Real estate agents are increasingly turning from the once-lucrative resale market to rentals, as they hunt for a living to preserve their careers and clients during what is expected to be another challenging year for the industry. The shift comes as the rental market holds its own in the housing sector, which has been hit by slowing demand following several rounds of cooling measures and lending curbs,...
Market Reports
It's now easier for tenants to negotiate rentals for private residential homes as some landlords have become increasingly concerned about the impact of looming supply of rental units, according to some property agents. SLP International Property Consultants said average rentals have fallen by 1 per cent in recent months, as they foresee more downside this year. A total of 19,907 private residential...
The Republic’s property market is in for another challenging year with cooling measures set to stay in place and with the introduction of new measures in the construction sector, City Developments Limited’s Executive Chairman Kwek Leng Beng said yesterday after the company reported an 11 per cent fall in fourth-quarter net profit. The head of Singapore’s second-largest listed developer maintained...
The number of HDB flat dwellers buying condominiums or private apartments last year fell 1.1 percentage point. According to the Singapore Real Estate Exchange (SRX), the total number of non-landed private home transactions in 2013 was 20,203 units. Of these, 9,192 units were bought by those who owned or lived in HDB flats. This accounted for 45.5 per cent of the total purchases, down from 46.6 per...
With the assurance from the Government that the property cooling measures are here to stay, housing market sentiment will remain weak as buyers stay longer on the sidelines, said analysts yesterday. This is because those looking to buy a new property can look forward to further downward price correction, after Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said on Friday that there is...
The Singapore government plans to keep property market cooling measures in place for the time being, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Friday, even as real-estate prices have shown signs of stabilising after large increases in recent years. "Given the run-up in prices in the last four years, it is too early to start relaxing our measures," Mr. Tharman told...
While a growing number of property market participants are calling for the Government to tweak some of the measures introduced to cool the market, observers said it may be premature to do so as there is still room for the sector to stabilise. Economists TODAY spoke to have raised concerns that any unravelling of the cooling measures before interest rates start to rise would, once again, heighten the...
Billionaire Kwek Leng Beng, head of Singapore’s second-largest listed developer, said last year that skyrocketing prices and restrictive rules made buying residential land here suicidal. That has not stopped international developers from rushing in. Land prices in some parts of the country are climbing at three times the pace of apartment costs, with plot values rising by an average of 30 per cent...
Property developer CapitaLand says it is unlikely to take an aggressive position in Singapore's residential property sector in this current market cycle. Group CEO Lim Ming Yan expects home prices to continue to moderating this year. Speaking to Channel NewsAsia at an earnings briefing on Wednesday, Mr Lim says the market consensus is for home prices to fall by five per cent to slightly over 10 per...
Singapore's property prices could fall by 10 to 15 per cent this year, as government cooling measures and mortgage curbs continue to dampen the property market. This is the outlook from DBS Bank's CEO Piyush Gupta. His comment came during the bank's results briefing on Friday. Since 2009, the government has rolled out a series of measures to rein in property prices, and the impact is...