Demand for new private homes in Singapore jumped 15 per cent in November, led by strong sales from new launches such as Duo Residences in Bugis and Alex Residences at Redhill. According to data from the Urban Redevelopment Authority (URA), 1,228 units of new private homes were sold in November, up from a revised 1,070 units transacted in October. Among the units sold, 214 are located in the suburban...
Market Reports
The buying interest for private homes in the city is expected to make a comeback as prices continue to moderate. Some property analysts believe demand for these high-end homes could pick up as early as the middle of next year. But others have said the cooling measures may still weigh on buying sentiment going forward. The brisk sales at DUO Residences at Bugis recently showed that there is still...
The en bloc market has slowed significantly this year as developers turned cautious following the government's cooling measures and loan curbs. The value of en bloc transactions fell to S$1.3 billion so far this year, down from S$1.4 billion in 2012 and S$3.2 billion in 2011, according to property consultant Jones Lang LaSalle. Eunosville is up for en bloc sale for the second time, after its first...
The property market here may be losing its shine, as Singapore falls out of the top five Asia-Pacific real estate investment destinations for next year in a joint survey of industry professionals by PricewaterhouseCoopers (PwC) and the Urban Land Institute (ULI). The PwC-ULI report, Emerging Trends In Real Estate Asia Pacific, found that Singapore fell to seventh place for 2014 from third place this...
Singapore's household net wealth has grown over the past 10 years and now stands at about four times GDP as at the third quarter this year. But the Monetary Authority of Singapore (MAS) warns that some over-leveraged households may be vulnerable when interest rates increase. In its annual financial stability review report, the central bank says household debt has gone up over the years, with mortgage...
While property measures implemented over the last few years have dampened the rising momentum in the housing market, price levels remain high and the Government will step in, if necessary, to ensure stability and sustainability, the Monetary Authority of Singapore (MAS) said yesterday. Sales volume and price growth in the housing market have moderated, but developers continue to put in firm bids for...
Resale prices of completed non-landed private homes in Singapore fell at a faster pace last month, with weakness across all categories as evidence builds that the Government’s efforts to cool the housing market are working. The Singapore Residential Price Index fell 1.2 per cent to 159.1 points last month from a revised 0.9 per cent decline in September, the National University of Singapore said...
Property developers may be taking a more “conservative” stance when bidding for land, said analysts after the Urban Redevelopment Authority (URA) closed the tenders for two private residential sites at Upper Serangoon View yesterday. The adjacent land parcels attracted eight bids each, with Kingsford Development, owned by Chinese nationals, coming in top for both sites at S$258.8 million and S$201.6...
Prices of resale private homes continued to soften in October. According to the flash estimate of the NUS Singapore Residential Price Index (SRPI), overall resale private home prices dipped 1.2 per cent last month. This is compared to a 0.9 per cent on-month decrease in prices in September. The SRPI showed that resale prices for private homes in the central areas fell 1.4 per cent while those...
Developers and their marketing agents for recent property launches must have heaved a sigh of relief as investors returned in droves to the private housing market. Dogged by weak sentiment in the previous three months, many sellers have been losing sleep trying to face up to a market that they believe has reached that dreaded turning point — with prices going downhill henceforth. If feedback to the...