing and Development Board (HDB) flats fell in the month of November, according to flash estimates released by the Singapore Real Estate Exchange (SRX). In a report issued on Wednesday (Dec 10), rentals for private homes dipped 0.8 per cent month-on-month in November - representing the 10th consecutive month of falling prices. Rents in all three...
The number of real estate transactions in Asia will grow substantially next year, according to Collier International's Asia Property Outlook 2015. This is because pent-up demand from investors will be gradually satisfied by a growing volume of new supply anticipated in 2015, said Mr Dennis Yeo, Interim Chief Executive Officer (Asia) of Colliers International. Besides new stock, there will also be...