National Development Minister Khaw Boon Wan said strong demand for residential property in Singapore is likely to persist, as interest rates stay low. In a question to the minister in Parliament on Monday, MP Foo Mee Har cited the case of a flat in Queenstown which was sold for S$1 million. Mr Khaw said from time to time, some buyers are prepared to pay way above market valuation but these are...
Market Reports
26,800 Housing and Development Board (HDB) flats and 22,400 non-landed private housing units are projected to be completed in 2014. The numbers are significantly higher than those projected for this year -- 11,300 HDB flats and 12,500 non-landed private housing units are expected to be completed in 2012. The National Development Ministry revealed these figures in a written response to questions posed by...
The government is releasing five residential sites for sale in October 2012 which will yield about 2,880 units. These include two Executive Condominium (EC) sites and three residential sites. In a joint statement, the Housing & Development Board (HDB) and the Urban Redevelopment Authority (URA) said this is to provide developers and home-buyers with more choices for private housing. The site at...
Demand for new private homes jumped by 84 percent in September from August, led mainly by a strong rebound in the mass market segment. According to the Urban Redevelopment Authority (URA), 2,621 new private homes, excluding executive condominiums, were sold in September. The 2,621 new units sold in September is the second highest amount since 2,772 units were sold in July 2009. Analysts see this as a...
The consensus among property watchers appears to be that older buyers will be worst hit by the new home loan curbs, especially those in their 40s and 50s, but the impact of the latest cooling measures will likely be felt more acutely in the resale market. Certainly, the mathematics will show older borrowers to be at a disadvantage, everything else being equal. But everything else is not equal. The...
The real estate investment sales market in Singapore surged 19.6 per cent in the third quarter from the previous three months, recording a total transaction value of almost S$9 billion, the highest quarterly total seen since the first quarter of last year, property consultancy Savills said yesterday. The residential segment recorded S$3.7 billion of transactions in the investment sales market, up 26.7 per...
Sales of new private homes have been brisk in the past year for projects in neighbourhoods like Pasir Ris and Punggol. And some industry players said the Hillview area, located in the western part of Singapore, could be the next up-and-coming spot with more projects lined up. The Hillier - a mixed development project at Hillview Avenue - is one of several new offerings in the area. It has seen strong...
Rentals for private homes are expected to ease in the next 12 months, especially those in the luxury segment. Experts said current rentals for private homes are just 1 per cent off the peak recorded in the second quarter of 2008. It used to take about a month to secure a tenant for private homes in the rental market last year. Now, it takes about three to four months, according to analysts. While...
Sales of bungalows at Sentosa Cove have picked up significantly in recent weeks, rebounding from the effects of the additional buyer’s stamp duty (ABSD), reported The Business Times. Owners of around 12 bungalows issued options to potential buyers in the past two months, with interest coming mostly from foreigners, especially China nationals. For instance, two homes on Pearl Island were reportedly sold...
Latest measures to cool the property market announced on Friday have prompted some buyers to seal last-minute deals, before the new rules kick in. From yesterday, buyers who opt for home loans over 30 years, or past the retirement age of 65, will have to fork out significantly more cash. Older investors, like 60-year-old Madam Doris Lim, are the hardest-hit by the latest restrictions on home loans. "I...