The total number of private residential properties bought was about 22,000 in the first half of 2012, as compared to 19,000 in the first half of 2011 and 17,000 in the second half of 2011. National Development Minister Khaw Boon Wan said this in a written parliamentary response to a question by MP for Pasir Ris-Punggol GRC, Gan Thiam Poh. He said cooling measures introduced in January last year aimed to...
Market Reports
Only 33 luxury condos and apartments priced from S$10 million onwards changed hands in the first 10 months of the year, down from 57 units over the same period last year, reported The Business Times. According to a URA data analysis by CBRE, the 33 units amounted to S$449.6 million, 44 percent less than S$797.5 million last year. Caveats lodged comprised both the primary and secondary markets and were...
The recent restrictions imposed on home loan tenures, as well as more supply coming on-stream, will likely moderate housing demand, according to UOL Group. In a report by AsiaOne, UOL noted: “The residential market is still driven by high liquidity and low interest rates. Competition for acquisition of new (residential) sites is expected to remain intense.” Meanwhile, UOL has also predicted that...
The rental yield for non-landed private property went down by 0.2 percentage points in the last 10 months, compared to the same period last year. According to statistics from the Singapore Real Estate Exchange (SRX), this brings the rental yield to 4.03 per cent. This is even though average rental rose by two per cent in the first 10 months, to reach about S$3.80 per square foot. In October alone, the...
Resale home prices of both non-landed private residential units and HDB flats continued to climb in October against the third quarter 2012. Data released by the Singapore Real Estate Exchange (SRX) showed that the unit resale price for non-landed private residential rose 4.1 percent in October to $1,209 per square foot. SRX compiles data from 11 top property agencies in Singapore. The report found that...
The Government's new measures to further cool the residential property market, announced last month, add to the long list of such curbs it has introduced since September 2009. By my count, there are now at least 20 significant and not-so-significant residential cooling measures in place and it can be a major mental exercise trying to recall the different ones. But if one takes a more in-depth look, one...
New private homes typically cost 20 percent more than resale homes, but analysts say this price gap has since narrowed. Entering into the fourth quarter, new private developments now command just a four percent premium over resale private units, according to data compiled by the Singapore Real Estate Exchange (SRX) which collates transactions by major property agencies accounting for 80 percent of the...
A record supply of new homes will come on-stream into Singapore’s property market, with over 100,000 private housing units in the pipeline, said the Urban Redevelopment Authority (URA). AsiaOne reported that the upcoming residential supply will comprise 83,975 private homes, 9,824 executive condominiums (ECs) and 10,070 units from government land sites, either sold or slated for sale. The total is the...
The startling headline this week on the front page of a newspaper pointed to more than 100,000 private housing units in the pipeline as at the end of the third quarter, a record high since data was collected more than a decade ago. The number included private housing supply of 83,975 units, 9,824 Executive Condominiums and an estimated 10,070 units that will be developed from sites sold or slated for...
Property developers sentiment showed moderate improvement in the third quarter compared to the previous quarter. This is according to the REDAS-NUS Real Estate Sentiment Index (RESI) Survey for the third quarter of this year. The Composite Sentiment Index, the indicator for overall real estate market sentiment in Singapore, stood at 4.9 in Q3 compared to 4.7 in Q2. The current sentiment index stood at...