Billionaire Kwek Leng Beng, head of Singapore’s second-largest listed developer, said last year that skyrocketing prices and restrictive rules made buying residential land here suicidal. That has not stopped international developers from rushing in. Land prices in some parts of the country are climbing at three times the pace of apartment costs, with plot values rising by an average of 30 per cent...
real-estate
Singapore's property prices could fall by 10 to 15 per cent this year, as government cooling measures and mortgage curbs continue to dampen the property market. This is the outlook from DBS Bank's CEO Piyush Gupta. His comment came during the bank's results briefing on Friday. Since 2009, the government has rolled out a series of measures to rein in property prices, and the impact is...
Some market watchers said demand for homes in the core central region could pick up as early as the second half of this year, as prices continue to moderate. Property consultancy Savills added that some unsold units in the city were even transacted at below valuation. According to recent marketing materials, Hijauan on Cavenagh is offering units at prices from as low as S$1,701 per square...
Prices of resale non-landed private homes declined 0.7 per cent in December after falling by 0.5 per cent in November, according to the flash estimate of the NUS Singapore Residential Price Index (SRPI). The drop was led by resale homes outside the central area where prices dipped 0.9 per cent last month, after a 0.1 percent decline in November. Resale prices for private homes in the central area...
Private home prices fell in the last three months of last year in the first drop since the beginning of 2012, figures released by the Urban Redevelopment Authority (URA) today (Jan 24) showed. Prices of private residential properties dipped by 0.9 per cent in the fourth quarter of last year, greater than the 0.8 per cent drip that the URA forecast earlier this month. The last time overall prices fell...
Singapore's fourth quarter private home prices fell 0.9 per cent -- the first time in almost two years as the government's mortgage curbs took effect. The dip in prices was slightly more than the 0.8 per cent drop based on preliminary data announced on January 2. According to final data from the Urban Redevelopment Authority (URA), prices of private homes for the full year rose 1.1 per cent, lower...
Sales of new private homes plunged nearly 80 per cent in December compared to a month ago, as developers held off new property launches. According to data from the Urban Redevelopment Authority (URA), just 259 units of new private homes were sold in December, down from 1,228 units transacted in November. Among the units sold, 125 are located in the suburban areas, 90 units in the city fringe, and 44...
rices of resale private homes fell for a fourth month in December as prices weakened by a further 0.2 per cent, according to the latest data from the Singapore Real Estate Exchange (SRX) which compiles data from property agencies in Singapore. The city area saw the steepest decline at 2.3 per cent, followed by the suburban region, which dipped 1.0 per cent. Resale prices of private homes in the city...
Private home prices in Singapore fell for a third consecutive quarter in the longest losing streak in five years as cooling measures and mortgage restrictions continued to slow the market, but the rate of decline moderated, suggesting the curbs are likely to stay in place, analysts said. Overall prices of private residential properties declined by 1.1 per cent in the three months to June from the...
Cooling measures, loan curbs and changes to public housing policies. Property analysts said 2013 has plenty of them and the measures are likely to ensure a more stable real estate market next year. They added that private home prices and demand could continue to moderate in 2014. Over 14,600 units of new private homes, excluding executive condominiums (ECs), were sold in the first 11 months of...