Rentals for private homes may have hit record prices and volume in 2012, but some market experts said the market will be slower in 2013. Median rents as of October 2012 has reached S$3.75 psf, 14.3 per cent higher than the S$3.28 psf in Jan 2011. Commodities trader Pushkar Jamnerkar will be looking to work and live in Singapore with his family for the second time. However, property prices have spiked...
Market Reports
Prices of new private homes in Singapore rose to a new record in the fourth quarter of 2012. This comes on the back of rising demand for private homes in the sub-urban areas. Preliminary data from the Urban Redevelopment Authority (URA) showed a 1.8 per cent quarter-on-quarter increase to a record 211.9 points in the fourth-quarter period from the previous quarter. But prices increased by about 2.8 per...
Prices of completed non-landed private homes surged 1.9 per cent last month from the previous month, accelerating sharply from October's 0.8-per-cent rise, according to the advance estimates of the Singapore Residential Price Index (SRPI) released yesterday. According to the SRPI, developed by the National University of Singapore's Institute of Real Estate Studies, homes in the Central region led gains...
Iskandar Malaysia was launched in November 2006 with the aim of developing the southern Johor region into a strong and sustainable metropolis of international standing. With a total area of 2,217 sq km, the region will have five flagship zones including the Johor Baru City Centre, Nusajaya and Senai-Skudai, and will incorporate work, live and play elements. A number of key projects have been planned to...
It has been a record year on the housing front, with a bumper crop of 27,000 Build-to-Order (BTO) flats launched in 2012, 2,000 more than originally planned. This brings the total number of flats launched in the past two years to more than 52,000. The increase in the number of flats has helped meet the demands of many first-time home buyers. The overall first-time application rate through the year has...
Prices of industrial properties in Singapore have risen by some 27 per cent in the first three quarters of 2012. Some analysts say prices could climb by 30 per cent for the entire year, one of the highest in recent years. They attribute the increase to buoyant demand for strata-titled industrial premises. Low interest rates, high liquidity and cooling measures in the residential property segment have...
Despite six rounds of cooling measures in the last couple of years, the private property market continued its uptrend unabated in 2012. Although data for December is yet to be out, but both sales volume and prices of new private homes have already surpassed previous highs. In the past two years, the Yaps have bought four private properties, three of which were in 2011. They hold to the view that...
As we approach the end of the year, analysts' property market forecasts for 2013 and beyond are coming in thick and fast. From the reports I have read, it is quite a mixed bag - some are negative while others are mildly positive. The forecasts in themselves are not really as important as the reasons cited to back them up. The reason I say this is that given the uncertain and abnormal global environment, I...
Two 99-year leasehold residential sites released under the Government Land Sales (GLS) Programme this month are expected to receive healthy interest from developers, with seven to nine bids due to their strategic locations, said Knight Frank Singapore. Located at Commonwealth Avenue and New Upper Changi Road/Bedok South Avenue 3 (Parcel B), the sites are just next to Queenstown and Tanah Merah MRT...
The number of new private homes sold in November fell to the lowest level in 2012. Excluding executive condominiums (ECs), 1,087 units were sold in November -- 44.2 percent less than in October. It is also the second straight month of decline. October saw 25.7 percent less homes moved in at 1,948 units. Analysts attribute the decline to fewer property launches last month. Savills' research head, Alan...