Judging from the feedback I have received, it appears that many did not quite know what to make of a property report released mid-week. After being told consistently by the authorities - and by some others as well - that there is no reason to "panic buy" as there is more than ample supply in the private housing market, these people are surprised by this latest market report that says there is no...
Market Reports
The head of CapitaLand's residential unit said government cooling measures will not slow underlying demand for residential property in Singapore. Wong Heang Fine, CEO of CapitaLand Residential Singapore, said prices are likely to keep rising this year, although the pace of increase may moderate. He said continuing low interest rates and high liquidity will support demand. Chong Lit Cheong, CEO of...
Private home sales in Singapore dipped 3.6 per cent in August. This follows the 17 per cent rebound in July. The dip comes after the government increased the income ceiling for public flats and executive condominiums (ECs) in August. Some 1,348 units were sold in August, excluding ECs. That's 50 units fewer than the 1,398 units sold in the previous month. More than eight in ten units - 1,114 of the...
Jones Lang LaSalle (JLL), a global property consultancy firm, has expressed a different view from most analysts who have said that Singapore will face a housing glut between 2013 and 2015. “Demand for housing is likely to remain fairly stable and support the injection of new stock over the next few years,” said Dr Chua Yang Liang, Research Head of JLL Southeast Asia. It added that the residential...
Residential property prices are expected to fall 8-10 per cent over the next year as government policies work their way through the market amid a worsening economy, according to brokerage UOB Kay Hian's latest note to investors published yesterday. It has been eight months since the Government introduced stiff stamp duties of as high as 16 per cent on the seller of a residential property and lowered the...
Foreigners are acquiring posh apartments in Singapore and contributing to the health of the luxury market, which had been weak since early 2007, according to an article in The Straits Times. Foreigners, including permanent residents (PRs), acquired 162 non-landed units with an average price of over S$5 million in the first half of 2011. According to a Cushman and Wakefield analysis of URA caveats lodged,...
There’s been a return of interest in the landmark condominium The Sail at Marina Bay in the past month, with three transactions from Aug 5 to 12. According to property agents, The Sail is seeing renewed interest from foreign high-net-worth individuals. A one-bedroom unit on the 56th floor of the 63-storey Tower 2 changed hands recently for $2.1 million, or $3,048 psf. This is the seventh transaction at...
Property agents have said buyers from China make up the largest group of foreign investors in Singapore's private residential property. The number of buyers from China has doubled in the past three years. Property agents and developers said Chinese buyers are mostly interested in properties that are in prime districts and have a sea view. Agents said previously, the traditional groups of foreign buyers...
Singapore property prices will remain stable in the medium term, with key home-buying factors like upgrading and investment still expected to drive up demand, said a My Paper report. This comes amid the expected slowdown in Singapore’s economic growth, led by the debt crisis in western countries. As home buyers are likely to be more cautious, prices will not increase or decline by over five percent by...
The newly completed Kovan Residences saw an increase in transactions from Aug 1 to 8, with three units at the suburban condominium changing hands in that period. Prices achieved were in the range of $1,085 to $1,267 psf. The fully sold 512-unit Kovan Residences was developed jointly by Centurion Properties, the majority stakeholder, in collaboration with construction group Lian Beng, which held a 19%...