Resale prices of private homes climbed 0.2 per cent in July from June, reversing two straight months of declines. In June, resale home prices declined 0.1 per cent from a month earlier. The price growth in July was due to higher prices of transactions recorded in the non-central region and for small units, according to the latest Singapore Residential Price Index (SRPI) flash estimates published by...
Market Reports
Property analysts on Wednesday said the government's latest measures aimed at the public housing resale market will boost leasing activity. However, they are unlikely to affect the private residential market significantly in the coming months. The new rules bar new permanent residents (PRs) from buying HDB resale flats till three years after they have obtained their permanent residential status in...
Mass-market new private residential units are proving to be more popular among Singaporeans. And many are buying them for investment purposes rather than to stay in, says an analyst. From January to May this year, the number of new private residential units sold in Singapore was 8,247 - about twice the number of resale private residential units sold. For new private residential units outside the...
Leasing demand in Singapore is up, despite some curbs on the issuance of employment passes. This is according to property consultancy Savills. Savills said the greater leasing demand is driven by an increasing number of overseas nationals who are here on a short-term project basis of between six months and a year, as well as the rising number of newly-wed couples waiting for their homes to be...
74 per cent of Singapore home buyers are delaying their property purchases, and 59 per cent of the respondents surveyed are confident prices will not decline. According to a recent survey conducted by property website iProperty Group, 60 per cent of the Singapore respondents have called for additional cooling measures. This compares to 27 per cent who do not want further cooling measures. The portal...
Sales of new private homes in Singapore plunged in July. Figures from the Urban Redevelopment Authority show that just 481 units of new homes were sold last month, down 73 percent from June. 1,806 units were sold in June. Market watchers had anticipated the sharp drop in sales transactions on the back of new loan curbs introduced on 29 June and the lack of new major project launches in July. The...
Property analysts expect new private home sales in Singapore to likely plunge by some 63 percent in July. And they say the sharp drop in sales volume is partly due to new property loan restrictions implemented on June 29. Two projects - J-Gateway and Jewel@Buangkok - accounted for more than half of the 1,806 new homes sold in June. But sales in July are expected to weaken considerably. Based...
The Population White Paper released earlier this year drew public ire with its projection that the population in Singapore could reach 6.9 million by 2030, a figure that most agree would put a tighter squeeze on resources in an already crowded city. While it brought demographic challenges into the spotlight, the White Paper stoked an underlying concern which resonated among many Singaporeans: The price...
Buying land at the prevailing high prices would be “suicidal”, City Developments (CDL) Executive Chairman Kwek Leng Beng said yesterday, as he forecast private home prices to decline 5 per cent over the next year, with the Government’s cooling measures working their way through the market. Under the law, developers with any foreign ownership — including most of the publicly-listed ones — are...
Sentiment within the real estate market has been hit hard by various cooling measures implemented by the government, with industry players anticipating an unfavourable business climate for the rest of the year. A net weighted balance of 41 per cent of property firms surveyed by the Department of Statistics expect business to slow down in the second half of the year, due to the recent implementation of...