The price of shoebox units are on the rise but concerns over affordability in this segment could see prices softening. The Singapore Residential Price Index (SRPI) by the National University of Singapore (NUS), which tracks the price movement of new small apartments, rose 3.1 per cent in August (month-on-month), after falling 0.5 per cent in July. The increase is more significant when compared to the...
Market Reports
Shoebox units outperformed other condos as an investment last month, according to website iProperty.com. Prices for the minute flats, normally measuring less than 500 square feet, rose 14 per cent to an average S$1,549 per square foot (psf) in August 2011 from a year ago. In contrast, psf prices increased 4.9 per cent for condominiums measuring between 501 to 1,500 square feet; and rose 9.9 per cent for...
Average prices of mass market homes in suburban areas have exceeded the psychological threshold of S$1 million, according to a Straits Times report. Data compiled by Ku Swee Yong, Chief Executive of International Property Advisor, and the Singapore Condo agency showed that values for new and resale private units in the second quarter averaged S$1 million, up from S$970,000 over the same period last...
Keppel Land’s Reflections at Keppel Bay, the developer’s iconic waterfront property, is likely to receive its temporary occupation permit (TOP) at year-end. And that may have stoked sales of late, say property experts. The 1,129-unit Reflections, designed by renowned architect Daniel Libeskind (most famous as the master planner for the rebuilding of the World Trade Center Site in New York), sits...
Just when you thought you have finally figured out what influences private home buying, the market throws up another surprise. The latest Urban Redevelopment Authority (URA) figures show that developers sold 1,348 private homes last month. Although this is down 3.6 per cent from the 1,398 units in July, some analysts, including myself, had predicted that sales could likely slip below 1,000 units amid...
The outlook for the Singapore residential property market lacks clarity and the murkiness does not seem to be clearing any time soon. Investors are looking for signals, direction and leadership. One major topic of discussion that has gained traction over the past year is pipeline supply. It began with a discussion about the Urban Redevelopment Authority's quarterly reports on the expected completion of...
The drop in the number of bids for land sale sites appears to indicate that a degree of caution has settled in the property market. A recent Urban Redevelopment Authority land tender for a commercial site along Robinson Road and Cecil Street closed with only three bidders. According to a report by DBS Group Research, the "response was lukewarm" on the back of the global uncertainties and potential...
Foreign investors continue to change the landscape of the luxury property market in Singapore. According to Cushman and Wakefield’s analysis of URA caveats lodged, Indonesians and mainland Chinese formed the majority in the upmarket segment this year, followed by Malaysians, Indians and the British. “Singapore is seen by many foreign investors to be a safe haven for property investment due to the...
Demand for private properties in Singapore is not expected to ease up in the coming months despite the stock market turmoil and uncertainties in the developed economies of Europe and the United States. Market experts said that the demand for private properties here will be propped up by the pent up demand in the public housing market which will in turn result in more Housing and Development Board (HDB)...
The 175-unit The Orchard Residences saw two transactions from Aug 12 to 23. The 54-storey condominium tower sitting on top of the ION Orchard mall is the new landmark on Singapore’s famed shopping strip, and was developed by CapitaLand and Hong Kong’s Sun Hung Kai Properties. The Orchard MRT station sits underground and is linked to the neighbouring malls. Completed late last year, the landmark...