About two weeks ago, property analysts at Credit Suisse released their findings of a survey it conducted to obtain a clearer picture of buyer behaviour given the strong sales at private residential project launches this year. It said its sample of 300 households had a profile that matched the Singapore population "quite accurately", with 80 per cent living in public housing and with close to 9 in 10...
Market Reports
The Urban Redevelopment Authority (URA) released today the real estate statistics for 2nd Quarter 2012. Prices of private residential properties increased by 0.4% in 2nd Quarter 2012, compared to the 0.1% decrease in the previous quarter. Prices of non-landed properties in Core Central Region (CCR) and Rest of Central Region (RCR) increased by 0.6% and 0.4% respectively in 2nd Quarter 2012, compared to...
Monthly rentals of luxury apartments fell 0.8 percent in Q2 this year due to tighter immigration rules, noted Colliers International Research. The consultancy stated that stricter immigration controls affected spill-over leasing demand from foreigners who cancelled or postponed their buying decisions due to the additional buyer’s stamp duty (ABSD). “Coupled with the seasonal summer break lull, the...
Housing prices in Singapore could fall 10 to 15 percent in the next 12 months, according to a report by UBS. UBS claimed that while the property market remains resilient despite the government’s cooling measures, it is near a tipping point. However, this outlook is significantly more pessimistic than other expert predictions which expect stable prices or a lesser decline of up to five percent. While...
Private home prices in Singapore have been on an uptrend post-global financial crisis, with the market having risen about 55 per cent since the middle of 2009 to hit a new high. Excess liquidity in Asian markets, a lacklustre United States economy and weakening European markets - as well as local factors such as low mortgage rates, higher immigration numbers, rising affluence and decreasing household sizes...
More homebuyers are returning to the private residential resale market as it is seen to offer better value compared to new projects launched by developers. In fact, the gap in median prices of new and resale transactions has also narrowed. That's according to real estate agency Dennis Wee Group (DWG). In a report, DWG said the caveats lodged in the secondary market climbed about 33 per cent in the...
With fewer new launches during the June school holidays, property developers turned their focus to clearing off unsold units from earlier launches. 7,234 new private homes remained unsold last month, down by some two percent from May. Market watchers say these units, which were launched at prices before the recent rise in property prices, seem more like a steal compared to the newer launches. Analysts...
Conditions in the private property market are still ripe for moderate price growth despite slower sales in the last few months which hit an all-time low for the year in June. According to latest figures released by the Urban Redevelopment Authority (URA), 1,371 private homes were sold during the month, a 19 percent decline month-on-month (m/m) from the 1,702 seen in May. Including executive condominiums...
The number of new private homes sold in June continued to fall for the second consecutive month, according to the latest data released by the Urban Redevelopment Authority (URA). Developers sold 1,371 private homes (excluding executive condominiums) in June, down 19.4 per cent from May when 1,702 units were sold. May's private home sales figures had dropped 32 per cent compared to April and, for the...
Real estate investment activity in Singapore has picked up in the second quarter of 2012. According to DTZ Research, investment activity for the second quarter increased 48 per cent on-quarter to S$6.9 billion. Meanwhile, investment deals for the first half of 2012 totalled at S$11.6 billion, dropping 32 per cent from S$17.1 billion on-year. Land sales made by the government declined too, accounting for...