The Urban Redevelopment Authority (URA) released today the real estate statistics for 1st Quarter 2012. Prices of private residential properties fell marginally by 0.1% in 1st Quarter 2012, compared with the 0.2% increase in the previous quarter. This was the first quarterly fall in prices since 2nd Quarter 2009, following nine consecutive quarters of declining price increases. Prices of non-landed...
Market Reports
Leasing demand for residential properties in Singapore remained robust in the first two months of this year as transactions hovered above 3,000 each month, according to Savills Research. Its data showed that there were 3,446 leasing transactions in February 2012, down 5 percent on-month. But Savills said February's transactions were still higher than the 2,767 transactions recorded a year ago. Based on...
The scorching pace of new private home sales continued unabated for the second consecutive month in March, when developers sold a total of 2,393 units, down marginally from February's 2,417. Sales have not only returned to the levels before the additional buyer's stamp duty (ABSD) was announced last December, as one analyst put it. Instead, it would be more accurate to say they have risen several notches...
The number of new private homes sold in the first quarter of this year crossed the 6,600 mark - a record high, according to analysts. But have prices of private home sales peaked? Riversound Residences and the Palm Isles were among last month's top four selling projects, all located in the suburbs. March raked in over 2,300 new private homes, lower than February's 2,400. Still, the first three months of...
With a growing number of senior executives from the expatriate community leaving Singapore, some prime locations are seeing a drop in asking rentals. Based on data compiled by The PropertyGuru, the most notable fall in median asking rental prices was seen in District 4 (Harbourfront / Telok Blangah), recording a significant 15 percent decline from a median price of S$7,900 in Q4 2011 to a median price of...
Developers are rushing to launch new projects to take advantage of the strong demand seen in the primary home sales market, according to a report by The Business Times. “Developers know this trend cannot be sustained, especially when you have HDB launching (so many units),” said Ku Swee Yong, Chief Executive of International Property Advisor (IPA). In March alone, a slew of developments were...
The gap in prices between private homes in the mass market and the core central region is narrowing. Market watchers said the gap is down substantially to just above 60 per cent in the first quarter of this year. That's compared to 108 per cent in the second quarter of 2011. This is because prices of homes in the mass market have been picking up at a much faster pace. Analysts expect more than 6,000...
Overwhelming demand in the housing market has exceeded supply in recent years, and as a result, prices have surged faster than peoples’ incomes. Tharman Shanmugaratnam, Singapore’s Deputy Prime Minister, commented that “we're not in a very happy part of the cycle,” according to a Straits Times report. Mr Tharman was responding to a query raised by Yvonne Ho, an engineering doctoral student,...
Demand for small sized apartments also known as shoebox units may be waning. These units spanning less than 500 square feet seem to be a hit with property buyers recently. Analysts said the popularity of these units in the rental market will only be tested in 2013, when the bulk of these units will be ready and put up for rent. Smaller apartments have been flooding the property market in recent...
It certainly isn't the kind of price correction that many had been eagerly anticipating since last December. Advance estimates published yesterday by the Urban Redevelopment Authority (URA) showed private home prices fell by 0.1 per cent in the first three months of this year compared to the final quarter of last year. It was the first drop in prices in nearly three years - the first quarterly decline...