Malaysians reclaimed top spot among foreigners buying Singapore properties despite the tough cooling measures introduced in December last year. They have overtaken the Chinese buyers. A report by DTZ Research revealed that Malaysians had a high of 362 transactions, marking a 28 percent share among foreign buyers due to the larger number of Malaysian PRs in the country. In the same report, it is revealed...
Market Reports
Singapore’s central business district (CBD) is evolving from a traditionally corporate location, with more buyers looking for prime residential properties in the area. According to Savills Singapore, more than 4,600 new homes will likely be completed in the district by end-2015. A number of these homes will be located in Shenton Way, Robinson Road and Tanjong Pagar. This is expected to boost the...
The number of new home sales in Singapore reached 2,487 in April, a 3.9 per cent increase from last month's total of 2,393 units. The Urban Redevelopment Authority (URA) said 1,514 homes were sold in the suburbs or Outside Central Region (OCR), while 867 new private units were sold in the city fringes and 106 were sold in the...
Mr Khaw on Monday said that the property market has shown signs that it's moving towards a more sustainable path, as he responded to questions on whether the government's various cooling measures have achieved their intended results. Mr Khaw reiterated that private home prices registered a marginal decline in the first quarter of this year (0.1 per cent fall quarter-on-quarter), following nine consecutive...
Minister for National Development Mr Khaw Boon Wan said on Monday that he would not hesitate to intervene in shoe-box unit market should there be clear evidence of unsustainable investor demand. Mr Khaw added that the Ministry of National Development (MND) is watching the situation closely. He however cautioned that it would be hard to intervene at present as the market for shoe-box units in the...
Property owners who are worried that the return on their residential investment properties might have taken a tumble can afford to relax as rental yields held their ground last month. This is mainly due to falling prices in the city centre and city fringe region and sustained rental demand. Data from the Singapore Real Estate Exchange (SRX) found that overall yields for private non-landed homes was 4.06...
Sluggish demand for high-end homes has lowered developers’ profits of late. If this trend continues, the luxury market could eventually hit rock-bottom in the days to come. With prices of luxury homes expected to fall by 15 percent this year, foreign demand is expected to dry up due to tightening measures and economic uncertainties. Early on, property developers are feeling the pinch over this...
Approximately 325 new private homes were sold over the past week, amid property launches and rock bottom interest rates. 67 units were sold at Far East Organization’s 338-unit SeaHill in West Coast Link, taking total sales to 185 units since it was launched last month. Homes at the 99-year leasehold project were sold for an average of S$1,329 psf. Far East also saw 34 more units taken up at the Hillsta...
The total value of new non-landed homes sold decreased by 21.7 per cent in 2011 compared to 2010 though the number of units sold dropped only 2.3 per cent, according to real estate consultancy CBRE. 13,611 caveats for non-landed homes amounting to some S$16.6 billion were lodged last year, compared to 13,933 caveats worth S$21.2 billion in 2010. CBRE attributes this to the robust sale of shoebox units....
Prices of resale private homes increased by 0.8 per cent in March, after falling 1.6 per cent February. This is according to the Singapore Residential Price Index (SRPI) flash estimates published by the Institute of Real Estate Studies at National University of Singapore (NUS). It noted an increase in the housing transactions volume in March and it is possible that the market may be shaking off the...