Home prices in Singapore inched up 0.9 per cent last month from September mainly due to a turnaround in the value of private non-landed residential properties in the central region, according to data from the National University of Singapore (NUS). The Overall NUS Singapore Residential Price Index rose to 167.9 last month from 166.4 in September, when prices fell 0.1 per cent. Excluding small units,...
Market Reports
Prices of private non-landed homes in Singapore resumed their upward trajectory in October, according to figures from the National University of Singapore (NUS). The NUS Singapore Residential Price Index (SRPI) rose 0.9 per cent from the previous month, after a decline of 0.1 per cent in September. SRPI is a transactions-based index that tracks the month-on-month price movements of private non-landed...
Singapore’s property sector may soon face difficult times, as Standard Chartered Bank’s latest report has stated a bearish outlook for the market. According to the bank’s analysts, prices and rents of residential properties in Singapore will drop by 30 percent over the next three years. This will be quite a setback, given that prices rose 18 percent in 2010, as Singapore recovered strongly from the...
Two good-class bungalows (GCBs), one in Tanglin Hill and the other in Victoria Park Road, have been sold for a total of S$105 million. According to The Strait Times, both properties were acquired by Singaporeans. The two-storey Tanglin Hill bungalow was sold for S$57 million (approximately S$1,648 psf). It was completed in 1990 and is located on a 34,579 sq ft site with a built-up area of 8,000 sq...
Property consultants have noted that there has been some opportunistic buying at the top end of the market. Many of those on the hunt are looking for condominium units for their own stay, and therefore prefer completed projects with spacious units. “With the ongoing European debt crisis, and global market uncertainty, people prefer not to flash their wealth and adopt a more conservative outlook,” says...
Prices of landed homes in Telok Kurau, Kovan and Joo Chiat could fall by 10 to 20 per cent following the introduction of new rules by the Urban Redevelopment Authority (URA) to limit the number of apartments that can be built in low-density housing areas, property analysts said. The rules, which kicked in on Thursday, are more likely to affect smaller developers, the analysts said. The plot size for all...
Once again, property developer SC Global Developments has set a new record price at The Marq on Paterson Hill, selling a 3,003 sq ft, four-bedroom apartment in the Premier Tower for about S$20.5 million (S$6,850 psf). This surpassed the previous record set in August for S$6,394 psf, which in turn topped the May record of S$5,842 psf. Comprising two 24-storey towers with a total of 66 units, the Marq is a...
Nearly 57 percent of home buyers in Singapore believe the government is either on track or will likely exceed expectations to cool the public housing market in five years. This includes 19.9 per cent who feel prices will stabilise over the next one to two years. And another nearly 37 per cent who feel three to five years is a fair assessment for public housing prices to stabilise. The poll was conducted...
The housing market in Singapore is heading for a prolonged downturn and overall private home prices are forecast to fall between 22 and 26 per cent in the next three years, Daiwa Research said. "We believe the residential property market could remain depressed for several years, triggered initially by a likely forthcoming gross domestic product slowdown (in 2012) and lingering global economic uncertainty,"...
The number of private homes sold in October went down by 14.9 per cent. Latest figures from the Urban Redevelopment Authority showed 1,387 private units were sold in October. That's 244 units lower than the month before. In September, 1,631 units were sold. Developers turned cautious in October and held back on new launches - only 1,337 units were launched. Dr Chua Yang Liang, head of research &...