Foreign buyers of Singapore properties accounted for 7 percent of the market in the third quarter this year. The proportion had remained unchanged from the previous second quarter. However, for the first three quarters of the year, foreign purchases averaged about 6 percent. This is according to the latest report on demand for Singapore's residential properties in Q3 by property consultant DTZ. The...
economy
The latest restrictions on home loan tenures will likely boost demand for lower-priced non-landed private homes, or those under S$1.5 million, according to a report by Knight Frank. The cooling measures are expected to impact affordability. For instance, a 35-year old home buyer with a S$12,000 monthly income can now afford a home priced as much as S$1.5 million to S$1.6 million on a 30-year loan,...
Sales of new private homes in Singapore declined by about 25.7 per cent to 1,948 units in October, from 2,621 units in September, according to data released by the Urban Redevelopment Authority (URA). URA said October's sales were led by the mass market segment which sold a total of 1,482 units. Meanwhile, 144 new homes in the core central region and 322 new units in the city fringe were sold. The top...
The total number of private residential properties bought was about 22,000 in the first half of 2012, as compared to 19,000 in the first half of 2011 and 17,000 in the second half of 2011. National Development Minister Khaw Boon Wan said this in a written parliamentary response to a question by MP for Pasir Ris-Punggol GRC, Gan Thiam Poh. He said cooling measures introduced in January last year aimed to...
Singapore Real Estate Investment Trusts (S-REITs) have outperformed the STI significantly as at end-October this year. And some investors are expecting the good run to continue, driven by capital inflows from stimulus measures in the US. But some analysts warn that the performance of S-REITs may have peaked. Market volatility and economic uncertainties are expected to continue to drive demand for REITS...
Resale home prices of both non-landed private residential units and HDB flats continued to climb in October against the third quarter 2012. Data released by the Singapore Real Estate Exchange (SRX) showed that the unit resale price for non-landed private residential rose 4.1 percent in October to $1,209 per square foot. SRX compiles data from 11 top property agencies in Singapore. The report found that...
New private homes typically cost 20 percent more than resale homes, but analysts say this price gap has since narrowed. Entering into the fourth quarter, new private developments now command just a four percent premium over resale private units, according to data compiled by the Singapore Real Estate Exchange (SRX) which collates transactions by major property agencies accounting for 80 percent of the...
Singapore developer Capitaland plans to launch its first value housing project in China in the next few weeks. This will be the company's maiden foray into the middle-income mass housing market and it is expected to be the next driver of growth for the property firm in China. When CapitaLand China released its first high-end homes in Hangzhou for sale last month, some 100 units were snapped up in two...
The startling headline this week on the front page of a newspaper pointed to more than 100,000 private housing units in the pipeline as at the end of the third quarter, a record high since data was collected more than a decade ago. The number included private housing supply of 83,975 units, 9,824 Executive Condominiums and an estimated 10,070 units that will be developed from sites sold or slated for...
While Singapore’s residential leasing market cooled in September, leasing volume and median rents for Q3 still peaked at record highs, according to data from the Urban Redevelopment Authority (URA) and Savills Research & Consultancy. Last quarter, leasing volume hit a new historical high of 14,029 leases, surpassing the previous record of 13,028 in Q3 2011. With 37,668 leases already transacted in...