Prices of resale private homes rebounded in January, rising 0.3 per cent, reversing the previous month's 0.2 per cent decline, according to the Singapore Residential Price Index flash estimates published by the Institute of Real Estate Studies at the National University of Singapore. The increase in January was led by price growth in the small unit segment, defined as homes below 506 square feet. In...
Market Reports
Landlords of private homes may see the rental market softening when higher property taxes kick in next year, as these investors grapple with higher holding costs. Owning luxury or investment homes will incur higher property taxes starting January 2014. For private homes not occupied by owners, new marginal property tax rates of 12 to 20 per cent will be levied in addition to the current 10 per...
The upcoming Woodlands Regional Centre, which aims to bring jobs closer to homes in the north, will have two distinct precincts. National Development Minister Khaw Boon Wan revealed this as he unveiled preliminary plans for the area on Sunday. The plans are part of Singapore's draft masterplan for land use which will be exhibited later this year. The two precincts will be developed from some 100...
Anyone in the research business will appreciate the complexity of the data and the gargantuan efforts involved in producing the Population White Paper and the Urban Redevelopment Authority’s (URA) Land Use Plan. After analysing historical data, projections were made based on a desire for economic growth to arrive at the scenario (or what is now considered the “worst case”) of a 6.9 million...
La Fiesta by EL Development topped the list of best-selling residential projects for the month of January recording sales of 404 units, reported Singapore Business Review. Located in Sengkang, the condo project released 500 units for sale last month at a median price of S$1,163 psf, according to data from the Urban Redevelopment Authority (URA). In January, a total of 2,013 private homes excluding...
Sales of new private homes in Singapore jumped by about 43 per cent on-month in January 2013, despite the latest round of cooling measures introduced last month. According to the Urban Redevelopment Authority (URA), 2,013 units of new private homes - excluding executive condominiums - were sold in January, compared to 1,410 units sold in December 2012. A URA spokesperson said about 60 per cent of the...
The Real Estate Developers' Association of Singapore (REDAS) said property developers are feeling anxious as the latest round of cooling measures took effect last month. Singapore's top property developers gathered on Friday to celebrate the Lunar New Year. Newly-elected REDAS president Chia Boon Kuah told a crowd of 500 that property developers will continue taking part in land bids, which form their...
Home sales were brisk during the Lunar New Year holidays. Five buyers each bought a unit at La Fiesta in Sengkang between 9 and 11 February. They are four Singaporean Chinese, who are first-timers, and one Indonesian. Mr Lim Yew Soon, managing director of EL Development, which developed La Fiesta, observed the crowd during the Lunar New Year was similar to any "regular weekend." But he admitted that the...
The latest round of property cooling measures announced on Jan 11 triggered a sell-off in the shares of developers as analysts predicted a drop in private housing prices, but opportunities await tax-savvy investors, who may find the post-curb market not as inhospitable as initially perceived. There’s no question that real estate has proven itself to be a sustainable asset class. Yet the additional...
Far East Organization has topped the list of property developers in Singapore yet again for best sales figures last year at 2,181 private homes, or around 10 percent of the total number of 22,290 new units sold. Among its best-selling projects were The Hillier in Hillview Rise and Watertown in Punggol, according to DTZ Research. In second place is City Developments Limited (CDL) and parent company Hong...