New private home sales in Singapore rose more than four-fold in July from June – reaching a two-year high – with the bulk of sales involving one development. Data from the Urban Redevelopment Authority (URA) on Wednesday (Jul 15) showed developers sold 1,594 private residential units in July compared with 375 units sold in June. The 1,390-unit High Park Residences, located on Fernvale Road in...
Property-cooling measures will stay for now and the right time to adjust or even lift some of the temporary initiatives is when the market equilibrium is a lot more certain and sustainable, said National Development Minister Khaw Boon Wan. Private-home prices fell 0.9 per cent between April and June, continuing a slide for the seventh quarter running — the longest streak in 13 years. However, in an...
While the Government has done much to address the public dissatisfaction with housing that came to the fore in the 2011 General Election, National Development Minister Khaw Boon Wan told TODAY in an interview there remains more to be done, such as addressing the needs of singles and people who suddenly find themselves in financial hardship. For the masses, their rising expectations — which Mr Khaw...
Rental prices for Housing and Development Board (HDB) flats fell 0.1 per cent in July from the previous month, according to data released by SRX Property on Friday (Aug 14). Rentals for 3-room, 4-room and 5-room flats saw rental prices decline by 0.4 per cent, 0.1 per cent and 0.2 per cent, respectively. Bucking the trend were executive flats, with a 0.5 per cent increase, SRX Property...
A key interest rate benchmark hit a four-month high on Thursday (Aug 13), as sentiment towards the Singapore dollar remain weak following the depreciation of the Chinese Yuan. On Wednesday, the three-month Singapore Interbank Offered Rate (SIBOR) rose to 0.9345 per cent. On Thursday, the rate climbed further to 0.9388 per cent. Property analysts said banks have not yet adjusted mortgage rates that...
The resale volume of non-landed private residential units was up 33.4 per cent year-on-year in July, with an estimated 515 units resold, SRX Property said on Thursday (Aug 13). However, compared to the previous month, resale volume was down 10.4 per cent from the 575 units resold in June 2015. Resale prices inched up 0.3 per cent from June, driven by units in the Core Central Region and Outside of...
Getting world-renowned architects to design private housing projects may boost sales, but market watchers have said that pricing and locations remain key factors for buyers at large, especially in today's lacklustre market. The latest designer condominium to be completed in Singapore is Sky Habitat at Bishan Central, which had buyers collecting keys to their units in April this year. It is designed by...
A tender to develop Blocks 17 and 18 Dempsey Road was conducted by the Singapore Tourism Board (STB) and Singapore Land Authority (SLA) on Thursday (Aug 13). The two blocks, within the Dempsey cluster of Tanglin Village, will be developed for retail and food and beverage (F&B) use, and the joint effort between both agencies aims to "strengthen the Tanglin Village's position as a unique lifestyle...
Midscale and economy hotels in Singapore performed better than their luxury counterparts in the first six months of 2015, reversing the trend seen in previous quarters, property services firm CBRE said in a report on Wednesday (Aug 12). This is because tourists from the region had become more price-sensitive in light of the Singapore dollar's appreciation against currencies like the ringgit and...
EL Development has placed the top bid of S$314.1 million or S$551.15 per square foot per plot ratio (psf ppr) for a 99-year private condominium site at West Coast Vale. The state tender attracted six bids. The second highest bid, from a tie-up involving Hoi Hup Realty, Sunway Developments and Oriental Worldwide Investments, was nearly S$534 psf ppr. The lowest bid, from a joint venture between...