With a slew of condominiums being completed in the Cairnhill area, such as SC Global’s 240-unit Hilltops, Wing Tai Holdings’ 140-unit Helios Residences and, most recently, the 58-unit Ritz-Carlton Residences, investor interest has returned to the neighbourhood. The most recent recorded transaction at the freehold Hilltops was in August, when a 1,335 sq ft unit on the third floor was sold by the...
Market Reports
Data for private homes sales are out next week but analysts are already expecting to see a drop in sales. They say private home sales could cool by 15 to 20 per cent on-month to between 1,200 units and 1,600 units in October. Buyers' sentiment was strong in September with 1631 units sold, defying market expectations and perhaps even logic as Singapore was facing a technical recession and a spiralling...
Prices of freehold homes have proven more resilient in the past few months compared to those of 99-year leasehold properties, according to a new report. Credo Real Estate found that price gains for freehold terraced homes and condominiums have exceeded those for similar homes with 99-year leases since Q3 2010. While prices of leasehold condos rose by less than one percent each quarter in the 15 months to...
Rents for apartments in the city fringe areas are on the rise and this is being attributed to the concurrent increase in the number of small units that are generally under 500 sq ft in size. In a study by CBRE, rents in the city fringe, which covers areas like Balestier, Bishan and Geylang, rose to S$3.36 per square foot (psf) per month (pm) by the third quarter of this year, up from S$3.15 last year....
The neighbourhood of Cuscaden Road and Tomlinson Road, off Tanglin Road, is attracting the interest of high-net-worth individuals again, largely owing to the upcoming 29-unit boutique luxury condominium development, Hana, by Pontiac Land. The units at the 99-year leasehold Kerry Hill-designed project are said to average 3,500 sq ft each. Nearby, Hotel Properties Ltd (HPL), one of the biggest stakeholders...
The evidence for a price drop in Singapore's residential property market is stacking up even as investors here continue to buy up small units in the outskirts, setting new highs for average per sq ft prices. The Urban Redevelopment Authority (URA) released last Friday the full set of third-quarter property data - sending a clear signal about the avalanche of supply of homes. About 80 pages of the URA...
With uncertainties in the global economy affecting housing demand, private home sales in Singapore may come close to 2010’s record high but are unlikely to exceed the figure, according to many experts. The number of private homes sold in the first nine months of this year reached 12,301 units, compared with 12,051 units sold over the same period last year. However, experts said a slower fourth quarter...
Private home prices hit another all-time high even as the rate of increase continued to moderate, suggesting that caution had crept into the market amid heightened uncertainty in the macro-economic environment and a large supply pipeline. According to the Urban Redevelopment Authority (URA), the price index of private residential properties increased 1.3 per cent in the third quarter this year from the...
Prices of private residential properties increased by 1.3 per cent in the third quarter of 2011, lower than the 2.0 per cent rise in the previous quarter. This was the eighth consecutive quarter in which the rate of increase in overall private housing prices had moderated, according to real estate statistics released on Friday by the Urban Redevelopment Authority (URA). Prices of non-landed properties in...
The fully sold, 302-unit freehold Martin Place Residences obtained its temporary occupation permit (TOP) just last month. Enterprising property agents are already milling about in the area, showing units for lease and sale on the secondary market. There were two transactions at Martin Place Residences over the week of Sept 13 to 20, based on the latest caveats lodged and downloaded from URA Realis as at...