Credit Suisse said its recent survey found that majority of the respondents expect property prices in Singapore to continue to rise and more cooling measures to come. According to its inaugural proprietary housing survey, six in 10 home buyers believe that there'll be more cooling measures, with 40 per cent of them expecting measures to be introduced in the next 12 months. Credit Suisse noted that buyers...
economy
Property prices here grew at a slower pace and sales fell in the second quarter as global stock markets weakened, but the risk of a bubble will remain as long as interest rates stay low, the city's Financial Secretary warned yesterday. Mr John Tsang told legislators that market sentiment had moderated in the past two months after a sharp rebound in February. In May, prices grew by less than 1 per cent and...
Singapore's famed shopping street, Orchard Road, has been ranked 25th most expensive in the world this year. With rents of retail space averaging at S$462.43 per sq ft a year, this is a notch up from last year against 129 cities in a study conducted by Colliers International. New York's Fifth Avenue and Hong Kong's Queen's Road Central and Canton Road were the world's top three most expensive shopping...
The proportion of foreign and company private home buyers has fallen from 20 per cent in 2011 to 7 per cent in the first half of 2012. The National Development Ministry said this could be attributed to earlier rounds of cooling measures and the Additional Buyers' Stamp Duty (ABSD) imposed in December. Still, experts pointed out that property prices and volumes remain at record levels. Developers may...
The proportion of private residential properties bought by foreigners and companies has fallen sharply - from about 20 per cent in 2011 to 7 per cent in the first half of this year. Short-term property speculation has also fallen sharply, as indicated by the relatively low volume of sub-sales. And private home prices moderated significantly, rising marginally by 0.3 per cent in the first half of 2012...
Singapore is set to see the launch of its largest initial public offering (IPO) for the year, with Ascendas Hospitality Trust lodging its preliminary prospectus with the Monetary Authority of Singapore (MAS) to list on the SGX Mainboard. The trust, which comprises a real estate investment trust and a business trust, plans to sell between 506 million and 530 million stapled securities in its IPO to raise...
Property developers will launch some 8,000 new private homes over the next six months, according to analysts' estimates. While there are small risks of oversupply in the horizon, market watchers told Channel NewsAsia that private property prices should remain stable this year. A consortium comprising Hong Leong Group, City Developments and TID Residential won the tender for the site at Mount Vernon in...
Private home prices recovered to hit a new high in the second quarter, rising on the back of an increase in the prices of resale units rather than those at developer sales, a permutation that helps to allay concerns over the sustainability of the market. According to the Urban Redevelopment Authority's (URA) flash estimates, overall private residential property prices rose by 0.4 per cent in the second...
Residential property purchases made by foreigners from countries exempted from ABSD (additional buyer’s stamp duty) rose in 1H2012, according to data released by CBRE. These foreign buyers, including permanent residents (PRs), hail from the US, Iceland, Liechtenstein, Switzerland and Norway – countries that have free trade agreements with Singapore. CBRE noted that the group accounted for 3.1 percent...
Since 2009, private homeowners in Singapore have greatly benefitted from the recovery in the property market. A report by Square Foot Research revealed that owners received at least S$20.3 billion in gross profit since late 2009 based on caveats data. This explains the strong sales figure of S$60.1 billion recorded during the period, noted the report. Square Foot added that actual figures could be a lot...