Singapore's property market has been nothing but resilient in 2019. In particular, the residential primary sales market stood out as demand strengthened in the second half of the year even as trade tensions between the United States and China escalated, and the 2019 economic outlook for Singapore dimmed. Developers sold 29 per cent more new homes in the five months between July and November 2019,...
Singapore's total real estate investment volume fell 31.8 per cent to S$22.83 billion as at Dec 13, the lowest volume since 2016, according to CBRE on Thursday. This was due to a slower collective sales market this year compared with a year ago. The previous year saw a few large collective sale sites being transacted, along with the award of two Government Land Sale (GLS) sites worth over a billion...
Singapore is unlikely to ease property cooling measures as it heads into a high-stakes election that could take place in the first half of next year. Although several developers, including second-largest City Developments, have called upon the government to loosen curbs to help fix an apartment glut, such a move could cost the ruling People's Action Party votes. Relaxing property curbs risks sending...
Sales of new private homes rose 23 per cent in November from the previous month, boosted by demand for projects launched during the last two years. Developers sold 1,147 homes, excluding executive condominiums, in November, compared with 931 homes in October, according to data compiled by the Urban Redevelopment Authority (URA). Year-on-year, however, sales were 4.5 per cent lower than the 1,201...
Singapore's private housing market is poised for modest price growth next year, amid a resilient leasing market. However, developers are expected to continue being challenged by the significant supply of unsold private housing units in the pipeline although, by some estimates, the oversupply could ease by the end of 2021. Data from the Urban Redevelopment Authority (URA) shows that as at the end of the...
Singapore's property glut is an unintended consequence of government measures to force developers to build and sell apartments quickly or face stiff penalties, according to City Developments Ltd. The city-state's second-biggest home builder has come out swinging against a rule that imposes a levy on companies if they don't complete construction and sell all units within a period of five years from...
Resale prices for non-landed private residential properties in Singapore dipped slightly in November after two straight months of increase. Sales volumes also declined, according to flash figures from real estate portal SRX Property on Tuesday. Condominium resale prices fell 0.1 per cent in November from the previous month, compared with a 0.8 per cent rise in October. Volumes, meanwhile, fell 7.2 per...
Rents for non-landed private homes in Singapore rose in November from the previous month, while those for HDB flats slipped, though they were both higher as compared to a year ago. Overall condo rents increased 1.2 per cent from October, and is up by 4.6 per cent year on year. However, they are still 16 per cent below their peak in January 2013. Rents in the suburbs, or the outside central region...
With private property prices increasing at a faster rate than wage growth, property experts are saying that the affordability gap for private homes could further widen for Singaporeans. Professor Sumit Agarwal from the National University of Singapore Business School said that the divide between income growth and residential property price increases could grow bigger, with technology set to displace...
Singapore has a property glut that could take years to clear, threatening to kill a nascent price recovery amid an already uncertain economic outlook. The city-state had an overhang of 31,948 units as of Sept 30, according to the Urban Redevelopment Authority. Sales have averaged about 2,500 homes per quarter this year, and at that rate it will take almost four years to clear the backlog, according to...
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